The National Bank of Serbia published remarks by Governor Jorgovanka Tabaković opening the “Banking Law 2025” conference, focusing on how digitised payment services are transforming transaction data into economic value and creating new, difficult-to-predict risks as artificial intelligence becomes more embedded. She framed the growing role of BigTech in payment intermediation as a challenge for regulatory responsibility and national sovereignty, and presented central bank digital currencies as one possible public, regulator-controlled model to help preserve control over payments and related data. The speech contrasted banks, which safeguard deposits and operate under intensive regulation and supervision, with BigTech firms that increasingly mediate payments and set their own rules for access to and use of data, leaving banks adapting to technology standards and infrastructure they do not control. Tabaković pointed to Serbia’s Dina national card scheme and the National Bank of Serbia Instant Payment System as mechanisms that have helped preserve sovereignty in domestic payment transactions. Conference discussions were framed around the theme “Payment Services between the Digital Anvil and the Regulatory Hammer”, alongside sessions on borrower protection and corporate governance in banks. The two-day event brought together 13 lecturers, including representatives from central banks in Brazil, Spain and Croatia, Japan’s Financial Services Agency, card schemes and AliPay, and UK lawyers, with panels including “When banks and Big Tech meet: Who owns the user in the era of digital wallets?” and a closing discussion on corporate governance.
National Bank of Serbia 2025-11-17
National Bank of Serbia Governor highlights BigTech and data risks in payments and cites CBDCs and domestic rails as a sovereignty response
Governor Jorgovanka Tabaković of the National Bank of Serbia highlighted the transformative impact of digitised payment services and AI on transaction data and regulatory challenges at the "Banking Law 2025" conference. She emphasized BigTech's growing role in payment intermediation and the potential of central bank digital currencies to maintain regulatory control. The event featured discussions on payment services, borrower protection, and corporate governance, with participation from international central banks and financial entities.