Reports, discussion papers, studies, and publications issued by regulators, government bodies, and public institutions that may be relevant to the evolving policy, supervisory, and institutional environment for the sector.
The working paper examines the relationship between household financial literacy, monetary policy transmission and financial stability, using data from the European Central Bank’s Consumer Expectations Survey.
View reportThe Guidelines establish a more proportionate and consistent framework for managing third-party risk, aligned with DORA, with a focus on arrangements supporting critical or important functions (CIFs) where disruption could materially impair a financial entity.
View reportReports and research relevant to lending, credit markets, digital lending, underwriting, collections, customer outcomes, portfolio trends, risk, and related regulatory or market developments across the sector.
The report examines five case studies across to assess how data- and AI-powered AgFinTech solutions can address the financing gap for smallholder farmers.
View reportThe article examines how climate events affect borrower livelihoods and repayment capacity; it recommends 3 measures: tagging climate events against borrower geography, livelihood and repayment performance; incorporating district-level climate hazard data and borrower livelihood profiles into credit-risk assessments; and pre-designing targeted relief mechanisms, including repayment flexibility, restructuring, insurance and adaptation finance.
View reportThe report finds that India’s retail lending market grew 16.6% YoY to ₹170.2 lakh crore in March 2026, driven by strong expansion in gold loans, consumer durable loans, and vehicle finance.
View reportThe working paper finds that increased PSL between 2020-25 did not significantly influence district-level output growth in the medium term, suggesting that access to credit may no longer be a binding growth constraint in many areas.
View reportThe piece highlights that despite ~7.7 crore nano-enterprises forming the bulk of last-mile borrowers in India, access to formal credit remains limited due to thin credit histories and lack of collateral.
View reportReports and studies relevant to payments, payment infrastructure, digital transactions, consumer behaviour, ecosystem developments, innovation, and related policy or market shifts across the payments landscape.
The report examines how technological innovation, changing user demand and new payment entities and infrastructures are reshaping payment systems, with implications for their safety, efficiency and trust in money.
View reportThe report examines how digital cash systems can balance cash-like payment privacy with regulatory requirements, including AML/CFT, fraud prevention and financial stability.
View reportThe report supports implementation of the G20 Roadmap for Enhancing Cross-border Payments by recommending that payment service providers disclose key information to payers and payees, including total transaction costs and currency conversion charges, expected delivery times, payment status tracking and applicable terms of service.
View reportThe SFA established common standards for payment service providers on pricing transparency, fair marketing, fraud prevention, consumer protection, data privacy, and operational resilience.
View reportThe paper argues that fast payment systems (FPS) have the potential to generate broader macroeconomic benefits by accelerating the flow of money and information across the economy.
View reportThe paper highlights the need for greater cross-border payment connectivity in the ASEAN+3 region to improve efficiency and support regional integration.
View reportThe guidance outlines the FCA’s regulatory approach to payment institutions, e-money institutions, account information service providers, and other firms operating under the UK’s payment services.
View reportThe note highlights that the growing gig economy is increasing demand for faster, lower-cost, and more reliable payment mechanisms, particularly in emerging markets.
View reportThe report argues that the future financial system will likely be built on a mix of stablecoins, tokenized deposits, and CBDCs rather than a single form of digital money.
View reportThe paper finds that widespread stablecoin adoption could significantly reshape the international monetary system, particularly in emerging market and developing economies, by strengthening their role as private- sector stores of value and means of payment.
View reportThe brief finds that cashless payments continue to grow globally, driven by credit transfers in emerging markets and card payments in advanced economies.
View reportThe bulletin highlights that emerging markets such as India (UPI) and Brazil (Pix) have driven digital payment adoption through interoperable account-to-account (A2A) payment infrastructure rather than card networks.
View reportPublications covering technology, data, AI, cybersecurity, fraud prevention, privacy, digital infrastructure, data governance, automation, and other emerging themes influencing FinTech and BFSI.
The guidelines establish a risk-proportionate framework centred on four key expectations: strengthening board and senior management oversight with clear accountabilities; identifying, assessing and managing AI risks across the AI lifecycle; managing risks arising from third-party AI use; and calibrating governance and controls to the scale and materiality of AI use.
