FinTech Trends in the United States: Implications for Household Finance

Ross Hikida and Jason Perry
Additional contact information
Ross Hikida: Managing Member at ThirdStream Partners LLC
Jason Perry: Head of Data Science at TableCheck, Inc

Public Policy Review, 2020, vol. 16, issue 4, 1-32

Abstract: The modern financial technology (“FinTech”) revolution has two features that distinguish it from previous eras of innovation: (1) Consumers have greater access to financial information and applications using smartphones on high-speed networks; and (2) businesses benefit from dramatically lower costs, improved performance, and enhanced options in data storage, computation, and application development. The once monolithic and proprietary financial services industry is being challenged under the zeitgeist of decentralization, disintermediation, and open protocols. Consequently, households in the United States are witnessing the emergence of new options for investment, credit, insurance, and payments. We illustrate how several influential FinTech trends may help address biases and constraints that hamper households in smoothing intertemporal consumption.

Keywords: FinTech; insurance; payments; credit; blockchain; AI; disintermediation (search for similar items in EconPapers)
Date: 2020
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Citations: View citations in EconPapers (2)

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