With the development of financial technology and the advancement of the internet environment, providers of financial services are no longer limited to traditional financial institutions. FinTech (Financial Technology) and big-tech companies offer diversified financial services through platform models. As financial services progress towards digitization and intelligence, maintaining financial market stability becomes a focus for countries. This report analyzes the regulatory measures taken by major supervisory authorities in the US (United States), the EU (European Union), China, and looks into four key considerations: data collection integrity, data privacy security, rationality of technology applications, and prevention of systemic risks.
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Table of Contents
1.The Impact of Fintech on Traditional Banks
1.1 Complementary Effects of Financial Services
1.2 Market Supportive Effects
2. The Impact of BigTech on Traditional Banks
2.1 Replacement of Financial Services
2.2 Market Dominance
2.3 Cybersecurity and Privacy Protection
2.4 Technology Development and Provision
2.5 Systemic Risks
3. Measures Taken by International Regulatory Authorities
3.1 Data Collection and Sharing
3.1.1 EU: Data Act and Data Governance Act
3.1.2 US: National Strategy for Privacy Protection in Promoting Data Sharing and Analysis
3.1.3 China: Data Security Law
3.2 Privacy and Security Regulation
3.2.1 EU: General Data Protection Regulation
3.2.2 US: The American Data Privacy and Protection Act
3.2.3 China: Personal Information Protection Law
3.3 Regulation of Algorithmic Fairness
3.3.1 EU: Trustworthy AI Ethical Assessment Principles
3.3.2 US: Artificial Intelligence Rights Blueprints
3.3.3 China: Personal Information Protection Law
3.4 Regulation of Technology Companies
3.4.1 EU: Digital Services Act
3.4.2 US: The American Innovation and Choice Online Act and Open App Markets Act
3.4.3 China: Anti-Monopoly Law
4.Key Considerations of International Regulatory Authorities
4.1 Data Collection Integrity
4.1.1 Emerging Financial Information
4.1.2 Non-Financial Information
4.2 Data Privacy Security
4.3 Rationality of Technology Applications
4.4 Prevention of Systemic Risks
Appendix
List of Companies
List of Tables
Table 1 Specific Measures of the EU's "Data Act"
Table 2 Measures of the EU "Data Law"
Table 3 Seven Principles and Regulations of GDPR for Data Controllers
Table 4 Five Principles and Regulations of GDPR for Data Subject Rights
Table 5 Key Highlights of Chapters in the "US Data Privacy and Protection Act"
Table 6 Protection of Individual Information Rights under the "Personal Information Protection Law"
Table 7 Principles for Reliable AI Ethics Assessment
Table 8 Principles of the United States Artificial Intelligence Rights Blueprint
Table 9 Compliance Explanation of Automated Decision-Making in China
Table 10 Regulations on Anti-Monopoly in China's Platform Economy
Companies Mentioned (Partial List)
A selection of companies mentioned in this report includes, but is not limited to:
- Alibaba
- Amazon
- Apple
- BlackRock
- Gucci
- LVNA
- Meta
- Microsoft
- Target
- Tesla
- Ulta Beauty
Methodology
Primary research with a holistic, cross-domain approach
The exhaustive primary research methods are central to the value that the analyst delivers. A combination of questionnaires and on-site visits to the major manufacturers provides a first view of the latest data and trends. Information is subsequently validated by interviews with the manufacturers' suppliers and customers, covering a holistic industry value chain. This process is backed up by a cross-domain team-based approach, creating an interlaced network across numerous interrelated components and system-level devices to ensure statistical integrity and provide in-depth insight.
Complementing primary research is a running database and secondary research of industry and market information. Dedicated research into the macro-environmental trends shaping the ICT industry also allows the analyst to forecast future development trends and generate foresight perspectives. With more than 20 years of experience and endeavors in research, the methods and methodologies include:
Method
- Component supplier interviews
- System supplier interviews
- User interviews
- Channel interviews
- IPO interviews
- Focus groups
- Consumer surveys
- Production databases
- Financial data
- Custom databases
Methodology
- Technology forecasting and assessment
- Product assessment and selection
- Product life cycles
- Added value analysis
- Market trends
- Scenario analysis
- Competitor analysis
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