DigiWorld2016revisedsubmission.pdf (348.33 kB)
Competition policy and the financial technology revolution in banking
journal contributionposted on 2016-10-05, 10:12 authored by Alistair MilneAlistair Milne
This paper argues that the more ambitious prognosticatons of the outcome of the current "Fintech" revolution, a transformation of banking to the benefit of customers, depend critically on the appropriate use of competition law and policy, in particular the regulation of access to banking platforms. Without supportive intervention of this kind by regulators and central banks to promote incentives for adoption, for example through requiring standardised information exchange through "application programming interfaces" (APIs) and widening access to central bank money, incumbents are likely to successfully resist substantial change.
- Business and Economics
Published inDigiworld Economic Journal
Pages145 - 161 (17)
CitationMILNE, A., 2016. Competition policy and the financial technology revolution in banking. DigiWorld Economic Journal, 103, pp. 145-161.
- AM (Accepted Manuscript)
Publisher statementThis work is made available according to the conditions of the Creative Commons Attribution-NonCommercial-NoDerivatives 4.0 International (CC BY-NC-ND 4.0) licence. Full details of this licence are available at: https://creativecommons.org/licenses/by-nc-nd/4.0/
NotesThis article was published in the issue http://www.idate.org/en/Digiworld-store/No-103-Digital-Innovation-Finance-Transformation_1093.html