Whether the agents in the payments market are banks, specialised payment service providers or multinational technology companies, authorities have a responsibility to safeguard against systemic stability problems. Regulating and monitoring of risks will remain as important in the future as today.
Slide 4: Denmark is a digital front-runner The Nordic countries are among the digital front runners and digitisation has already affected the financial system significantly. At the beginning of 2017, less than 5 percent of the Danish money supply was made up of banknotes and coins. Furthermore, the use of cash is rapidly diminishing.