Technology is breaking down the barriers to entry in the credit and financial services markets, and a less efficient player may not be able to survive the ensuing increase in competition. 14 15  https://www.bancaditalia.it/compiti/sispaga-mercati/fintech/index.html?com.dotmarketing.htmlpage.language=1 For example, regulatory sandboxes face the challenge of striking the right balance between two objectives: encouraging innovation and protecting consumers.
10  I expect the structure of banking and financial markets ten years from now to be very different from what it is now; non-bank operators will probably play a much bigger role.