Next is the Risks Faced by FinTech – Considering their own business peculiarities, it is very important to also identify the risks specific to FinTech operations, these may include cybersecurity risk and AML risk, among others.
And lastly – Once we have identified these important information, we will now employ appropriate risk management standards based on the FinTech’s business model, risk profile and degree of systemic importance. The ongoing challenge for the BSP is how to stay ahead of the curve when it comes to emerging financial technological innovations.