Advertise on podcast: Toronto Centre Podcasts

Banks and a handful of international firms historically conducted the majority of payment functions. More recently, enabled by technology and regulation, new entrants specializing in one or a few processes have joined retail payment sectors. This Toronto Centre Note and accompanying podcast aims to guide financial sector supervisors whose responsibilities include the supervision of companies licensed or authorized to operate and provide retail payment services (RPS) to perform risk-based supervision (RBS). Speaker:  Robert Urry, Program Leader, Toronto Centre Host:  Floris Fleermuys, Program Director, Toronto Centre Read the transcript here. Read their biographies here.

On July 16, 2025, The World Bank Group released The Global Findex 2025. It is a comprehensive database on how adults save, borrow, make payments, and manage risk. This edition introduces the Global Findex Digital Connectivity Tracker, which illustrates how mobile phones and internet access are advancing financial inclusion. In this podcast, the speakers explore the highlights of the report, including: Mobile phone ownership, internet use, digital activities, and digital safetyThe growth in financial account ownership across developing economiesOpportunities for regulators to increase capital flows within economiesThe importance of savings and earning interest Speaker:  Leora Klapper, Lead Economist, Development Research Group, The World Bank Host:  Mamta Suri, Program Director, Toronto Centre Read the transcript here. Read their biographies here. Read the 2025 Global Findex here.

The Forum on Financial Supervision was founded as part of the Systemic Risk Centre at the London School of Economics. It promotes the exchange of knowledge amongst senior policy makers, financial supervisors, and academics to address key issues with a focus on financial stability. This podcast explores the origins of the Forum and its first-year priorities: stress testing, the non-banking sector, and real estate markets. The speakers also discuss future goals for the Forum, including fostering public debate and integrating research into supervisory practice. Speakers:  Pedro Duarte Neves, Advisor, Board of Directors, Banco de Portugal Andrea Enria, Senior Advisor, Prudential Regulation Authority; Member, Prudential Regulation Committee, Bank of England Host:  Demet Çanakçı, Senior Program Director, Toronto Centre Read the transcript here. Read their biographies here. Visit the Forum on Financial Supervision website to learn more. The views expressed in the podcast are those of Pedro Duarte Neves and Andrea Enria and do not necessarily reflect those of Banco de Portugal, the Bank of England, or the Eurosystem.

On Thursday, October 23, Peter Routledge, Superintendent of Financial Institutions, was interviewed by Bill Coen, the Former Secretary General of the Basel Committee on Banking Supervision, a Toronto Centre Board Member, and Chair of our Finance, Audit and Risk Committee, at Toronto’s National Club. This timely conversation provided insights into the importance of international cooperation and the future of the financial sector in a shifting landscape. The event also marked the graduation of the first cohort of Toronto Centre’s Certified Financial Supervisor (CFS) designation—the first rigorous, exam-based professional designation for supervisors and regulators in banking, insurance, pensions, and securities.  Panelists: Peter Routledge, Superintendent of Financial Institutions, Canada Moderator: Bill Coen, Former Secretary General, Basel Committee on Banking Supervision, Board Member and Chair, Finance, Audit and Risk Committee, Toronto Centre Read the transcript here. Read their biographies here.  Watch the fireside chat here.

This panel took place at the 2025 International Monetary Fund and World Bank Group Annual Meetings.  The convergence of artificial intelligence and digital assets, including cryptocurrencies such as Bitcoin and stablecoins, is reshaping financial markets through decentralized finance, programmable money, and AI-driven trading strategies. While these developments promise efficiency and innovation, they also raise significant supervisory and financial stability challenges around market integrity, systemic risk, and cross-border oversight. This panel explored how supervisors can harness AI to analyze blockchain data, monitor cryptocurrencies and stablecoins in real time, and anticipate market stresses, including those stemming from decentralized finance and autonomous smart contracts while addressing emerging risks such as cyber threats, privacy concerns, and regulatory arbitrage. It also considered the skills, tools, and global cooperation needed to future-proof supervisory frameworks as these technologies scale. Panelists: Denny H. Kalyalya, Governor, Bank of Zambia Sarah Breeden, Deputy Governor, Financial Stability, Bank of England Stefan Ingves, Chair, Toronto Centre Moderator: Jay Surti, Division Chief, Financial Supervision and Regulation, IMF Read the transcript here. Read their biographies here. Listen to the podcast here. Watch the executive panel here.

