Fintech and the Remaking of Financial Institutions, Second Edition explores the transformative potential of new entrants and innovations on business models. In its survey and analysis of Fintech, this book addresses current and future states of money and banking. It provides broad contexts for understanding financial services, products, technology, regulations, and social considerations. The second edition expands and updates topics covered in the first edition, with particular emphasis on current and expected impact of AI; maturation of crypto and consequent regulatory issues; international developments; and the continued integration of technology advances in large financial institutions. This book shows how Fintech has evolved and will drive the future of financial services. It sheds new light on disruption, innovation, and opportunity by placing the financial technology revolution in larger contexts.
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Table of Contents
1. Introduction2. Disruption and Disintermediation in Financial Products and Services: Why Now?
3. Money: A Medium of Exchange, Unit of Account, and Store of Wealth
4. Financial Institutions
5. Bubbles, Panics, Crashes, and Crises
6. Bank Lending
7. Time Value of Money: Interest, Bonds, Money Market Funds
8. Equities
9. Foreign Exchange
10. Futures, Forwards, and Swaps
11. Commodities
12. Options
13. Startup Financing
14. Fintech in a Global Setting
15. Fintech and Government Regulation: If It Quacks Like a Bank…
16. Social issues: energy consumption, race, and gender issues in hiring and promotion, unemployment, and income distribution
17. They are Not Dead Yet: How Big Financial Institutions Will Work with Fintech Startups to Define the Market Structure of the Future
