Increased foreign competition will be very good for the BH economy. It will give depositors more choice and will force the local banks to improve the range and quality of the services they provide if they want to survive. One can already see these effects occuring after only a few months.
It is crucial that technology-neutral standards be established to ensure data availability for future generations. Coordination between statistical agencies, governments, academia and private companies is equally crucial. Timely and accurate information derived from non-traditional data sources, as well as new analytical techniques can help central banks to improve their knowledge of the economy and society, allowing them to make better-informed data-driven decisions.