FinTech World Scenario


Regulation organisms and national, international supervisors show a better awareness of Fintech world. The first question is, how Did they get an innovate regulation without any risk or latent arbitration?

Many supervisors authorities and regulation organisms try to mitigate FinTech technologies practices originated by “over the counter” market because in regulating market there are many standard procedures that they have to respect.

Innovation in regulating market has been scheduled in this way:
• Innovation hub, the institutional environment characterized by supervised companies and not, where the regulate organism gave tips and clarifications;
• Regulatory sandbox; is a place where supervised companies and not, do practices with new regulation;
• Incubators, supervisors act directly in new projects as business partners or influence asset income.

How many supervisors can we recognize in FinTech panorama?
In FinTech panorama we can recognize:
Financial Stability Board (FSB), this supervisor organism schedule a list of tasks and ‘’have to’’ in cyber risk, operative risk and macro-prudential
• Basel Committee on Banking Supervision (BCBS), the task force focused on the evaluation that risks and innovation opportunity build in the banking system. This year, Basel Committee started a public consulting about FinTech better standards adopting. The BCBS is studying the potential impact of new FinTech products

EBA, ESMA, EIOPA, these organizations have published an automated standard consulting and financial intermediations, based and focused on risks and pros of customer and financial companies.
• BCE, in September 2017, BCE published consultation guidelines for entrepreneurial models applied to the banking system.

Fintech products

• Smart tech, technologies for remote operations and new types of contracts;
• Supporting technologies like Big Data Analysis, AI (artificial intelligence); Cloud computing, IOT (internet of things);
• Payment services represent the twenty-three percent of reported initiatives, the most brilliant is P2P(peer to peer) payment.
• Crowdfunding
• Virtual Currencies
• DLT and smart contracts

Giorgio Chiriatti

FinTech World Scenario
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