Queen Máxima to give virtual speech at conference on cybersecurity and inclusive finance

On the afternoon of Thursday 10 December Her Majesty Queen Máxima will deliver a speech as part of the opening session of the online FinCyber Conference on Cybersecurity and Financial Inclusion.

The conference is being organised by the Carnegie Endowment for International Peace, the International Monetary Fund (IMF), the World Bank Group and the World Economic Forum. Queen Máxima will be speaking in her capacity as the UN Secretary-General’s Special Advocate for Inclusive Finance for Development.

Technological innovations in formal financial services (Fintech) offer many possibilities for increasing people’s access to bank or savings accounts, insurance policies, loans, pensions and digital payments. As noted by the World Bank and others, this increases their chances of economic and social development. According to the 2017 Global Findex, 1.7 billion adults around the world are unable to use financial services. Those most disadvantaged by this situation are women, people with low incomes and small-scale farmers and businesses. Fintech allows people living in remote rural areas better access to financial services and means they don’t need to queue for hours to do their banking. But it also brings risks.

In her speech, Queen Máxima will highlight the importance of developing safe, digital public goods that respond to users’ needs, so as to tackle such risks. This includes developing legislation on cybersecurity, data privacy and safe digital identification methods, as well as encouraging users to improve their digital and financial skills.

Other speakers at the event are IMF Managing Director Kristalina Georgieva and President of the Carnegie Endowment for International Peace Ambassador Bill Burns. The conference aligns with the fourth IMF Annual Cybersecurity Supervision Workshop being held on 9 December.