BOJ might get down to fintech in its operations in future
The BOJ Governor Haruhiko Kuroda informed that the country’s major financial institution might apply financial technology known as fintech to its financial operations in the future. The given measure has been already justified by surging influence on global payments, settlements as well as financial services.
The Bank of Japan is geared up towards leading research and analysis for the purpose of promoting fintech in Japan, considering the fact that it’s already facing a number of implications for central banking, as Kuroda revealed at a seminar hosted by the BOJ on fintech on Tuesday.
The BOJ is about to make its best efforts in order to back up the sound development of fintech to spur the welfare of financial service users and also economic activities.
Fintech involves newly enabled technologies, which companies utilize to make financial services more effective.
Japan is currently moving to ease investment limits, which could free up the flow of capital in the national economy already sitting on an estimated $9 trillion in individuals' cash deposits.