THE BRIEF
“ Rather than seeing fintech companies as a threat , the big banks should see them as a hotbed of innovation that can enhance their existing services ”
Mahmood Noorani CEO , Quant Insight �
BY THE NUMBERS
We asked the FinTech community
The Bank of England has warned that the growth of cryptocurrency could end up damaging the global financial economy if it crashes .
How should regulators respond ?
34 %
Leave it alone
24 %
Attempt to control it
“ Human oversight cannot guarantee consistent security against fraud or hacking at those scales . So there is no going back on automation ”
Martin Rehakl CEO , Resistant AI �
“ Thanks to open banking , fintechs can plug-in-andplay with different APIs in one automated , secure process ”
Julie Chariell Senior analyst , Bloomberg Intelligence �
That ’ s how many fintech startups there are in the EMEA region in 2021 according to Statistica
The global financial sector is expected to be worth US $ 26.5tn in 2022 with a CAGR of 6 %.
42 %
Action some regulations
A new report from Gartner has called for changes in modern risk management to account for third-party relationships , mitigating risk in an ‘ iterative way ’ after a study revealed that only 29 % of business and IT executives globally know how diligently their partners are working regarding security .
12 December 2021