Skip to main content Accessibility help
×
Hostname: page-component-78c5997874-t5tsf Total loading time: 0 Render date: 2024-11-08T06:28:50.600Z Has data issue: false hasContentIssue false

17 - The New Systemic Risks

Cybersecurity and Data Risks

from Part IV - From FinTech to TechFin to BigTech to FinTech 4.0

Published online by Cambridge University Press:  09 November 2023

Ross P. Buckley
Affiliation:
University of New South Wales, Sydney
Douglas W. Arner
Affiliation:
The University of Hong Kong
Dirk A. Zetzsche
Affiliation:
Université du Luxembourg
Get access

Summary

Since the 1960s, finance has undergone a long process of digital transformation and is today probably the most globalised segment of the world’s economy and among the most digitised and datafied. This process is evident across four major axes: the emergence of global wholesale markets, an explosion of financial technology (FinTech) start-ups since 2008, an unprecedented digital financial transformation in developing countries (particularly China), and the increasing role of large technology companies (BigTechs) in financial services. This process of digital financial transformation brings structural changes with both benefits and risks. This chapter considers new risks, particularly new systemic risks which have emerged, focusing on cybersecurity and data.

Type
Chapter
Information
FinTech
Finance, Technology and Regulation
, pp. 267 - 282
Publisher: Cambridge University Press
Print publication year: 2023

Access options

Get access to the full version of this content by using one of the access options below. (Log in options will check for institutional or personal access. Content may require purchase if you do not have access.)

Save book to Kindle

To save this book to your Kindle, first ensure [email protected] is added to your Approved Personal Document E-mail List under your Personal Document Settings on the Manage Your Content and Devices page of your Amazon account. Then enter the ‘name’ part of your Kindle email address below. Find out more about saving to your Kindle.

Note you can select to save to either the @free.kindle.com or @kindle.com variations. ‘@free.kindle.com’ emails are free but can only be saved to your device when it is connected to wi-fi. ‘@kindle.com’ emails can be delivered even when you are not connected to wi-fi, but note that service fees apply.

Find out more about the Kindle Personal Document Service.

Available formats
×

Save book to Dropbox

To save content items to your account, please confirm that you agree to abide by our usage policies. If this is the first time you use this feature, you will be asked to authorise Cambridge Core to connect with your account. Find out more about saving content to Dropbox.

Available formats
×

Save book to Google Drive

To save content items to your account, please confirm that you agree to abide by our usage policies. If this is the first time you use this feature, you will be asked to authorise Cambridge Core to connect with your account. Find out more about saving content to Google Drive.

Available formats
×