Based on technical assistance to central banks by the IMF's Monetary and Capital Markets Department and Information Technology Department, this paper examines fintech and the related area of cybersecurity from the perspective of central bank risk management. The paper draws on findings from the...

There is not a uniform view of the link between cyber risk and systemic risk: some assume a direct link whereas others query the connection.Beyond nation states, the vast majority of independent cyber attackers are currently unlikely to have the capability to systemically impact the financial...

The ability of attackers to undermine, disrupt and disable information and communication technology systems used by financial institutions is a threat to financial stability and one that requires additional attention

A major cyber-incident in the financial sector can spiral into financial instability, cause liquidity shocks, and potentially a solvency crisis. Considering cybersecurity as a public good, governments have a significant role in crafting coordinated cyber strategies and incident responses....

This paper presents a framework to study of technological resiliency of financial system architecture. Financial market infrastructures, or platforms, compete with services critical functions along various stages in the lifecycle of a trade, and make investments in technological resiliency to...

In Latin America and the Caribbean (LAC), financial technology has been growing rapidly and is on the agenda of many policy makers. Fintech provides opportunities to deepen financial development, competition, innovation, and inclusion in the region but also creates new and only partially...