Trust and Innovation – the Future of Finance: A Central Bank of Ireland Conference

On 18 September 2026, Central Bank of Ireland hosted a conference on “Trust and Innovation – the Future of Finance”. It brought together senior figures from central banks across Europe to explore the evolving landscape of financial services, the critical importance of maintaining public trust in financial institutions, and the opportunities and challenges presented by technological innovation in the financial sector.

This conference took place before the Informal ECOFIN Council, with Ireland’s Presidency of the Council of the EU providing an opportunity to connect central bankers, global academics, the diplomatic corps and Ireland’s economics and research community.

The first panel discussion focused on the continuing role of central bank money as the anchor of the financial system in a rapidly evolving landscape, and how this will complement the innovations gathering pace in private sector offerings.

Payments are undergoing a period of profound transformation. Digital technologies, instant payments, new payments providers, tokenisation and emerging forms of digital money are reshaping how households and businesses transfer value.

Against this backdrop, central bank money continues to provide the foundation of trust upon which monetary and financial stability rest. For centuries, central bank money has provided the unit of account and settlement asset underpinning economies, enabling commerce and improvements in the welfare of societies. Private money operates effectively because it is ultimately linked to, and convertible into, central bank money. More recent innovations in payments offer significant opportunities for efficiency and inclusion. However, they also raise questions regarding market structure, financial stability and monetary sovereignty.

The second panel discussion focused on what innovation means for growth, market integration and resilience, and how policymakers can respond.

Innovation has become a central pillar of Europe’s response to a more fragmented and competitive global economy. The challenge is no longer simply generating new technologies but ensuring that innovation contributes to productivity growth, strengthens the Single Market, supports strategic autonomy, delivers a fair transition, and enhances economic resilience.

This panel explored how innovation is reshaping the European economy and what the policy framework needs to do to support sustainable growth in an era characterised by uncertainty, demographic pressures, climate transition and technological change. Innovation is inseparable from resilience, enabling economies to adapt to shocks, diversify supply chains and maintain competitiveness.