I have had the opportunity to participate in a number of fascinating discussions about fintech in recent months – with my colleagues at the Financial Stability Board and other international organizations, as well as with fintech entrepreneurs and traditional financial institutions around the world.
I can tell you that, despite the hype, no one knows yet what the social and economic payoff of these investments will be. And because it is early days, no one knows for sure what fintech developments will ultimately mean for business models or for the financial system more generally. But we are all trying to figure it out.