Evolution and the Dynamism of Fintech and Its Regulation

Abstract

For authorities around the world, the explosive growth of financial technology, or fintech, has brought both opportunities and challenges. An overview of how international regulations are changing in response to the spread of fintech advances is given in this abstract. It looks at the main forces influencing regulatory reactions, the tactics regulators use to promote innovation while maintaining consumer protection and financial stability, and the new developments and difficulties facing global fintech regulation. Fintech's rise has upended established financial services by providing cutting-edge options for lending, wealth management, payments, and other areas. Because of this disruption, authorities have had to review existing regulatory frameworks in order to take into account new players in the market, technologies, and business models. The need to balance innovation and risk management, advance financial inclusion, and handle cross-border issues in a world economy that is becoming more integrated are important factors influencing regulatory solutions.