Christine Lagarde, FMI: “disruptors” are having a clear impact on the banking sector. Distributed ledger technologies like cryptocurrencies and digital assets are “shaking the system”.

15 aprilie 2019

Financial technologies such as digital currencies are “shaking” the banking system and must be monitored to maintain stability, according to the head of the International Monetary Fund. Speaking to CNBC, IMF Managing Director Christine Lagarde pointed to the changing business models of commercial banks as evidence that innovations like cryptocurrencies are having a clear impact on financial sector incumbents.

“I think the role of the disruptors and anything that is using distributed ledger technology, whether you call it crypto, assets, currencies, or whatever … that is clearly shaking the system,” she said.


The IMF boss warned that such financial industry changes must be accompanied by regulation.

“We don’t want innovation that would shake the system so much that we would lose the stability that is needed,” she said.
Start-ups and big tech companies alike are increasingly eyeing the banking sector as a multitrillion-dollar market ripe for disruption. Facebook is reportedly developing its own cryptocurrency and Apple released its own credit card in partnership with Goldman Sachs last month.

Banks have responded with their own attempts to embrace new technology. JPMorgan is trialing a digital token called “JPM Coin” that would instantly settle payments between clients and Goldman Sachs is expanding its digital retail bank called Marcus overseas.

Lagarde said technology companies entering the banking space “forcefully” must be subject to regulation.

“They will have to be held accountable so that they can be fully trusted,” she said.

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Gabriela Nistor – director general adjunct BT

Tendinţele pe care le-am remarcat înainte de începerea pandemiei s-au accelerat pe perioada stării de urgenţă. Am văzut acest lucru ca o oportunitate, un tipping point pentru bancă. Post-pandemie nu avem cum sa ne întoarcem la comportamentul financiar pe care îl aveam până în februarie a.c. Relaţia românilor cu online-ul s-a schimbat. In plus, cardul fizic se va dematerializa. Vom asista la o scădere a cererii pentru cardurile fizice, respectiv la o creştere a preferinţei pentru componenta digitală a acestora.”

Sondaj

In 23 septembrie 2019, BNR a anuntat infiintarea unui Fintech Innovation Hub pentru a sustine inovatia in domeniul serviciilor financiare si de plata. In acest sens, care credeti ca ar trebui sa fie urmatorul pas al bancii centrale?