Fintech, Regtech and the Role of Compliance in 2020: Budget and Skilled Resources, Increasing Role of Technology in Personal Liability
“Technological innovation has the power to create new services for consumers but also to reshape financial market structures. The whole value chain is being impacted by fintech as well as by big techs, which are introducing almost every day new ways to pay, to provide credit, to get insurance and, of course, to invest within capital markets. By doing so, they are also modifying the financial ecosystem that we supervise and may contribute to an increase or a shift of risks in the financial system.”
Denis Beau, first deputy governor of the Bank of France, November 2019.