Regulatory Tools to Encourage FinTech Innovations: The Innovation Hub and Regulatory Sandbox in International Practice
Year: 2018
Type: article
Abstract: In our study, we assess the regulatory tools that can be applied to encourage FinTech innovations, also focusing on the aims of financial stability.After reviewing the opportunities and risks of FinTech innovations from micro-and macro-prudential aspects and in terms of consumer protection, we present the kinds of possible regulatory responses to the challenges raised by FinTech phenomena and the regulatory tools which are applied in international practice.We analyse these practices from the aspect of legal implementation, detailing their similarities and differences.Finally, we briefly present Hungarian regulatory initiatives encouraging FinTech innovations.An assessment of international cases reveals that there is no generally effective, standardised solution that meets every geopolitical requirement: when the concepts are developed, the special features of the financial intermediary system of the given country and the level of financial culture must also be taken into account.
Source: Hitelintézeti szemle
Authors: Péter Fáykiss, Dániel Papp, Péter Sajtos, Ágnes Tőrös
Language: English
Subfield: Management Information Systems
Domain: Social Sciences
Open Access status: diamond
OpenAlex ID: W2809999716