Information and communication technologies play a fundamental role for people, businesses and the public sector. Digital transformation is modifying the economic system and the whole of society at unprecedented speed.
Innovation is having a powerful effect on the financial sector. The value chain is becoming more complex, and the participation of non-financial providers is increasing. The tech giants as well as the new fintech start-ups are expanding the supply of innovative services to a broad and diverse customer base through new business models.
As a result, confidence in the financial sector is no longer based on bilateral trust between customers and service providers but is dependent on the governance of digitalization and especially on the reliability and safety of the products offered.
