Financial institutions should be aware of the compelling need to effectively adapt their business models, both in their internal organisation and in their supply of products; it will be especially important to fully exploit the new technologies in order to provide the most suitable financial products for firms and households.
In any event, access to sound information about issuers and financial contracts, transparent behaviour by firms and financial corporations, improvements in households’ financial education are key prerequisites for the financial sector to effectively allocate risks in the economy. For regulators, the challenge remains one of striking the right balance between allowing financial innovation while preventing it from endangering financial stability.