Bank of England Governor: Fintech Brings Great Promise and Risks
Fintech is democratizing financial services, creating new benefits for businesses and consumers, but also posing new risks, Mark Carney, governor of the Bank of England and chair of the Financial Stability Board (FSM), told the Deutsche Bundesbank G20 conference on “Digitizing finance, financial inclusion and financial literacy” in Wiesbaden, Germany. As the risks emerge, government regulators need to maintain a strong focus on the regulatory perimeter, including a more disciplined management of operational and cyber risks, Carney noted in his presentation. By enabling technologies and....
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