Amazon Web Services (AWS) and the Institute of International Finance (IIF) are jointly organizing Financial Services and the Cloud: A Summit with Regulators and Financial Institutions (the “Summit”) on 17-18 November 2022 in Bangkok at the Bank of Thailand Learning Center.

This flagship annual policy Summit – celebrating its 5th anniversary in 2022 – is an opportunity for financial regulators and financial institutions in Asia-Pacific to engage in discussion with the goal of advancing the future of financial services, while appropriately managing risks, including through the cloud . The Summit seeks to provide a platform to ask questions, share experiences, and foster senior executive connections among regulators and industry experts from Asia Pacific and beyond. This year’s Summit will be informed by a report by the IIF on decentralized finance and Web 3.0, to be released in the lead-up to the Summit.

The Summit will be conducted in English and comprises keynotes, presentations, fireside chats, and panel discussions. The Summit is an invitation-only closed-door event conducted under the Chatham House Rule.

Financial Services and the Cloud 2022: A Summit with Regulators and Financial Institutions Day 1

Date: Thursday, 17 November 2022
Time: 9:00 AM - 7:30 PM (BKT)


Time Agenda
09:00 - 09:30 Registration
09:30 - 09:40 Welcome and Summit Kick Off
09:40 - 10:00

Opening Keynote: Where Money, Finance, and Technology Meet - Positioning the Financial Sector for a Resilient Digital Economy

10:00 - 10:30 Presentation: IIF Report on Web 3.0 and Financial Services
The IIF will publish a report in the lead-up to the Summit addressing Web 3.0 and decentralized finance (DeFi). The report will cover the future of finance, particular use cases and technologies, and potential challenges for implementation. It will also address the roles of TradFi, BigTech and cloud in the evolving ecosystem, and make recommendations for policymakers and the ecosystem. The IIF will unpack the findings of the report.
10:30 - 11:30 Panel: Web 3.0 and Financial Services
Across Asia and globally, regulators are starting to address potential risks and challenges emerging around DeFi and Web 3.0, while acquiring a better understanding of how markets may operate in this space. This panel will feature a range of voices from different regulators and standard-setters to reflect on the direction of travel. Key topics covered will be: 1/ key regulatory initiatives underway; 2/ initial regulatory objectives and potential risks; 3/ vulnerabilities around DeFi and Web 3.0, including in the commingling of business and market operations.
11:30 - 13:00 Lunch
[Optional] Tour of the Bank of Thailand Museum and history of Thai money every 30 minutes
13:00 - 14:00 Panel: DeFi, Web 3.0, and Payments – Delivering Value for the Wider Economy
This panel will feature a range of private sector participants, and focus on: 1/ the roles of traditional financial institutions (TradFi), fintechs and bigtechs in the future of finance, 2/ use cases for DeFi in finance that may deliver the most value to clients and investors, and 3/ ways in which finance and commerce may become increasingly integrated. Participants will also explore the role of cloud infrastructure and services to experiment, deploy, and scale.
14:00 - 15:00 Panel: Emerging Technologies in Financial Services and the Impact on Financial Inclusion
Asia is among those regions most active in exploring gamification as a means of increasing financial literacy and inclusion. Among the barriers to adoption of DeFi and other emerging financial channels may be steep learning curves for retail clients, complex interfaces, and novel or unknown risks (e.g. private key loss). While the metaverse, VR/AR, and gamification may appeal to younger investors, these may also exclude older clients. DeFi, embedded supervision, and attendant infrastructure may also present opportunities while raising questions.
15:00 - 15:30 Break
15:30 - 16:15 Panel: Web 2.5 – Bridging Aspirations for the Future and Today’s Fundamentals
This panel will focus on how finance can be decentralized while still delivering security and scalability, and simultaneously being accountable to users and regulators. The panel will consider whether a partly decentralized, “Web 2.5”, may be the emerging paradigm in time.
16:15 - 16:45 Day 1 Closing – Fireside Chat with Michael Punke, Vice President, Global Public Policy, Amazon Web Services
16:45 - 17:00 Wrap-up and Reflections
17:00 - 19:30

Evening reception at The Somdej Residence, Bangkhunprom Palace
A business networking session at the Bangkhunprom Palace, a former royal residence of Prince Paribatra Sukhumbandhu built in 1899. The Palace is located on the east bank of the Chao Phraya River, on Samsen Road, Phra Nakhon District , within the compound of the Bank of Thailand.

