UK: Bank of England Publishes Paper Regarding Ways to Embrace Potentials of Fintech

On March 22, 2019, the Bank of England (BoE) released a paper titled “Embracing the promise of fintech”, which discusses the potential that fintech shows and how this can be harnessed in a way that will support the central bank’s objective of maintaining the country’s financial and monetary stability.

As payments become all the more digital based on innovative payments solutions such as contactless cards and mobile wallet technologies, the bank’s adopted approach towards fintech focuses on three elements:

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