Bundesbank board member calls for equal treatment of fintech by regulators
No ‘imaginary line’ between banks and fintech, says Dombret
Financial regulators must use the same underlying principles when regulating both financial technology companies and banks, a member of the executive board of the Bundesbank said on November 6.
Banks "are not destined to become obsolete" because of the potential challenge from financial technology, or fintech, companies, said Andreas Dombret, in a speech to a conference in Frankfurt.
While some fintech companies were setting up in direct competition with some of banks' more profitable
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