NextBillion - An Initiative of the William Davidson Institute at the University of Michigan

The International Monetary Fund and the World Bank jointly released a paper that will guide policymakers around the world in their handling of the rise of financial technology — commonly known as fintech.

The paper, called the Bali Fintech Agenda, was launched on Thursday on the Indonesian island where the IMF and the World Bank are holding their annual meetings.

The paper outlines 12 “elements” or considerations that the IMF, the World Bank and governments can keep in mind when designing policies and regulations that can maximize the benefits of fintech while keeping financial systems sound.

Photo courtesy of lirneasia.