Tracey McDermott is group head of conduct, financial crime and compliance at Standard Chartered. She was previously acting chief executive at the Financial Conduct Authority, and sits on the Bank of England's central bank digital currency engagement forum

With the economy swiftly digitising, banks, governments and regulators are all working to innovate to keep up. As we work on digital tools to make commerce and everyday life easier, we need to be guided by what consumers and businesses will expect and need in the digital economy. And increasingly this means we need to think about money: what it is, and how it works.