Central banks are not fintech accelerators – Bundesbank official

A black car passes a speed camera
Rules of the road: Dirk Schrade says fintech must comply

Central banks should not act as a catalyst for disruptive financial technologies (fintech), says a top German supervisor, and regulators need to ensure new firms providing banking services receive equal regulatory treatment.

"We have to be clear about what roles we have – we are not just a company, we are public authorities with public mandates. I think it is quite clear that if fintech assumes a role that requires supervision, they should have to comply with the rules," said Dirk Schrade

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