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Financial stability implications of fintech on banking merit regulators’ attention, FSB says

( February 14, 2019, 17:00 GMT | Official Statement) -- MLex Summary: The growing influence of financial technology could have stability implications, especially in light of such trends as open banking, cloud computing and the entry of large tech firms into finance, the Financial Stability Board has said. The in-depth report on fintech looked at the changing dynamics of the global financial industry and factors such as technology and regulations that are driving those changes, and also flagged areas of risk that warrant attention from regulators, such as Big Tech and cloud computing.Statement follows. The report is attached....

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