The Development of FinTech. Opportunities and Risks for the Financial Industry in the Digital Age - With Preface to the Series Dedicated to FinTech

122 Pages Posted: 27 Jun 2019

See all articles by D'Agostino Giuseppe

D'Agostino Giuseppe

CONSOB (Commissione Nazionale per le Società e la Borsa)

Pasquale Munafò

CONSOB (Commissione Nazionale per le Società e la Borsa)

Cristiana Schena

University of Insubria

Alessandra Tanda

University of Milan; Department of Economics

Carlo Arlotta

University of Insubria

Gianluca Potenza

Consilia B.M.

Date Written: March 15, 2018

Abstract

FinTech is a new part of the financial industry that is radically innovating the way financial services are built and offered. In this paper, we analyse FinTech characteristics, their activities and related risks, highlighting analogies and differences in the activities performed by the financial intermediaries and the financial markets that are subject to specific regulation. In general, the study underlines the opportunity to pursue an effective balance between the urge to stimulate innovation and competition in the financial markets to bring benefits to the customers, on the one hand, and the need to ensure market stability both at micro and macro-level, transparency and fairness towards customers, as well as the prevention of unlawful activities, on the other hand.
Additionally, the paper provides an overview of the main strategies that incumbents are following in the new market conditions.

Keywords: FinTech, digitalisation, innovation, financial industry, incumbents, business model, marketplace, financial services, lending, crowdfunding, payment services, risks, fairness and transparency towards customers, financial stability

JEL Classification: G29, G28

Suggested Citation

Giuseppe, D'Agostino and Munafò, Pasquale and Schena, Cristiana and Tanda, Alessandra and Arlotta, Carlo and Potenza, Gianluca, The Development of FinTech. Opportunities and Risks for the Financial Industry in the Digital Age - With Preface to the Series Dedicated to FinTech (March 15, 2018). CONSOB FinTech papers no. 1 (2019); ISBN 9788894369755 , Available at SSRN: https://ssrn.com/abstract=3409780 or http://dx.doi.org/10.2139/ssrn.3409780

D'Agostino Giuseppe (Contact Author)

CONSOB (Commissione Nazionale per le Società e la Borsa) ( email )

Roma 00198
Italy

Pasquale Munafò

CONSOB (Commissione Nazionale per le Società e la Borsa) ( email )

Roma 00198
Italy

Cristiana Schena

University of Insubria ( email )

Via Ravasi 2
Varese, 21100 21100
Italy

Alessandra Tanda

University of Milan ( email )

Via Festa del Perdono, 7
Milan, 20122
Italy

Department of Economics ( email )

Via Vivaldi 5
Genova, 16126
Italy

Carlo Arlotta

University of Insubria ( email )

Via Ravasi 2
Varese, 21100 21100
Italy

Gianluca Potenza

Consilia B.M. ( email )

Do you have a job opening that you would like to promote on SSRN?

Paper statistics

Downloads
127
Abstract Views
526
rank
263,302
PlumX Metrics