Cyber security and adapting legacy systems are top tech challenges

Recruiting talent and regulating the fast-paced sector are also difficult

Cyber security and adaptation of legacy systems are the most pressing fintech challenges for central banks, the Fintech Benchmarks 2024 finds.

Thirty-eight central banks provided data on an array of technological problems confronting their jurisdictions. Thirty (78.9%) voted for cyber security as a top issue. Adapting legacy systems is also a problem confronting a majority of institutions (27, 71.1% ).

At 24 (63.3%) central banks, recruiting and retaining top technology talent is another obstacle

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