The Impact of Fintechs on Financial Intermediation: A Functional Approach
Electronic version of an article published as [The Journal of FinTech, Volume 1, Number 1, 2021, 52 pages] [https://doi.org/10.1142/S270510992031001X] © [copyright World Scientific Publishing Company]
Posted: 8 Jul 2021
Date Written: February 2, 2021
We analyze fintechs and their impact on the traditional financial system from a functional perspective. Following the approach suggested by Merton (1995) [A Functional Perspective of Financial Intermediation, Financial Management 24(2), 23–41], we show how the six core functions of financial intermediation are affected by the technological developments. This analysis provides a new perspective on the future of financial services and their regulation.
Keywords: Fintech, cryptocurrencies, P2P lending, intermediation, payments, big-tech, roboadvisory, blockchain
JEL Classification: G1,G2,O33
Suggested Citation: Suggested Citation