A Survey of Fintech Research and Policy Discussion

56 Pages Posted: 9 Jun 2020

See all articles by Franklin Allen

Franklin Allen

Imperial College London

Xian Gu

Central University of Finance and Economics (CUFE); University of Pennsylvania

Julapa Jagtiani

Federal Reserve Banks - Federal Reserve Bank of Philadelphia

Date Written: May, 2020

Abstract

The intersection of finance and technology, known as fintech, has resulted in the dramatic growth of innovations and has changed the entire financial landscape. While fintech has a critical role to play in democratizing credit access to the unbanked and thin-file consumers around the globe, those consumers who are currently well served also turn to fintech for faster services and greater transparency. Fintech, particularly the blockchain, has the potential to be disruptive to financial systems and intermediation. Our aim in this paper is to provide a comprehensive fintech literature survey with relevant research studies and policy discussion around the various aspects of fintech. The topics include marketplace and peer-to-peer lending, credit scoring, alternative data, distributed ledger technologies, blockchain, smart contracts, cryptocurrencies and initial coin offerings, central bank digital currency, robo-advising, quantitative investment and trading strategies, cybersecurity, identity theft, cloud computing, use of big data and artificial intelligence and machine learning, identity and fraud detection, anti-money laundering, Know Your Customers, natural language processing, regtech, insuretech, sandboxes, and fintech regulations.

Keywords: fintech, marketplace lending, P2P, alternative data, DLT, blockchain, robo advisor, regtech, insuretech, cryptocurrencies, ICOs, CBDC, cloud computing, AML, KYC, NLP, fintech regulations

JEL Classification: G21, G28, G18, L21

Suggested Citation

Allen, Franklin and Gu, Xian and Jagtiani, Julapa A., A Survey of Fintech Research and Policy Discussion (May, 2020). FRB of Philadelphia Working Paper No. 20-21. Available at SSRN: https://ssrn.com/abstract=3622468 or http://dx.doi.org/10.21799/frbp.wp.2020.21

Franklin Allen (Contact Author)

Imperial College London ( email )

South Kensington Campus
Exhibition Road
London, Greater London SW7 2AZ
United Kingdom

Xian Gu

Central University of Finance and Economics (CUFE) ( email )

39 South College Road
Haidian District
Beijing, Beijing 100081
China

University of Pennsylvania ( email )

3730 Walnut Street
Philadelphia, PA 19104
United States
19104 (Fax)

Julapa A. Jagtiani

Federal Reserve Banks - Federal Reserve Bank of Philadelphia ( email )

Ten Independence Mall
Philadelphia, PA 19106-1574
United States

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