Financial Regulation and Governance


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Issues of regulation and oversight
in relation to FinTechs and the digital revolution

By Pierre Bienvenu
February 2019 - Réalités Industrielles
The digital revolution is disrupting the financial sector: competition is increasing while uses and practices, as represented by FinTechs, are changing fast. All stakeholders in finance must adapt to a market in the throes of change. New uses are diffusing faster. The lowering of technological barriers is stimulating competition, while changes in regulations are making it ...
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FinTechs and banks:
Cooperation and coopetition

By Dominique Chesneau
February 2019 - Réalités Industrielles
Between FinTechs and banks, the die has not yet been cast. Some observers think that the days of the “banking mammoths” are numbered; others, that FinTechs will be disruptive enough to become dominant players in finance. However the future of finance implies cooperation between players on this market, even though competition will exist as long as market positions ...
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The digital economy is storming finance

By Alain Clot
February 2019 - Réalités Industrielles
Till recently, the “universal bank” was the dominant model, long protected by regulations and shielded by customer loyalty. In a challenge to this model, FinTechs, a new category of players, have introduced innovations and are gradually becoming service platforms. Operators in telecommunications and big retail chains, as they try to lessen the attrition of their ...
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Artificial intelligence applied to the finance sector: contractual challenges and liability scenarios

By Marie Danis, Charles Bouffier and Thomas Feigean
February 2019 - Réalités Industrielles
Artificial Intelligence (AI) is spreading to all corners of the economy and, in particular, to the finance sector. Together with the promise of new services, this technology also carries legal risks as there is some uncertainty surrounding the outcomes of the processing it performs. As a result, FinTech companies, which develop tools with AI systems embedded, and banks, which acquire ...
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Finance and Artificial Intelligence (AI):
from an industrial revolution to a human revolution…. a thorough overhaul is required…

By Jean-Philippe Desbiolles
February 2019 - Réalités Industrielles
(Industrial) revolutions come and go but finance remains. Today, in the era of Artificial Intelligence (AI), what changes should the finance industry expect? To answer this, we must first consider the causes of this new revolution, which is industrial only in name, so as to gauge, next, the scope of the changes it will bring about. These range from customer experience to human capital, ...
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Crowdfunding, a fresh source of financing
for SMEs

By Olivier Goy
February 2019 - Réalités Industrielles
Crowdfunding provides an amazing opportunity for both businesses and entrepreneurs. Following fast expansion in English-speaking countries, it spread to mainland Europe. It gained a reputation for donations but gradually evolved to cover equity financing and loans.
The most thriving segment of this new form of financing is crowdlending. The latter ...
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Regulating FinTech and "FinTechifying" regulations

By Héloïse Berkowitz and Antoine Souchaud
August 2018 - Réalités Industrielles
The word "FinTech" conjures up a sort of hybrid monster. It resembles the Minotaur, a construction involving two protean elements that, taken separately, arouse hope and fear in equal measure. Regulating FinTech will require an ability to define unstable phenomena, to create policy networks and forms of innovative organisations between emerging stakeholders and, lastly, to factor ...
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Artificial intelligence
and customer protection in the banking
and insurance industries

By Olivier Fliche
March 2018 - Digital issues
The financial, banking and insurance industries are in the throes of deep changes as a result of the explosion of customer data, now available for processing, and the use of artificial intelligence. New products, new customer relations… the changes to come will bring progress, the first signs already visible. But these changes are also laden with risks for customer relations...
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Finance and artificial intelligence:
A revolution on the march

By Claire Castanet & Camille Planes
March 2018 - Digital issues
After a few years on the outside, artificial intelligence (AI) has once again hit the headlines, raising hopes for a revolution in several sectors. It is benefitting from the combined effects of the exponential growth in computing power and the availability of a wealth of data spawned by the Internet and social media. The financial industry, which depends on its capacity for capturing and ...
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Towards a world without banks?

By Hugues Le Bret
November 2017 - Réalités industrielles
Banks are powerful institutions – the amounts recorded on their balance sheets often exceed the GDP of the country in which they are established, their customer bases are stable and they enjoy significant revenues. They were able to adapt to the Internet revolution of the 2000s. The current digital revolution is much more thoroughgoing because it affects how the entire population...
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Distributed ledger technology: What impact on the financial infrastructure?

By Alexis Collomb, Klara Sok & Lucas Léger
August 2017 - Réalités industrielles
There has been much talk about how distributed ledger technology (DLT), in particular blockchains, will transform the financial infrastructure. Why has the financial sector been prudently enthusiastic about this new technology? By focusing on payment systems and the market infrastructure, light is shed on the problems of adopting DLT and the hesitations about doing, in particular ...
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Blockchains, a lever of digitization
for investment banks

By Éric Rossignol & Xavier Laurent
August 2017 - Réalités industrielles
Trust is the driving force in blockchain technology. Investment banks are designing many prototypes using this technology because their business heavily depends on the trust they bring to relations with customers. Till now, investment banks have seen this new technology as an opportunity for curbing costs and delivering a better service to customers rather than as a threat...
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Blockchains, the Bank of France
and the ACPR
By Nathalie Beaudemoulin
Didier Warzee & Thierry Bedoin
August 2017 - Réalités industrielles
The ACPR (Autorité de Contrôle Prudentiel et de Résolution), which oversees the banking and the insurance industry, and the French central bank are coming to grips with the technological revolution under way in financial services. Blockchains are among the techniques that can modify, or even optimize, the processing and delivery of financial transactions. However this not-yet-mature ...
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The majority of the articles published here were translated from French to English by the Translation Centre of the French economy and finance ministries.
The remaining articles were translated by Noal Mellott.

Mise à jour le 6 juin 2019