Fintech Bigtech And The Future Of Banks
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| Author | : Alessandra Tanda |
| Publisher | : Palgrave Pivot |
| Total Pages | : 0 |
| Release | : 2019-08-16 |
| Genre | : Business & Economics |
| ISBN | : 9783030224257 |
This Palgrave Pivot analyses the evolution of strategies and business models adopted by financial operators that employ technological solutions to deliver financial products and services. The analysis is performed on a proprietary dataset built on different sources that highlight important differences in strategical approaches taken by FinTech companies, TechFin and BigTech, and banks (traditional and digital native). For each type, the authors underline their distinctive patterns, strengths and weaknesses. The main focus of the analysis in on the European market that is investigated also in the light of the difference and similarities with other markets (such as US and China). The unbundling and re-bundling of productive processes in finance, the treatment of information and the level of innovation in the customer relationship highlight the intense change that the banking activities of new financial services providers are currently dealing with, especially the retail segment. Despite the main international banks’ implementation of innovative strategical approaches to take advantage of the digitalization of business and cope with competition, so far the level of the disruption brought by FinTech is not fully understood or widespread. This holds especially true for the smaller banks: the latter need to take a proactive approach to individuate a business model able to satisfy the new customer needs and the competitive pressure that are destined to increase and further evolve. This book addresses this and would appeal to academics, researchers and students of banking, FinTech and financial innovation alongside policy makers, regulatory authorities, FinTechs and banks.
| Author | : Bernardo Nicoletti |
| Publisher | : Springer Nature |
| Total Pages | : 540 |
| Release | : 2021-07-06 |
| Genre | : Business & Economics |
| ISBN | : 3030758710 |
Bill Gates’ quote, “Banking is necessary, but banks are not,” showcases the opportunity for financial services digital transformation. The next transition from industry 4.0 to 5.0 will impact all sectors, including banking. It will combine information technology and automation, based on artificial intelligence, person-robot collaboration, and sustainability. It is time to analyze this transformation in banking deeply, so that the sector can adequately change to the ‘New Normal’ and a wholly modified banking model can be properly embedded in the business. This book presents a conceptual model of banking 5.0, detailing its implementation in processes, platforms, people, and partnerships of financial services organizations companies. The last part of the book is then dedicated to future developments. Of interest to academics, researchers, and professionals in banking, financial technology, and financial services, this book also includes business cases in financial services.
| Author | : MissEstelle X Liu |
| Publisher | : International Monetary Fund |
| Total Pages | : 42 |
| Release | : 2021-02-19 |
| Genre | : Business & Economics |
| ISBN | : 1513570056 |
The latest advancement in financial technology has posed unprecedented challenges for incumbent banks. This paper analyzes the implications of these challenges on bank competitveness, and explores the factors that could support digital advancement in banks. The analysis shows that the traditionally leading role of banks in advancing financial technology has diminished in recent years, and suggests that onoing efforts to catch up to the digital frontier could lead to a more concentrated banking industry, as smaller and less tech-savvy banks struggle to survive. Cross-country evidence has suggested that banks in high-income economies appear to have been the digital leaders, likely benefiting from a sound digital infrastructure, a strong legal and business environment, and healthy competition. Nonetheless, some digital leaders may fall behind in the coming years in adopting newer technologies due to entrenched consumer behavior favoring older technologies, less active fintech and bigtech companies, and weak bank balance sheets.
