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ARTICLE · 08 NOVEMBER 2017

Basel Committee On Banking Supervision Issues Consultative Document Highlighting Implications Of Fintech On Banks

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On August 31, the Basel Committee on Banking Supervision (the "BCBS") published a consultative document on the implications of Fintech for the financial sector.

CanadaTechnology
CyberLex Blog
CyberLex Blog
Brianne Paulin
Brianne Paulin
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On August 31, the Basel Committee on Banking Supervision (the "BCBS") published a consultative document on the implications of Fintech for the financial sector. The consultative document was produced by BCBS's task force mandated with identifying trends in Fintech developments and assessing the implication of those developments on the financial sector.

Parts I and II of the consultative document provide an overview of current trends and developments in Fintech. The report assesses Fintech developments, presents forward-looking scenarios, and includes case studies to better present individual risks and the potential impact of the forward-looking scenarios on banks.

The main findings of the study are presented in Part III, summarized in 10 key observations and recommendations for banks and supervisors, which will be the focus of this blog post.

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