Fintech Innovation

Nicoletti, Bernardo

doi:10.1007/978-3-319-51415-4_4

Cited by 12 publications

(16 citation statements)

References 17 publications

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“…Examples include digital reporting, digital loan origination, payment transfers, and demonetisation resulting in the conception of new banking market segments, channels, and products. Fintech generally leverages technology and innovation, delivering niche services via electronic (online) conduits by disintermediation circumventing incumbent financial institutions (Nicoletti, 2017). The creation of new, untapped (or even neglected) value networks directly impacts existing markets and customers and it can threaten to dislocate established and reputable institutions.…”

Section: Introductionmentioning

confidence: 99%

Fintech and regtech: Impact on regulators and banks

Anagnostopoulos¹

2018

Journal of Economics and Business

347

159

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The purpose of this paper is to develop an insight and review the effect of FinTech development against the broader environment in financial technology and to offer perspectives in order to aid the understanding of the disruptive potential of FinTech and its implications for the wider financial ecosystem. By drawing upon very recent and highly topical research on this area this study examines the implications for financial institutions and regulation especially when technology poses a challenge to the global banking and regulatory system. It is driven by a wide-ranging overview of the development, the current state, and possible future of fintech. This paper attempts to fuse together both practitioner-led and academic research. While it draws on academic research, the perspective it takes is also practice-oriented. It relies both on current literature and insights from industry sources and other publicly available commentaries such as professional practitioners' roundtable discussions in which the author has been an active participant. We attempt to interpret banking and regulatory issues from a behavioural perspective. The last crisis exposed significant failures in regulation and supervision. It has made the Financial Market Law and Compliance a key topic on the current agenda. Disruptive technological change seems to be important in investigating regulatory compliance followed by change; we contribute to the current literature review on financial and digital innovation by new entrants where this has also practical implications. We also provide for an updated review of the current regulatory issues addressing the contextual root causes of disruption within the financial services domain aiming to assist market participants to improve effectiveness and collaboration. The difficulties arising from extensive regulation may suggest a more liberal and principled approach to financial regulation. Disruptive innovation has the potential for welfare outcomes for consumers, regulatory and supervisory gains as well as reputational gains for the financial services industry. For example, the preparedness of the regulators to instil culture change and harmonise technological advancements with regulation-as the financial services industry evolves-could likely achieve an orderly growth, aid further systemic stability and restore trust and confidence in the financial system. Our action-led research results have implications for both research and practice. These should be of interest to regulatory standard setters, investors, international organizations and other academics who are researching regulatory and competition issues and their manifestation within the financial and social contexts. As a perspective on a social construct, this study appeals to regulators and law makers, entrepreneurs and investors who participate in technology applied within the innovative financial services domain. It is also of interest to bankers who might consider FinTech and strategic partnerships as potential future strategic direction.

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Section: Introductionmentioning

confidence: 99%

Fintech and regtech: Impact on regulators and banks

Anagnostopoulos¹

2018

Journal of Economics and Business

347

159

View full text Add to dashboard Cite

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“…Reliability, Debates, Volatility (Khanna & Palepu, 1997, 2000Mair et al, 2007;Nicoletti, 2017;Tracey & Phillips, 2011;Williamson, 1985;Zaheer & Zaheer, 2006 For data analysis, we followed Miles, Huberman, and Saldaña (2019) initially with a pre-analysis of the data collected and exploration of the material. Afterward, the discussion was unfolded in the light of each source of institutional voids.…”

Section: Informationmentioning

confidence: 99%

“…Regulations are abstract, impartial, and generalist normative acts that should provide economic and social stability. Almost all nations have their regulations based on their culture, financial system, and historical experience (Nicoletti, 2017).…”

Section: Brokerage"mentioning

confidence: 99%

“…There needs to be transparency and a set of instruments that are consolidated and following the current economic setting (Nicoletti, 2017). In an economic and social environment, where there are institutional failures such as spaces for the opportunity (Mair et al, 2007) any of these conditions may impact the performance efficiency, blocking the entry of new players or restricting the welfare conditions of the population.…”

Section: Introductionmentioning

confidence: 99%

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The Influence of Institutional Voids in the Institutionalization of Bitcoins as a Currency

Rafael¹,

Verschoore²,

Monticelli³

2021

International Journal of Business, Economics and Management

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Bitcoin is a social movement, which promises free and decentralized money, absent from the traditional regulatory institutions, but it can be challenging for financial industry regulators and other players in the financial markets. Thus, our study aims to analyze how the institutional voids manifest in the bitcoin institutionalization process as a currency. We adopt the institutional theory, from the perspective of institutional voids, in order to observe the concepts in emerging markets that show the difficulty or the beginning of the institutionalization of bitcoin as a currency. The institutional theory provides an opportunity to understand the reasons for using particular practices, actions, or manifestations. Our method is based on a qualitative exploratory approach with semi-structured interviews to understand how financial market experts perceive this phenomenon. Our results show that it is possible to identify how institutional voids manifest themselves, reinforcing the debate on whether bitcoin is, in fact, a currency. Contribution/Originality:This study analyzes bitcoin as an economic object through the logic of institutional voids. Thus, with the institutional perspective as a background and theoretical support, it is examined how the institutional voids are manifested in the process of institutionalization of the bitcoin as a currency. non-existent, that is, institutional voids (Khanna & Palepu, 1997). In this sense, institutional voids are characterized by information asymmetry, misguided regulations and inefficient legal systems that affect the product market,

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“…The academic literature on fintech is also growing rapidly. Several books and survey papers have been written on the subject from various different perspectives; see, for example, the books by Nicoletti (2017) and Lynn et al (2019) and the survey papers by Puschmann (2017) and Gai et al (2018). Gomber et al (2018) discuss the innovations, disruptions, and transformations brought about by the fintech revolution.…”

Section: Introductionmentioning

confidence: 99%

Frontiers in Service Science: Fintech Operations—An Overview of Recent Developments and Future Research Directions

Hao

Pinedo

et al. 2021

Service Science

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In this paper, we provide a survey of recent developments in the fintech (financial technology) industry, focusing on the operational structures, the technologies involved, and the operational risks associated with the new systems. In particular, we discuss payment systems, algorithmic trading, robo-advisory, crowdfunding, and peer-to-peer lending. In the conclusion section, we discuss various promising research directions.

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Fintech Innovation

Cited by 12 publications

References 17 publications

Fintech and regtech: Impact on regulators and banks

Fintech and regtech: Impact on regulators and banks

The Influence of Institutional Voids in the Institutionalization of Bitcoins as a Currency

Frontiers in Service Science: Fintech Operations—An Overview of Recent Developments and Future Research Directions

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