A WEF white paper highlighted that in order to improve risk management, it is important to highlight that the right tools should be used, including: 7 a.  data on the emerging new innovation and its potential impact;  b.  assessment tools for the systemic risks introduced by innovation;  c.  a more standardised regulatory treatment framework for new competitors across jurisdictions; and  d.  an improved mechanism for public-private cooperation to combat cyberattacks.
A further key regulatory consideration is to support initiatives that could assist in easing frictional costs, within the system and the economy, and to respond to the need for all interbank payments to be processed and finalised in near real-time. Cybersecurity There is no doubt that cyber-threats have increased substantially over the past few years.