FinTech, BigTech, and the Future of Banks

Stulz, René M.

doi:10.2139/ssrn.3455297

Cited by 33 publications

(45 citation statements)

References 15 publications

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“…As Stulz (2019) discusses, two well-known FinTech firms, LendingClub and Kabbage, make traditional small-business loans through a banking subsidiary or a funding bank partner. Buchak et al (2018) show that there has been a dramatic growth in online FinTech lenders of mortgage loans post-financial crisis.…”

Section: Literature Reviewmentioning

confidence: 99%

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Does Fintech Substitute for Banks? Evidence from the Paycheck Protection Program

Erel

Liebersohn

2020

SSRN Journal

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We would like to thank René Stulz, Tejaswi Velayudhan, Daniel Green, Greg Howard, Victor Lyonnet for very helpful comments. Thanks to May Zhu for excellent research assistance. All errors are our own. The views expressed herein are those of the authors and do not necessarily reflect the views of the National Bureau of Economic Research. NBER working papers are circulated for discussion and comment purposes. They have not been peer-reviewed or been subject to the review by the NBER Board of Directors that accompanies official NBER publications.

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Section: Literature Reviewmentioning

confidence: 99%

“…E.g., "Banks Gave Richest Clients 'Concierge Treatment' for Pandemic Aid," NYT, April 2020. 5 See, e.g.,Buchak, Matvos, Piskorski and Seru (2018),Chernenko, Erel and Prilmeier (2019),Stulz (2019),Liebersohn (2020), andGopal and Schnabl (2020).…”

mentioning

confidence: 99%

Does Fintech Substitute for Banks? Evidence from the Paycheck Protection Program

Erel

Liebersohn

2020

SSRN Journal

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“…So, we also contribute to studies that examine to what extent BigTechs will impact the future of banks (e.g. Stulz 2019). Second, we add to the privacy literature (for an overview, see Acquisti et al 2015).…”

Section: ) Does Consumers' Willingness To Give Banks and Licensed Psmentioning

confidence: 99%

“…However, several studies discuss the potential impact of regulation, technological developments, FinTechs and BigTechs on the future of banks. For example, Stulz (2019) highlights that BigTechs have unique advantages that are difficult for banks to replicate, and argues that banks are losing their comparative advantage as they have less access to unique information on parties seeking a loan. We focus on consumer attitude and assess how successful new firms like BigTechs may be in competing for with banks for consumers in payments markets.…”

Section: Literature Reviewmentioning

confidence: 99%

Consumer Propensity to Adopt PSD2 Services: Trust for Sale?

2020

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“…In theory, specialized credit-financial agents can do most of the operations that fin-tech companies do, but the latter receive more profit from unsteady financial situations, as these companies are less regulated than the former ones. Unsteady financial situation allows non-bank fin-tech companies compete successfully, for example, with banks in some products, whose success is not connected with the bank uniqueness, but they cannot substitute banks on the financial market completely (Stulz, 2019).…”

Section: Perspectives Of Digitization In Financial Relations Of the Rmentioning

confidence: 99%