Background
The Non‑Bank Financial Services Authority (FSA) initiated a formal institutional review of its functions and organizational structure as they relate to financial technology (FinTech) and digital transformation in the non-bank financial sector. On 18 May 2026, the FSA working group held its inaugural meeting to review the functions and structure of the Non‑Bank Financial Services Authority related to FinTech and digital transformation.
The review was established under the direction of the Ministry of Economy and Finance and is aligned with the government’s administrative reform strategy. The working group is chaired by the Secretary of State at the Ministry of Economy and Finance, who serves as Vice Chair of the FSA Council and heads the review team.
Scope of Application
The review covers the institutional functions and organizational design of the Non‑Bank Financial Services Authority as they affect oversight of FinTech activities and the authority’s digital transformation efforts. The scope explicitly includes analysis of information and communications technology (ICT) functions within the FSA and how those functions intersect with non‑bank financial regulation and administrative responsibilities.
Key Provisions or Decisions
The working group convened two technical presentations: one on the review and analysis of FSA functions and structure related to FinTech and digital transformation delivered by the FinTech Center deputy director; and a second presentation by a representative of the FSA General Secretariat that included an analysis of ICT-related functions. Participants included senior officials from the Ministry of Economy and Finance, the FSA General Secretariat, the FinTech Center of the FSA, internal audit and ICT units, and other designated secretariat staff who form part of the working group.
Implications for Investors, Businesses, or Compliance
A structured review of institutional functions and organizational design can clarify administrative responsibilities and ICT governance within the authority, which is relevant for non‑bank financial service providers planning compliance and operational arrangements. Stakeholders in the FinTech sector should monitor outcomes from the review for any subsequent changes to formal responsibilities, reporting lines, or compliance interfaces with the FSA.
Official Source
Source: FinTech Portal of the Non‑Bank Financial Services Authority social media post, 18 May 2026. Original post: https://www.facebook.com/fintechcenterfsa/posts/pfbid02vHDPBkmyDRbZxuFZKEEDEM5dfks8KR7yaceakah5yUiKhaYQReBu4e9p5cVPt3DJl
