BIS paper delves into new fintech database
Authors investigate rise of “big tech credit” in many economies
Credit provided by big tech firms and other forms of fintech are proliferating in many countries, according to a new dataset released by the Bank for International Settlements.
A team of economists unpacks some initial findings from the data in a new working paper. They estimate that fintech and “big tech credit” hit $795 billion globally in 2019, with big tech making up $572 billion of the total. Growth has been “particularly rapid” in Asia, but some countries in Latin America and Africa have
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