View reportThe Bulletin examines investment relationships among major global AI firms between 2021 and 2025, highlighting the growing overlap between financial investments and commercial supply-chain relationships.
View reportThe whitepaper examines anticipated adoption of agentic commerce and the sectors likely to lead it.
View reportThe report sets out 12 sound practices to guide financial institutions in the responsible adoption of AI.
View reportThe report examines gaps in the monitoring and oversight of AI agents, particularly as their deployment expands into regulated sectors such as banking and healthcare.
View reportThe article examines the evolution of quantum technology through three stages.
View reportThe report identifies Indian companies across the AI value chain and estimates a potential IPO opportunity.
View reportThe report examines grievance redress mechanisms (GRMs) across 15 digital public infrastructure (DPI) systems in Brazil, India, South Africa, Benin and Ethiopia, covering instant payment systems, digital identity and data exchange platforms.
View reportA reference guide covering AI security, governance and assurance terminology.
View reportThe paper proposes enterprise-grade risk management guidance for the safe, secure and trustworthy deployment of open-weight AI models.
View reportThe report examines the potential impact of quantum technologies across 12 research themes, covering quantum sensing, communication and computing.
View reportThe paper proposes a practical governance framework for generative and agentic AI systems, highlighting the limitations of traditional model risk management (MRM) frameworks in addressing their stochastic behaviour, opacity, third-party dependencies and runtime autonomy.
View reportThe DRCF’s four members – the CMA, FCA, ICO and Ofcom – set out their approach to the growing adoption of personal AI agents in the UK.
View reportThe standard offers guidance on identifying and mitigating threats to AI systems across their lifecycle.
View reportThe report examines the changing security landscape in Asia and the Pacific, arguing that conventional security strategies are increasingly misaligned with the region’s multidimensional risks.
View reportThe report, commissioned by the Seoul Metropolitan Government, examines the development of AI, FinTech, digital currencies and financial infrastructure across major Asian financial centres in 2026, including Seoul, Singapore, Hong Kong, Tokyo and Shenzhen.
View reportThe policy model draws on AFI members’ experiences and peer learning to provide practical and flexible guidance for strengthening financial consumer empowerment, market conduct and consumer protection.
View reportThe playbook examines how organisations can incorporate responsible AI practices into the development and day-to-day use of generative AI.
View reportThe paper finds that AI is increasingly shaping consumer discovery and choice in banking and insurance, with 50% of surveyed European consumers beginning product research through AI tools and nearly 90% saying AI influenced their final choice.
View reportThis paper examines how agentic AI systems are being developed, deployed and governed in practice.
View reportThe FCA received 123 responses on the benefits, priorities and barriers to tokenised securities in UK wholesale markets, with most respondents identifying post-trade applications, particularly more efficient collateral movement, as the main opportunity.
View reportThe paper examines how frontier AI models are changing the cyber threat landscape.
View reportThe paper presents a framework for monitoring traditional AI, generative AI, and autonomous AI agents, focusing on governance, risk, performance, model drift, misalignment, and security.
View reportThe ESAs highlight that the advanced capabilities of frontier AI models are accelerating cyber risks and could create systemic risks by rapidly identifying and exploiting vulnerabilities, targeting shared infrastructure, and leveraging single points of failure.
View reportThe report estimates USD 400 Bn.+ in annual global fraud losses, a 100x+ decline in the cost of sophisticated attacks, and finds that synthetic identity fraud accounts for 48.3% of fraud in Latin America.
View reportThe report identifies 12 active fraud vectors targeting banks, lenders, fintechs and payment ecosystems, with key threats including AI-enabled credit washing, seasoned synthetic identities, data poisoning of fraud models, AI-cloned lender/dealer websites, camera-injection KYC bypasses, AI-forged email and voice scams, and malware that hijacks trusted devices or banking sessions.
View reportThe report provides insights into the adoption and use of AI among entities operating in GIFT IFSC, covering key AI use cases, implementation priorities, expected benefits and challenges, as well as AI governance practices and the evolving role of AI in financial services.
