Digital Identity in Fintech Regulation: Explores the Role of Regulation on Digital ID in the Fintech Industry

Digital Identity in Fintech Regulation: Explores the Role of Regulation on Digital ID in the Fintech Industry

Jasmine Kit Ching Ng (Institute Corporate Directors, Malaysia & Securities Commission of Malaysia, Malaysia)
Copyright: © 2025 |Pages: 36
DOI: 10.4018/979-8-3693-3803-2.ch014
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Abstract

This chapter explores fintech's digital identity (ID) regulation, its evolution, challenges, and future. It underscores digital ID's vital role in secure, inclusive financial transactions. Regulatory literature, notably EU's eIDAS Regulation and PSD2 directive, is reviewed. Despite hurdles like fragmentation, regulatory interventions bolster security and compliance. SWOT analysis reveals strengths, weaknesses, opportunities, and threats. Recommendations advocate for standards harmonization, cybersecurity mitigation, and regulatory innovation. The chapter reflects on digital ID regulation's pivotal role in shaping fintech, emphasizing regulatory frameworks' necessity for fostering responsible innovation.
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