GRA · Fintech Nexus
Spatial financeWhere capital meets hazard, exposure and transition
Fintech Nexus
Financial technology, digital platforms, innovation-related vulnerabilities and professional learning. Fintech Nexus is an established platform of The Global Risks Alliance.
- STEM methods
- 5
- Canonical methods this field applies
- Topics
- 9
- Subject pages in the field
- Counterparts
- 4
- Platforms in shared fields across the network
- Report series
- 2
- Reports series it contributes to
The workspace for Fintech Nexus.
Fintech risk and operations
Fintech F1 · Week 10 · Example interface, not a record
- Active users134,6815Active
- API uptime, %99.46Normal
- Fraud per 10,000 transactions51Alert
- Complaints open81Watch
Fraud rate by channel
Credit model fairness
| Women | 59 | 5 | Review |
| Rural | 39 | 8 | Review |
| Under 25 | 39 | 7 | Review |
Fintech Nexus · Fintech risk and operations. Fintech risk and operations: example names and illustrative values, not a record.
What the work is read against.
The platform does not set standards. It reads its evidence against the frameworks that competent bodies have adopted, so a finding can be placed where a decision-maker already works.
| Framework or standard | Body | What it sets |
|---|---|---|
| CPMI-IOSCO Principles for financial market infrastructures (PFMI) | CPMI and IOSCO | Risk management, governance, settlement, operational risk and access standards for payment systems, securities settlement systems, central counterparties and trade repositories |
| Digital Operational Resilience Act (DORA) | European Union | ICT risk management, major incident reporting, resilience testing and oversight of critical ICT third-party providers for EU financial entities |
| Principles for operational resilience | Basel Committee on Banking Supervision | Expectations for banks to identify critical operations, set tolerance for disruption, map dependencies and manage third-party and ICT risk |
| FATF Recommendations, including Recommendations 15 and 16 | Financial Action Task Force | Standards for anti-money laundering and counter-terrorist financing, risk-based due diligence, virtual asset rules and the travel rule for transfers |
| Revised Payment Services Directive (PSD2) and open banking standards | European Union and EBA; UK Open Banking Standard; Berlin Group | Licensing of payment and account information services, strong customer authentication and secure interfaces for third-party access |
| ISO 20022 financial services messaging | International Organization for Standardization, TC 68 | Common methodology and message definitions for payments, securities and other financial messaging |
| NIST Cybersecurity Framework | National Institute of Standards and Technology | Outcomes to govern, identify, protect, detect, respond to and recover from cyber risk |
| Markets in Crypto-Assets Regulation (MiCA) | European Union | Authorisation, disclosure, reserve and conduct rules for crypto-asset issuers and service providers, including stablecoin issuers |
| G20 High-Level Principles for Digital Financial Inclusion | G20 Global Partnership for Financial Inclusion (GPFI) | Principles for digital approaches to inclusion, balancing innovation and risk, consumer protection, literacy and measurement |
| High-level recommendations for crypto-asset activities and global stablecoin arrangements | Financial Stability Board | Regulation, supervision and oversight of crypto-asset activities and stablecoins on a same activity, same risk, same regulation basis |
How a shock to assets becomes a system loss.
The equity the system loses after interbank contagion, against the initial hit, as leverage, interconnection and recovery rates change, the core of a macroprudential stress test. Teaching model with stated illustrative values, not a prediction.
