We therefore need to strive towards achieving a healthy balance when we respond to these developments. 2 Available at http://www.bis.org/cpmi/publ/d146.htm  BIS central bankers’ speeches  3  Recently, many central banks – including the Bank of England, the Reserve Bank of India, the Bank of Japan and the Singapore Monetary Authority – have launched FinTech working groups and/or collaboration.
In June 2016, the Bank of England advised that it would collaborate with FinTech firms on measures that could support its ‘mission’ as a central bank. The Reserve Bank of India has appointed an inter-agency FinTech working group to ‘review and appropriately reorient the regulatory framework and respond to the dynamics of the rapidly evolving FinTech scenario’.