Fintech will be the future of financial services, according to the managing director of the Monetary Authority of Singapore (MAS).

Speaking in Washington at the annual International Monetary Fund and World Bank meetings, Ravi Menon discussed with peers the pros and cons technology would bring the financial sector in years to come.

“This is going to be a dramatic adjustment both the industry and regulatory community needs to make,” he said.

“Three years ago, we had a very strong hunch and