Controls
- Fall in external assets
- 2.0%
- Leverage (assets over equity)
- 10 times
- Interbank share of assets
- 10%
- Recovery on interbank claims
- 40%
- Banks in the system
- 20
- Core banks
- 20% of banks
Readouts
- Equity lost to the initial shock
- 18.0%
- Equity lost after contagion
- 45.0%
- Added by contagion (DebtRank)
- 27.0 points
- Banks in default
- 0
Numbers, methods and sources
| Round | System equity lost (%) | Banks in default |
|---|---|---|
| 0 | 18.00 | 0 |
| 1 | 28.80 | 0 |
| 2 | 35.28 | 0 |
| 3 | 39.17 | 0 |
| 4 | 41.50 | 0 |
| 5 | 42.90 | 0 |
| 6 | 43.74 | 0 |
| 7 | 44.24 | 0 |
| 8 | 44.55 | 0 |
| 9 | 44.73 | 0 |
| 10 | 44.84 | 0 |
| 11 | 44.90 | 0 |
| 12 | 44.94 | 0 |
| 13 | 44.96 | 0 |
| 14 | 44.98 | 0 |
| 15 | 44.99 | 0 |
| 16 | 44.99 | 0 |
| 17 | 45.00 | 0 |
| 18 | 45.00 | 0 |
| 19 | 45.00 | 0 |
| 20 | 45.00 | 0 |
| 21 | 45.00 | 0 |
| 22 | 45.00 | 0 |
| 23 | 45.00 | 0 |
| 24 | 45.00 | 0 |
| 25 | 45.00 | 0 |
| 26 | 45.00 | 0 |
| 27 | 45.00 | 0 |
| 28 | 45.00 | 0 |
| 29 | 45.00 | 0 |
| 30 | 45.00 | 0 |
Methods
- DebtRank Battiston and others (2012), Scientific Reports 2:541
- Differential DebtRank Bardoscia and others (2015), PLOS ONE 10
- Contagion in financial networks Gai and Kapadia (2010), Proc. R. Soc. A 466
- Clearing in financial networks Eisenberg and Noe (2001), Management Science 47
- Uncertainty fan (parameter Monte Carlo) Spiegelhalter, Pearson and Short (2011), Visualising uncertainty about the future, Science 333
- One-at-a-time sensitivity (tornado) Saltelli and others (2008), Global Sensitivity Analysis: The Primer, Wiley
Data
No observed data enters this model: it runs on the teaching values set by the controls, to be replaced with a programme’s own evidence.
Across the six pillars, led by Nexus Consortium
- Experiments Labs
- Built in Fintech Nexus in Foundry
- Tested at Fintech Nexus in Universe
- Codified in Finance, Insurance and the Economy in Standards
- Published in Fintech Nexus in Reports
- Taught in Faculty of Finance and Economics in Academy
The questions this field works on.
Payments and innovation
New payment services and resilience.
TopicOpen finance
Data portability, privacy and access.
TopicDigital assets and tokenisation
Digital market infrastructure and risks.
TopicAI and automation
Financial model and decision risk.
TopicFinancial identity
Onboarding, fraud and exclusion.
TopicFintech operational risk
Cloud, cybersecurity and vendors.
TopicRegtech and supervision
Compliance technology as research.
TopicFinancial inclusion
Access, SMEs and equitable design.
TopicDigital assets risk
Digital asset and tokenisation research without exchange or custody.
What Fintech Nexus means for exposure, loss and capital.
The exposure, loss, scenario and capital views a risk officer, supervisor or ministry of finance would ask for, with the frameworks they report against. Structures follow supervisory and actuarial practice. Values are illustrative: never prices, ratings or advice.
Transmission channels
How a shock in Fintech Nexus reaches credit, market, underwriting, liquidity and operational risk, and feeds back.
Scenario pathways
How Fintech Nexus could be stressed under the scenario families central banks and supervisors use.
| Scenario family | Transition risk | Physical risk | What a stress test asks |
|---|---|---|---|
| Orderly | Early, gradual policy | Lower | Can the book absorb a steady repricing? |
| Disorderly | Late, abrupt policy | Lower to medium | What breaks under a sudden repricing and credit migration? |
| Hot house world | Limited policy | High and rising | Where do physical losses concentrate in collateral and insurance? |
The areas of capital markets and investment this platform takes on.
Fintech Nexus is the Global Risks Alliance’s platform for financial technology as a source of both risk and resilience: payments, open finance, tokenised infrastructure, digital assets, AI, identity, regtech and inclusion. Its pages set out how technology, operational, cyber and conduct risk develop and propagate through finance, the data that measure them, the standards they are read against and the institutions that decide. Its view is shared industry understanding, never investment advice.
