DigiWorld2016revisedsubmission.pdf (348.33 kB)
Competition policy and the financial technology revolution in banking
This paper argues that the more ambitious prognosticatons of the outcome of the current "Fintech" revolution, a transformation of banking to the benefit of customers, depend critically on the appropriate use of competition law and policy, in particular the regulation of access to banking platforms. Without supportive intervention of this kind by regulators and central banks to promote incentives for adoption, for example through requiring standardised information exchange through "application programming interfaces" (APIs) and widening access to central bank money, incumbents are likely to successfully resist substantial change.
History
School
- Business and Economics
Department
- Business
Published in
Digiworld Economic JournalIssue
103Pages
145 - 161 (17)Citation
MILNE, A., 2016. Competition policy and the financial technology revolution in banking. DigiWorld Economic Journal, 103, pp. 145-161.Publisher
IDATEVersion
- AM (Accepted Manuscript)
Publisher statement
This work is made available according to the conditions of the Creative Commons Attribution-NonCommercial-NoDerivatives 4.0 International (CC BY-NC-ND 4.0) licence. Full details of this licence are available at: https://creativecommons.org/licenses/by-nc-nd/4.0/Acceptance date
2016-07-28Publication date
2016-09-12Notes
This article was published in the issue http://www.idate.org/en/Digiworld-store/No-103-Digital-Innovation-Finance-Transformation_1093.htmlLanguage
- en