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The Impact of Financial Technology and Cyber Risk on Non-Bank Financial Intermediation

In: Shadow Banking and Financial Risk in Emerging and Developing Markets

Author

Listed:
  • Nomasomi Ngonyama

    (University of Fort Hare)

  • Bahle Mgxekwa

    (University of Fort Hare)

  • Kin Sibanda

    (Walter Sisulu University)

Abstract

This chapter examined the role of financial technology (fintech) in shaping the operations of non-bank financial intermediaries (NBFIs). It investigated key areas such as operational efficiency, credit expansion, financial inclusion, and shifts in market structure driven by technological advancements. Additionally, the chapter highlighted the growing cyber risks associated with fintech adoption, including data breaches and unauthorized access to sensitive financial data, which pose significant threats due to the high-value information held by NBFIs. The discussion extends to the implications for global regulatory frameworks, particularly concerning anti-money laundering (AML) and counter-terrorism financing (CTF) measures. Through a comprehensive literature review, the chapter assessed how cybersecurity vulnerabilities in NBFIs could potentially destabilize the broader financial ecosystem. The findings aim to inform policymakers and industry stakeholders on balancing innovation with risk mitigation in an increasingly digital financial landscape.

Suggested Citation

  • Nomasomi Ngonyama & Bahle Mgxekwa & Kin Sibanda, 2025. "The Impact of Financial Technology and Cyber Risk on Non-Bank Financial Intermediation," Palgrave Macmillan Studies in Banking and Financial Institutions, in: Sheunesu Zhou (ed.), Shadow Banking and Financial Risk in Emerging and Developing Markets, chapter 0, pages 275-306, Palgrave Macmillan.
    • Handle: RePEc:pal:pmschp:978-3-031-86224-3_11
    DOI: 10.1007/978-3-031-86224-3_11
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