View reportThe report examines China's AI governance framework, noting that China has introduced stringent rules for high-risk AI applications (including recommendation algorithms, generative AI ("deep synthesis") technologies, and anthropomorphic AI services) while allowing greater flexibility for lower-risk innovation.
View reportThe review examines how AI could transform retail financial services by 2030, highlighting a shift towards AI-enabled, autonomous financial decision-making.
View reportThe report provides a comparative assessment of emerging AI governance frameworks, highlighting a spectrum of regulatory approaches ranging from the United States' market-led model to China's command-and-control framework and the European Union's risk-based co-regulatory approach.
View reportThe report highlights that AI-powered supervisory technology (SupTech) remains significantly less prevalent among financial sector authorities in emerging markets and developing economies (EMDEs) than in advanced economies, despite its potential to enhance supervisory effectiveness, reduce compliance costs, and advance financial inclusion.
View reportThe paper examines the need to balance the benefits of AI-enabled, data-driven financial services with considerations relating to privacy, accountability, consumer protection, and competition, and explores the future implications of agentic AI operating within increasingly interconnected Open Finance ecosystems.
View reportThe bulletin highlights that future systemic cyber risk will depend on access to frontier AI models, compute resources, and economic incentives, and calls for the rapid adoption of AI for vulnerability detection and code review, alongside greater international coordination to strengthen cyber resilience.
View reportThe plan sets out recommendations to accelerate the adoption of AI across the UK's financial services sector, including clearer regulatory coordination, a review of AI-generated financial guidance, standardised AI disclosures, strengthened oversight of critical AI and cloud providers, AI incident-sharing mechanisms, AI assurance frameworks, workforce upskilling, attraction of global AI talent, and the development of a trust framework to support agentic payments.
View reportThe report examines the growing competition between open-source and proprietary AI models, arguing that open-source AI is reshaping the competitive landscape by lowering barriers to innovation, accelerating adoption, and reducing dependence on a small number of frontier model providers.
View reportThe brief examines the rapidly expanding market for AI sovereignty solutions, finding that while major AI providers offer products to strengthen domestic control over AI infrastructure, data, and model deployment, these solutions often reconfigure rather than eliminate reliance on foreign technology providers.
View reportThe paper examines how GenAI can enhance risk management and compliance functions by improving analysis, decision support, and operational efficiency in areas such as AML, fraud detection, and regulatory compliance.
View reportThe paper argues that intense competition among AI firms in a winner-take-most market may lead to socially excessive investment, with firms investing around 50% above the efficient level under baseline assumptions.
View reportThe report sets out global sound practices for the responsible adoption of Artificial Intelligence (AI) in financial services, emphasizing strong governance, risk management, third-party oversight, and regulatory cooperation to safeguard financial stability.
View reportThe report examines how Digital Public Infrastructure (DPI), including digital identity, digital payments, and data-sharing systems, can drive inclusive economic development while emphasizing the need for strong governance, interoperability, privacy, and public trust.
View reportThe paper argues that effective AI governance in finance requires a human-in-the-loop approach, making financial institutions and individuals accountable for AI-driven decisions while addressing risks from opaque algorithms, bias, and systemic instability.
View reportThis handbook provides a comprehensive overview of the legal, ethical, and policy challenges of artificial intelligence, examining its governance, regulation, and societal impact across sectors such as finance, healthcare, education, and law enforcement, with a particular focus on Europe.
View reportThe report examines how AI is being used for social innovation across Asia, highlighting that scaling its impact requires stronger governance, data infrastructure, financing, and institutional capacity, not just advanced technology.
View reportThe circular outlines the HKMA’s updated regulatory guidance for strengthening banks' operational resilience and risk management to ensure the continuity of critical financial services amid disruptions and cyber threats.
View reportThe report surveys 49 jurisdictions to examine how securities regulators are adopting supervisory technology (SupTech), including AI, data analytics, and cloud tools, to improve market oversight, investor protection, and regulatory efficiency while addressing cybersecurity, funding, and skills challenges.
