Regulation for Responsible and Competitive Financial Sector Innovation

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The proposed project will focus on helping ASBA (Association of Supervisors of Banks of the Americas) to devise guidance for LAC regulators to deal properly with innovation in the financial sector. The influence of new technologies is setting the stage for numerous changes in the financial sector in – at the least – three levels: new services and delivery channels for final clients, back-office innovations (cloud computing and blockchain) and new entrants to the financial sector (e.g. fintech companies). This project will help regulators to structure discussions and proper guidance to take full advantage of new technologies while at the same time maintaining proper standards of regulation and supervision.