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Will digital innovation disintermediate banking — and can regulatory frameworks keep up?

Will digital innovation disintermediate banking — and can regulatory frameworks keep up?

Many of Europe’s economies are hampered by a waning number of innovations, partially attributable to the European financial system’s aversion to funding innovative enterprises and initiatives. Pēteris Zilgalvis discusses his recent Policy & Internet article The Need for an Innovation Principle in Regulatory Impact Assessment: The Case of Finance and Innovation in Europe (2014 6,4), which argues for the adoption of an “innovation principle” in regulatory impact assessment that prioritizes regulatory approaches that serve to promote innovation.