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Kuroda Says BoJ May Apply FinTech To Operations In Future

The Bank of Japan may use financial technology, or FinTech, to its operations in future as its influence on payments, settlements and financial services keeps growing and stimulates economic activities, Governor Haruhiko Kuroda said Tuesday.

"The Bank of Japan is ready to lead research and analysis on FinTech, in view of the possibility that the Bank itself may apply FinTech technologies to its operations in the future," Kuroda said in a speech at the FinTech Forum in Tokyo.

"The Bank, as the central bank of Japan, is ready to make its best efforts to support the sound development of FinTech in order to enhance the welfare of financial service users as well as economic activities."

The Japanese central bank established a FinTech center and network in April that works to promote the sharing of information and expertise related to the technology.

Kuroda also said that it was extremely important to realize positive and interactive communication among a broad spectrum of entities beyond the traditional financial industry to include IT enterprises, retailers, start-ups and others.

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