Research Recap: How are evolving technologies transforming the future of banking?

By: Erica Ellis

“Central Banking in a Digital Age: Stock-Taking and Preliminary Thoughts”

Disciplines represented:

Fintech, banking, finance, technology

Schools/contributing organizations:

The Charles H. Dyson School of Applied Economics and Management


Eswar Prasad, Nandlal P. Tolani Senior Professor of International Trade Policy


As technology continues to evolve, so too must the industries that are impacted by such advancements. The banking industry is no exception, and one that has been greatly disrupted by technological advancements. Eswar Prasad’s research provides insight into the current banking landscape, specifically the practice of centralized banking.

With the emergence of newer technology and counter-currencies, such as bitcoin, centralized banking is becoming more and more decentralized. While there may be many benefits to having a more digitized and less centralized banking model, there are also areas of concern, such as cybersecurity, and many unknowns, such as how this new banking landscape would change international banking practices and currencies.

Publication information:

“Central Banking in a Digital Age: Stock-Taking and Preliminary Thoughts” was published in the journal, Hutchins Center on Fiscal & Monetary Policy at Brookings, in April 2018.

Read the full article to learn more about the impact of technology on banking.