In developing economic regions, the figure soared to an astounding 89%, whereas the primary concern of central banks in developed economies was the upgrading of their extant infrastructure systems.

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Eighty percent of central banks were of the opinion that the introduction of central bank digital currencies (CBDCs) would undoubtedly increase cyber security threats.

The convergence of finance and technology in the current digital era has produced a surge of innovative products and services. However, this swift evolution has presented traditional financial institutions, particularly central banks, with significant challenges.

This concern was highlighted by the survey conducted during Fintech Benchmarks 2023.
Seventy-three percent of central banks have expressed difficulty assuring regulatory compliance for these emerging Fintech solutions. In economies that are still in the process of developing, the problem is even more pronounced, reaching an alarming 89%.

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Intriguingly, central banks in developed economies have varying concerns. Their primary concern is the modernization of their antiquated systems, not regulation. These institutions are struggling to integrate their legacy systems with the digital economy's rapid evolution.
The introduction of CBDCs is a crucial aspect of this digital revolution. However, CBDCs have not been greeted with universal enthusiasm.

The vast majority of central banks, 80 percent to be exact, believe that the introduction of CBDCs could increase cyber threats. This fear originates from the fact that while digitization offers numerous benefits, it also creates new cyberattack vulnerabilities.