Financial Services and the Cloud 2022: A Summit with Regulators and Financial Institutions Day 2

Date: Friday, 18 November 2022
Time: 9:00 AM - 2:00 PM (BKT)


Time Agenda
09:00 - 09:30


09:30 - 10:00 Day 2 Kickoff – Fireside Chat with Dr. Jens Lottner, Chief Executive Officer, Techcombank
10:00 - 10:45 Panel: Evolving Operational Resilience and Technology Risk Oversight for the Future
Financial regulators globally are placing increasing importance on operational resilience aspects of financial services, including cybersecurity. Evolving financial infrastructure may place new pressures on operational resilience and tech risk oversight, including the relationship of financial institutions with third party technology providers. What will those considerations be and how might they impact risk management planning on a 2-year, 5-year, and 10-year horizon?
Breakout Session Group A
10:50 - 11:35

Track 1 - The Future of RegTech/SupTech Ecosystem
RegTech and SupTech offer a significant opportunity for financial institutions, regulators and supervisory agencies to improve compliance, reduce costs and promote innovation. Increasingly, financial institutions have embraced RegTech and SupTech solutions to help them keep up with the pace of change in both the regulatory and technology sectors. However, the use of new technologies in the regulatory and supervisory areas brings new challenges and risks, including operational risks. This session describes the development and key features of RegTech and SupTech. It then analyses potential benefits, challenges and growth of the RegTech and SupTech industries and their implications for the compliance sector.

Track 2 - Reasonable Assurance through AWS Customer Assurance Program
AWS offer customers the ability to develop an ongoing audit relationship with AWS Security through various channels. The various engagement options offered through AWS seek to deepen visibility into the AWS control environment through direct engagement with customers’ audit teams and AWS’s evidence artefacts, enabling customers to engage with AWS on matters of security, compliance and audit, including creating scalability and digitizing the audit experience through Digital Audit Symposiums (DAS).

Track 3 – Security and compliance for Financial Services
AWS works directly with financial institutions to enable the secure and compliant adoption of AWS services, including contractual compliance, customer guidance, and vendor due diligence. This session will provide a briefing on the AWS program designed to help the risk, security and compliance teams within financial institutions obtain the understanding they need to confidently migrate critical workloads to AWS.

11:35 - 11:45 Break
Breakout Session Group B
11:45 - 12:30

Track 1 – Enabling Customer Privacy Risk Management
This session will 1/ discuss personal data protection requirements and key definitions, 2/ understand AWS Shared responsibility model throughout the personal data handling lifecycle, and 3/ key use cases for managing privacy risks.

Track 2 - Considerations for Confidential Computing in Financial Services
Confidential computing is an emerging technology to secure your workload. However, since emerging technology is not always “one size fits all”, we should consider the pros and cons that apply to your environment. This session will cover (1) introduction of confidential computing, including Nitro hypervisors and Nitro enclaves; (2) pro and cons of confidential computing; and (3) balance between benefit and mature cloud computing.

Track 3 - Using Security in the Cloud to Improve your Security Posture
AWS Security Hub is a cloud security posture management service that performs security best practice checks, aggregates alerts, and enables automated remediation. This session will demonstrate a real use case of Sec Hub combined with other security tools such as Guard Duty, AWS Config and AI/ML to improve security posture.

12:40 - 13:00 Closing Keynote – The Path Forward
13:00 - 14:00


Event Closed