Fintech
Nine in 10 central banks are working on CBDCs
Very few central banks have progressed past the research phase, but those that do are working on general purpose variants
Payment innovation is top fintech spending priority
One-third of central banks say they are prioritising digital currencies
High income countries report greater numbers of licensed fintech firms
Some jurisdictions host many licensed fintech firms but others have none
‘Do no harm’: central bankers warn against rush to issue CBDC
Agustín Carstens, Jerome Powell and Jens Weidmann highlight risks of acting too fast
Central banks struggle to retain fintech talent
Private sector competition lures employees away
BoT says prototype corporate CBDC boosted efficiency
Thai central bank says DLT allowed cement firm to integrate payments systems with suppliers
Fintech use shows international gender gap – BIS paper
Women use fintech less than men but reasons for this are unclear, survey finds
Ghana’s central bank launches fintech sandbox
Central bank says it will give preference to firms looking to bolster financial inclusion
Corporate Services Benchmarks 2021 report – trends in financial reporting and administration
Insights on staffing and salaries, technological automation, data security, rule compliance, gender equality and green office spaces in accounting, audit, HR and administration
BIS and central banks partner to create CBDC ‘bridge’
Cross-border project will link up digital currencies of China, Hong Kong, Thailand and the UAE
Private sector partnerships could be the key to CBDC survival – IMF research
Central banks may find it “challenging” to keep up with pace of technological change
Carney takes job on Stripe board
Former BoE governor adds role at fintech firm to growing portfolio of positions
Kenneth Montgomery on the Fed’s progress with instant payments
The FedNow project leader speaks about Covid-19 payment behaviours, a new liquidity management tool and what it will take to achieve ubiquitous instant payments in the US
Fed’s Bowman discusses changes to antitrust law
Board member wants competition policy to take better account of smaller banks
Podcast: the legal implications of CBDC
The majority of central banks cannot issue CBDCs to the public under current frameworks
One-size-fits-all regulation won’t meet fintech challenge – FSI paper
Banks and big tech require specific approaches to ensure system stability, says Fernando Restoy
Netherlands Bank launches new website
Central bank structures new site around six main themes
Podcast: Fintech likely to gain greater foothold in Kazakhstan post-pandemic
Covid-19 has forced incumbents to innovate, allowing fintech firms to increase presence in the market
Carstens calls for ‘comprehensive’ oversight of big tech
BIS chief highlights “data-network-activities loop” driving big tech growth
China tightens regulations on non-bank payment firms
Central bank will scrutinise payments more closely and fine firms for rejecting cash
BIS to research prototype DLT green bond platform
Innovation hub sets up international network to share knowledge and address problems
New York Fed to establish ‘innovation centre’
Search begins for director, who will lead collaboration with BIS innovation hubs
Promoting fintech might reduce inequality – BIS’s Pereira da Silva
Inequality harms policy transmission, but technology may help, deputy general manager says
Nigeria’s central bank unveils sandbox and QR guidelines
Both initiatives should help foster innovation within the payment space