View reportThe report examines how AI is transforming entry-level jobs and proposes a framework to help employers, educators, and policymakers redesign early-career pathways while protecting access to work and future talent development.
View reportThe report examines how emerging markets can build sustainable open finance ecosystems by designing effective incentives, liability frameworks, and performance measurement systems to promote innovation, competition, and financial inclusion.
View reportThe report finds that fraud has evolved into a sophisticated, AI-enabled and cross-border ecosystem, requiring organisations to adopt intelligence-led, next-generation forensic capabilities instead of traditional reactive investigations.
View reportThe report finds that successful public-sector AI adoption depends on deliberate governance, strong data-sharing frameworks, AI- specific guidance for civil servants, and investment in skills and infrastructure.
View reportThe report outlines two approaches to AI sovereignty: trusted international partnerships and extensive domestic ownership.
View reportThe article argues that unequal access to high-quality AI agents could create a new form of economic inequality, with well-resourced firms and individuals gaining disproportionate advantages through automation, scale, and better decision-making.
View reportThe paper proposes a “bounded delegated authorisation” framework and a new category of Digital Assistant Payment Services (DAPS) to ensure accountability when AI agents exceed their authorized scope.
View reportThe paper highlights how combining AI with open banking data can improve operational efficiency, customer services, fraud prevention, cybersecurity, and compliance.
View reportThe playbook introduces the Agent Capability and Authorization Profile (ACAP), a framework for defining, enforcing, and monitoring the authority delegated to AI agents.
View reportThe paper examines how global AI governance is increasingly shaped by geopolitical competition, arguing that the EU should pursue a distinct approach rather than replicate the state-driven models emerging in the US and China.
View reportThe paper identifies financial fraud and scams as a major threat to digital finance and highlights over 50 solutions, including AI- enabled tools, across consumer education, fraud prevention, detection, disruption, and recovery.
View reportThe paper finds that effective supervision must be embedded from the outset for open finance.
View reportThe paper highlights that AI is increasingly being used across the digital lending lifecycle, from customer acquisition and onboarding to credit scoring, pricing, servicing, monitoring, and collections.
View reportWhile 61% of SMEs report using AI, a large majority (76%) remain “AI novices” relying on basic, off-the-shelf tools, with only a small share adopting advanced or organisation-wide AI (≈9%).
View reportWell-designed synthetic data can safely enable AML innovation by replicating real transaction patterns Crucially, datasets embed realistic money-laundering typologies (e.g., structuring, layering, circular flows) with varying detectability but require continuous updates as criminal behaviour evolves.
View reportAI capability and adoption are accelerating rapidly, with models reaching or surpassing human-level performance in complex tasks and 88% of organisations now using AI, while GenAI adoption has scaled faster than the internet.
View reportThe paper highlights that foundation models introduce unprecedented, system-wide privacy risks across their lifecycle, including data scraping and memorisation to sensitive user disclosures and adversarial attacks (e.g., prompt injection, model inversion).
View reportThe paper finds that AI production is highly concentrated, with the U.S. (~700 firms) and China (~250 firms) dominating globally, while most other economies specialise in only a few layers of the AI supply chain.
View reportThe note highlights that agentic AI could fundamentally shift payments from human-initiated actions to autonomous, agent-driven decision-making.
View reportThe report highlights that AI is the primary accelerant reshaping competition (faster product builds, lower costs, new entrants), alongside the rise of digital assets (e.g., stablecoins) and increasing strategic use of banking licenses, while success is increasingly defined by trusted distribution, strong unit economics, and regulatory credibility rather than product features alone.
View reportAI adoption in financial services is outpacing regulators, with fintechs leading incumbents and use cases concentrated in internal operations rather than business model transformation, while GenAI and agentic AI emerge as the most accessible frontiers
View reportThe paper highlights that open finance is driving innovation, competition, and financial inclusion across jurisdictions.
View reportThe paper notes that while DLT and tokenisation can improve innovation in financial services, their benefits depend on legal clarity, interoperability, and resilience, and must be balanced with the continued role of central bank money.
