Foundations for cross border data flows to support digital finance, trade and sustainability - from ideas to implementation

This roundtable furthers Elevandi’s focus on developing the digital public goods, including at the 2023 Singapore FinTech Festival and 2024 Japan FinTech Festival.

Operating under the theme of Decoding Digital Assets and Payments, this roundtable will inform policy and business leaders on how data ecosystem development and cross border data policies may impact emerging digitalization agendas within trade, finance and sustainability. Alongside the G7 agenda for Data Free-Flow with Trust (DFFT), these areas of economic activity and policy require enhanced mechanisms for trusted and reliable data sharing or analysis across jurisdictional and policy borders.

It aims to enhance awareness and dialogue between different international initiatives shaping policy governing cross-border data flows. There are several key initiatives in this area, each emanating from a different policy domain.

- The DFFT initiative set out by the G7 and G20 aims to promote cross border data flows while respecting privacy, security, and intellectual property rights;
- the CPMI agenda aims to provide support to enhance efficiency, transparency, and safety of cross border payments with interoperability as a key building block; and
- the ICC Digital Standards Initiative convenes trade and finance stakeholders to enable trade digitalization with interoperability and data sharing as primary objectives, and where success relies on the free flow of commercial data in cross border supply chains.

Other initiatives include bilateral digital trade agreements that seek to enhance access to data and systems such as credit bureaus or business registry and legal data normally reserved for domestic institutions or industry members. In this patchwork of critical initiatives, this roundtable provides an opportunity for mutual update and dialogue across to forge more effective, integrated approaches to data governance and flows in support of the global digital economy.

Attendees will be invited to participate in polls and Q&A.

Attendees who wish to familiarise themselves with the topic may refer to the reference materials below.
- Foundations for Cross Border Data Flows to support Digital Finance Trade and Sustainability - From Idea to Implementation
- Shaping data policies through cross-border collaboration
- Digital economy: Data-driven financial services with trade | SFF 2023