Fintech: The Experience so Far

The IMF and the World Bank Group launched at the 2018 Annual Meetings the Bali Fintech Agenda (BFA), a framework of high-level issues that countries should consider in their own domestic fintech policy discussions. The BFA is organized around a set of twelve elements aimed at helping member countries to harness the benefits and opportunities of rapid advances in financial technology that are transforming the provision of financial services, while, at the same time, managing its risks.

This paper is a follow up to the BFA and takes stock of country fintech experiences and identifies key emerging trends and policy issues confronting member countries and the international community, in light of the rapid transformation brought about by fintech and the rising engagements of the IMF and the World Bank regarding fintech-related issues and within their respective mandates.