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GC Asia
IMF, BIS hail potential for fintech to tackle financial exclusion
The heads of two of the world’s leading global financial regulators have hailed the potential of financial technology to help lift people out of poverty by connecting them to the banking system. But both Agustín Carstens, General Manager of the Bank for International Settlements, and Christine Lagarde, the managing director of the International Monetary Fund, warned of potential risks.
Carstens said on Thursday that new technology could play a crucial role in breaking down barriers to increased participation for both citizens and financial institutions.
His intervention came as Lagarde said fintech could play a “catalysing role” in alleviating poverty by bringing poorer people into the financial system.
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Latest news from People & Markets
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SRI / Green Bonds
EBRD to turn half green, despite opposition from US
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Comment
The CARES Act, liquidity tracked and green AT1s unpacked
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People & Markets
EU court quashes Crédit Agricole fines
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People & Markets
China markets round-up: Credit Suisse plans full control of China JV, Sina chair proposes Nasdaq exit, former CSRC head calls for delisting reform
