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FinTech: A New Hedge for a Financial Re-intermediation. Strategy and Risk Perspectives
The emergence of new technologies and players, along with a favorable regulatory framework (PSD2 Directive), is changing the banking industry. FinTechs and TechFins have allowed the introduction of new services and changed the way customers interact to satisfy their financial needs. The FinTech land...
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Formato: | Online Artículo Texto |
Lenguaje: | English |
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Frontiers Media S.A.
2020
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Acceso en línea: | https://www.ncbi.nlm.nih.gov/pmc/articles/PMC7861282/ https://www.ncbi.nlm.nih.gov/pubmed/33733180 http://dx.doi.org/10.3389/frai.2020.00063 |
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author | Omarini, Anna |
author_facet | Omarini, Anna |
author_sort | Omarini, Anna |
collection | PubMed |
description | The emergence of new technologies and players, along with a favorable regulatory framework (PSD2 Directive), is changing the banking industry. FinTechs and TechFins have allowed the introduction of new services and changed the way customers interact to satisfy their financial needs. The FinTech landscape is constantly evolving in the market. Different business value propositions are entering the financial services industry, moving from increasing the user's experience to developing a time to market framework for banks to innovate products, processes, and channels, increasing the cost efficiency and looking for a “partnering on order” to lighten the regulatory burdens for banks. The many businesses of banks are changing their value chains, and banks' business models should do the same accordingly. Strategists could no longer take their value chains as a given; choices have to be made on what needs to be protected and maintained, what abandoned and the new on coming to make banks evolve and become more resilient in doing their job. Banking is shifting significantly from a pipeline, vertical paradigm, to open banking business models where open innovation, modularity, and ecosystem-based bank's business model may become the ongoing mainstream and paradigm to follow and develop. Opportunities and threats for banks are many and new ones to re-gaining their role in the market throughout a re-intermediation process. |
format | Online Article Text |
id | pubmed-7861282 |
institution | National Center for Biotechnology Information |
language | English |
publishDate | 2020 |
publisher | Frontiers Media S.A. |
record_format | MEDLINE/PubMed |
spelling | pubmed-78612822021-03-16 FinTech: A New Hedge for a Financial Re-intermediation. Strategy and Risk Perspectives Omarini, Anna Front Artif Intell Artificial Intelligence The emergence of new technologies and players, along with a favorable regulatory framework (PSD2 Directive), is changing the banking industry. FinTechs and TechFins have allowed the introduction of new services and changed the way customers interact to satisfy their financial needs. The FinTech landscape is constantly evolving in the market. Different business value propositions are entering the financial services industry, moving from increasing the user's experience to developing a time to market framework for banks to innovate products, processes, and channels, increasing the cost efficiency and looking for a “partnering on order” to lighten the regulatory burdens for banks. The many businesses of banks are changing their value chains, and banks' business models should do the same accordingly. Strategists could no longer take their value chains as a given; choices have to be made on what needs to be protected and maintained, what abandoned and the new on coming to make banks evolve and become more resilient in doing their job. Banking is shifting significantly from a pipeline, vertical paradigm, to open banking business models where open innovation, modularity, and ecosystem-based bank's business model may become the ongoing mainstream and paradigm to follow and develop. Opportunities and threats for banks are many and new ones to re-gaining their role in the market throughout a re-intermediation process. Frontiers Media S.A. 2020-10-15 /pmc/articles/PMC7861282/ /pubmed/33733180 http://dx.doi.org/10.3389/frai.2020.00063 Text en Copyright © 2020 Omarini. http://creativecommons.org/licenses/by/4.0/ This is an open-access article distributed under the terms of the Creative Commons Attribution License (CC BY). The use, distribution or reproduction in other forums is permitted, provided the original author(s) and the copyright owner(s) are credited and that the original publication in this journal is cited, in accordance with accepted academic practice. No use, distribution or reproduction is permitted which does not comply with these terms. |
spellingShingle | Artificial Intelligence Omarini, Anna FinTech: A New Hedge for a Financial Re-intermediation. Strategy and Risk Perspectives |
title | FinTech: A New Hedge for a Financial Re-intermediation. Strategy and Risk Perspectives |
title_full | FinTech: A New Hedge for a Financial Re-intermediation. Strategy and Risk Perspectives |
title_fullStr | FinTech: A New Hedge for a Financial Re-intermediation. Strategy and Risk Perspectives |
title_full_unstemmed | FinTech: A New Hedge for a Financial Re-intermediation. Strategy and Risk Perspectives |
title_short | FinTech: A New Hedge for a Financial Re-intermediation. Strategy and Risk Perspectives |
title_sort | fintech: a new hedge for a financial re-intermediation. strategy and risk perspectives |
topic | Artificial Intelligence |
url | https://www.ncbi.nlm.nih.gov/pmc/articles/PMC7861282/ https://www.ncbi.nlm.nih.gov/pubmed/33733180 http://dx.doi.org/10.3389/frai.2020.00063 |
work_keys_str_mv | AT omarinianna fintechanewhedgeforafinancialreintermediationstrategyandriskperspectives |