Payments and market infrastructure
Instant, card, cross-border and wholesale payment systems, and their settlement, liquidity and continuity under stress.
Open finance and data
Data portability, interfaces, consent and liability when customers share financial data with other providers.
Tokenisation and digital assets
Tokenised money and securities, stablecoins and crypto-asset markets, and their links to regulated finance.
AI and automation
Machine learning and generative models in credit, fraud, trading and operations, and the governance of model risk.
Identity and onboarding
Customer identification, authentication, fraud at onboarding and the exclusion that rigid checks can cause.
Operational and cyber resilience
Cloud, third-party, cyber and change risk, and the ability to keep important services within tolerance.
Regtech and supervision
Compliance and supervisory technology, regulatory reporting, sandboxes and the evidence of their effectiveness.
Financial inclusion
Access and use for individuals and small firms, agent networks, digital credit and equitable design.
What Fintech Nexus does.
Fintech risk is the risk that financial technology, from instant payments and open finance to tokenised ledgers, AI and digital identity, introduces new failure modes or concentrates old ones. Fintech Nexus, the Global Risks Alliance’s platform for the field, treats technology as a source of both risk and resilience; it assesses, certifies or endorses no provider.
Its community
Fintech researchers; payments innovators; risk technologists; regtech specialists.
Its methods
Digital operating risk; product governance; model evaluation.
Its outputs
Fintech resilience guides; digital-risk research.
Why digital finance creates new paths for failure.
Finance has always run on technology, but the past two decades changed its structure. Payments clear in seconds through mobile wallets and instant payment systems; lending decisions are made by models trained on alternative data; banks and fintechs share customer data through application programming interfaces; core systems run on a small number of cloud providers; and distributed ledgers support new forms of digital assets. Each change brings real benefits, from lower costs to wider access, and each creates new dependencies.
Those dependencies change how failures spread. An outage at a widely used cloud or payment processor can stop services at many institutions at once. A flaw in a widely used model or software library can be replicated across firms. Faster settlement removes the time buffers that once allowed errors and fraud to be caught. Digital runs, where depositors move funds at the speed of an app, can drain liquidity faster than traditional supervision anticipated. Fraud migrates to the weakest point in a chain of interconnected services.
Innovation also raises questions of fairness and inclusion. Digital identity requirements can exclude people without documents; automated credit decisions can encode bias; and the benefits of open data depend on privacy and consent being real. Understanding these risks requires engineers, risk managers, economists and compliance specialists to work from a shared picture.
Shared understanding, without advice or solicitation.
Fintech Nexus builds shared industry understanding of digital operating risk, product governance and model evaluation. It publishes research that institutions, supervisors and researchers can use to understand risks in common, not advice on what any of them should do.
Fintech resilience guides
Research-based guides to operational, cyber and third-party risk in digital finance, describing practice without endorsing products.
Digital-risk research
Studies of how technology changes risk transmission, inclusion and market structure.
Professional learning
Material for practitioners on the risks and governance of financial technology.
GRA is a nonprofit business league for the financial services industry. It does not lend, underwrite, rate, invest, advise on or arrange transactions, and readiness work is not approval. Competition safeguards are designed and set out in a written policy.
Ten topics and two chapters.
- 01
Payments and innovation
- 02
Open finance
- 03
Digital assets
Digital market infrastructure and risks, with digital assets risk research without exchange or custody.
- 04
AI and automation
- 05
Financial identity
- 06
Fintech operational risk
- 07
Regtech and supervision
- 08
Financial inclusion
- 09
Built on named science, technology, engineering and mathematics.
Every claim on Fintech Nexus rests on methods with a canonical page in the STEM Commons, so readers can see what a finding depends on and where its limits lie.
How work moves in this field.
A question becomes evidence, a governed build, an organised community, a controlled test, a reviewed publication and, finally, a decision taken by the competent authority under its own rules.
