Ladies and gentlemen, the changing digital landscape is here and now. To stay relevant is to remain vigilant and agile to these changes. This should compel us to be open-minded and hopefully, through these new ways of thinking, we are able to fully harness fintech innovations to unlock financial inclusion barriers and facilitate digital financial transactions in ways never been seen before.
It is true, of course, that many European banks have made a lot of progress. They have significantly raised their capital and liquidity buffers, they have got rid of a lot of bad assets, they have refocused their business, and they have streamlined their cross-border activities. So far so good! But even though banks have started doing their homework, they haven’t finished yet.