Designing a Governance Framework for the Global Financial Systems – Regulations and Promotion

By Naoyuki Iwashita and Yoshi Matsuda

Abstract

FinTech is a dynamic segment at the intersection of the financial services and technology sectors. Innovation and evolution of FinTech are reforming the financial systems. FinTech has become an integral part of the economic fabric and we have witnessed tremendous upheavals in the global financial systems. Under the transformation of the current ecosystem, new risks are arising in the eyes of consumers. And the disruptive trends could exacerbate those risks – managing privacy, digital identity, cyber security threats are increasingly complex and expensive. The G20 should play a leading role in sustaining the trust in the global financial ecosystems, by incentivizing innovation and maximize returns for the general public and the future of humanity.