- Question Universe National, regional or institutional priority. Question in Fintech Nexus
- Evidence Foundry STEM foundation of the platform. Evidence in Fintech Nexus
- Build Foundry Foundry. Build in Fintech Nexus
- Organise Universe Nexus ecosystem. Organise in Fintech Nexus
- Test Universe Universe (independent site). Test in Fintech Nexus
- Publish Reports Reports. Publish in Fintech Nexus
- Decide Competent authority Competent authorities and institutions, through NXS-RLS (participants, agreements and handoffs). Decide in Fintech Nexus
- Renew Universe Corrections and the next annual agenda. Renew in Fintech Nexus
Each step of the cycle in the pillar it runs in; the decision stays with the competent authority, outside the programme.
- Labs
- Foundry
- Universe
- Nexus Standards
- Reports
- Risk Academy
- Competent authority (outside the programme)
How this works across the six pillars.
Fintech Nexus works through six pillars of one annual programme, led by the Nexus Consortium, with the Global Centre for Risk and Innovation (GCRI), the Global Risks Forum (GRF) and GRA each contributing in its role: explore, experiment and prototype in Labs, build, simulate and prepare in Foundry, convene and test in Universe, codify, correct and apply in Nexus Standards, publish in every format in Reports, teach in the open in Risk Academy.
handoff in playrecorded handoffno direct handoff
Programme yearAll phases
Route
The whole programme
Every pillar hands its work to another; together they close the year’s feedback loops.
L · F · U · S · R · A
- Pillars
- 6 of 6
- Handoffs
- 18 of 18
- Loops
- 17 closed
Handoffs in play
- F01Universe → Foundry · Admitted mission becomes a cycle project with a decision caseReadiness preparation
- F02Foundry → Universe · Core Build Report and go or no-go evidenceControlled build
- F03Foundry → Reports · Sealed observations and indicator series behind a profileCloseout
- F04Universe → Reports · After-action and scenario findings for chapters 10 and 13After-action review
and 14 more
- LabsWhere questions become experiments and prototypes: new methods, data and tools are tried in the open, with their limits on record, before the Foundry builds them, under the Nexus Consortium.Labs
- FoundryWhere exposure and scenario evidence is built so supervisors, insurers and investors can read it.Fintech Nexus in FoundryFoundry
- UniverseWhere scenarios are tested in controlled exercises, and finance-readiness dialogues read what they mean for capital and cover.Fintech Nexus in Universeuniverse.nexus
- Nexus StandardsWhere disclosure and data rules are codified so risk evidence is comparable for finance and insurance.Finance, Insurance and the Economy in Standardsnexustandards.com
- ReportsWhere sector analysis and the finance and insurance readiness series are published, with exposure and limits stated.Fintech Nexus in ReportsReports
- Risk AcademyWhere finance, insurance and public-finance professionals learn to read risk evidence, on Risk Academy.Faculty of Finance and Economics in Academyrisksacademy.com
The same field, seen three ways.
GCRI studies a field as science, GRF governs it and GRA builds shared financial understanding of it. Fintech Nexus links to its counterparts so that work on one side is visible on the others.
- Cybersecurity and Digital ResilienceInstitutionGCRIShared fieldCyber and digital resilience
- Quantum TechnologiesInstitutionGCRIShared fieldCyber and digital resilience
- Digital Public InfrastructureInstitutionGCRIShared fieldDigital public infrastructure, Cyber and digital resilience
- AI and Digital GovernanceInstitutionGRFShared fieldDigital public infrastructure, Cyber and digital resilience
Pages in Fintech Nexus.
Industry scope and publisher
PageFinancial discipline overview
PageProfessional research
PageTechnology and emerging practices
PageResilience and finance readiness
PageResearch and industry programmes
PageAnalytical and data resources
PageProfessional community
PageProfessional learning
PageProfessional meetings
PageReports and sector briefs
PageMembership and research participation
PageContact the industry platform
PageAntitrust, independence and financial perimeter
PageSTEM foundation of Fintech Nexus
PageChapters
PageHow work moves in this field
PageBuild in Foundry
PageTest in Universe
PagePublish in Reports
PageThe same field across the Consortium
PageTopics
Where this page leads across the Consortium.
Questions and answers.
Who publishes Fintech Nexus?
