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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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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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 (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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(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 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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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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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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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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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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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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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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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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