Beneath the Surface: Technology-driven systemic risks and the continued need for innovation

For firms, technology and innovation have helped to streamline operations and offer new digital financial products and services to customers at low cost. Consumers, then, have benefitted through a combination of improved access to financial services, convenience, and greater selection. At the same time, as with all innovation, the increased use of technology is giving rise to new risks, risks that if unchecked, can become systemic and put into question the stability of the global financial system.

We are delighted to share the World Economic Report (WEF) ‘Beneath the Surface: Technology-driven systemic risks and the continued need for innovation as part of the collaboration team. The report draws on over 200 Technology, Innovation and Systemic Risk collaborators expertise to bring together views on the systemic risk of technology to financial services. Highlighting drivers of vulnerability and disruption to global financial markets.

The report explores the relationship between increased technology adoption in financial services and systemic risk. The research additionally examines actions that can be undertaken to address identified risks, including the role that technology itself can play in mitigation approaches.

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