View reportThe playbook highlights that managing AI-driven labour disruption requires proactive policy action focused on reskilling, labour market forecasting, and targeted support for vulnerable groups.
View reportThe paper highlights that traditional model risk frameworks are inadequate for GenAI and agentic AI systems, requiring a shift to continuous, system-level governance with real-time monitoring, dynamic controls, and stronger oversight of third-party dependencies.
View reportThe report finds that agentic AI could shift consumers from making decisions to delegating them, improving convenience and outcomes, but raises significant risks around manipulation, loss of consumer control, errors, and reduced competition.
View reportThe report finds that AI success in banking depends primarily on robust data infrastructure rather than algorithms, requiring real-time data pipelines, system decoupling, and explainable models, while enabling use cases like alternative credit scoring and safer deployment through parallel “shadow mode” testing.
View reportThe report highlights that traditional, point-in-time identity verification is increasingly ineffective against evolving AI-driven fraud, requiring a shift to continuous, behaviour-based monitoring using financial data and cross-network signals to detect risks over the user lifecycle.
View reportThe report notes that 30–40% of all AI spending will soon be influenced by sovereignty requirements, urging technical architects and enterprise leaders to move beyond simple cloud migrations toward resilient, domestically aligned ecosystems; it emphasises “minimum sufficient sovereignty.”
View reportThe paper highlights that data governance is central to AI adoption in financial services, with key challenges around data privacy, quality, security, and third-party dependencies, especially for generative AI systems.
View reportMAS issued guidance on operationalising AI risk management in financial services, emphasising fairness, accountability and transparency.
View reportInternational reports and studies that provide perspective on global market developments, regulatory approaches, innovation trends, business models, emerging risks, and other themes relevant to members and the wider ecosystem.
This case study examines Thailand’s transition from first-generation financial inclusion, focused on account ownership and access, to a second-generation agenda centred on meaningful consumer outcomes.
View reportThe report examines the growing risks posed by digital scams across ASEAN+3 economies amid increasing digitalisation, financial integration and cross-border connectivity.
View reportThe report finds that global fintech has rebounded strongly, with revenues surpassing USD 500 billion in 2025 after 22% annual growth, driven by improving profitability, AI adoption, and more selective investment.
View reportThe report highlights elevated global financial stability risks driven by the Middle East conflict, inflation pressures, and tightening financial conditions, with markets already reacting (equities down ~8%, bond yields rising).
View reportThe report finds that global illicit financial activity has surged to $4.4 trillion, driven by rapid growth in AI-enabled fraud and scams.
View reportThe report finds that Australia’s FinTech sector is poised for rapid growth to $71 billion in revenue and $37 billion GDP contribution by 2035, but highlights that limited access to capital remains a key constraint on scaling and innovation.
View reportCross-cutting and broader reports of relevance to the ecosystem that do not sit neatly within a single theme, including wider BFSI, institutional, market, or thematic publications that may still be useful to members.
The article examines why access to formal financial services does not necessarily translate into financial resilience, highlighting that consumers may remain vulnerable to economic shocks despite being financially included.
View reportThe report presents findings from the fourth joint survey of AI and ML adoption across UK financial services, covering 196 firms.
View reportThe guidance maps accountability across technical touchpoints and decisions in the AI lifecycle.
View reportThe report examines the role of Digital Public Infrastructure (DPI) in improving public service delivery, focusing on India's Direct Benefit Transfer (DBT) and Ayushman Bharat Digital Mission (ABDM), alongside Australia's welfare delivery and My Health Record systems.
View reportThe paper sets out 12 key considerations (KCs) for addressing cyber-enabled fraud in financial services, with the objective of safeguarding trust in the financial system while supporting financial inclusion, consumer protection, integrity and stability.
View reportThe report examines the next wave of consumer credit demand in India, offering a comprehensive diagnostic of India’s evolving consumer credit landscape, and providing financial institutions, fintechs, and policymakers with actionable blueprints for sustainable growth.
View reportThis report serves as both a comprehensive diagnostic of the credit landscape for aspirational businesses, and a strategic roadmap for regulators, banks, NBFCs, and FinTechs in India.
