Our focus rather, is to ensure that where innovation facilitates new and better solutions, it does so in a framework which does not prevent regulators from meeting their mandates and strategic responsibilities. The Central Bank’s approach to financial innovation The Central Bank is proactively seeking to understand and anticipate how innovation is changing financial services provision.
The governance structures of the latter must be much more formal and transparent, so that all of the different types of stakeholders in a firm can be confident that their own legitimate interests are properly taken into account in the management of the firm.