Fintech creating data gaps, BIS survey finds

Central banks need to take action to close data gaps created by the rapid growth of fintech firms, a new survey published by the Bank for International Settlements finds.

The majority of respondents to the survey, carried out by the Irving Fisher Committee (IFC), said there were fintech firms in their jurisdiction, with the most prevalent kind being payment firms. Fintech credit providers appeared in about 50% of respondents’ jurisdictions, of which 40% reported the presence of “neobanks”, or