FinTech and RegTech: Enabling Innovation While Preserving Financial Stability

Arner, Douglas W.; Zetzsche, Dirk Andreas; Buckley, Ross P.; Barberis, Jànos

doi:10.1353/gia.2017.0036

Cited by 49 publications

(51 citation statements)

References 3 publications

Supporting

Mentioning

Contrasting

Unclassified

Order By: Relevance

“…RAs have been introduced into the relatively labor-intensive professionalized workforce of the financial sector by stressing its voluntary nature (Bartlett and McCarley, 2019), the potential to attract new clients and keep at a distance information technology firm like Amazon, Tencent, Apple and Alibaba which have an interest in taking a lead role in FinTech (Arner et al, 2017). Regarding FinTech and more particularly within it, RAs develop the opportunity from three inter-related points of view.…”

Section: Hybrid-control Business Modelmentioning

confidence: 99%

Robo-advisors (RAs): the programmed self-service market for professional advice

Wexler

Oberlander

2021

JSTP

View full text Add to dashboard Cite

PurposeThis conceptual paper draws together an interdisciplinary approach to robo-advisors (RAs) as an example of an early and successful example of automated, programmed professional services.Design/methodology/approachLittle is known about the forces driving this change in the delivery of professional service. This work explores the drivers of RAs, the degree of disruption incurred by the introduction of RAs, and how, as RAs advance, trust in algorithmic authority aids in legitimating RAs as smart information.FindingsFrom the firms' perspective, the drivers include rebranding occasioned by the financial crisis (2008), the widening of the client base and the “on-trend” nature of algorithmic authority guided by artificial intelligence (AI) embedded in RAs. This examination of the drivers of RAs indicates that professional service automation is aligned with information society trends and is likely to expand.Practical implicationsExamining RAs as an indicator of the future introduction of programmed professional services suggests that success increases when the algorithmic authority in the programmed serves are minimally disruptive, trustworthy and expand the client base while keeping the knowledge domain of the profession under control of the industry.Originality/valueTreating RAs as an early instance of successfully embedding knowledge in AI and algorithmically based platforms adds to the early stages of theory and practice in the monetization and automation of professional knowledge-based services.

show abstract

Section: Hybrid-control Business Modelmentioning

confidence: 99%

Robo-advisors (RAs): the programmed self-service market for professional advice

Wexler

Oberlander

2021

JSTP

View full text Add to dashboard Cite

show abstract

“…The dynamic growth of fintech credit is challenging regulators to strike the right balance between accommodating financial innovation one the one hand and traditional regulatory objectives of financial stability and market integrity on the other (Ferrarini 2017;Zetzsche et al 2017;Arner et al 2017;Anagnostopoulos 2018;Xu and Xu 2019;World Bank 2020). The detailed analysis of the trade-off between the benefits and the risks of financial innovation for achieving these regulatory objectives provides for a solid base for the policy response to resolve the regulatory dilemma (Minto et al 2017;FSB 2017a;Vives 2017;Omarova 2020).…”

Section: Regulatory Dilemmamentioning

confidence: 99%

Regulatory Response to the Rise of Fintech Credit in The Netherlands

Huibers

2021

JRFM

View full text Add to dashboard Cite

The rise of financial technology (fintech) driven business models in banking poses a challenge for financial regulators. While the positive effects on the banking sector in terms of greater diversity and competition are generally recognized and encouraged by regulators, the nature of fintech business models may increase the risk of financial instability. Regulators are exploring ways to resolve this dilemma. The paper in hand makes a contribution to the literature by providing a framework for resolving the dilemma that is evaluated in the context of the regulatory response to the rise of fintech credit in the Netherlands. The semi-structured interviews which we conducted with four senior Dutch regulators resulted in three areas that–from their perspective–required urgent action: fintech credit companies need to lower the risk of overlending, increase pricing transparency, and improve lending standards. These findings were confirmed by the results of they survey among fintech credit clients. The current regulatory response to the rise of fintech in banking in the Netherlands provides an interesting case study that delineates the features of the future regulation of fintech in banking.

show abstract

“…In 1995, Wells Fargo launched the first internet banking using the protocol www (World-Wide-Web), followed by the emergence of branchless banking in 2005. FinTech 2.0 refers to the various types of financial institutions commonly known as banking conglomerates and insurance companies (Arner, Barberis, & Buckley, 2017). During this period, all ingredients of todays' FinTech curriculum were taught as separate fields of studies in one program with different concentrations like undergraduate programs having a business major with Management Information systems or Information technology as a minor.…”

Section: Theoretical Backgroundmentioning

confidence: 99%

Designing the guidelines for FinTech curriculum

Hudithi¹,

Siddiqui²

2021

JESI

View full text Add to dashboard Cite

This paper aims to share the experiences of developing the FinTech (Finance Technology) curriculum at a leading business school in the Middle East. This research paper presents the findings on various methodological issues of curriculum design, i.e., degree naming convention, degree structure, dissertation versus project, specializations. The objective of the current study was to develop a postgraduate curriculum for FinTech studies. The entire procedure was based on the notion of "adoption" to "adaptation" originated by the benchmarking approach using a comparative account of 22 universities offering FinTech Masters. A multipronged approach was used to study the existing FinTech curriculum and suggests the gap in the existing curriculum. Eight major areas are identified as the pillars of FinTech education, including FinTech, Business and Data Analytics, Programming using Python and R, Blockchain and Cryptocurrency, Artificial Intelligence, and Machine Learning, Information Systems & Technology, Regulatory Environment (RegTech), Quantitative Methods, Finance and others. Researching on new and emerging topics is always tricky. It is difficult for even FinTech students and aspirants to evaluate the quality of FinTech qualifications. People from different streams of education would like to join FinTech studies, and there is no standardization of professional association certifying FinTech Curriculum.

show abstract

FinTech and RegTech: Enabling Innovation While Preserving Financial Stability

Cited by 49 publications

References 3 publications

Robo-advisors (RAs): the programmed self-service market for professional advice

Robo-advisors (RAs): the programmed self-service market for professional advice

Regulatory Response to the Rise of Fintech Credit in The Netherlands

Designing the guidelines for FinTech curriculum

Contact Info

Product

Resources

About