Understanding Fintech Regulatory Framework

“A youthful population, increasing smartphone penetration, and a focused regulatory drive to increase financial inclusion and cashless payments, are merging to create the perfect recipe for a thriving Fintech Sector in an electronic age where every day financial transactions are conducted on electronic platforms.”

The 2008 financial crisis, also known as the great recession period, witnessed the collapse of many renowned world banks, businesses and world economies. Following this event, some banking reforms were made to increase resilience of the Financial Sector and maintain stability in the financial service delivery. Some of the effects of technology on the Financial Sector include; the closure of the gap between the financially excluded and financially included, through innovations and the use of blockchain for data management and optimization of internal processes.