UID:
edoccha_9961102902602883
Format:
1 online resource (171 pages)
Edition:
1st ed.
ISBN:
9781464819155
Content:
Explores the implications of fintech and the digital transformation of financial services for market outcomes, regulation and supervision, and how these interact. The report is intended to provide a high-level perspective on these topics for senior policy makers.
Note:
Front Cover -- Contents -- Foreword -- Acknowledgments -- Main Messages -- Abbreviations -- Overview -- Introduction -- The Fundamental Drivers of Fintech -- Market Outcomes -- Policy Objectives and Roles for Policy Makers -- Organization of This Publication -- References -- Chapter 1. Introduction -- About Fintech and the Future of Finance -- Conceptual Framework -- Fintech: What It Is and Why It Matters -- Notes -- References -- Chapter 2. Fundamental Drivers of Fintech -- Key Technologies: Connectivity and Computing Power -- Impact of Technology -- Impact of Economic Forces: Scale Economies, Frictions, and Rebundling -- Notes -- References -- Chapter 3. Market Outcomes -- Impacts across the Four Dimensions of Market Outcomes -- Financial Infrastructure -- New Business Models and Products -- New Players: Entry, Concentration, and Competition -- Implications for Market Structure -- Notes -- References -- Chapter 4. Core Policy Objectives and Evolving Trade-Offs -- Main Policy Challenges -- Policy for an Evolving Fintech Market -- Balancing the Policy Trade-Offs -- References -- Chapter 5. Regulation and Supervision -- Current Regulatory Environment -- Typology of Regulatory Responses -- Activity-Specific Regulation -- Data-Generation Issues: Possibilities and Perils -- Regulation for Fair Competition -- Looking Ahead -- Notes -- References -- Chapter 6. Conclusion -- Emerging Policy Implications -- Final Remarks -- References -- Appendix A Overview of Recent Market Developments -- Appendix B Executive Summaries of Technical Notes -- Appendix C Acceleration of Fintech Use during the COVID-19 Pandemic -- Appendix D Open Banking Frameworks in Selected Countries -- Appendix E Principles for Ethical Use of Artificial Intelligence and Data Analytics -- Glossary -- Boxes -- Box 1.1 Fintech and the Future of Finance Technical Notes.
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Box 3.1 Fintech and the COVID-19 Pandemic -- Box 4.1 The Bali Fintech Agenda -- Box 5.1 World Development Report 2021: Data for Better Lives -- Box 5.2 The Rise of Crypto-Assets and Stablecoins: Public Policy Implications -- Box B.1 Characterizing Innovations in Payments -- Figures -- Figure O.1 Conceptual Framework for Fintech: Interactions between Markets, Policy, and Development -- Figure 1.1 Conceptual Framework for Fintech: Interactions between Markets, Policy, and Development -- Figure 1.2 Growth in Mobile Money Accounts and Transactions, 2017-20 -- Figure 1.3 Global Growth in Big Tech Credit Relative to Fintech Credit -- Figure 1.4 Growth in Fintech Investments over the Past Decade -- Figure 2.1 Expectations Regarding Customer Relationships with Financial Service Providers -- Figure 3.1 Market Outcomes of Digital Money and Payments, by Dimension -- Figure 3.2 Market Outcomes of Digital Lending, by Dimension -- Figure 3.3 Expected Shifts in Financial Market Concentration, by Subsector -- Figure 3.4 Expectations about Customer Relationships in Financial Services, by Subsector -- Figure 3.5 Expected Risk of Customer Loss, Risk to Profits, and Potential for Cost Reduction from Fintech and Digital Transformation, by Subsector Type -- Figure 3.6 Potential "Barbell" Financial Services Market: An Illustration -- Figure 4.1 Policy Trade-Offs due to Fintech Developments -- Figure 5.1 Views of Financial Market Participants on Whether the Regulatory Environment Enables Innovation by Incumbents and New Entrants, by Region -- Figure 5.2 Areas in Which Regulators Have Modified Regulatory and Supervisory Approaches to Facilitate Fintech Development or Develop Supervisory Capacity, by Country Income Level.
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Figure 5.3 Areas in Which Regulators Have Modified Regulatory Frameworks to Address Emerging Risks from Fintech Activities, by Activity Type and Country Income Level -- Figure 5.4 The Fintech Regulatory Decision Tree -- Figure A.1 Use of Digital Channels for Sales and Customer Origination -- Figure C.1 Worldwide Downloads of Financial Apps before and during the COVID-19 Pandemic -- Maps -- Map 1.1 Global Use of Digital Payments and Fintech Credit -- Map 1.2 Equity Investments in Fintech Companies -- Map 5.1 A Global Heatmap of Open Banking Implementation -- Table -- Table D.1 Open Banking Authorities and Regulatory Approaches, by Country.
Additional Edition:
Print version: Feyen, Erik Fintech and the Future of Finance Washington, D. C. : World Bank Publications,c2023 ISBN 9781464819148
Language:
English
DOI:
1596/978-1-4648-1914-8
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