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Financial intermediation and technology: what's old, what's new?
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| Personen und Körperschaften: | , , , |
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| Titel: | Financial intermediation and technology: what's old, what's new?/ Arnoud Boot, Peter Hoffmann, Luc Laeven, Lev Ratnovski |
| Format: | E-Book |
| Sprache: | Englisch |
| veröffentlicht: |
Frankfurt am Main, Germany
European Central Bank
[2020]
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| Gesamtaufnahme: |
Europäische Zentralbank: Working paper series ; no 2438 (July 2020)
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| Quelle: | Verbunddaten SWB Lizenzfreie Online-Ressourcen |
| Zusammenfassung: | We study the effects of technological change on financial intermediation, distinguishing between innovations in information (data collection and processing) and communication (relationships and distribution). Both follow historic trends towards an increased use of hard information and less inperson interaction, which are accelerating rapidly. We point to more recent innovations, such as the combination of data abundance and artificial intelligence, and the rise of digital platforms. We argue that in particular the rise of new communication channels can lead to the vertical and horizontal disintegration of the traditional bank business model. Specialized providers of financial services can chip away activities that do not rely on access to balance sheets, while platforms can interject themselves between banks and customers. We discuss limitations to these challenges, and the resulting policy implications. |
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| Umfang: | 1 Online-Ressource (circa 34 Seiten); Illustrationen |
| ISBN: |
9789289940818
9289940816 |
| DOI: | 10.2866/73816 |