COVID-19 spurred a rise in FinTech. Now regulators are catching up.

COVID-19 spurred a rise in FinTech. Now regulators are catching up.

COVID-19 has increased the prioritization of Financial Technology (FinTech) among financial regulators, according to a new study.

However, it has also posed a number of key challenges in the regulatory approach to FinTech and digital financial services.

Regulators are responding through introducing and accelerating innovative initiatives.



COVID-19 has accelerated the digitization of everything from education to the workplace to grocery shopping. The financial services industry is no exception to this, with financial technology (fintech) playing a critical role in reducing coronavirus risks associated with exchanging cash, helping micro, small and medium enterprises (MSMEs) and supporting financial inclusion in developing markets during the pandemic and beyond.

However, unlike grocery shopping, financial services tend to be a highly regulated sector where the pace of innovation and change at times outstrips