View reportThe working paper develops a framework for financial sector authorities to measure how financial services and policies affect people’s financial well-being.
View reportFSB Chair Andrew Bailey highlighted the potential impact of frontier AI on cyber risk, noting that increasingly autonomous and capable frontier AI models could materially alter the speed, scale and economics of cyber risks and potentially undermine confidence across the financial system.
View reportThe report presents a reference architecture for deploying agentic AI in banking, arguing that the core challenge is not the AI model itself but building a trustworthy system around it.
View reportThe toolkit provides a practical framework for identifying, assessing, treating, monitoring and reporting risks associated with the design, procurement, deployment and use of AI across its lifecycle.
View reportThe 28th edition of the Handbook provides updated time-series data on key macroeconomic and financial indicators, including national income, prices, money, banking, financial markets, public finances, foreign trade, balance of payments, and socio-economic indicators.
View reportThe report finds that fintech lenders continue to expand their share of retail credit originations, accounting for around 25% of origination volumes, with growth extending beyond small-ticket personal loans into higher-value personal, business, and property lending.
View reportThe report examines the evolving cyber-threat landscape across banking, financial services, insurance, and payments, with particular attention to AI-enabled phishing, malware, social engineering, ransomware, credential theft, cloud vulnerabilities, and supply-chain risks.
View reportThe report highlights widening disparities in AI development and access across countries, underscores the absence of robust mechanisms to reliably govern highly autonomous AI systems, and calls for globally coordinated, evidence-based AI governance, stronger evaluation and oversight frameworks, and greater investment in technical capacity to ensure that AI benefits are equitably distributed while mitigating systemic risks.
View reportThe guidance outlines the cybersecurity risks that cryptographically relevant quantum computers pose to the financial sector and finds that, while Swiss financial institutions recognise these risks, many lack a clear roadmap for migrating to quantum-safe encryption.
View reportThe report finds that India’s financial services sector has achieved strong digital and market expansion but must deepen credit access, strengthen debt markets, modernise financial infrastructure, and expand financial inclusion to support its long-term economic growth ambitions.
View reportThe report finds that promoting competition in digital financial services through interoperable infrastructure, proportionate regulation, open access, and targeted policy interventions can expand financial inclusion, attract private capital, and foster innovation in emerging economies.
View reportThe report highlights how India's Account Aggregator ecosystem is accelerating open finance by enabling secure, consent-based data sharing that delivered nearly 3.8 crore financial services across lending, insurance, capital markets, and personal finance in FY26.
View reportThe report provides a global best-practice framework for preventing scam advertising through risk-based advertiser verification, AI-assisted monitoring, transparency, human oversight, and cross-sector collaboration to protect consumers and strengthen trust in digital advertising.
View reportCGAP's report outlines six policy priorities to help regulators harness emerging technologies like AI, open data, tokenization, and embedded finance to expand financial inclusion while managing risks and preventing new forms of exclusion.
View reportThe report recommends aligning AI adoption with strategic priorities, ensuring organizational readiness, and validating solutions through pilots before scaling deployment.
View reportDigital finance is expanding access to payments, credit, savings and insurance, but is simultaneously driving new risks, especially rising fraud/scams and over-indebtedness among digital users, resulting in mixed financial health outcomes despite higher adoption.
View reportThe compendium consolidates India’s fragmented advertising regulations across media, sectors, and self-regulatory frameworks into a single reference.
View reportThe report highlights how children are increasingly interacting with FinTech both directly and indirectly across products and platforms.
View reportThe paper recommends mandatory membership for all banks, coverage of most retail deposits (including widely used foreign currency deposits), and availability of funds to support bank resolution while ensuring depositor continuity.
View reportThe paper highlights that India’s digital public infrastructure (Aadhaar, Jan Dhan, UPI) has enabled large-scale financial inclusion, but raises concerns that rapid credit expansion may not translate into sustainable economic outcomes and could risk over-indebtedness.
View reportThis guide analyses evolving global financial-crime trends, highlighting the rapid growth of AI-enabled fraud and scams.
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