Next generation financial services and technologies (Fintech)

The Ministry of Finance actively monitors developments in financial service technologies and participates in the drafting of regulatory measures relating to them. The Ministry of Finance works closely with other financial market actors to create an operating environment that will permit extensive use of financial services technologies and promote a more vigorous financial services eco-system.

New ways of acquiring and transmitting funding, such as crowdfunding, have developed in recent years. Other developments include new payment methods, extensive digitalisation, crypto-assets and the adoption of blockchain technology.

These developments pose significant new questions to public authorities with respect to oversight of new kinds of activities and the risk-bearing capacity of the entire financing system. New types of operators are continually emerging in the financial services sector that are not subject to the same regulatory control as more traditional operators.

The Ministry of Finance is seeking to establish equitable ground rules for all financial services operators with the goal of maintaining customer confidence in various financial services and in the smooth and stable functioning of all service providers.

Contacts

Reima Letto, Senior Ministerial Adviser

firstname.lastname@gov.fi