동일 기능․동일 리스크·동일 규제 적용에 대한 논리적 결함: 핀테크와 금융기관의 리스크 비교를 중심으로

초록

This study quantitatively compares and analyzes the financial risks between fintech companies and traditional financial institutions to examine the validity of the “same function, same risk, same regulation” principle and to discuss regulatory equity. The analysis revealed that major commercial banks exhibit higher credit risk, market risk, and operational risk compared to internet-only banks based on fintech, indicating that all key financial risks are more pronounced in commercial banks. Additionally, among non-core financial risks, liquidity risk, reputation risk, legal risk, and systemic risk were also found to be higher in commercial banks than in internet-only banks. However, in the case of concentration risk, internet- only banks showed higher levels than commercial banks. These findings suggest that it is not appropriate to apply uniform regulations to all financial institutions and highlight the necessity for differentiated regulatory approaches that reflect the unique characteristics of fintech companies. This research provides clear evidence for the regulatory equity debate between fintech and traditional financial institutions and could contribute to policymakers in establishing a more balanced regulatory framework.

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