Regulating FinTech in Asia: Global Context, Local Perspectives

This book explores Fintech regulation in Asian countries, placing local developments in broader economic, regulatory, and technological contexts. Fintech has disrupted the financial services sector, creating a complex and fast-changing landscape. Policymakers struggle to identify appropriate regulatory responses and turn to policy experimentation, particularly in Asia, where many jurisdictions are seeking to establish themselves as regional hubs for new financial services.

Format: Paperback / softback
Length: 230 pages
Publication date: 30 July 2021
Publisher: Springer Verlag, Singapore

This comprehensive book examines Fintech regulation in Asian contexts, placing local developments within broader economic, regulatory, and technological frameworks. Over the past decade, fintech, which encompasses the utilization of cutting-edge information technologies to enhance the competitiveness of financial institutions and intermediaries, has caused a significant disruption in the financial services sector. Similar to other technological advancements of the 21st century, fintech is a global phenomenon that unfolds within local economic, political, and regulatory contexts, resulting in a complex and rapidly evolving landscape.

A wide range of stakeholders, including incumbent financial service providers, tech start-ups, and regulators, are all vying for a competitive advantage in a context of profound uncertainty regarding the future direction and potential consequences of various emerging technologies. These challenges are further compounded by uncertainties surrounding regulatory responses. Policymakers often face difficulties in identifying appropriate regulatory frameworks and increasingly resort to policy experimentation. Such issues contribute to the complexities faced by the various actors operating within the fintech space, particularly in Asia, where many jurisdictions are actively striving to establish themselves as regional hubs for new financial services.

To address these challenges, this comprehensive book delves into fintech regulation in Asian contexts, providing a comprehensive analysis of local developments within broader economic, regulatory, and technological frameworks. It explores the interplay between global trends and local circumstances, shedding light on the complex and dynamic landscape that has emerged. By examining the regulatory frameworks, policies, and practices in different Asian countries, the book offers valuable insights into the strategies employed by policymakers and industry participants to navigate the evolving fintech landscape.

The first chapter provides an overview of fintech and its significance in the financial services sector. It highlights the global nature of fintech and its impact on various industries, including banking, insurance, and investment. The chapter also discusses the challenges and opportunities that fintech presents for regulators and policymakers.

The second chapter focuses on the regulatory frameworks and policies in different Asian countries. It examines the legal and regulatory frameworks that govern fintech activities, including licensing requirements, consumer protection measures, data privacy regulations, and anti-money laundering standards. The chapter also explores the role of government agencies, such as central banks and financial regulatory bodies, in shaping fintech regulation.

The third chapter examines the impact of fintech on financial inclusion and access to financial services. It explores how fintech has facilitated the provision of financial services to underserved populations, such as the unbanked and underbanked, and how it has contributed to the development of inclusive financial ecosystems. The chapter also discusses the challenges and opportunities for fintech in promoting financial literacy and empowerment.

The fourth chapter examines the role of fintech in promoting financial innovation and competition. It explores how fintech has disrupted traditional financial institutions and created new market entrants, leading to increased competition and innovation in the financial services sector. The chapter also discusses the challenges and opportunities for fintech in fostering financial stability and resilience.

The fifth chapter examines the challenges and risks associated with fintech. It explores the potential risks and vulnerabilities of fintech systems, including cyber security threats, data breaches, and financial fraud. The chapter also discusses the measures that policymakers and industry participants can take to mitigate these risks and ensure the stability of the fintech ecosystem.

The sixth chapter examines the future of fintech regulation in Asian contexts. It explores the potential trends and developments in fintech regulation, including the adoption of new technologies, such as blockchain and artificial intelligence, and the increasing internationalization of fintech activities. The chapter also discusses the challenges and opportunities for policymakers and industry participants in adapting to these changes.

In conclusion, this comprehensive book provides a valuable insight into fintech regulation in Asian contexts. By examining local developments within broader economic, regulatory, and technological frameworks, it offers a comprehensive analysis of the complex and rapidly evolving fintech landscape. The book provides valuable insights for policymakers, industry participants, and scholars interested in understanding the dynamics of fintech regulation in different Asian countries and the potential implications for the global financial services sector.

Weight: 376g
Dimension: 156 x 235 x 18 (mm)
ISBN-13: 9789811558214
Edition number: 1st ed. 2020