Digitalisation of finance

The Basel Committee on Banking Supervision has published a report which considers the implications of the ongoing digitalisation of finance on banks and supervision. This report builds on the Sound Practices: Implications of fintech developments for banks and bank supervisors published in 2018, and takes stock of recent developments in the digitalisation of finance.

The report considers both the benefits and risks of new technologies and the emergence of new technologically enabled suppliers on the provision of banking services. It identifies eight implications for banks and supervisors relating to macro-structural elements, specific digitalisation themes, and capacity building and coordination.