The impact of FinTech on banking and finance law

FinTechs are revolutionizing today's banking and financial sector. This raises questions about the complex relationship between innovation and regulation. To what extent are FinTechs more innovative than traditional players? FinTechs emerged in the wake of the 2008 financial crisis. According to Régis Bouyala, FinTechs are "avatars in the field of banking and finance born of the digital revolution, enabling small entities to compete with and/or complement the offerings of established players in all areas of the economy." The emergence of FinTech is profoundly disrupting the traditional banking and finance model, and is akin to a break with the old banking codes. We therefore need to strike a balance between integrating FinTech into the traditional banking and financial model, despite the risks involved. In addition, national and international regulators need to put in place appropriate, uniform regulations applicable to new players in the banking and financial world.