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How disruptive are FinTech and digital for banks and regulators?

Author

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  • Nuyens, Hedwige

Abstract

This paper investigates how disruptive FinTech and digital are for banks and regulators. Banks have always made use of new technologies to deliver banking products in more effective ways. This process continues today. Technological change not only results in more risk such as cyberattacks and money laundering, but also opens up new opportunities for banks and their customers. Banks have adapted their business models accordingly. They partner with FinTech to develop and deliver new technologies. Regulators and supervisors change as well, moving gradually in the FinTech space, helping them to develop their activities and starting to regulate their services. So even though FinTech and digital can be disruptive indeed — both for banks and regulators — they also create a new cross border ecosystem whereby banks and tech companies interact and compete, while regulators and supervisors adapt their oversight, leading to better financial services for customers and higher added value for society, provided that a level playing field is ensured.

Suggested Citation

  • Nuyens, Hedwige, 2019. "How disruptive are FinTech and digital for banks and regulators?," Journal of Risk Management in Financial Institutions, Henry Stewart Publications, vol. 12(3), pages 217-222, June.
    • Handle: RePEc:aza:rmfi00:y:2019:v:12:i:3:p:217-222
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    Citations

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    Cited by:

    1. Austin, Rebekah E. & Dunham, Lee M., 2022. "Do FinTech acquisitions improve the operating performance or risk profiles of acquiring firms?," Journal of Economics and Business, Elsevier, vol. 121(C).
    2. Campanella, Francesco & Serino, Luana & Battisti, Enrico & Giakoumelou, Anastasia & Karasamani, Isabella, 2023. "FinTech in the financial system: Towards a capital-intensive and high competence human capital reality?," Journal of Business Research, Elsevier, vol. 155(PA).

    More about this item

    Keywords

    FinTech; digital; technology; innovation; regulation; supervision; ecosystem; customer experience; cyber resilience;
    All these keywords.

    JEL classification:

    • G2 - Financial Economics - - Financial Institutions and Services
    • E5 - Macroeconomics and Monetary Economics - - Monetary Policy, Central Banking, and the Supply of Money and Credit

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