Open AccessFINANCIAL DIGITALIZATION: BANKS, FINTECH, BIGTECH, AND CONSUMERS
Author(s) -
Santiago Carbó Valverde,
Francisco Rodríguez Fernández
Publication year - 2020
Publication title -
journal of financial management markets and institutions
Language(s) - English
Resource type - Journals
ISSN - 2282-717X
DOI - 10.1142/s2282717x20400010
Subject(s) - competition (biology) , business , financial innovation , matching (statistics) , financial services , fintech , field (mathematics) , finance , marketing , ecology , statistics , mathematics , biology , pure mathematics
This article explores some recent macroeconomic and microeconomic approaches to financial digitalization and the relationship between banks, FinTech and BigTech. It also deals with new approaches to identify the adoption and implications of financial digitalization by consumers. We show competition between traditional banks and tech companies is mostly driven by their relative ability to manage information sharing. Regulation is still considering ways of providing a level playing field while industry participants are reacting with a mixture of strategies, many of them based on cooperation. The paper also shows there are different ways in which customers access financial digital channels and new approaches from matching learning and brain studies to identify behavioral patterns in financial digitalization decisions.