Last week the Financial Sector Advisory Center (FinSAC) co-hosted a Conference on Fintech in Vienna. It brought together regulators, supervisors, donors, standard-setting bodies, and private sector representatives to gain a deeper understanding on some of the more pertinent fintech themes of concern to many developing countries. FinSAC propelled the wave of energy and momentum that many public and private partners and counterparts have been experiencing since the launch of the Bali Fintech Agenda at the joint WB/IMF Annual Meetings in 2018, discussing the new challenges and the associated risks. There was a clear sense of fascination blended with anxiety among country authorities and stakeholders, with an overall recognition of the unprecedented opportunities and ways to do things differently. The world of finance, for many economies, is rapidly shifting – compounded by high stakes relating to debt, demand for jobs… — blog.wb.org/blogs
A version of this article appears in print on June 04, 2019 of The Himalayan Times.