LEADER 02289cam a22004095i 4500001 99131234493606421 005 20200608162010.0 006 m d 007 cr cn||||||||| 008 020129s2020 dcu o i00 0 eng^^ 024 7 10.1596/33591 |2doi 035 (CKB)4920000001211131 035 (The World Bank)33591 035 (US-djbf)33591 035 (EXLCZ)994920000001211131 040 DJBF |beng |cDJBF |erda 100 1 Berg, Gunhild. 245 10 Fintech in Europe and Central Asia : |bMaximizing Benefits and Managing Risks / |cGunhild Berg. 246 Fintech in Europe and Central Asia 264 1 Washington, D.C. : |bThe World Bank, |c2020. 336 text |btxt |2rdacontent 337 computer |bc |2rdamedia 338 online resource |bcr |2rdacarrier 347 data file |2rda 490 1 Other papers 520 3 FinTech has tremendous potential in the Europe and Central Asia (ECA) region, given its high mobile phone and internet access levels and scope for increased use of digital payments. However, there are major regional differences between high-income and middle-income countries regarding access to technology, FinTech adoption, and regulatory capacity. This paper analyzes the opportunities and risks related to FinTech in the ECA region, focusing on these three key financial sector challenges: (i) high costs of international remittances, (ii) inefficiencies in the provision of domestic payments, and (iii) low levels of MSME's access to finance. It also analyzes the level of FinTech development in the region, and delves into the state of FinTech policy, regulation and supervision in the region along with an analysis of reform needs. Finally, this paper touches upon the role for international public policy coordination related to FinTech generally, with a focus on the ECA region. 650 4 E-Finance and E-Security 650 4 Finance and Development 650 4 Finance and Financial Sector Development 650 4 Financial Regulation and Supervision 650 4 Financial Structures 650 4 ICT Applications 650 4 Information and Communication Technologies 700 1 Berg, Gunhild. 700 1 Guadamillas, Mario. 700 1 Natarajan, Harish. 700 1 Sarkar, Arpita. 830 0 Other papers. 830 0 World Bank e-Library. 906 BOOK