Fintech development has remained a high priority in the financial sector as customers continue to demand high performance technology alternatives to the traditional banking channels. Fintech is enabling customers to have more awareness and control over their financial choices. We have commenced research in this area aimed at identifying areas where the existing Standards should be enhanced to ensure customers are as protected via the digital channels as they are via all other channels.
We recognise the need for proportionality given the benefits that can be realised through digitally enabled capabilities and the positive impact this can have on consumers’ financial health.
Access the Terms of Reference here.