This is particularly the case with the Bali FinTech Agenda – the IMF’s blueprint for FinTech development, produced together with the World Bank. Being one of the jurisdictions to take on the FinTech challenge early on, this shows that the overall direction we have chosen has put us on the right track.
One example of our good practice is opening up the Bank of Lithuania’s payment infrastructure to non-banking entities. Now they can directly, – without the middlemen – access the Single Euro Payments Area through our CENTROlink payment platform. Today, out of the total 80 users of the CENTROlink, over three quarters are e-money and payment institutions.