New Delhi, Aug. 5 -- The International Monetary Fund (IMF) has warned that the growing role of large technology companies in financial services could pose risks to financial stability, particularly in emerging market and developing economies, and called on regulators to strengthen oversight as these firms expand into payments, lending, insurance, asset management and financial SuperApps.

In its latest technical note, the IMF said the financial stability risks from BigTech firms remain limited in most countries for now, but could become significant if their rapid expansion continues.

The report defines BigTech as large technology companies that use platform-based business models and data-driven network effects to drive business growth. ...