By FINTECH Books Contributor, Francesca Gaudino The rapid development that we are witnessing in the FinTech environment is meant to be shaped and some how driven not only by the legislator, that will establish boundaries and requirements, but also by the social perception of FinTech matters. The FinTech revolution, among others, is also about a different approach to personal information. Use of individuals’ data will materially increase in terms of number of data collected and processed, as well as in terms of potential exploitation. This raises a number of concerns for the rules to be applied in the collection and use of data; indeed, the path towards compliance is being depicted as a hard one, especially in light of the new European Regulation on data protection (so named GDPR) which will have tremendous impact also for non-EU based companies due to the wide criteria of applicability that have been set out. Stakeholders are expected to take due care of privacy and also security concerns, yet are also expected to take account of the social impact of the FinTech environment. In some cases, an action that is required by the law may be condemned by the public. The fact that FinTech is meant to make massive use of individuals’ information sharply increases the possibility of conflicts and situations where deciding if pursuing or not a specific initiative may be driven by public judgement more than legal concerns. This is true especially nowadays, where reputation and consideration are significantly driven by the web. Stakeholders should thus open their mindset to cover also social aspects and should be well equipped to tackle the social dimension. If you would like to learn more about FinTech please look at our video courses at FINTECHCircleInstitute.com