This session will dive deep into two Fintech-related policy areas – digital payments, and open banking - to understand emerging trends and policy considerations for authorities to take a deliberate, proactive, and coordinated approach. Financial regulatory authorities are trying to balance enabling the entrance and scaling of Fintech companies while also developing new approaches and regulation for activities that may not yet exist within the scope of their current regulatory environment. However, significant challenges of fintech risk monitoring and management remains, particularly in areas related to reserve fund management, information security, anti-money laundering, disclosure and transparency. Fintech business models evolve at a fast pace, making it harder for financial regulators and supervisors to anticipate gaps and inefficiencies.
This session aims to explore policy approaches employed in Mexico to enhance digital financial inclusion, results and lessons learned.