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Discussion on Open Finance: From Regulatory Diffusion to Industry Transformation

If ‘open banking’ is anything to go by, creating interoperability in fintech markets leads to the emergence of a few big winners, a number of compliance failures, and dozens if not hundreds of ambitious...

New risks deriving from digital financial innovation

The rapid digital transformation of the financial services sector has been deeply impacting the way consumers interact with financial institutions. The emergence of new financial players, services and products is changing the market structure and reshaping the way transactions are carried out. While technology can foster innovation in the financial sector, it also exacerbates a variety of risks, among which are ones related to money laundering and terrorist financing (ML/TF). These cross-sectoral risks are being increasingly addressed from a regulatory and supervisory point of view at both the international and European levels.


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