Government Response to FinTechs

Abstract

Technological innovations in the financial sector are transforming the provision of financial services. Fintech is one such innovation that not only provides opportunities (such as financial development and inclusion) but also brings various potential risks to consumers and investors. These risks also threaten the stability and integrity of global financial system. As such, financial regulators across the globe are adjusting their regulatory regimes and continue to provide and develop guidelines to mitigate these risks. This study provides a cross-country review of fintech policy responses of developed world.