The Politics of FinTech

: A Comparative Approach

Abstract

FinTech represents a new combination of two industries: financial services and technology. The novel economic sector is constantly growing at the national and international levels. Governments and firms face a number of regulatory and supervisory challenges in the area of cross-border supervisory cooperation, digital identity, cyber security and privacy among others. To address these challenges, two policy tools have emerged and they are: innovation hubs and sandbox regimes. They represent two safe regulatory and innovative environments in which governments and firms can innovate. Governments are interested in these policy tools to re-invent their regulatory functions and meet the demands of a new population which has become more tech-savvy and expect firms to tailor products and services to their preferences. Regulatory regimes are adopting a model rooted in market competition and innovation. While technology allows experimentation and provides opportunities for governments to monitor areas of innovation in unexpected places, governments are reinventing themselves to establish a new digital order rooted in a flatter rule of law.

Date of Award	1 Jul 2022
Original language	English
Awarding Institution	King's College London
Supervisor	Adam Chalmers (Supervisor) & Scott James (Supervisor)