At the Federal Reserve, we support the responsible use of technology and innovation to transform the financial system and reduce frictions and delays, while preserving consumer protections, data privacy and security, and financial stability.
But as technology continues to advance, the intricacies of our digital world become more complex, and I believe we can help ensure that banks are well positioned to take advantage of these technology advancements and innovations. Like the rest of the financial industry, community banks are investing in new technologies and innovations to meet the growing expectations of their customers.