BIS paper finds some potential benefits to ‘bigtech’

Global losses
‘Bigtech’ firms are starting to reshape global finance

The rapid growth of major tech firms – ‘bigtech’ – and their entry into financial markets has left regulators scrambling to understand whether such developments are desirable and what response is needed.

Preliminary evidence published today (April 8) as a working paper by the Bank for International Settlements suggests there may be at least some upside to the rise of bigtech, though a plethora of questions remain unanswered.

Jon Frost, Leonardo Gambacorta, Yi Huang, Hyun Song Shin and Pablo

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