Banking Disruption

Banks and financial institutions perform an essential function in a modern economy, linking together customers that have capital deficits and customers with capital surpluses. Nowadays, there is a creative destruction that incessantly revolutionizes the economic structure "from within, incessantly destroying the old one, incessantly creating a new one" - Joseph Schumpeter dixit. A decade after the financial crisis began in 2007, and after a massive and very costly clean-up and recapitalization, the global banking industry is passing through an even more disruptive stage. Exponential technologies are leading to a tectonic shift, offering enormous opportunities for building a much more efficient and productive financial system capable of efficiently driving global growth and well-being. This demands a profound transformation of the financial ecosystem.This essay aim at addressing these issues and phenomena, along with the regulatory and ethical challenges.

Autorentext

Federico G. Rega est spécialisé dans la gestion des risques et les activités de recherche pour les banques et les institutions financières. Ses principaux domaines d'intérêt sont la banque, la fintech, la finance ESG et la modélisation du risque de crédit. Anciennement économiste et blogueur. En 2017, il a également fondé FinTutor, un laboratoire de recherche fournissant le premier chatbot consacré à la littératie financière en Italie.