Is Fintech Nexus active?
How can I contribute?
Where are findings published?
Which values on this platform are real?
How do I report an error?
Does Fintech Nexus recommend fintech products or firms?
Is GRA a regulator?
Contribute evidence from this page.
Reports is the Consortium’s quarterly publication. What you know about this subject can become evidence, a case or a correction in the next edition, credited to you and published under CC BY 4.0 where it is your own work.
- EmailGateway GW-GRASend it from this pageEvidence, a correction, a case, a method, a review, a translation or profile input. It arrives tagged with this page, so the editor who owns it receives it.
- ZenodoOpen depositDeposit it and submit to the communityPublish your own record on Zenodo with your ORCID iD, then submit it to the Reports community there. Curators review it; the DOI stays yours.
- ReportsGlobal Risks AllianceSee every way to contributeThe contribution types, how each is reviewed, what credit you receive, the licence and what is never accepted.
Never send personal data, sensitive infrastructure detail or anything you have no right to share. A contribution is reviewed before use; sending it confers no authorship or editorial rights, and sponsorship never buys a finding.
How Fintech Nexus works.
Choose a view and press Play to follow the platform’s process, its programme year, the standards it applies and how its findings are published. The outline shows how the work is designed to run, not the status of any decision.
Fintech Nexus
How Fintech Nexus works
Platforms · Programme year · Standards · Reports
A platform joins a field to named methods, labelled evidence and the outputs it publishes, without becoming the authority it serves.
01 Scope
- 01Field and familiesStart · The platform leadThe home states the field, its families and who it serves.
- 02Topic dossiersRecord · Platform authorsTopics explain the subject with labelled evidence.
02 Evidence
- 03Evidence labelsRecord · GCRIEach value is labelled: observed, published statistics, estimated, modelled, scenario or unknown.
- 04MethodsStep · Method ownersMethods come from the STEM Commons, each with one canonical page.
03 Work
- 05Scenarios on the systemsModel · Foundry pillarScenarios run on the Nexus systems, labelled as scenario.
- 06Standards that applyRecord · Nexus StandardsThe platform names the standards that apply. A validator report is evidence for review.
04 Publish
- 07EditionsRecord · ReportsFindings are published through Reports with their limits.
- 08Authority decidesOutcome · The competent authorityDecisions and execution stay with the government, operator or licensed institution.
Fintech Nexus home · Platforms · Shared methodsAn outline of how the work is designed to run; it does not report the status of any decision or record.
Take part in Fintech Nexus.
Start from who you are. Answer an open call. Or form and lead a competence cell on the Fintech Nexus platform.
National institutions
Ministries, statistics offices and agencies: a national desk and chapter, and a seat in the working groups. National chapters
Sectors and professions
Operators, regulators, banks, insurers and professional bodies whose work touches Fintech Nexus. Participate
Learning
Courses and practice, with a record of every course completed. Free to study. Open learning
Standards
Draft, review and adopt the methods and data standards with the working groups. Working groups
Communities and research
Universities, civil society and individual experts: projects, data and review. Write to the team
| Open call | Seeks | Closes |
|---|---|---|
| Founding call for experts to the working groups CALL-FOUNDING-EXPERTS | expert, editor, chair | 2026-12-15 |
| Open nomination for the three independent expert seats of the Global Standards Council CALL-GSC-IND | council-member | 2026-12-01 |
| Nominations of interim regional members (applies only if the transitional provision is decided) CALL-GSC-REG | council-member | 2026-12-15 |
| Review of the wave-1 risk core outlines (C1, C2, C3, C4, C8, C10, C11) CALL-REVIEW-WAVE1 | contributor | 2027-01-31 |
| Experts for the core standards of risk science: uncertainty and evidence grading, scales, structured expert judgement, tolerability, extremes and compound events, catastrophic and existential risk, ethics and equity, units and measurement (NRS-C17 to NRS-C24) CALL-CORE-SCIENCE | expert, editor, chair | 2027-01-31 |
| Independent reviewers for the families of the hazard atlas, three from at least two regions for each family (NHS2-R19), priority families first CALL-ATLAS-REVIEW | expert | 2027-03-31 |
| Members of the interim Frontier Safety Review Panel and red-team reviewers (biosafety and biosecurity, AI safety and security, critical-infrastructure security); applications treated in confidence CALL-FRONTIER-SAFETY-REVIEW | expert | 2026-11-30 |
| Experts in ontology, metrology, software verification and conformity assessment for the requirement register, the NHS-2 machine representation, the conformance test suites and the conformity assessment scheme CALL-CONFORMANCE-ONTOLOGY | expert, editor | 2027-01-31 |
Calls past their closing date are hidden automatically. Every call, proposal and route: open areas and calls.
