Tavi Rõivas at Fintech: laws have to keep pace with new business models

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Today Vice President of the Riigikogu (Parliament of Estonia) Taavi Rõivas opened the conference on financial technology, the London Fintech Conference, with a speech providing an overview of the e-solutions of Estonia.

Rõivas emphasised in his opening report that laws and regulations should keep pace with new and innovative business models. “At the time when companies that create new technologies and innovative solutions, like Transferwise and Funderbeam, shake the large and traditional industries, the states have two choices – to show the way or to lag behind. The countries either have to be able to keep up with the changes, or drop out of competition for the people and the business,” Rõivas said.

In his opinion, technology is just a tool for “thinking out of the box”. “Courage to change old processes is what makes Estonia stand out among many other countries,” Rõivas said.

London Fintech Conference is Europe’s largest student-led conference on financial technology that brings together the world’s top entrepreneurs, start-ups, investors and students in the field. The Conference, organised in cooperation with Imperial College London, has around 250 participants.

During his working visit to London, Rõivas will also deliver a report at the Royal United Services Institute seminar on cyber security.

Krishan Chand

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