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Conclusion: Fintech—A Perfect Day or Walk on the Wild Side?

In: Disruptive Technology in Banking and Finance

Author

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  • Jonathan Williams

    (Bangor University)

Abstract

This chapter examines the light and dark sides of fintech through the lens of the supranational agencies responsible for monitoring the impact of developments in market structure on the stability of the global financial system. While fintech is fast growing and offers opportunities to enhance quality of financial services, improve customer satisfaction, increase financial inclusion, support economic growth and welfare gains, the potential exists for known and new risks to emerge and threaten financial stability, economic growth, and social welfare. This chapter discusses how fintech is challenging incumbent financial institutions and identifies benefits and risks associated with the democratisation of financial services. Assessing the effect of fintech on market structures is rendered difficult by a paucity of established data; therefore, the second part of this chapter syntheses relevant data from various sources with predictions from theoretical models alongside empirical and survey evidence to shed light on how markets are evolving and participants are behaving.

Suggested Citation

  • Jonathan Williams, 2021. "Conclusion: Fintech—A Perfect Day or Walk on the Wild Side?," Palgrave Studies in Financial Services Technology, in: Timothy King & Francesco Saverio Stentella Lopes & Abhishek Srivastav & Jonathan Williams (ed.), Disruptive Technology in Banking and Finance, edition 1, chapter 0, pages 283-313, Palgrave Macmillan.
    • Handle: RePEc:pal:psincp:978-3-030-81835-7_11
    DOI: 10.1007/978-3-030-81835-7_11
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    Cited by:

    1. Razzaq, Asif & Sharif, Arshian & Ozturk, Ilhan & Skare, Marinko, 2023. "Asymmetric influence of digital finance, and renewable energy technology innovation on green growth in China," Renewable Energy, Elsevier, vol. 202(C), pages 310-319.

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    Keywords

    Fintech; Banking; Regulation; Europe;
    All these keywords.

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