Fintech and the Digital Transformation of Financial Services Fintech and the Future of Finance Flagship Technical Note: Implications for Market Structure and Public Policy
This note examines the implications of digital innovation for market structure and attendant policies, including financial and competition regulation. There have been several surveys of regulatory responses. This note takes a step back, to look at what the economic theory of banking and financial in...
Gespeichert in:
| Körperschaft: | |
|---|---|
| Format: | Elektronisch E-Book |
| Sprache: | English |
| Veröffentlicht: |
Washington, D.C
The World Bank
2022
|
| Schriftenreihe: | Other Financial Sector Study
|
| Schlagworte: | |
| Online-Zugang: | Volltext |
| Zusammenfassung: | This note examines the implications of digital innovation for market structure and attendant policies, including financial and competition regulation. There have been several surveys of regulatory responses. This note takes a step back, to look at what the economic theory of banking and financial intermediation can tell us about how technology may drive industrial organization in the sector, and how that might inform further policy responses. The paper roots the impact of the digital transformation of finance in innovations that have enabled providers to address long-standing challenges of financial intermediation, including asymmetric information, uncertainty, incomplete markets, and fixed and variable costs of production. The paper describes how digital innovation affects these key economic frictions in finance and alters the financial services value chain and industrial organization. The forces driving these changes, and potential outcomes in terms of industry structure, lead to insights for policy makers on how to harness the benefits of fintech, while mitigating some of the risks, particularly around competition and market structure. The focus is on economic and technological forces that apply broadly across financial services. It recognizes that the sector encompasses a wide range of different products and services and is composed of numerous sub-markets that might use different technologies or have different economic structures. These may thus diverge in market structure and competition outcomes |
| Beschreibung: | 1 Online-Ressource |
| DOI: | 10.1596/37340 |
Internformat
MARC
| LEADER | 00000nmm a22000001c 4500 | ||
|---|---|---|---|
| 001 | BV049080446 | ||
| 003 | DE-604 | ||
| 007 | cr|uuu---uuuuu | ||
| 008 | 230731s2022 xxu|||| o||u| ||||||eng d | ||
| 024 | 7 | |a 10.1596/37340 |2 doi | |
| 035 | |a (ZDB-1-WBA)077917529 | ||
| 035 | |a (OCoLC)1392152191 | ||
| 035 | |a (DE-599)KEP077917529 | ||
| 040 | |a DE-604 |b ger |e rda | ||
| 041 | 0 | |a eng | |
| 044 | |a xxu |c XD-US | ||
| 049 | |a DE-12 |a DE-521 |a DE-573 |a DE-523 |a DE-Re13 |a DE-19 |a DE-355 |a DE-703 |a DE-91 |a DE-706 |a DE-29 |a DE-M347 |a DE-473 |a DE-824 |a DE-20 |a DE-739 |a DE-1043 |a DE-863 |a DE-862 | ||
| 110 | 2 | |a World Bank Group |e Verfasser |4 aut | |
| 245 | 1 | 0 | |a Fintech and the Digital Transformation of Financial Services Fintech and the Future of Finance Flagship Technical Note |b Implications for Market Structure and Public Policy |
| 264 | 1 | |a Washington, D.C |b The World Bank |c 2022 | |
| 300 | |a 1 Online-Ressource | ||
| 336 | |b txt |2 rdacontent | ||
| 337 | |b c |2 rdamedia | ||
| 338 | |b cr |2 rdacarrier | ||
| 490 | 0 | |a Other Financial Sector Study | |
