It doesn’t matter in this context whether an enterprise calls itself a “fintech”, “bigtech” or “established financial institution” – nor what technology it uses. Formulating abstract requirements and standards instead of detailed technical rules has helped ensure the stability of the supervisory framework.
It goes without saying that the IT requirements have become more diversified and more clearly defined over the last few years, but even so, they are formulated generically – and for good reason. Since technologies and applications differ over time and from bank to bank, standards need to remain applicable and instructive in every case.