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Please use this identifier to cite or link to this item: https://dspace.lboro.ac.uk/2134/22668

Title: Competition policy and the financial technology revolution in banking
Authors: Milne, Alistair
Keywords: Access regulation
Central bank money
Competition law
Incentives for innovation
Financial infrastructure
Financial technology
Network economics
Payment schemes
Payments governance
Platform competition
Technology adoption
Issue Date: 2016
Publisher: IDATE
Citation: MILNE, A., 2016. Competition policy and the financial technology revolution in banking. DigiWorld Economic Journal, 103, pp. 145-161.
Abstract: 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.
Description: This article was published in the issue http://www.idate.org/en/Digiworld-store/No-103-Digital-Innovation-Finance-Transformation_1093.html
Version: Accepted for publication
URI: https://dspace.lboro.ac.uk/2134/22668
Appears in Collections:Published Articles (Business)

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