The DOI matches its Crossref record; 11 of the 11 references it cites were found in a registry or an index.
BigTech and the changing structure of financial intermediation
Open accessAbstract
SUMMARY: Pablo Zbinden?>We consider the drivers and implications of the growth of ‘BigTech’ in finance – i.e. the financial services offerings of technology companies with established presence in the market for digital services. BigTech firms often start with payments. Thereafter, some expand into the provision of credit, insurance and money management products, either directly or in cooperation with financial institution partners. Focusing on credit, we show that BigTech firms lend more in countries with less competitive banking sectors and less stringent bank regulation. Analysing the case of Argentina, we find support for the hypothesis that BigTech lenders, by acquiring a vast amount of non-traditional information, have an advantage in credit assessment relative to a traditional credit bureau. They also serve unbanked borrowers, and may have an advantage in contract enforcement. It is too early to judge the extent of BigTech’s eventual advance into the provision of financial services. However, the early evidence allows us to pose pertinent questions that bear on their impact on financial stability and overall economic welfare.
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Cites
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Rysman, M. (2009) · Journal of Economic Perspectives · doi:10.1257/jep.23.3.125 · Cited by 1,261 · cited 1×
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Systemic Banking Crises Database
Laeven, L. A., & Valencia, F. V. (2013) · IMF Economic Review · doi:10.1057/imfer.2013.12 · Cited by 1,150
Systemic Banking Crises Database II
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Cited by
The impact of the FinTech revolution on the future of banking: Opportunities and risks
Murinde, V., Rizopoulos, E., & Zachariadis, M. (2022) · International Review of Financial Analysis · doi:10.1016/j.irfa.2022.102103 · Cited by 685
Fintech in the time of COVID−19: Technological adoption during crises
Fu, J., & Mishra, M. (2022) · Journal of Financial Intermediation · doi:10.1016/j.jfi.2021.100945 · Cited by 273
Lundvall, B.-Å., & Rikap, C. (2022) · Research Policy · doi:10.1016/j.respol.2021.104395 · Cited by 222
Understanding China’s fintech sector: development, impacts and risks
Hua, X., & Huang, Y. (2021) · The European Journal of Finance · doi:10.1080/1351847x.2020.1811131 · Cited by 189
Self-citationArtificial Intelligence risk measurement
Giudici, P., Centurelli, M., & Turchetta, S. (2024) · Expert Systems with Applications · doi:10.1016/j.eswa.2023.121220 · Cited by 181
Metadata
- Authors
- Frost, J., Gambacorta, L., Huang, Y., Shin, H. S., & Zbinden, P.
- Venue
- Economic Policy
- Publisher
- Oxford University Press (OUP)
- Published
- 2019-10-01
- Volume
- 34
- Issue
- 100
- Pages
- 761-799
- ISSN
- 0266-4658 (ISSN-L)
- 1468-0327
- OpenAlex
- W2929399345
- Cited by
- 584
- References
- 11
- FWCI
- 59.46
- Type
- journal article
- Language
- en
- Open access
- green
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