Basel Committee offers guide to fintech revolution
Document offers guidelines to supervisors grappling with rapid innovation
The Basel Committee on Banking Supervision (BCBS) offers advice to supervisors facing up to potentially disruptive financial technology (fintech) innovations in a document published today (August 31), envisaging a range of scenarios, including the total disintermediation of banks.
The consultative document looks at case studies for different kinds of technology, and considers scenarios for the future shape of the banking sector – all of them posing serious challenges for traditional banks – and
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