This is the second in a two-part podcast series published in partnership with CGAP. In June 2025, the Financial Action Task Force (FATF), issued guidance on Financial Inclusion and Anti-Money Laundering, and Terrorist Financing (AML/CFT) measures. FATF recognizes that applying an overly cautious approach to anti-money laundering, countering the financing of terrorism, AML/CFT safeguards, can have the unintended consequence of excluding businesses and consumers from the financial system. The speakers discussed: Balancing AML/CFT compliance with financial inclusionThe potential of RegTech and SupTech to enhance financial inclusionThe importance of sex-disaggregated data in removing barriers to financial inclusion Speakers:  Mehmet Kerse, Senior Financial Sector Specialist, CGAP Louis de Koker, Consultant, CGAP; Professor of Law, La Trobe University, Australia  Host:  Richa Goyal, Program Director, Toronto Centre Read the transcript here. Read their biographies here. Read the FATF's updated Guidance on Financial Inclusion and Anti-Money Laundering and Terrorist Financing Measures here. Listen to the first part of the podcast here. https://torontocentre.org/

This is the first in a two-part podcast series published in partnership with CGAP. In June 2025, the Financial Action Task Force (FATF), issued guidance on Financial Inclusion and Anti-Money Laundering, and Terrorist Financing (AML/CFT) measures. FATF recognizes that applying an overly cautious approach to anti-money laundering, countering the financing of terrorism, AML/CFT safeguards, can have the unintended consequence of excluding businesses and consumers from the financial system. The speakers discussed: How proportionality supports financial inclusionThe complimentary nature of financial inclusion and financial integrityThe consultation process with international bodies and standard setters Speakers:  Ivo Jeník, Senior Financial Sector Specialist, CGAP Louis de Koker, Consultant, CGAP; Professor of Law, La Trobe University, Australia  Host:  Richa Goyal, Program Director, Toronto Centre Read the transcript here. Read their biographies here. Read the FATF's updated Guidance on Financial Inclusion and Anti-Money Laundering and Terrorist Financing Measures here. The second part of this podcast series will be released in September 2025. https://torontocentre.org/

Geopolitical risks are emerging from multiple sources, with complex, varied, and country-specific effects. Understanding how these geopolitical events will affect supervisory objectives is a challenging task. Supervisory authorities therefore need a clear framework to identify relevant geopolitical events, assess their impact on objectives, and guide an effective response. This Toronto Centre Note and accompanying podcast provides an overview of an effective assessment framework. It explains each of its elements, explores the tools available for conducting assessments, and outlines how to develop a proactive supervisory response. Speaker:  R. Barry Johnston, Program Leader, Toronto Centre Host:  Demet Çanakçı, Senior Program Director, Toronto Centre Read the transcript here. Read their biographies here. Read the TC Note here.

This was an official virtual side-event of the 4th International Conference on Financing for Development. This executive panel explored adapting supervisory and regulatory frameworks to keep pace with rapid technological change, and the role of central banks and supervisors in accelerating the Sustainable Development Agenda. The conversation highlighted the urgent need for coordinated global approaches and how combatting financial crime and the illicit flow of finances, as well as responsibly leveraging AI, is foundational for a stable digital financial ecosystem. The panelists discussed lessons learned from Kenya’s adoption of mobile money. Key themes include: Building supervisory capacity to respond to fintech and AI innovationCyber resilience and combating financial crime as a prerequisite for achieving sustainable developmentStrengthening the financial sector’s role in supporting climate and sustainability goalsThe importance of collaboration between consumers, industry, and financial regulators and supervisors Opening Remarks: Deputy Ian Gorst, Minister for External Relations, Government of Jersey Panelists: Socorro Heysen, Board Member, Toronto Centre; Former Superintendent, Banks, Insurance, and Pension Fund Administrators, Peru Hunter Sims, Associate Director of Business & Operations, Cambridge Centre for Alternative Finance Tamara Cook, CEO, Financial Sector Deepening Kenya Olaf Weber, Professor & CIBC Chair in Sustainable Finance, Schulich School of Business Moderator: Babak Abbaszadeh, President and CEO, Toronto Centre Read the transcript here. Read their biographies here. Watch the executive panel here.

This was a virtual executive panel delivered in partnership with the World Wildlife Fund.  Latin America's financial sector faces mounting challenges from climate change, biodiversity loss, and shifting global expectations around environmental and social (E&S) accountability. Drawing on the findings of WWF’s 2025 Sustainable Banking Assessment — which evaluated 22 leading banks across six Latin American countries — this panel explored supervisory and policy implications for embedding E&S considerations into risk-based frameworks.  The session brought together WWF experts, banking supervisors, and financial institutions to discuss how supervisory authorities could accelerate progress to close persistent implementation gaps in E&S risk management, especially regarding nature-related risks, science-based targets, and net-zero alignment. A key focus was on how regulators could support more consistent disclosure practices, enhance portfolio-level risk assessments, and align national frameworks with global standards such as the Taskforce on Nature-related Financial Disclosures, the International Sustainability Standards Board, and the Net-Zero Banking Alliance.  The panel offered a timely opportunity to reflect on the evolving role of supervisors in guiding the transition toward a nature-positive and climate-resilient financial system — especially in a region with rich natural capital and heightened exposure to systemic environmental risks.  Opening Remarks: Roberto Troya, Senior Vice President, WWF-US Country Offices; Regional Director, WWF-Latin America Babak Abbaszadeh, President and CEO, Toronto Centre Panelists: Solange Berstein, Chairwoman, Financial Market Commission of Chile Aaron Vermeulen, Finance Practice Lead, WWF-International Hernando José Gómez, Former Director, National Planning Department of Colombia Moderator: Socorro Heysen, Board Member, Toronto Centre Read the transcript here. Read their biographies here. Watch the executive panel here.

