This year’s SEACEN Centre Policy Summit in Kuala Lumpur in mid-June was on the very salient topic of “Central Bank Leadership in Combating Cyber Risk.”
Technology has given birth to a new era in banking that brings efficiency gains for financial institutions, improved access to services by consumers and fosters financial inclusion. In the field of payments, services are increasingly instant, 24/7 and globally available. Non-bank participants, meanwhile, are disrupting traditional intermediation. Artificial intelligence and machine learning are just two of the innovations promising to revolutionise financial services.