The supply of bank loans to firms through digital channels, which is still very limited in Italy, can now make rapid and substantial progress. The Bank of Italy is active on a number of fronts to address the changes prompted by technological innovation in financial services.
We have strengthened dialogue with operators through our innovation hub, our FinTech Channel, and through new procedures to authorize market access; we are collaborating with the Ministry of Economy and Finance in a forum for authorities on digital innovation and participating in the launch of a regulatory sandbox; we support the development of system solutions designed to ensure the proper balance between the need for standardization and competition in innovative sectors, procedures for updating regulations and legal certainty, new investments and risk mitigation.