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The REGTECH Book
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The REGTECH Book

by Janos Barberis, Douglas W. Arner, Ross P. Buckley
August 2019
Intermediate to advanced content levelIntermediate to advanced
392 pages
14h 11m
English
Wiley
Content preview from The REGTECH Book

A Seat at the Table – Bringing the Voice of FinTech to the US Regulatory Process

By Lynn Bromley

Founder and Principal, FinTech Advocate

Another day, another sandbox – regulatory sandbox, that is. Countries around the world are deploying proactive regulatory strategies and establishing sandboxes to support growth and much-needed innovation in the financial services sector. They are popping up everywhere: the United Kingdom, Malaysia, Singapore, Canada, Bahrain, Australia, Hong Kong, Russia – everywhere but the United States, it seems.

Regulatory sandboxes present a clear and unambiguous signal to the market – to FinTech innovation. ‘Bring it on’, they say – everywhere but the United States, it seems.

To be clear, I am not a fan of FinTech for the sake of FinTech, or for the sheer brilliance of the many and various emerging technologies. It is rather the potential of FinTech to bring solutions to many of the world’s most stubborn problems that inspires. Take but one example – the unmet need for small and medium-size enterprise (SME) loans.

The Case for Financial Services Innovation in SME Lending

There is broad agreement in the United States that small businesses are the primary creators of net new jobs in addition to spawning the lion’s share of innovation, yet they struggle disproportionately for capital. In the past five years:

  • 53% of SME’s have applied for loans or lines of credit.
  • 25% have applied more than once.
  • 20% were turned down.
  • 45% were turned down more than once. ...
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Publisher Resources

ISBN: 9781119362142Purchase book