FSB: No Systemic Risk from Fintech Now but Counsels Future Vigilance

International regulators say it's too soon for fintech such as blockchain or robo-advisors to pose a threat to financial stability, but warns that caution is still necessary.

Risk
Current systemic stability implications are few, the FSB says, but contagion effects could grow in the future.

The Financial Stability Board (FSB) released a report into financial stability issues arising from the growth in fintech on June 27, examining fintech applications by sector, and more specific developments, such as distributed-ledger technology (DLT) and robo-advice.

Given a lack of maturity in most fintech models, the report suggests, most developments are too embryonic to pose any sustained threat to financial stability at present, but microfinancial risks could be on the rise.

“Fintech inno

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