(CCNEWS24) At the beginning of the videoconference the Federal Reserve Bank first focused on the consequences of the COVID-19 pandemic in the sense of increasing the widespread interest of companies as well as individuals in digital services and faster connectivity.
FRB recognizes that some payment technologies are more resilient, scalable and more flexible to respond to such a rapid changes in user’s behavior. At the same time, however, he adds that the Federal Reserve has been evaluating payment technology for some time and also is investing in cloud technology along with initiatives to modernize platforms.
