Fintech: Between Synergy and Power Struggle in the Banking and Financial Sector

Thibault F.

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Fintech: Between Synergy and Power Struggle in the Banking and Financial Sector

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Themes

Fintech, synergy, power struggle, banking, finance, financial ecosystem, literature review, research, financial actors, Big Data, blockchain, API Application Programming Interface, open banking, collaboration, ecosystem, new technology, globalization of financial services, evolution of fintech, FinTech Financial Technology, digitalization of financial services, Holland FinTech, IPO Initial Public Offering, cryptocurrencies, AI Artificial Intelligence, machine learning, big data infrastructure, storage infrastructure, banking market, digital infrastructure, product innovation, robo-advisor, FaaS FinTech as a Service, democratization of the Internet, Société Générale, Yomoni, Boursorama, digital, N26, Revolut, neobank

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Abstract

This thesis examines the future of fintech integration within a complex financial ecosystem. It explores the impact that these have and will have in the future on the market. Through a literature review divided into three research questions combined with a qualitative approach, we will try to examine the means of penetration and evolution of these financial actors still recent in this field.

Introduction
Literature Review
1. The emergence of FinTech
2. A disruptive opportunity
3. Fintech Challenge
4. Limitations of the existing literature review
Research Methodology
1. Chosen approach
2. Interview Guide
3. Data collection and sampling
4. Method of analysis
Results
1. How have specific environmental factors generated opportunities and challenges for the creation of the FinTech industry?
2. What specific strategies do FinTech startups use to increase their success, and how are these strategies different from those used by traditional players?
3. What is the long-term effect of the FinTech sector on the financial industry and society in general?
Discussion
Limitations and Future Directions of the Study
Conclusion
Bibliography
Appendix

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[...] They are developed in-house and are only accessible to developers of banks or FinTechs. Internal APIs have little or no security and authentication because they are not publicly exposed, and these security levels are assumed to depend on other layers or separate policies. This situation is changing, however, as increased threat awareness and regulatory compliance requirements are increasingly influencing organizations' API strategy. The disadvantage is that, to operate, the bank will have to mobilize many human, technical and financial resources in order to best anticipate this highly competitive market and offer innovative services. [...]

[...] Thus, our problem was "How does FinTech fit into the financial landscape in the face of the hegemony of established players?" Our contribution helped to define the challenges faced by FinTech and to understand the value of collaborations that will allow traditional financial institutions to stay up to date through the use of FinTech as a service. Indeed, banks, insurance companies and other established players are increasingly trying and succeeding in adopting a digital model where the customer and employees will be in contact through a platform. [...]

[...] The impact of governance signals on ICO fundraising success. Journal of Industrial and Business Economics, 283-312. Karantias, K., Kiayias, A., & Zindros, D. (2020). Smart contract derivatives. In Mathematical Research for Blockchain Economy (pp. 1-8). Springer, Cham. Gomber, P., Kauffman, R. [...]

[...] FinTech is the technological innovations that are revolutionizing the banking and financial world. FinTech startups have integrated these new technologies in order to offer new business models and financial products and services. These innovative products and services are increasingly used by consumers to the detriment of those offered by traditional financial players. Nevertheless, the regulation has recently evolved with the adoption of the GDPR (General Data Protection Regulation) and the PSD2 (Payment Services Directive and created new challenges, both for new players and for traditional financial players. [...]

[...] There is a real difference in approach between traditional banks and FinTechs. FinTechs will actually try to monetize their customers' data enormously and make a commercial rebound. This is also a bit of a pernicious effect of the fact that they are able to use their data very well and monetize it, and it is not unique to FinTechs, GAFA and telecom operators do the same. Banks, on the other hand, have positioned themselves on the banking secrecy side and therefore say the data entrusted by my customers they do not leave my home. [...]

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