Israel’s Steiner: central banks must adapt to changing banknote demand

Ilan Steiner

Changes in the cash management landscape should help central banks “refresh” traditional processes, including by making better use of data, according to the Bank of Israel’s head of currency.

Speaking on the sidelines of Central Banking’s 6th annual awards dinner, Ilan Steiner said central banks are facing changes as consumers change their payment preferences.

“Cash usage is declining … central banks need to foresee and adapt to the changes which are happening,” he said.

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