3  This is about five times the $ billion that was invested two years earlier. See R. Ghose et al., “Digital Disruption – How FinTech Is Forcing Banking to a Tipping Point,” Citigroup Inc., March 2016. BIS central bankers’ speeches  1  new service providers will become part of the financial ecosystem.
In some areas, this evolution is happening fast, while in others, the most transformative technologies still have developmental hurdles to clear. Finally, now is the time for financial institutions, new entrants and policy-makers to work together. That is the best way to create the right environment for modernizing the financial sector and sensibly managing the risks that arise. This applies to many areas.