Description
Central banks are now coming to grips with the true implications of FinTech. Once thought only to be applicable to the private sector, FinTech is now being seen as a way to help banks do what they are already doing, but more efficiently, meaning serious reconsideration of the way that payment and settlement systems operate. However, the nature of decentralised technology creates issues around integrity and anonymity. With these consequences, central banks need to ensure that these issues are dealt with before FinTech can be introduced as a replacement of already existing systems. This program aims to equip central bankers with the tools they need to tackle these issues and develop their policy frameworks.
Objectives
1. Provide better understanding of the role of digital technology in achieving financial innovation in SE Asia, including smart accounting and contracts, crowd-sourcing, and funding.
2. Explore the growing use of blockchain technologies that allow faster, more flexible and secure payments systems, sharing experiences and expertise among peers in SE Asia.
3. Explore the scope for digital technology to promote financial development and inclusion.
4. Discuss appropriate regulatory and public policy responses to Fintech, including correspondent banking relationships.
Target Audience
This program is designed for middle-to-senior level officials from regulatory agencies and policymakers from central banks in the Asian region with interests in payment system, macroprudential policy and financial stability.
Date : TBA
Partner : Bank of England