The term "intervention" can cover a range of actions, including requirements that a supervised financial institution strengthens its controls or governance, strengthens its financial resources, introduces changes to aspects of its business, or limits or discontinues some part of its business. This Toronto Centre Note and accompanying podcast assists supervisors in formulating focused supervisory interventions which comply with sound principles of intervention. It has a somewhat different format from other Notes, providing a series of examples and inviting readers to develop what they would regard as effective supervisory interventions in each case. Speaker:  Paul Wright, Program Leader, Toronto Centre Host:  Demet Çanakçı, Senior Program Director, Toronto Centre Read the transcript here. Read their biographies here.

This podcast explores the important role that self-regulatory organizations (SROs) play in securities markets, as well as the advantages, risks, and key considerations in delegating regulatory responsibilities to SROs. The speakers discussed how securities supervisors can effectively oversee SROs to ensure accountability, transparency, and investor protection. They also highlighted practical approaches for strengthening the relationship between supervisors and SROs, especially in emerging markets. Speaker:  Bert Chanetsa, Program Leader, Toronto Centre Host:  Chuin Hwei Ng, Program Director, Toronto Centre Read the transcript here. Read their biographies here.

This panel took place at the 2025 International Monetary Fund and World Bank Group Spring Meetings.  The rapid evolution of financial innovation is redefining the landscape of supervision, presenting regulators and supervisors with the challenge of keeping pace with technological advancements while upholding financial stability, consumer protection, and market integrity. This session convenes leading experts to explore practical approaches for leveraging AI in supervision, equipping supervisors with the tools and insights needed to navigate an increasingly complex financial ecosystem.  The discussion delved into how AI is reshaping financial systems to enhance resilience, with a focus on AI-driven risk management, operational efficiency, and financial inclusion.  The panel discussed: The broader implications for financial stability, regulatory frameworks, and ethical considerationsThe role of AI in strengthening financial system resilienceInnovations that enhance adaptability to market shocks and systemic risksRegulatory and operational challenges in integrating AI-driven solutions Panelists: Lesetja Kganyago, Governor, South African Reserve Bank Andréa M Maechler, Deputy General Manager, Bank for International Settlements Stefan Ingves, Chair, Toronto Centre Moderator: Jennifer Elliott, Assistant Director, Monetary and Capital Markets, IMF; Board Member, Toronto Centre Read the transcript here. Read their biographies here. Watch the executive panel here.

In a time of global uncertainty and heightened risks, the financial sector faces unprecedented challenges that demand the attention of regulators and supervisors. Geopolitical tensions, economic turbulence, tariffs, currency devaluation, and the deconstruction of the global development sector may threaten worldwide financial stability. In this webinar, the speakers discussed how supervisors can proactively navigate these challenges. They explored: Key global developments, deregulation, and risks impacting financial stabilityThe importance of crisis preparedness, stress testing, and mitigation strategies in times of uncertaintyThe impact of reduced international aid for emerging markets and developing economiesShifting global priorities and major policy changes Panelists: Stefan Ingves, Chair, Toronto Centre; Former Governor, Sveriges RiksbankElsie Addo Awadzi, Board Member, Toronto Centre; Former Deputy Governor, Bank of GhanaNicolas Véron, Senior Fellow, Peterson Institute for International Economics; Senior Fellow, Bruegel Moderator: Babak Abbaszadeh, President and CEO, Toronto Centre Read the transcript here. Read their biographies here. Watch the virtual executive panel here. Écoutez le podcast en français ici. Escuche el podcast en español aqui.

This podcast explores why financial literacy matters, its impact on financial stability and inclusion, and what can be done to improve it at all levels, from individuals to policymakers and supervisors.   The speakers discuss how tailored literacy initiatives can help to bridge socio-economic gaps and will lead to people making better financial decisions. They explore how to assess the impact of the initiatives and the importance of updating them to keep pace with technological change.    Speaker:  Pedro Duarte Neves, Advisor, Board of Directors, Banco de Portugal Host:  Demet Çanakçı, Senior Program Director, Toronto Centre Read the transcript here. Read their biographies here. The views expressed in the podcast are those of Pedro Duarte Neves and do not necessarily reflect those of Banco de Portugal or the Eurosystem.