Finance

Global Financial Stability Report | April 2022

Global Financial Stability Report | April 2022

Chapter 3: The Rapid Growth of Fintech: Vulnerabilities and Challenges for Financial Stability Fintech can increase efficiency and competition and broaden access to financial services. However, the fast growth of fintech firms into risky business segments—and their inadequate regulation and interconnectedness with the traditional financial system—can have financial stability implications. …

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100,000 quit financial advice as fees jump another 8pc

100,000 quit financial advice as fees jump another 8pc

Instead of increasingly expensive professional advice, many consumers have turned to unregulated advice by following investing and finance influencers, or “finfluencers”, on digital platforms such as TikTok, YouTube and Instagram. About 5 per cent of Australians receive all of their financial advice from social media, according to the Australian Securities …

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