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Fintech Benchmarks 2023 report – the future of money

Most central banks continue work on CBDC, while payments innovation again tops research agenda

This year the tension between new forms of digital money, and who has the authority to issue it, came to the fore of the Fintech Benchmarks 2023. Even though payment innovation and CBDC were the top areas of research efforts, and keeping up with regulating the use of new fintech products and services is the top technology challenge, only around half of central banks said they have a fintech strategy, and fewer still have defined approaches to suptech and regtech.

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Tech challenges

Central bank fintech departments say keeping up with new developments is their number one challenge, though this is much more commonly reported as a challenge in emerging market jurisdictions. Adapting legacy systems and maintaining cyber security are the joint second place concerns.

For the full breakdown, use the benchmarking service’s interactive charts to explore the data.

Explore interactive charts
Fintech Benchmark Data

Fintech data

View the full breakdown of responses to the Fintech Benchmarks.

Towards legal CBDCs

Officials at the Bank of Thailand and Bank of Jamaica on how their CBDC design choices interact with the law

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