Fintech and Banking

40 Pages Posted: 27 Feb 2019 Last revised: 3 Mar 2019

See all articles by Anjan V. Thakor

Anjan V. Thakor

Washington University, Saint Louis - John M. Olin School of Business; European Corporate Governance Institute (ECGI)

Date Written: February 11, 2019


This paper is a review of fintech and its interaction with banking. Included in fintech are innovations in payment systems (including cryptocurrencies), credit markets (including P2P lending), and insurance, with blockchain-assisted smart contract playing a role. The paper provides a definition of fintech, examines some statistics and stylized facts, and then reviews the theoretical and empirical literature. The review is organized around four main research questions. That paper summarizes our knowledge on these questions and concludes with questions for future research.

Note: Since this is a review paper. I invite you to let me know if you have any work that is relevant to the topics covered here and should be cited, but I have not done so.

Keywords: Fintech, Cryptocurrencies, P2P Lending, Banking, Systemic Risk

JEL Classification: G21, G22, G23, G24

Suggested Citation

Thakor, Anjan V., Fintech and Banking (February 11, 2019). Available at SSRN: or

Anjan V. Thakor (Contact Author)

Washington University, Saint Louis - John M. Olin School of Business ( email )

One Brookings Drive
Campus Box 1133
St. Louis, MO 63130-4899
United States

European Corporate Governance Institute (ECGI) ( email )

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1000 Brussels

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