“BigTech” in the Financial Sector:  More Choice for the Consumer, More Challenges for the Regulator?

SEACEN financial sector supervision experts Mark McKenzie and Glenn Tasky talk with prolific writer and educator Professor Douglas Arner, Kerry Holdings Professor in Law and Co-Founder, Asian Institute of International Financial Law, Faculty of Law, University of Hong Kong, about the entry of BigTech – companies such as Facebook, Apple, Google, Microsoft, Amazon, Alibaba, and Tencent – into the provision of financial services such as lending, payments, and even exotic cross-border instruments such as stablecoins.  What are the benefits these big players bring, and what are the risks of allowing firms that are already big in other markets potentially dominate banking as well?