Besides unquestionable benefits the rapid development of financial innovations may bring to individuals and businesses, it also generates number of risks that should be addressed both by regulators and industry. Known as “fintech”, financial innovations are changing the world and posing a challenge for policy makers. How to strike the right balance between security, convenience and ensure the innovation-friendly ecosystem? What kind of cybersecurity measures should be taken both by regulators and industry to ensure the relevant level of consumer protection? Should data protection be a concern in the “big-brother” world? What is the impact of data protection on security of financial innovations? These questions and many others will be addressed by experts from Europe and Asia in the eve of the upcoming Singapore Fintech Festival, the biggest industry event in the region.

Image by Shinji Abe on Flickr.