Central Banking

Fintech not a danger to banking, say IMF panellists


Developments in the fintech sphere will not render traditional universal banks “obsolete”, the deputy governor of the Bank of Canada said, appearing on a panel at the International Monetary Fund’s spring meeting.

“Banks are obviously going to exist. It’s a question who the banks will be; some will do well as they adopt the new technology, other won’t,” Carolyn Wilkins said on April 19.

The Bank of Canada has been one of the more transparent central banks in terms of fintech research over the p