Majority of central banks do not issue fintech licences
Lower-middle income jurisdictions more likely to issue licences than richer nations
Most central banks do not issue licences specific to fintech firms, Central Banking’s Fintech Benchmarks 2022 data shows.
Only a third of 31 respondents to this question said they issue licences to fintech firms, while two-thirds said they do not.
Within specific income classification groups, central banks from lower-middle countries were more likely to issue licences (60%), than central banks in upper-middle (25%) or high (23%) income countries.
!function(e,i,n,s){var t="InfogramEmbeds",dOnly users who have a paid subscription or are part of a corporate subscription are able to print or copy content.
To access these options, along with all other subscription benefits, please contact info@centralbanking.com or view our subscription options here: http://subscriptions.centralbanking.com/subscribe
You are currently unable to print this content. Please contact info@centralbanking.com to find out more.
You are currently unable to copy this content. Please contact info@centralbanking.com to find out more.
Copyright Infopro Digital Limited. All rights reserved.
You may share this content using our article tools. Printing this content is for the sole use of the Authorised User (named subscriber), as outlined in our terms and conditions - https://www.infopro-insight.com/terms-conditions/insight-subscriptions/
If you would like to purchase additional rights please email info@centralbanking.com
Copyright Infopro Digital Limited. All rights reserved.
You may share this content using our article tools. Copying this content is for the sole use of the Authorised User (named subscriber), as outlined in our terms and conditions - https://www.infopro-insight.com/terms-conditions/insight-subscriptions/
If you would like to purchase additional rights please email info@centralbanking.com
More on Fintech
Fintech Benchmarks 2024 – model banks analysis
Data reveals how advanced and emerging economy central banks structure their fintech functions
Fintech Benchmarks 2024 report – the promise and threat of AI
Data reveals how central banks are developing CBDC, tapping into AI tools and using cloud services
Most central banks’ cloud services are software-focused
Operational environment is largely hybrid and public, while access to server is often domestic
Fintech employees trained in AI in just over one-third of central banks
Senior management staff are least trained across jurisdictions
AI being adopted in over half of central banks
Supervision, document automation, data analysis and research are primary areas of use
Regtech strategy still lacking in majority of central banks
Stress testing, AML/CFT risk and reporting are top areas of application
Suptech strategy adoption remains below 50%
Resource constraints and data quality issues are still barriers
Nearly all central banks see CBDC as environmentally friendly
Few jurisdictions see initiative as comparable to banknotes’ lifecycle
Most read
- ECB staff speak out against changes to internal survey
- Central bank of the year: Central Bank of Brazil
- BIS’s Zhang Tao on why Asian central banks favour a broader policy mix