ľ¹ÏÓ°Ôº

Skip to Main Navigation

Fintech and the Future of Finance

Fintech, the application of digital technology to financial services, is reshaping the future of finance¨C a process that the COVID-19 pandemic has accelerated. The ongoing digitization of financial services and money creates opportunities to build more inclusive and efficient financial services and promote economic development. Fintech is transforming the financial sector landscape rapidly and is blurring the boundaries of both financial firms and the financial sector. This  presents a paradigm shift that has various policy implications, including:

  • Foster beneficial innovation and competition, while managing the risks.
  • Broaden monitoring horizons and re-assess regulatory perimeters as embedding of financial services blurs the boundaries of the financial sector.
  • Be mindful of evolving policy tradeoffs as fintech adoption deepens.
  • Review regulatory, supervisory, and oversight frameworks to ensure they remain fit for purpose and enable the authorities to foster a safe, efficient, and inclusive financial system.
  • Anticipate market structure tendencies and proactively shape them to foster competition and contestability in the financial sector.
  • Modernize and open up financial infrastructures to enable competition and contestability.
  • Ensure public money remains fit for the digital world amid rapid advances in private money solutions.
  • Pursue strong cross-border coordination and sharing of information and best practices, given the supra-national nature of fintech.

MULTIMEDIA

Fintech Future Finance WB Live (780 ¡Á 439 px)
VIDEO Feb 24, 2023

A high-level panel of private and public sector representatives who share their perspectives on industry developments, regulatory responses, the impact to date, and the challenges and opportunities ahead.

Blog Series

  • Jul 13, 2023
  • Apr 19, 2023
  • Apr 17, 2023
  • Mar 07, 2023
  • Feb 24, 2023

Technical Notes

  • Future of Finance Techincal note image

    The Fintech Activity note takes stock of available fintech-related data, to document patterns of fintech activity across the world, and to help identify enabling factors.

  • Future of Finance Digital Survey image

    The Fintech Market Participants Survey discusses findings from the survey whose responses span 330 market participants from 109 countries.

  • Future of Finance Techincal note image

    The Market Structure note draws on the underlying economics of financial services and their industrial organization to examine the implications of digital innovation for market structure and attendant policies.

  • Future of Finance Technical note image

    The Regulation note aims to provide regulators and supervisors in emerging markets and developing economies (EMDEs) with high-level guidance on how to approach the regulating and supervising of fintech.

  • Consumer Protection Technical Note Future of Finance

    The Consumer Protection note provides an overview of new manifestations of consumer risks that are significant and cross-cutting across four key fintech products: digital microcredit, P2PL, investment-based crowdfunding, ...

  • Payments Technical Note Future of Finance.png

    The Payments note discusses the most significant innovations in payments and their key impacts and implications on users, banks and other payment service providers, regulators, and the overall structure of the payments ...

  • SME Technical Note Future of Finance

    The SME note discusses policy and regulatory approaches that can facilitate access to finance for small and medium enterprises (SMEs) through digital financial services.

  • ľ¹ÏÓ°Ôº

    The Digital Money note categorizes new digital money proposals including crypto-assets, stablecoins, and central bank digital currencies; assesses the supply and demand factors for their adoption; and lays out particular ...