A number of recent technology-enabled enterprise models for deposit-taking, credit score intermediation and capital elevating have emerged lately.
Specifically, the proliferation of digital banking and financing through web-based platforms (fintech steadiness sheet lending and crowdfunding) raises the query of the place the regulatory perimeter ought to be drawn. Monetary authorities now face the duty of deciding whether or not their regulatory framework must be adjusted to account for these new fintech actions. To take action, they might want to take into account a lot of components.
This paper explores how digital banking and fintech platform financing are regulated and offers a cross-country overview of the regulatory necessities for fintech actions in 30 jurisdictions.
JEL classification: G18, G21, G23, G28, O30, O38.