i卡會員

The arrival of the new economy and digital technology creates opportunities for new business models and comes with new risks as well. For example, the emergence of Fintech has brought about new business models, a diversity of transaction patterns and changes in consumer behaviour in the financial industry. There are the key types of Fintech such as Peer-to-peer (P2P) lending, P2P crowdsourcing and initial coin offering (ICO) and etc. The rise in digital products/services has increased data breaches, cyber hacks, money laundering, and other fraudulent activities. Even though the governments and regulators impose stringent laws and heavy penalties, many financial institutions still paid a lot fines for non-compliance every year.