The impact of the FinTech revolution on the future of banking: Opportunities and risks

Victor Murinde, Efthymios Rizopoulos and Markos Zachariadis

International Review of Financial Analysis, 2022, vol. 81, issue C

Abstract: The financial technologies (FinTech) revolution is in full swing globally. In this paper, we review the burgeoning literature on FinTech and FinTech-enabled services, focusing on the opportunities and risks for banks. Using high quality bank level data from 115 countries around the world for the past 16 years, we compute statistical moments of some key indicators of the changing banking landscape in the FinTech era. Our preliminary findings suggest that it is unlikely that FinTech lenders will replace banks, perhaps because banks are developing their own FinTech platforms or working with FinTech start-ups. We also showcase how regulation, global infrastructures and geopolitical frictions will shape the future of banking. We identify some promising research ideas; we also summarize some key implications, from existing research, for policy makers and practitioners.

Keywords: FinTech revolution; FinTech-enabled services; Banking; Financial regulation; COVID-19 (search for similar items in EconPapers)
JEL-codes: G0 G2 O1 O3 (search for similar items in EconPapers)
Date: 2022
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (79)

Downloads: (external link)
http://www.sciencedirect.com/science/article/pii/S1057521922000734
Full text for ScienceDirect subscribers only

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:eee:finana:v:81:y:2022:i:c:s1057521922000734

DOI: 10.1016/j.irfa.2022.102103

Access Statistics for this article

International Review of Financial Analysis is currently edited by B.M. Lucey

More articles in International Review of Financial Analysis from Elsevier
Bibliographic data for series maintained by Catherine Liu ().