Digital technology has made far-reaching inroads in the financial industry. The inherent risks associated with digital technology in banking and finance cannot be understated. Regulatory authorities in most parts of the world face a formidable task: to get the right kind of skills for a job that needs to be done right now!! One of the most obvious challenges is capacity building.
More specifically, policies geared towards better education and research subsidy systems, efficient and flexible product and labour markets, and well-developed financial systems will be beneficial to long-term productivity growth and prosperity in the euro area.