[Maeil Business News Korea] SKK GSB Prof. Youngju Nielsen "Global Trend of Bank Regulations"
- SKKGSB
- Hit1806
- 2023-07-18
[Maeil Business News Korea]
Prof. Youngju Nielsen from SKK GSB recently had a column published in Maeil Business News Korea with the title "Global Trends in Banking Regulation." Her column highlighted financial authorities' initiatives to enhance the banking sector by converting local banks into commercial banks and by promoting new bank licensing to foster competition and diversity. Fintech companies often want to be licensed as banks so they can accept deposits acceptance and provide loans, while big tech companies tend to prioritize service and technology provision over traditional banking due to regulations and social responsibilities. Prof. Nielson's article supports policy changes aligned with the evolving financial market and stresses the need for regulatory measures that demonstrate learning from past incidents, such as flawed risk management.