Chartering the FinTech Future
35 Pages Posted: 3 Dec 2020
Date Written: December 2, 2020
Banks are intermediaries that either lend, execute payments, or do both. The specific means through which these functions are achieved varies over time. Unbundled FinTech shadow banks are often more profitable and efficient than traditional banks, and they are also pioneering new approaches to financial inclusion. Allowing, but not requiring, FinTech shadow banks to become chartered banks will permit those for which this is value-creating to thrive, which will bolster the efficiency and inclusiveness of the banking system.
Keywords: FinTech, Shadow Banks, Chartered Banks, National Banks, Financial Inclusion, Crypto Currency
JEL Classification: G21, E42, G18
Suggested Citation: Suggested Citation