Rewolucja technologiczna a konkurencja w sektorze finansowym

• Authors: Janina Harasim

Title variants

EN

Technological disruption and competition in the financial sector

Abstracts

EN

The rapid development of modern technology and the increasing number of FinTechs can bring new competition challenges to incumbents. First, the author identifies the most important technologies implemented in the financial sector, such as artificial intelligence, machine learning, APIs, cloud computing, mobile technology and DLT. Next, she analyses BigTechs’ customer-centric platform-based business model and its impact on competition in the financial sector. The expansion of BigTechs into finance should lower the barriers to entry by reducing information and transaction costs, and thereby enhance financial inclusion. However, the long-term impact could be negative as BigTechs can exploit their market power to increase user switching costs and/or to exclude potential competitors. The impact of smaller FinTechs on competition seems to be more beneficial as they rather collaborate than compete with incumbents (especially with banks) while bank – FinTech alliances aim at improving the prospects and the market value of both FinTechs and banks.

Keywords

EN

digitalization; BigTech; FinTech; competition

• Publisher: Kancelaria Sejmu / Chancellery of the Sejm
• Journal: Studia BAS
• Year: 2020
• Issue: 3(63)
• Pages: 43-59

Dates

published

2020

Contributors

author

Janina Harasim

• Uniwersytet Ekonomiczny w Katowicach

• https://orcid.org/0000000152442319

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Identifiers

DOI

10.31268/StudiaBAS.2020.21

Biblioteka Nauki

2896617