| 520 | 3 | |a This note examines the implications of digital innovation for market structure and attendant policies, including financial and competition regulation. There have been several surveys of regulatory responses. This note takes a step back, to look at what the economic theory of banking and financial intermediation can tell us about how technology may drive industrial organization in the sector, and how that might inform further policy responses. The paper roots the impact of the digital transformation of finance in innovations that have enabled providers to address long-standing challenges of financial intermediation, including asymmetric information, uncertainty, incomplete markets, and fixed and variable costs of production. The paper describes how digital innovation affects these key economic frictions in finance and alters the financial services value chain and industrial organization. The forces driving these changes, and potential outcomes in terms of industry structure, lead to insights for policy makers on how to harness the benefits of fintech, while mitigating some of the risks, particularly around competition and market structure. The focus is on economic and technological forces that apply broadly across financial services. It recognizes that the sector encompasses a wide range of different products and services and is composed of numerous sub-markets that might use different technologies or have different economic structures. These may thus diverge in market structure and competition outcomes | |
| 650 | 4 | |a Finance and Financial Sector Development | |
| 650 | 4 | |a Financial Intermediation | |
| 650 | 4 | |a Financial Regulation and Supervision | |
| 650 | 4 | |a Financial Services | |
| 650 | 4 | |a Governance | |
| 650 | 4 | |a Insurance and Risk Mitigation | |
| 856 | 4 | 0 | |u https://doi.org/10.1596/37340 |x Verlag |z kostenfrei |3 Volltext |
| 912 | |a ZDB-1-WBA | ||
| 943 | 1 | |a oai:aleph.bib-bvb.de:BVB01-034342337 | |
Datensatz im Suchindex
| _version_ | 1812671843026337792 |
|---|---|
| adam_text | |
| adam_txt | |
| any_adam_object | |
| any_adam_object_boolean | |
| author_corporate | World Bank Group |
| author_corporate_role | aut |
| author_facet | World Bank Group |
| author_sort | World Bank Group |
| building | Verbundindex |
| bvnumber | BV049080446 |
| collection | ZDB-1-WBA |
| ctrlnum | (ZDB-1-WBA)077917529 (OCoLC)1392152191 (DE-599)KEP077917529 |
| discipline | Wirtschaftswissenschaften |
| discipline_str_mv | Wirtschaftswissenschaften |
| doi_str_mv | 10.1596/37340 |
| format | Electronic eBook |
| fullrecord | <?xml version="1.0" encoding="UTF-8"?><collection xmlns="http://www.loc.gov/MARC21/slim"><record><leader>00000nmm a22000001c 4500</leader><controlfield tag="001">BV049080446</controlfield><controlfield tag="003">DE-604</controlfield><controlfield tag="007">cr|uuu---uuuuu</controlfield><controlfield tag="008">230731s2022 xxu|||| o||u| ||||||eng d</controlfield><datafield tag="024" ind1="7" ind2=" "><subfield code="a">10.1596/37340</subfield><subfield code="2">doi</subfield></datafield><datafield tag="035" ind1=" " ind2=" "><subfield code="a">(ZDB-1-WBA)077917529</subfield></datafield><datafield tag="035" ind1=" " ind2=" "><subfield code="a">(OCoLC)1392152191</subfield></datafield><datafield tag="035" ind1=" " ind2=" "><subfield code="a">(DE-599)KEP077917529</subfield></datafield><datafield tag="040" ind1=" " ind2=" "><subfield code="a">DE-604</subfield><subfield code="b">ger</subfield><subfield code="e">rda</subfield></datafield><datafield tag="041" ind1="0" ind2=" "><subfield code="a">eng</subfield></datafield><datafield tag="044" ind1=" " ind2=" "><subfield code="a">xxu</subfield><subfield code="c">XD-US</subfield></datafield><datafield tag="049" ind1=" " ind2=" "><subfield code="a">DE-12</subfield><subfield code="a">DE-521</subfield><subfield code="a">DE-573</subfield><subfield code="a">DE-523</subfield><subfield code="a">DE-Re13</subfield><subfield code="a">DE-19</subfield><subfield code="a">DE-355</subfield><subfield code="a">DE-703</subfield><subfield code="a">DE-91</subfield><subfield code="a">DE-706</subfield><subfield code="a">DE-29</subfield><subfield code="a">DE-M347</subfield><subfield code="a">DE-473</subfield><subfield