“Ignoring technological change in a financial system based upon technology is like a mouse starving to death because someone moved their cheese” – Chris Skinner
The growing impact of digital technology in the financial services sector (Fintech) is on the agenda for regulators and supervisory bodies across the globe. Many are creating ‘regulatory sandboxes’ as controlled environments within which innovation can occur.
“Fin-Tech and banks need a cultural reconciliation: risk appetite and tolerate trial and errors” – Hugues Delcourt
The regulation of Fintech presents both opportunities and challenges for regulators, Fintech companies and more traditional financial institutions alike.
We help our clients to understand and navigate the rules governing not only their participation in the financial services environment, but also the financial products they create and sell in the market.
Technology-enabled innovations in financial
services around the world:
- Technology innovation 1: Mobile phones/Internet –sharing economy
- Technology Innovation 2: Artificial intelligence,Machine Learning, and Big Data
- Technology innovation 3: Blockchain or distributed ledger technology (DLT)
- Technology innovation 4: Cloud computing