What is Really New in Fintech

Open Access
Authors
Publication date 17-12-2020
Publisher IMFBlog
Organisations
  • Interfacultary Research - Amsterdam Center for Law & Economics (ACLE)
  • Faculty of Economics and Business (FEB) - Amsterdam Business School Research Institute (ABS-RI)
  • Faculty of Economics and Business (FEB)
Abstract
The financial industry is undergoing rapid technological change. Traditional banks face competition from online start-ups with no physical branches. Social media and other digital platforms are expanding into payments and credit. The increase in demand for digital services triggered by COVID-19 is turbo-charging this transformation. The confluence we are witnessing is driving fintech innovation and raises important questions. What are the transformative aspects of recent financial innovation that can uproot finance as we know it? Which new policy challenges will the transformation of finance bring?
Document type Web publication or website
Language English
Published at https://blogs.imf.org/2020/12/17/what-is-really-new-in-fintech/
Downloads
What is Really New in Fintech – IMF Blog (Final published version)
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