The FinTech Ecosystem Between Legal Compliance and Social Dimension
By Francesca Gaudino · 2019
The massive impact of digital technologies has made its path towards the banking industry, giving birth to the so-named FinTech phenomenon. In fact, even banks and financial institutions, which traditionally have been more reluctant to embrace technology-based solutions, are now finding themselves in a position to be somehow forced to enter the digital ecosystem. However, being compliant with legislative and security standards may be regarded as the starting point, or better as the minimum compliance level for FinTech companies. The reality is that the digital ecosystem offers a number of possibilities to exploit personal information, so that it may happen that a certain processing activity may be carried out adopting the specific rules set forth by the law, but the result of the processing may have an impact from other perspectives, notably from a social, historical, or ethical perspective.