The approach should be to have in place the best standards of governance as early as possible. In many areas, we have made progress in setting out what needs to be done. It is important now to put in place implementation and enforcement mechanisms, early warning systems and prompt corrective action strategies. VIII.
Technology, payment and settlement system  The information technology revolution has brought about a fundamental transformation ushering in, as Alvin Toffler describes it, the fourth wave. Perhaps no other sector has been affected by advances in technology as much as banking and finance. It has become the most important factor for dealing with the intensifying competition and the rapid proliferation of financial innovations.