Il rischio sistemico generato dalla FinTech

Tech finance firms are particularly vulnerable to adverse shocks. Furthermore, they have multiple transmission channels through which such shocks can spread among financial market players (not just FinTechs). They produce information asymmetries. Last but not least, the technological finance market is growing. In other words, FinTech produces and at the same time is subject to systemic risk. All of these elements indicate that FinTech could potentially act as a catalyst for greater losses if extreme events were to materialize, some of which may be foreseeable and some of which may not. The market failures related to FinTech suggest the need to study an adequate regulation to contain systemic risks and prevent the propagation of idiosyncratic risks at the systemic level. It is important to avoid crisis events originating in the sector and being transferred to traditional finance and therefore to the real economy.