| Author | : Brett King |
| Publisher | : John Wiley & Sons |
| Total Pages | : 359 |
| Release | : 2018-12-17 |
| Genre | : Business & Economics |
| ISBN | : 1119506506 |
Winner of best book by a foreign author (2019) at the Business Book of the Year Award organised by PwC Russia The future of banking is already here — are you ready? Bank 4.0 explores the radical transformation already taking place in banking, and follows it to its logical conclusion. What will banking look like in 30 years? 50 years? The world’s best banks have been forced to adapt to changing consumer behaviors; regulators are rethinking friction, licensing and regulation; Fintech start-ups and tech giants are redefining how banking fits in the daily life of consumers. To survive, banks are having to develop new capabilities, new jobs and new skills. The future of banking is not just about new thinking around value stores, payment and credit utility — it's embedded in voice-based smart assistants like Alexa and Siri and soon smart glasses which will guide you on daily spending and money decisions. The coming Bank 4.0 era is one where either your bank is embedded in your world via tech, or it no longer exists. In this final volume in Brett King's BANK series, we explore the future of banks amidst the evolution of technology and discover a revolution already at work. From re-engineered banking systems, to selfie-pay and self-driving cars, Bank 4.0 proves that we're not on Wall Street anymore. Bank 4.0 will help you: Understand the historical precedents that flag a fundamental rethinking in banking Discover low-friction, technology experiences that undermine the products we sell today Think through the evolution of identity, value and assets as cash and cards become obsolete Learn how Fintech and tech "disruptors" are using behaviour, psychology and technology to reshape the economics of banking Examine the ways in which blockchain, A.I., augmented reality and other leading-edge tech are the real building blocks of the future of banking systems If you look at individual technologies or startups disrupting the space, you might miss the biggest signposts to the future and you might also miss that most of we've learned about banking the last 700 years just isn't useful. When the biggest bank in the world isn't any of the names you'd expect, when branch networks are a burden not an asset, and when advice is the domain of Artificial Intelligence, we may very well have to start from scratch. Bank 4.0 takes you to a world where banking will be instant, smart and ubiquitous, and where you'll have to adapt faster than ever before just to survive. Welcome to the future.
| Author | : Thorsten Beck |
| Publisher | : Cepr |
| Total Pages | : 91 |
| Release | : 2011 |
| Genre | : Business & Economics |
| ISBN | : 9781907142475 |
Banking is back in the headlines. From desperate efforts by governments to address the Eurozone crisis to the "Occupy Wall Street" movement that is currently spreading across the globe, banks are again at centre stage. This new VoxEU.org book presents a collection of essays by leading European and US economists that provide solutions to the financial crisis and proposals for medium- to long-term reforms to the regulatory framework in which financial institutions operate. Key proposals include: -- European Safe Bonds (ESBies): Critical of Eurobonds, the authors propose an alternative solution in the form of "European Safe Bonds" (ESBies) -- securities funded by currently outstanding government debt (up to 60\% of GDP) that would constitute a large pool of "safe" assets. The authors argue that ESBies would address both liquidity and solvency problems within the European banking system and, most critically, help to distinguish between the two. -- Capital and liquidity requirements -- risk weights are crucial: While ringfencing might be part of a sensible regulatory reform, it is not sufficient. Capital requirements with risk weights that are dynamic, counter-cyclical and take into account co-dependence of financial institutions are critical, and one size does not necessarily fit all. Similarly, liquidity requirements have to be adjusted to make them less rigid and pro-cyclical. While banks are currently under-taxed, the currently discussed financial transaction tax would not significantly affect banks' risk-taking behaviour and might actually increase market volatility; in addition, its revenue potential could also be overestimated. -- The need for a stronger European-wide regulatory framework: If the common European market in banking is to be saved -- and the authors argue that it should be -- then the geographic perimeter of banks has to be matched with a similar geographic perimeter in regulation, which ultimately requires stronger European-level institutions.
| Author | : Paolo Sironi |
| Publisher | : John Wiley & Sons |
| Total Pages | : 278 |
| Release | : 2021-11-22 |
| Genre | : Business & Economics |
| ISBN | : 1119756979 |
Discover the future of the financial services industry with this insightful new resource on Contextual and Conscious Banking In Banks and Fintech on Platform Economies: Contextual and Conscious Banking, accomplished fintech professional and author Paolo Sironi delivers an insightful examination of how platform theory, born outside of financial services, will make its way inside banking and financial markets to radically transform the way firms do business. You’ll learn why the financial services industry must master the necessary shift of focus from selling business outputs to selling client outcomes. You’ll also discover how to steer the industry towards new forms of digital transformation underpinned by Contextual Banking and Conscious Banking platform strategies that will benefit stakeholders of all kinds. This important book: Describes the shift in mindset necessary to help banks strengthen and extend the reach of their Banking-as-a-Service and Banking-as-a-Platform operations. Shows how a renewed interpretation of fundamental uncertainty inspires the usage of exponential technologies to achieve architectural resilience, and open the reference theory to spring new business models centered on clients’ and ecosystems’ antifragility. Financial services industry can break-out from a narrow space of value-generation to reclaim top spot against bigtech contenders, enjoying greater flexibility and adaptability at lower digital costs Perfect for CEOs, business leaders, regulators, fintech entrepreneurs, wealth managers, behavioral finance researchers and professionals working at financial technology companies, Banks and Fintech on Platform Economieswill also earn a place in the libraries of bankers seeking a firm grasp of the rapidly evolving outcome economy and a view about the future of the industry.
