The Big Tech/FinTech Disruption
A new report by the Financial Stability Board argues that the Big Tech could “affect the degree of concentration and contestability in financial services, with both potential benefits and risks for financial stability.” Managing the risks will require much more than vigilance by banking supervisors.
https://prosyn.org/9AGOajT
LONDON – As its Valentine’s Day present to the world, the Financial Stability Board (FSB) in Basel published a report on financial technology, or fintech, and market structure in financial services. The subtitle was more insightful, and revealed the authors’ intentions: “market developments and potential financial stability implications.”