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Abstract:Financial innovations, financial and digital technologies transform the way of life, work, consump-tion, production of goods and services. In the face of increasing competition, the Internet offers op-portunities for improving business and benefiting from lower production costs. Using information and communication technologies (ICT), small and medium-sized enterprises (SMEs) gain access to global markets that were once the prerogative of only large corporations. Digital platforms are changing the economics of doing business, reducing the cost of international interactions and trans-actions. The growth of Fintech raises questions to financial authorities regarding the expansion of the regulatory and supervisory perimeter, the compliance of new types of digital financial services with existing rules, the identification, evaluation, reduction and monitoring of financial innovation risks. Digital globalization is changing the value chains, creating new hubs, transforming economic activity. Under these conditions, policymakers need to find the right balance between taking ad-vantage of openness and reducing the risks that appear in the digital world at unprecedented speed. How big the digital economy will be in the medium and long term remains the question, but the fact is that it will grow at a significant pace is beyond doubt.
Keywords:digital economy, digitalization, financial innovations, financial regulation, Financial supervision, Fintech, Information and communication technologies (ICT)
JEL-Classification: G00, O31, O32, O33
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