The FinTech Opportunity

Thomas Philippon ()

No 655, BIS Working Papers from Bank for International Settlements

Abstract: This paper assesses the potential impact of FinTech on the finance industry. I document first that financial services remain surprisingly expensive, which explains the emergence of new entrants. I then argue that the current regulatory approach is subject to significant political economy and coordination costs, and therefore unlikely to deliver much structural change. FinTech can improve both financial stability and access to services, but this requires significant changes in the focus of regulations.

Keywords: FinTech; financial innovation; regulation; rents (search for similar items in EconPapers)
JEL-codes: E2 G2 N2 (search for similar items in EconPapers)
Pages: 33 pages
Date: 2017-07
New Economics Papers: this item is included in nep-mac and nep-pay
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (13)

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Related works:
Working Paper: The FinTech Opportunity (2016)
Working Paper: The FinTech Opportunity (2016)
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Persistent link: https://EconPapers.repec.org/RePEc:bis:biswps:655

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