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来源类型 | External Publication |
规范类型 | 其他 |
Capital Markets Union and the Fintech Opportunity | |
Maria Demertzis; Silvia Merler; Guntram B. Wolff | |
发表日期 | 2018-03-26 |
出版年 | 2018 |
语种 | 英语 |
概述 | Fintech has the potential to change financial intermediation structures substantially. It could disrupt existing financial intermediation with new business models empowered by intelligent algorithms, big data, cloud computing and artificial intelligence. |
摘要 | This research has been published on Journal of Financial Regulation, Volume 4, Issue 1, 1 March 2018. A version of this publication has been published previously by Bruegel as a Policy Contribution Complementing Europe’s bank-based system with deeper capital markets and more cross-border financial integration promises benefits, but despite long-running debate and policy action, financial system change remains slow. Fintech has the potential to change financial intermediation structures substantially. It could disrupt existing intermediation with new business models empowered by intelligent algorithms, big data, cloud computing, and artificial intelligence. Lower costs and potentially better consumer experiences could be the driving forces. Yet, empirically, fintech remains very small, especially in the European Union (EU). Even the largest fintech market, in China, is of marginal size compared to overall financial intermediation. In the EU, much of fintech is concentrated in the UK. We argue that policymakers need to consider four questions urgently. (i) Develop a European or national fintech market? (ii) What regulatory framework to pursue? (iii) Should supervision of fintech be exercised at the European level? (iv) What is the overall vision for the EU’s financial system? Getting the answers to these questions right at an early stage of market development constitutes an opportunity to shape a stable and cost-efficient financial system. In contrast, late action could mean that Europe loses out to foreign competitors and misses an opportunity to improve financial intermediation in Europe. |
主题 | Finance & Financial Regulation |
关键词 | blockchain China Disruptive technologies Europe fintech |
URL | https://bruegel.org/2018/03/capital-markets-union-and-the-fintech-opportunity-2/ |
来源智库 | Bruegel (Belgium) |
资源类型 | 智库出版物 |
条目标识符 | http://119.78.100.153/handle/2XGU8XDN/429701 |
推荐引用方式 GB/T 7714 | Maria Demertzis,Silvia Merler,Guntram B. Wolff. Capital Markets Union and the Fintech Opportunity. 2018. |
条目包含的文件 | 条目无相关文件。 |
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