Banks will adapt to fintech: Ellis

  • Banks will adapt to fintech: Ellis – Yahoo7
  • The financial sector will likely adapt to and use new financial technology like Bitcoin, the Reserve Bank says.
  • The RBA says the financial sector will likely adapt to new financial technology like Bitcoin.
  • RBA head of financial stability department Luci Ellis downplayed the risks posed by emerging financial technologies – known as “fintech” – to the established financial system.
  • “It’s hard to see it in the short to medium term as anything other than, well, you know the financial sector always innovates and there will be some interesting things, and some might pose risks, but not all of them.”

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@BanksDaily: “The financial sector will likely adapt to and use new financial technology like #Bitcoin, the RBA says.”


Banks are more likely to adapt to fintech than be disrupted by it, the RBA says.


Banks will adapt to fintech: Ellis