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Ms Dragana Stanić (Vice-Governor, National Bank of Serbia) in her keynote pointed to the technology changes in the field of finance. The new age of big data, artificial intelligence, machine learning, and digital identities will bring even bigger changes to financial markets, regulators and the entire financial industry. Some have predicted the end of traditional banking she added, but today we are at the verge of partnership between the fast fintech industry and traditional banking. The number of users in the field of mobile banking has expanded significantly, more than 20-fold in the last eight years in Serbia.
Central banks will have to constantly adjust the regulation to match the new ways of doing business. Back in 2014, the Central Bank of Serbia started the essential reform of payment services and the financial environment.
The Instant Payment System of the Central Bank of Serbia was established earlier in 2018, Stanic added. More than two million transactions have been made so far and the net worth of these transactions is more than three hundred billion RS dinars.
By Katarina Andjelković and Arvin Kamberi