FinTech Risks and Opportunities: An Interdisciplinary Approach

Commonwealth's Caite Eilenberg will be attending.

Financial technology, or FinTech, can be traced back to the introduction of the telegraph in the 1860s. As internet technology became available, FinTech has evolved rapidly. Financial firms digitized their processes, and companies began introducing consumer-facing products such as online banking and payments. Today, FinTech continues to disrupt and evolve, not only in how financial products and services are delivered, but who delivers them. Regulators and market participants face challenges in understanding and balancing the benefits of FinTech against potential risks. Innovation helps catalyze growth and new opportunities while generating new risks. Regulatory structures in place could fail to accommodate changes in the financial marketplace. Regulators may overreact to new technologies, stifling innovation and locking in old forms of doing business. At the same time, regulatory complacency can have disastrous results, permitting the buildup of systemic risk or widespread consumer harms.

This conference will explore how the private sector, researchers, and policymakers can harness the upside potential of financial innovation while reducing the downside risks

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