The European Central Bank (ECB) has officially announced the formation of its Market Advisory Group, a specialized Euro Group comprised of 30 senior professionals from across the business world. This expert panel will provide crucial guidance to the Eurosystem on the intricacies of designing and distributing a potential digital euro.
Following a public call for expressions of interest in July, the ECB’s High-Level Task Force on Central Bank Digital Currency meticulously reviewed applications. The selection committee ultimately appointed these 30 individuals based on their extensive experience and deep understanding of the euro area’s retail payments landscape. This euro group initiative underscores the ECB’s commitment to thoroughly investigating and thoughtfully developing a digital euro.
Fabio Panetta, ECB Board Member and Chair of the High-Level Task Force, expressed his enthusiasm for the collaboration, stating, “I am pleased that many high-quality experts from the private sector are willing to contribute to the digital euro project. Their expertise will facilitate the integration of prospective users’ and distributors’ views on a digital euro during the investigation phase.” The establishment of this euro group is seen as a vital step in ensuring the digital euro is user-centric and meets the diverse needs of the European economy.
The newly formed Market Advisory Group, or euro group, will operate in an advisory capacity, offering industry insights on the strategic design and effective distribution mechanisms for a digital euro. Their mandate includes exploring how a digital euro can bring added value to all stakeholders within the euro area’s complex payments ecosystem. The group will also benefit from the participation of a representative from the European Commission, alongside representatives from Eurosystem national central banks, ensuring a comprehensive and collaborative approach.
To maintain momentum and facilitate ongoing dialogue, the euro group is scheduled to convene at least quarterly, commencing in November 2021. Between these formal meetings, written consultations will further contribute to the group’s work. The insights and recommendations generated by this euro group will also be channeled into the Eurosystem’s established forum for institutional dialogue on retail payments, the Euro Retail Payments Board (ERPB). The ERPB, comprising high-level representatives from industry associations, provides a broader platform for stakeholder engagement. Furthermore, the Eurosystem is committed to engaging with the wider public and merchants through surveys and technical workshops, ensuring a multi-faceted approach to gathering input and refining the digital euro concept.
Members of the Digital Euro Market Advisory Group:
- Aleksander Kurtevski, Managing Director, Bankart
- Alessandro De Cristofaro, Director Digital Innovation Strategy, CRIF
- Antonio Macías Vecino, Head of Payments Discipline, BBVA
- Axel Schaefer, Payment Regulation and Innovation Specialist, Ingka Group (IKEA)
- Cristian Cengher, Product Owner Cross Border Payments, Erste Group Bank AG
- Cyril Vignet, Project Manager Innovation, Banque Populaire Caisse d’Epargne
- Diederik Bruggink, Head of Payments and Innovation, European Savings and Retail Banking Group
- Etienne Goosse, Director General, European Payments Council
- Fanny Solano, Director Digital and Retail Regulation, Transparency and Implementation, CaixaBank
- Fernando Rodríguez Ferrer, Head of Business Development, Bizum
- Gerard Hartsink, Chairman, ICC DSI Industry Advisory Board
- Inga Mullins, CEO, Fluency
- Jens Holeczek, Head of Digital Payment Unit, National Association of German Cooperative Banks
- Jochen Siegert, Managing Director, Global Head of Asset Platforms, Deutsche Bank AG
- Nicolas Kozakiewicz, Chief Innovation Officer, Worldline
- Nilixa Devlukia, CEO, Payments Solved
- Nils Beier, Managing Director, Accenture Strategy & Consulting
- Paul Le Manh, Advisor to CEO, EPI Interim Company
- Piet Mallekoote, Former CEO, Dutch Payments Association
- Régis Folbaum, Head of Payments, La Banque Postale
- Roberto Catanzaro, Chief Strategy and Transformation Officer, Nexi Group
- Ruth McCarthy, Managing Director, FEXCO Corporate Payments
- Sean Mullaney, Head of Payment Engineering, EMEA Payments, Stripe
- Silvia Attanasio, Head of Innovation, Associazione Bancaria Italiana
- Sofia Lindh Possne, Senior Advisor, Group Regulatory Affairs, Swedbank
- Stefano Favale, Head of Global Transaction Banking, Intesa Sanpaolo
- Teresa Mesquita, Chief Marketing and Product Officer, SIBS Forward Payment Solutions
- Valdis Bergs, Chairman of the Board, Mobilly sia
- Ville Sointu, Head of Emerging Technologies, Nordea
- Yves Blavet, Open Banking Director, Société Générale
This euro group represents a significant step forward in the ECB’s digital euro project. By bringing together diverse expertise from the payments industry, the ECB is ensuring a robust and well-informed approach to exploring the potential of a digital euro, and its impact on the future of finance within the euro area and beyond.
