Chartering the FinTech Future

35 Pages Posted: 3 Dec 2020

See all articles by Charles W. Calomiris

Charles W. Calomiris

Columbia University - Columbia Business School; National Bureau of Economic Research (NBER)

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

Calomiris, Charles W., Chartering the FinTech Future (December 2, 2020). Available at SSRN: or

Charles W. Calomiris (Contact Author)

Columbia University - Columbia Business School ( email )

3022 Broadway
601 Uris, Dept. of Finance & Economics
New York, NY 10027
United States
212-854-8748 (Phone)
212-316-9219 (Fax)

National Bureau of Economic Research (NBER)

1050 Massachusetts Avenue
Cambridge, MA 02138
United States

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

Paper statistics

Abstract Views
PlumX Metrics