On Wednesday, the governor of the Bank of England, Mark Carney, said that fintech could signal an end to the traditional bank model; this could also increase herding risks, adding “As those risks emerge, authorities can be expected to pursue a more intense focus on the regulatory perimeter, more dynamic settings of prudential requirements, a broader commitment to resolution regimes, and a more disciplined management of operational and cyber risks.”; Mark Carney is also chairman of the Financial Stability Board which will report to the G20 in July on risks and rewards in fintech. Source
