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Regulators fear pace of change as fintech grows

Mar 04, 2019 - City A.M.

REGULATORS are becoming increasingly concerned that the scale and pace of fintech development could harm consumers and threaten the financial system, according to a KPMG report.

The report warned that regulators and risk experts were struggling to keep up with the pace of technological change and predicted a fresh wave of regulatory scrutiny in 2019.

It raised concerns that an increasing reliance on just a handful of technology firms, as well as the use of large data sets, was posing...