A profound and radical transformation is taking place in the financial services industry across the entire world, with a host of non-financial innovators offering financial products and services. In particular, the banking system competitive landscape and its boundaries are deeply changing. The entry into the financial system by non-bank players is no longer a future possibility but a strong and existing threat towards traditional banking operators. The following are just some of latest news and quotes characterizing the press related to banking system, which provide a brief insight about the relevance of the transformation: “Pay with Google goes live” “Amazon offers credit to merchants that sell on its platform, using sales data to measure risk. If a merchant defaults on the loan, Amazon can choose to withhold sales on its platform. The company has already made loans worth over $3 billion using this platform, and is expanding the offering to reach even more merchants.” “Orange to launch online banking service on Nov. 2” “Bank of Amazon? US regulator calls for rethink on separation of banking and commerce” “UK Fintech take market share from dominant high-street banks” “In a decade, could Facebook tag our personal finances?” The research thesis proposes an in-depth study and analysis of new entrants players and their financial services solutions and it has been realised in collaboration with the Osservatorio of Fintech & Digital Finance of Politecnico di Milano.
Una radicale trasformazione sta caratterizzando il settore dei servizi finanziari a livello globale, con una serie di attori non prettamente finanziari che offrono prodotti e servizi finanziari. Il panorama competitivo del sistema bancario e i suoi confini stanno cambiando profondamente e l'ingresso nel sistema finanziario da parte di operatori non bancari non rappresenta più una possibilità futura, bensì un’attuale minaccia forte per gli operatori bancari tradizionali di tutto il mondo. Le seguenti sono solo alcune delle ultime notizie registrate che evidenziano la rilevanza della trasformazione in corso dagli ultimi anni: “Pay with Google goes live” “Amazon offers credit to merchants that sell on its platform, using sales data to measure risk. If a merchant defaults on the loan, Amazon can choose to withhold sales on its platform. The company has already made loans worth over $3 billion using this platform, and is expanding the offering to reach even more merchants.” “Orange to launch online banking service on Nov. 2” “Bank of Amazon? US regulator calls for rethink on separation of banking and commerce” “UK Fintech take market share from dominant high-street banks” “In a decade, could Facebook tag our personal finances?” La tesi di ricerca propone uno studio approfondito dei nuovi operatori e delle loro soluzioni finanziare ed è stata realizzata in collaborazione con l'Osservatorio di Fintech & Digital Finance del Politecnico di Milano.
Big tech and non-financial players threaten the traditional banking operators
CONIGLIO, GIUSEPPE;CHIANESE, VINCENZO
2017/2018
Abstract
A profound and radical transformation is taking place in the financial services industry across the entire world, with a host of non-financial innovators offering financial products and services. In particular, the banking system competitive landscape and its boundaries are deeply changing. The entry into the financial system by non-bank players is no longer a future possibility but a strong and existing threat towards traditional banking operators. The following are just some of latest news and quotes characterizing the press related to banking system, which provide a brief insight about the relevance of the transformation: “Pay with Google goes live” “Amazon offers credit to merchants that sell on its platform, using sales data to measure risk. If a merchant defaults on the loan, Amazon can choose to withhold sales on its platform. The company has already made loans worth over $3 billion using this platform, and is expanding the offering to reach even more merchants.” “Orange to launch online banking service on Nov. 2” “Bank of Amazon? US regulator calls for rethink on separation of banking and commerce” “UK Fintech take market share from dominant high-street banks” “In a decade, could Facebook tag our personal finances?” The research thesis proposes an in-depth study and analysis of new entrants players and their financial services solutions and it has been realised in collaboration with the Osservatorio of Fintech & Digital Finance of Politecnico di Milano.| File | Dimensione | Formato | |
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Big Tech and Non-financial players threaten the traditional banking operators_Chianese, Coniglio.pdf
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https://hdl.handle.net/10589/137227