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    BCBS Consults on Implications of Fintech for Banks and Supervisors

    August 31, 2017

    BCBS released a consultation paper that assesses how technology-driven innovation in financial services (fintech) may affect the banking industry and the activities of supervisors in the near to medium term. The paper combines historical research, analysis of current media and industry periodicals, surveys on BCBS members’ activities, fintech product analysis, and scenario analysis to provide a forward-looking perspective on fintech and its potential impact on the banking industry. Comments are due by October 31, 2017.

    Based on its assessment, BCBS identified 10 key observations and related recommendations on supervisory issues for consideration by banks and bank supervisors. The assessment contains three case studies with focus on technology developments (big data, distributed ledger technology, and cloud computing) and three case studies with focus on fintech business models (innovative payment services, lending platforms, and neo-banks). The rapid adoption of enabling technologies and emergence of new business models pose an increasing challenge to incumbent banks in almost all the scenarios considered. 


    Related Link: Consultative Report (PDF)

    Comment Due Date: October 31, 2017

    Keywords: International, Banking, Fintech, Regtech, BCBS

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