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The Fintech Opportunity

25 Pages Posted: 8 Aug 2016 Last revised: 26 Aug 2016

Thomas Philippon

New York University (NYU) - Department of Finance; National Bureau of Economic Research (NBER)

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Date Written: August 2016

Abstract

This paper assesses the potential impact of FinTech on the finance industry, focusing on financial stability and access to services. I document first that financial services remain surprisingly expensive, which explains the emergence of new entrants. I then argue that the current regulatory approach is subject to significant political economy and coordination costs, and therefore unlikely to deliver much structural change. FinTech, on the other hand, can bring deep changes but is likely to create significant regulatory challenges.

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Suggested Citation

Philippon, Thomas, The Fintech Opportunity (August 2016). NBER Working Paper No. w22476. Available at SSRN: https://ssrn.com/abstract=2819862

Thomas Philippon (Contact Author)

New York University (NYU) - Department of Finance ( email )

Stern School of Business
44 West 4th Street
New York, NY 10012-1126
United States

National Bureau of Economic Research (NBER)

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Cambridge, MA 02138
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