1. bookVolume 11 (2022): Edition 2 (May 2022)
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License
Format
Magazine
eISSN
2336-9205
Première parution
11 Mar 2014
Périodicité
3 fois par an
Langues
Anglais
access type Accès libre

Fintech, Risk-Based Thinking and Cyber Risk

Publié en ligne: 30 Apr 2022
Volume & Edition: Volume 11 (2022) - Edition 2 (May 2022)
Pages: 27 - 53
Reçu: 30 Mar 2021
Accepté: 10 Aug 2021
Détails du magazine
License
Format
Magazine
eISSN
2336-9205
Première parution
11 Mar 2014
Périodicité
3 fois par an
Langues
Anglais
Abstract

Financial technology innovations (Fintech) are changing the provision of traditional financial services. Although they bring with them various benefits and opportunities, they also have weaknesses and pose potential threats to financial systems. The paper examines the latest developments in the area of Fintech and outlines the potential benefits and associated risks. It highlights the vital role of the monetary authorities in the context of the policies and initiatives required in order to modernize the financial system, including research and the potential issuance of central bank digital currency, while simultaneously fulfilling their core objectives of preserving monetary and financial stability. The authors highlight the importance of artificial intelligence in Fintech development. They create a Fintech SWOT to support and analyse the above. It goes on further to explain the new management concept of “Risk-based thinking” as a way to approach these potential opportunities and threats of Fintech. Finally, the paper looks at cyber risk in the Fintech landscape as the latest and potentially greatest threat springing from these turbulent and uncertain times.

Keywords

JEL Classification

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