Whatever their nature, SIFIs have two things in common: that their uncontrolled failure would cause significant systemic disruption and that we, as authorities, cannot at present resolve  2  BIS Review 131/2010  them in an orderly fashion without use of public funds. The framework we have agreed to address SIFIs is therefore based on four necessary pillars.
On the face of it, I have no doubt that this is a positive development for the financial sector. It leads to greater efficiency, better products and lower prices for consumers. It also has the potential to support financial inclusion. In short, FinTech can be part of the answer to the fundamental questions facing our economies: lack of productivity and rising inequalities.