code="a">DE-824</subfield><subfield code="a">DE-20</subfield><subfield code="a">DE-739</subfield><subfield code="a">DE-1043</subfield><subfield code="a">DE-863</subfield><subfield code="a">DE-862</subfield></datafield><datafield tag="110" ind1="2" ind2=" "><subfield code="a">World Bank Group</subfield><subfield code="e">Verfasser</subfield><subfield code="4">aut</subfield></datafield><datafield tag="245" ind1="1" ind2="0"><subfield code="a">Fintech and the Digital Transformation of Financial Services Fintech and the Future of Finance Flagship Technical Note</subfield><subfield code="b">Implications for Market Structure and Public Policy</subfield></datafield><datafield tag="264" ind1=" " ind2="1"><subfield code="a">Washington, D.C</subfield><subfield code="b">The World Bank</subfield><subfield code="c">2022</subfield></datafield><datafield tag="300" ind1=" " ind2=" "><subfield code="a">1 Online-Ressource</subfield></datafield><datafield tag="336" ind1=" " ind2=" "><subfield code="b">txt</subfield><subfield code="2">rdacontent</subfield></datafield><datafield tag="337" ind1=" " ind2=" "><subfield code="b">c</subfield><subfield code="2">rdamedia</subfield></datafield><datafield tag="338" ind1=" " ind2=" "><subfield code="b">cr</subfield><subfield code="2">rdacarrier</subfield></datafield><datafield tag="490" ind1="0" ind2=" "><subfield code="a">Other Financial Sector Study</subfield></datafield><datafield tag="520" ind1="3" ind2=" "><subfield code="a">This note examines the implications of digital innovation for market structure and attendant policies, including financial and competition regulation. There have been several surveys of regulatory responses. This note takes a step back, to look at what the economic theory of banking and financial intermediation can tell us about how technology may drive industrial organization in the sector, and how that might inform further policy responses. The paper roots the impact of the digital transformation of finance in innovations that have enabled providers to address long-standing challenges of financial intermediation, including asymmetric information, uncertainty, incomplete markets, and fixed and variable costs of production. The paper describes how digital innovation affects these key economic frictions in finance and alters the financial services value chain and industrial organization. The forces driving these changes, and potential outcomes in terms of industry structure, lead to insights for policy makers on how to harness the benefits of fintech, while mitigating some of the risks, particularly around competition and market structure. The focus is on economic and technological forces that apply broadly across financial services. It recognizes that the sector encompasses a wide range of different products and services and is composed of numerous sub-markets that might use different technologies or have different economic structures. These may thus diverge in market structure and competition outcomes</subfield></datafield><datafield tag="650" ind1=" " ind2="4"><subfield code="a">Finance and Financial Sector Development</subfield></datafield><datafield tag="650" ind1=" " ind2="4"><subfield code="a">Financial Intermediation</subfield></datafield><datafield tag="650" ind1=" " ind2="4"><subfield code="a">Financial Regulation and Supervision</subfield></datafield><datafield tag="650" ind1=" " ind2="4"><subfield code="a">Financial Services</subfield></datafield><datafield tag="650" ind1=" " ind2="4"><subfield code="a">Governance</subfield></datafield><datafield tag="650" ind1=" " ind2="4"><subfield code="a">Insurance and Risk Mitigation</subfield></datafield><datafield tag="856" ind1="4" ind2="0"><subfield code="u">https://doi.org/10.1596/37340</subfield><subfield code="x">Verlag</subfield><subfield code="z">kostenfrei</subfield><subfield code="3">Volltext</subfield></datafield><datafield tag="912" ind1=" " ind2=" "><subfield code="a">ZDB-1-WBA</subfield></datafield><datafield tag="943" ind1="1" ind2=" "><subfield code="a">oai:aleph.bib-bvb.de:BVB01-034342337</subfield></datafield></record></collection> |