| Author | : Charles W. Calomiris |
| Publisher | : Princeton University Press |
| Total Pages | : 584 |
| Release | : 2015-08-04 |
| Genre | : Business & Economics |
| ISBN | : 0691168350 |
Why stable banking systems are so rare Why are banking systems unstable in so many countries—but not in others? The United States has had twelve systemic banking crises since 1840, while Canada has had none. The banking systems of Mexico and Brazil have not only been crisis prone but have provided miniscule amounts of credit to business enterprises and households. Analyzing the political and banking history of the United Kingdom, the United States, Canada, Mexico, and Brazil through several centuries, Fragile by Design demonstrates that chronic banking crises and scarce credit are not accidents. Calomiris and Haber combine political history and economics to examine how coalitions of politicians, bankers, and other interest groups form, why they endure, and how they generate policies that determine who gets to be a banker, who has access to credit, and who pays for bank bailouts and rescues. Fragile by Design is a revealing exploration of the ways that politics inevitably intrudes into bank regulation.
| Author | : Michael R. King |
| Publisher | : University of Toronto Press |
| Total Pages | : 443 |
| Release | : 2020-08-26 |
| Genre | : Business & Economics |
| ISBN | : 1487533144 |
The financial services industry is being transformed by heightened regulation, technological disruption, and changing demographics. These structural forces have lowered barriers to entry, increasing competition from within and outside the industry, in the form of entrepreneurial fintech start-ups to large, non-financial technology-based companies. The Technological Revolution in Financial Services is an invaluable resource for those eager to understand the evolving financial industry. This edited volume outlines the strategic implications for financial services firms in North America, Europe, and other advanced economies. The most successful banks, insurance companies, and asset managers will partner with financial technology companies to provide a better and more innovative experience services to retail customers and small businesses. Ultimately this technological revolution will benefit customers and lead to a more open and inclusive financial system.
| Author | : Boitan, Iustina Alina |
| Publisher | : IGI Global |
| Total Pages | : 313 |
| Release | : 2020-09-11 |
| Genre | : Business & Economics |
| ISBN | : 1799843912 |
Due to the emergence of innovative technologies, various professional fields are transforming their traditional business practices. Specifically, the financial and legal markets are experiencing this digital transformation as professionals and researchers are finding ways to improve efficiency, personalization, and security in these economic sectors. Significant research is needed to keep pace with the continuous advancements that are taking place in finance. Fostering Innovation and Competitiveness with FinTech, RegTech, and SupTech provides emerging research exploring the theoretical and practical aspects of technologically innovative mechanisms and applications within the financial, economic, and legal markets. Featuring coverage on a broad range of topics such as crowdfunding platforms, crypto-assets, and blockchain technology, this book is ideally designed for researchers, economists, practitioners, policymakers, analysts, managers, executives, educators, and students seeking current research on the strategic role of technology in the future development of financial and economic activity.
| Author | : Ms.Ratna Sahay |
| Publisher | : International Monetary Fund |
| Total Pages | : 83 |
| Release | : 2020-07-01 |
| Genre | : Business & Economics |
| ISBN | : 1513512242 |
Technology is changing the landscape of the financial sector, increasing access to financial services in profound ways. These changes have been in motion for several years, affecting nearly all countries in the world. During the COVID-19 pandemic, technology has created new opportunities for digital financial services to accelerate and enhance financial inclusion, amid social distancing and containment measures. At the same time, the risks emerging prior to COVID-19, as digital financial services developed, are becoming even more relevant.
