BIS: Sound practices: implications of fintech developments for banks and bank supervisors

Further to an August 2017 consultation, BIS has now published this report which considers how fintech may affect the banking industry and the activities of supervisors in the near to medium term. It includes case studies on technology developments and fintech business models and highlights a number of supervisory issues, including key risks for banks related to fintech developments; the use of third parties; cross-sectoral cooperation between bank supervisors and other relevant authorities; international cooperation between bank supervisors and potential opportunities for supervisors to use innovative technologies and regulatory initiatives in order to facilitate fintech innovation.