In a recent report, the Organization for Economic Cooperation and Development (hereafter, “OECD”) observed that the digitization of financial services has boosted productivity.
OECD studies show that a 10 percent increase in financial sector digitization corresponds to a 0.1 percent increase in productivity growth.
To ensure further growth, the OECD calls for:
– increase investment in digital infrastructure;
– promote competition in the communications sector;
– increase high-level skills training.