The Central Bank's Director of Consumer Protection, Bernard Sheridan addressed the European Tech Summit saying that the impact of FinTech is becoming more evident, with a significant level of interest from regulatory bodies in the progress of these firms. The Director pointed out that the Central Bank's Consumer Protection Outlook Report highlighted financial innovations as a key consumer risk area, stating that the consumer benefits must be matched by service reliability, safety and security, and transparency of cost of services. In addition, the Central Bank's consumer protection work in relation to authorisations, risk identification and monitoring and product development is changing with the increasing volume of FinTech. In his closing, the Director encouraged a greater level of engagement between FinTech innovators and the Central Bank.