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Fintech

Too cool to fail: Tech will be heart of next financial crisis

We need objective technical standards to supervise the technology that is becoming so important to the system

Regulator says no: Authorities have failed to keep up with the spread of complex new technologies throughout finance
Regulator says no: Authorities have failed to keep up with the spread of complex new technologies throughout finance

The next global financial crisis will be turbo-charged by failures in technology.

High-profile tech failures, such as online retail crashes, phishing attacks and hacking vulnerabilities, have soaked up public attention. But under the global financial hood, in critical systems dealing with complex client and transaction monitoring, screening and surveillance, there is something alarmingly seductive about the words “fintech” and “regtech”.

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