The White Paper on Fintech

FINTECH is no longer an unfamiliar term for most consumers. "Fintech" acronym that comes and the contraction of the words "finance" and "technology" refers to that part of the banking sertor based on technologies of information and communication to create or provide financial services by reducing costs and increasing efficiency and effectiveness.

Although, as companies in the banking sector, most of the regulation that currently exists affects them, their particular features make it increasingly necessary to develop a specific regulation for them. Logical, on the other hand, since as we have maintained, the digital disruption is much more than a new communication channel or a new medium: it is an economic and social leap.

From the Spanish Association of Fintech and Insurtech (AEFI) They have been requesting for some time that regulation for Fintech with supervisors and regulators newly created specific and outside the CNMV and the Bank of Spain is prepared.

El White book, Which has been funded through techniques crowdfunding, has had the support of the AEFI itself, the Institute of Studies Bursátiles (IEB) or Ebury and seeks, among other things, develop guidelines and standards in the sector to encourage and help the future regulation is implemented, offering industry data as magnitudes comparable regulatory experiences, proposals, plateamiento of objectives in the medium and long term, etc., all in the line enable the sector specific regulation possible for this way to increase efficiency and competitiveness of the sector.

by: @MiguelOrtego
Source image: Google

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