Fintech: Opportunities, risks and challenges
A speech by Greg Medcraft, Chairman, Australian Securities and Investments Commission, Group of 100, National Executive Dinner (Sydney, Australia), 14 December 2016
I would like to focus today on the role financial technology (fintech) is playing in re-fashioning financial services and capital markets. This is something around the world that policymakers and regulators are squarely focused on.
Firstly, I will talk about the potential impact of fintech developments – and the opportunities, benefits and risks they bring. I will then outline the challenges that regulators and policymakers face in addressing these opportunities and risks – and how we are responding.