Big data and AI, algorithm-based trading, blockchain, mobile payment, and digital currencies are impacting the organization and the performance of financial markets as well as the content and business models of underlying financial services. Although we can already see how these developments are affecting the financial system, there remains high uncertainty regarding the timing, extent, and the economic and social implications of their impact.

The research project The Future of the Financial System in the Digital Age was launched in June 2019 and brings together leading Japanese and European experts in the field of banking, financial services, payment systems and digital technology. In monthly meetings, specific topics raised by the digital transformation are presented and discussed. The aim is to produce a publication in English as well as Japanese, which introduces Japanese and European discourses about the future of the financial system and various policy approaches to a wider Japanese and international audience.