PriyaPatel
TLDR:
- Central banks are establishing dedicated fintech units to stay ahead of technological change.
- The Fintech Benchmarks 2024 report analyzes how central banks structure their fintech teams and use financial technology.
Staying on top of technological change is a growing challenge for central banks, leading many to establish dedicated fintech units. The Fintech Benchmarks 2024 model banks analysis explores how central banks structure their fintech teams and apply financial technology in their work. The data reveals that fintech teams tend to be small, but larger institutions are more likely to have dedicated teams. Some themes stand out:
Fintech Teams:
Central banks structure their fintech teams differently, with some having dedicated teams while others do not.
Application of Financial Technology:
Central banks are utilizing financial technology in various ways to improve their operations.
Overall, the report highlights the importance of central banks adapting to technological advancements in the financial sector to enhance their efficiency and effectiveness.
