In line with this, the BSP has identified the responsible promotion of FinTech as a priority agenda, thus, the establishment of a fintech roadmap covering three key areas, namely: Collaborative Engagements, Commensurate Regulations and Capacity Building.
For example, BlackRock, the largest asset management company in the world, has around $ trillion of assets under management, but only $ billion (3.5 per cent) of its own. Clearly there is no ‘too-big-to-fail’ problem as in the banking industry.