Gather the cell
Bring together three to seven people with complementary skills: data, field practice, policy and communication.
Register it
Write to the team with the cell’s name, members, area and region. You receive a reference and a contact. Write to the team
Choose a charter
Pick one focus: research and evidence, data and maps, standards review, or community preparedness.
Learn together
Follow shared study paths at Risk Academy, with practice and a record of every course completed. Hazards and resilience
Lead and report
Hold regular sessions. Publish what the cell learns through Reports. Bring findings to the working groups. Working groups
What a national team or a local community can do on The Global Risks Index (NXS-GRX) today.
Your country’s profile
Open risk profiles for 195 countries, with sources and licences on every value. Open the Index
Correct or reply
Correct a value or reply for your country. The change is logged with its effect. Open the Index
Offer data
Offer a dataset. It enters through the licence gate, with your credit. Open the Index
Every figure on this page is indexed: hazards, climate, conflict, the world.
The Index is the Consortium’s indexing system for risk data. Every indicator, hazard, series and country profile carries its Nexus Standards identifier, its source and its licence, so what this page shows can be traced, corrected and reused.
- 01 · Sources205 registered sourcesEvery value keeps its source and licence; withheld values are counted.Data and licences
- 02 · Nexus StandardsNIS-1 and NHS-1451 indicators, 905 hazards; every record carries a UNI.Nexus Standards
- 03 · The Index54 series, 195 country profilesComputed on the standards; no value is published until an edition is released.The Global Risks Index
- 04 · This pageFintech NexusMaps, figures and feeds read the Index in the context of hazards, climate, conflict.Public API
Series in this context hazards, climate, conflict
- GLBGlobal SystemsThe state of interdependent global risk: the twenty domain indices aggregated to the world, the five core systems (water, energy, food, health, biodiversity) and their couplings, the global tail register and the gap…NXS-GRX-AR-000002Hazards · Climate · Conflict
- THDisaster Risk Intelligence (DRI)Signals, observations, event streams, geospatial layers and scenario packs turned into structured risk intelligence for preparedness and planning.NXS-GRX-AR-000111Hazards · Climate · Conflict
- GSGlobal CitiesUrban exposure, heat, flooding, informal settlement, service dependency and the economic weight of cities at risk.NXS-GRX-AR-000068Hazards · Infrastructure · Climate
- GSGlobal ClimateChronic and acute physical climate hazard, transition exposure, adaptation gaps and scenario pathways to 2030, 2050 and 2100.NXS-GRX-AR-000065Climate · Hazards · Finance
Country profiles the world
Every country profile carries the source and licence of each value. Correct a value or reply
Hazard domains NHS-1
- Atmosphere and weatherNXS-GRX-AR-000135
- Solid EarthNXS-GRX-AR-000138
- Systemic and compound eventsNXS-GRX-AR-000148
Geodata and API open
Open layers on an equal-area hexagon grid, shown as densities per km² or as symbols: People · GHSL 2025People · WorldPop 2025Built-up areaPortsAirportsRoadsRailwaysRivers and lake centrelines
/api/v1/public/grix · https://nexustandards.com/uni/{uni}
Developers · Data · Made with Natural Earth, Public domain; GHSL and WorldPop, CC BY 4.0
Snapshot of the Index registries pinned 2026-10-23 · 22c6eed. Research and risk-analytics information: not a rating, an official classification, a warning, a benchmark or advice.
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