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Fintech developments have introduced the use of innovative technologies in the provision of banking services, reshaping the business models, channels, services and market competition of the financial industry, as well as creating new risks.
Under this new unprecedented disruptive scheme, ASBA, with support from the IDB-Lab, formed a Working Group with the objective of establishing minimum guidelines and regulatory recommendations for the incorporation of innovative technologies in the financial sector in a responsible, transparent and competitive manner.
This document focuses on the non-prudential analysis of fintech’s regulation and supervision initiatives that are applicable to fintech products and services in the region. Based on the analysis conducted, the document establishes minimum guidelines and recommendations based on common regulatory and supervisory initiatives and trends for consumer protection.
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