Fintech - What Is The Solution?

Short Text

The privacy challenges posed by fintech must be met in various ways. The financial sector is undergoing technological change, which provides opportunities to develop privacy-protecting instruments; unfortunately, the efforts of the industry are not very often put in this direction. Similarly, we need a regulatory framework that meets the new challenges. Much of the world already has tight controls over some kinds of financial data – for example, the data held by credit reference agencies – but we’re now in a situation where “all data is credit data”, as the formed CIO of Google put it.