2/6  BIS central bankers' speeches  3 Risks of digitalisation This brings us to the risks and challenges that arise in the context of digital transformation and need to be taken into account. To be clear, tackling digital risk is an enormous challenge. I believe that this can be put down to three key factors. First, there are new types of risk.
However, it is also fair to say that industry participants and regulators are facing a number of ongoing questions regarding the full implications of CCP interoperability in terms of competition, financial innovation and systemic risk.