Report analyses recent developments in distributed ledger technology-based tokenisation, identifies vulnerabilities and sets out financial stability considerations for the FSB and standard-setting bodies.
Financial Innovation
The FSB defines Financial Innovation (“FinTech”) as technologically enabled innovation in financial services that could result in new business models, applications, processes or products with an associated material effect on financial markets and institutions and the provision of financial services. FinTech innovations are affecting many different areas of financial services.
The FSB, working with other international organisations, is monitoring FinTech activities and assessing their implications for financial stability. This work draws on the expertise of standard-setters and surveys of national authorities’ supervisory and regulatory approaches to FinTech activity. The FSB’s Financial Innovation Network looks at FinTech innovations from the perspective of financial stability. Among the issues that the FSB has considered and published reports on are the role of large technology companies providing financial services (BigTech), the use of technology by supervisors (SupTech) and the use of technology by regulated institutions to meet regulatory requirements (RegTech).
Analytical work has also focused on areas such as FinTech credit, digital currencies, distributed ledger technology, artificial intelligence and machine learning. This work has resulted in a better understanding of the benefits and risks FinTech may pose and is part of an ongoing dialogue between public, private and academic stakeholders..
Key Documents
22 October 2024
4 December 2023
The toolkit provides definitions and tools to help financial institutions to monitor, identify and manage risks arising from third-party services.
21 March 2022
Report analyses evolution of retail digital financial services provision by BigTechs, FinTechs and incumbent financial institutions during the COVID-19 pandemic.
Market developments and potential financial stability implications of the growth in BigTech financial services in emerging market and developing economies.
Market developments and financial stability implications of the use of SupTech and RegTech.
9 December 2019
Market developments and potential financial stability implications of the entry of BigTech in financial services.
9 December 2019
Financial stability implications of third party dependencies in cloud services by financial institutions.
6 June 2019
Report on the use of distributed ledger technologies and peer-to-peer lending.
14 February 2019
Assessment of the impact of FinTech on the structure of the financial system.
A report on the financial stability implications of artificial intelligence and machine learning in finance.
29 June 2017
Keynote speech by Svein Andresen, Secretary General of the Financial Stability Board, at the Cambridge Centre for Alternative Finance conference on Navigating the Contours of Alternative Finance.
27 June 2017
FSB analyses the potential financial stability implications from FinTech.
FSB and CGFS report considers trends in the growth of FinTech credit.
25 January 2017
Speech given by Mark Carney, Governor of the Bank of England and Chair of the Financial Stability Board, for the G20 conference on “Digitising finance, financial inclusion and financial literacy”, Wiesbaden.
3 November 2016
Remarks given by Svein Andresen, Secretary General of the Financial Stability Board, at the Chatham House conference on The Banking Revolution: Global Regulatory Developments and their Industry Impact.
