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1Since March, global regulators have been concentrating on their responses to COVID. Our actions ranged from how to supervise firms whose employees were mainly working from home to the measures necessary to safeguard the stability of the financial system after the March “dash for cash” episode.
Fintech was a major topic on the global regulatory agenda prior to the COVID outbreak. The growth of digitalisation and the use of social media were already rapidly changing the way in which financial products were being marketed and distributed. In the immediate run-up to the COVID crisis, we saw the wider adoption of consumer financial technologies, from remote banking to wireless payments.
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