Posted April 27, 2017On April 19, 2017, the Government Accountability Office (GAO) released the first in a planned series of reports on the growing and wide-ranging fintech industry. This comes in response to requests from several congressional offices as fintech continues to gain attention from consumer advocates as well as the traditional financial industry. The report called out the following four fintech subsectors and regulatory oversight for each as well as potential benefits and risks.
- Marketplace lenders
- Mobile payments
- Digital wealth management platforms
- Distributed ledger technology