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Recent financial innovations and the development of digital technologies have considerably changed the landscape and the business models of the finance industry. Hence, the development of Fintech, defined by the Financial Stability Board (2017) as “technologically enabled financial innovation that could result in new business models, applications, processes or products with an associated material effect on financial markets and institutions and the provision of financial services”, might have major impacts on the sector of credit institutions, a process analysed by Stulz (2019). The emergency of FinTech credit institutions thus poses specific types of risks that can only be understood by analysing the different kinds of business models involved.
To analyze Business...
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