The International Monetary Fund and the World Bank Group Launch the Bali Fintech Agenda

The International Monetary Fund and the World Bank Group last week launched The Bali Fintech Agenda: A Blueprint for Successfully Harnessing Fintech’s Opportunities, a set of 12 policy elements aimed at helping member countries to harness the benefits and opportunities of rapid advances in financial technology that are transforming the provision of banking services, while at the same time managing the inherent risks.

The Agenda proposes a framework of high-level issues that countries should consider in their own domestic policy discussions and aims to guide staff from the two institutions in their own work and dialogue with national authorities. The 12 elements were distilled from members’ own experiences and cover topics relating broadly to enabling fintech; ensuring financial sector resilience; addressing risks; and promoting international cooperation.