Too Small to Care: troppo piccole per curarsene? L’individuazione del rischio sistemico generato dalla FinTech

Technological finance companies could emerge as systemically important in the coming years, or already be, in a completely new way compared to the past. Their activities are carried out with operating and connection methods and structures that are not yet understood, certainly not comparable to those of traditional finance. They could generate systemic risk and compromise financial stability. The supervision of a large and protean financial sector, in which technology determines the offer of financial products, should also involve the selection of suitable tools for identifying the phenomenon and understanding it in its real technological dimension. This result can determine the overcoming of the technological asymmetries existing between markets or financial institutions and supervisory authorities which can gener- ate systemic risk. In fact, the lack of adequate technological supervision (SupTech) leaves room for phenomena that can become dangerous for financial stability, not even being perceivable on a real level, except as a consequence of the occurrence of the risk produced.