SAMAR PRATT GLOBAL FINANCIAL CRIME COMPLIANCE ADVISORY LEADER CAPGEMINI

However , a contentious issue in the regulatory space is the perceived disparity between the regulatory burden placed on traditional banks and that on fintech companies .

Banks have long argued that they are at a competitive disadvantage due to the stringent regulations they must adhere to , while , in some cases , fintech companies operate under lighter regulatory regimes .

This perspective may be oversimplified , though . Ivo Gueorguiev offers a nuanced view : “ Banks are not regulated more by design . The legal framework is largely the same .

“ Historically , regulators have focused more on banks due to their significant