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Supervising digital banks in a Covid-19 world

Financial supervisors will need to strengthen their surveillance and supervisory capabilities to identify emerging risks and assess how players in the market are responding to these risks.

New digital banks fuel innovation and encourage incumbent banks to respond to the new competitive landscape, and the resulting economic growth spurs further investments in technology and data analytics, thereby contributing to further development and competitiveness of the financial services industry.

DIGITAL banks - and other applications of new technology in financial services - sit at the confluence of public policy and financial stability objectives. Although the approach to digital bank licensing varies across the Asia-Pacific, financial supervisors have - on the whole - adopted similar...

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