The digital transformation of financial services has opened up the market to new providers: FinTech start-ups and BigTechs. In this article, we explain how policymakers’ mindset should evolve towards a comprehensive response to ensure the financial sector remains safe, stable and open to competition.

Digital transformation has opened the financial services market to new kinds of providers with great disruptive potential, including big technology companies. This article explores how the scope of that integration is conditioned by regulation, data access rules and competition policy.