The impact of Fintech and digitisation on the Belgian banking sector

This study by the National Bank of Belgium (NBB) analyses the trends, developments, opportunities, risks, and threats related to digitisation in the Belgian banking sector, to the use of innovative technologies and to the entry into the market of new players and competitors. Following up on the NBB’s 2017 prior study of digitisation and of fintech in the Belgian banking sector, this renewed study provides an updated overview of those trends and developments, and of the initiatives illustrating the digital transformation of Belgian banks. The study concludes with the NBB's observations and recommendations, formulating a number of points for attention with respect to both the organisation and the functioning of Belgian banks, while emphasising the importance of an active dialogue.