Naslov
Transformation of financial regulatory governance through innovation facilitators - Case study of innovation hub in Croatian capital markets

Autori
Bajakić, Ivana

Vrsta, podvrsta i kategorija rada
Sažeci sa skupova, neobjavljeni rad, znanstveni

Skup
ECLIC International Scientific Conference “EU 2020 – lessons from the past and solutions for the future

Mjesto i datum
Osijek, Hrvatska, 10.09.2020. - 11.09.2020

Vrsta sudjelovanja
Predavanje

Vrsta recenzije
Podatak o recenziji nije dostupan

Ključne riječi
Financial technologies, FinTech, Capital markets union, financial integration, New Member States

Sažetak
Financial sector is a frontrunner consumer of digital technologies (European Commission, 2018a, p.1). FinTech is defined by the Financial Stability Board as a “technology-enabled innovation in financial services that could result in new business models, applications, processes or products with an associated material effect on the provision of financial services” (2019, n.1, p.1). FinTechs have attracted great attention for their potentially disruptive impact on financial ecosystem. They represent a great opportunity for democratisation of financial systems and better access to finance, but also a possible risk for financial stability. Regulatory framework is trailing behind fast- moving technological advancements. The UK pioneered regulatory innovation through design of innovation facilitators, namely innovation hubs and regulatory sandboxes to enhance flexible and supportive regulatory governance of Fintech. Other countries worldwide have been replicating this governance regime. There is an intensification in empirical research on impacts of Fintech and regulatory approaches while only a few regarding Central and South Eastern European countries (Deloitte, 2016 ; Raiffeisen Bank International, 2019 ; Kerényi, 2018 ; Stern, 2017).

Izvorni jezik
Engleski

Znanstvena područja
Ekonomija, Pravo

POVEZANOST RADA