| id | DE-604.BV049080446 |
| illustrated | Not Illustrated |
| index_date | 2024-07-03T22:27:57Z |
| indexdate | 2024-10-12T04:03:00Z |
| institution | BVB |
| language | English |
| oai_aleph_id | oai:aleph.bib-bvb.de:BVB01-034342337 |
| oclc_num | 1392152191 |
| open_access_boolean | 1 |
| owner | DE-12 DE-521 DE-573 DE-523 DE-Re13 DE-BY-UBR DE-19 DE-BY-UBM DE-355 DE-BY-UBR DE-703 DE-91 DE-BY-TUM DE-706 DE-29 DE-M347 DE-473 DE-BY-UBG DE-824 DE-20 DE-739 DE-1043 DE-863 DE-BY-FWS DE-862 DE-BY-FWS |
| owner_facet | DE-12 DE-521 DE-573 DE-523 DE-Re13 DE-BY-UBR DE-19 DE-BY-UBM DE-355 DE-BY-UBR DE-703 DE-91 DE-BY-TUM DE-706 DE-29 DE-M347 DE-473 DE-BY-UBG DE-824 DE-20 DE-739 DE-1043 DE-863 DE-BY-FWS DE-862 DE-BY-FWS |
| physical | 1 Online-Ressource |
| psigel | ZDB-1-WBA |
| publishDate | 2022 |
| publishDateSearch | 2022 |
| publishDateSort | 2022 |
| publisher | The World Bank |
| record_format | marc |
| series2 | Other Financial Sector Study |
| spellingShingle | Fintech and the Digital Transformation of Financial Services Fintech and the Future of Finance Flagship Technical Note Implications for Market Structure and Public Policy Finance and Financial Sector Development Financial Intermediation Financial Regulation and Supervision Financial Services Governance Insurance and Risk Mitigation |
| title | Fintech and the Digital Transformation of Financial Services Fintech and the Future of Finance Flagship Technical Note Implications for Market Structure and Public Policy |
| title_auth | Fintech and the Digital Transformation of Financial Services Fintech and the Future of Finance Flagship Technical Note Implications for Market Structure and Public Policy |
| title_exact_search | Fintech and the Digital Transformation of Financial Services Fintech and the Future of Finance Flagship Technical Note Implications for Market Structure and Public Policy |
| title_exact_search_txtP | Fintech and the Digital Transformation of Financial Services Fintech and the Future of Finance Flagship Technical Note Implications for Market Structure and Public Policy |
| title_full | Fintech and the Digital Transformation of Financial Services Fintech and the Future of Finance Flagship Technical Note Implications for Market Structure and Public Policy |
| title_fullStr | Fintech and the Digital Transformation of Financial Services Fintech and the Future of Finance Flagship Technical Note Implications for Market Structure and Public Policy |
| title_full_unstemmed | Fintech and the Digital Transformation of Financial Services Fintech and the Future of Finance Flagship Technical Note Implications for Market Structure and Public Policy |
| title_short | Fintech and the Digital Transformation of Financial Services Fintech and the Future of Finance Flagship Technical Note |
| title_sort | fintech and the digital transformation of financial services fintech and the future of finance flagship technical note implications for market structure and public policy |
| title_sub | Implications for Market Structure and Public Policy |
| topic | Finance and Financial Sector Development Financial Intermediation Financial Regulation and Supervision Financial Services Governance Insurance and Risk Mitigation |
| topic_facet | Finance and Financial Sector Development Financial Intermediation Financial Regulation and Supervision Financial Services Governance Insurance and Risk Mitigation |
| url | https://doi.org/10.1596/37340 |
| work_keys_str_mv | AT worldbankgroup fintechandthedigitaltransformationoffinancialservicesfintechandthefutureoffinanceflagshiptechnicalnoteimplicationsformarketstructureandpublicpolicy |