articleInternational Review of Financial AnalysisMar 9, 2022HYBRID OA

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

VMVictor MurindeEREfthymios RizopoulosMZMarkos Zachariadis

University of London · SOAS University of London · +1 more institution

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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…

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Topics & keywords

Topics
Keywords
  • Business
  • Financial services
  • Key (lock)
  • FinTech
  • International banking
  • Financial crisis
  • Quality (philosophy)
  • Financial regulation
UN Sustainable Development Goals
  • Industry, innovation and infrastructure
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