The BusinessDay CEO Magazine_September 2017 Issue
Create successful ePaper yourself
Turn your PDF publications into a flip-book with our unique Google optimized e-Paper software.
<strong>The</strong> <strong>BusinessDay</strong> <strong>CEO</strong>, Sept <strong>2017</strong> | 49<br />
THE<br />
FINTECH<br />
CHALLENGE<br />
AND THE<br />
NEW FACE<br />
OF BANKING (2)<br />
BY AUSTIN OKERE<br />
This is the concluding part of the two part series.<br />
MONEY IS GOING DIGITAL<br />
Around the world, central banks from England to China have<br />
publicly floated the notion of issuing their own national digital<br />
currencies. Conceptually, they like the idea of harnessing the<br />
upside of the digital revolution; mobile payments in particular,<br />
while preserving the existing legal and regulatory set up. Practically,<br />
they expect significant cost savings, a reduction of operational and<br />
fraud risks in the current payments systems, and a strengthened<br />
ability to execute monetary policy.
Change language