Fintech can surely solve these frictions – platform-based solutions can make real time price discovery possible even for retail sized transactions. CBDCs, if both countries have it, can make time zone differences disappear by replacing bank settlements with currency delivery which can take place even if the payment 3/4  BIS central bankers' speeches  systems are closed. 19.
Another area where fintech holds promise is to prevent digital frauds, which has become apparent as the pace of digital penetration has outstripped development of awareness. Digital Frauds1: Incidents of digital frauds risen during the pandemic. Data from American consumer credit reporting agency TransUnion has found that fraudsters are ramping up their efforts in the financial services industry.