Report Contents

July 13, 2021

Fintech and the digital transformation of financial services: implications for market structure and public policy

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Originally published on by Bank of International Settlements . Link to original report

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Economic frictions such as information asymmetries and economic forces such as economies of scale and scope give rise to financial intermediaries. These frictions and forces also shape market structure. While technological advances are not new to finance, digital innovation has brought major improvements in connectivity of systems, in computing power and cost, and in newly created and usable data. These improvements have alleviated transaction costs and given rise to new business models and new entrants. …

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