On the other hand, if we are striving for an international monetary order in which crises are the exception, the Fund has to have a greater role in prevention. In this respect, the discussions that have taken place in most international fora after the burst of the crisis have focussed mainly on strengthened regulatory and prudential measures, not on macroeconomic surveilance.
For the purposes of our discussion today, I will be focusing on financial innovation supported by new technologies, or fintech. 1 In the fall of 2017, we managed to get Chris to accept an invitation to speak at a fintech conference in Ann Arbor, so it's about time that I returned the favor.