Policy responses to fintech: a cross-country overview

Technological innovations in financial services (fintech) are increasingly transforming the way financial services are provided. While fintech opens opportunities, it also comes with potential risks. Financial authorities have responded to fintech developments in various ways. Based on survey responses from around 30 jurisdictions, this paper provides a cross-country overview of policy responses to fintech developments. In addition, building on the work by global standard-setting bodies and other international organisations, the paper proposes a conceptual framework through which to analyse policy responses to fintech, referred to as the "fintech tree". The fintech tree identifies three categories: fintech activities, enabling technologies and policy enablers.