Home About FBF Overview Marie-Anne Barbat-Layani: “Banks will never compromise on security”  


05 october 2017

Marie-Anne Barbat-Layani: “Banks will never compromise on security”

Marie-Anne Barbat-Layani opened the Forum CB 2017 on digital trust alongside Pascal Célérier, Chairman of the Board of Directors at CA Cards & Payments and Crédit Agricole Deputy CEO.


Asked about the future of French banks as the digital revolution forges ahead, the head of the FBF reminded listeners that "the banking and payments sectors are jewels in the crown of French industry and bidding to be European leaders."

Four of the euro zone's top nine banks are French. Banks have no fear of competition. Quite the reverse. However, they are keeping a close watch on fair competition issues, particularly with the irruption of the Fintechs and GAFA tech giants into the market.

It there is one area where banks are at the cutting edge, it is digital technology. "Banks are hands-on players in France's digital transformation. Banking applications are among the top 3 smartphone apps that French people check in the morning."

Customers want a combination of digital convenience and the personal service offered by the high-street branch model. 70% of French customers are satisfied with their relationship advisor.

But digital transformation brings with it new cybersecurity risks. Marie-Anne Barbat-Layani went on to note that "Cybersecurity is a major concern for banks, government and supervisory authorities. Banks invest considerable sums to guarantee system security and combat cybercrime. They will never compromise on security."

This is why the opening-up allowed by PSD2 raises real concerns among the banking profession. "The directive obliges banks to throw open access to their infrastructures free of charge, without recognising the investments committed to build and maintain them year after year." The directive is also mistimed as it comes into force on 13 January while security standards, which have yet to be validated, will only be applicable 18 months after publication at the earliest. This EU directive illustrates why we cannot leave matters to the free interplay of competition without thinking through implications for the economy and industry.

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