French banks faced with the emergence of payment and credit FinTechs: Regulatory dynamics and technical change
Type de matériel :
TexteLangue : français Détails de publication : 2022.
Sujet(s) : Ressources en ligne : Abrégé : This article examines the effects of competition from FinTech players on the evolution of the French banking sector. Based on the analysis of the sectoral system of innovation and production (SSIP) of payment services and credit distribution, we show that the technical change resulting from the development of FinTechs has led to the entry of challengers. However, these challengers are not able to destabilize the banking oligopoly. The inertia of the sectoral system can be explained by the combination of the current dynamics of banking regulation favorable to the incumbents, the banks’ ability to adapt, and the low degree of innovation of payment and credit FinTechs.
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This article examines the effects of competition from FinTech players on the evolution of the French banking sector. Based on the analysis of the sectoral system of innovation and production (SSIP) of payment services and credit distribution, we show that the technical change resulting from the development of FinTechs has led to the entry of challengers. However, these challengers are not able to destabilize the banking oligopoly. The inertia of the sectoral system can be explained by the combination of the current dynamics of banking regulation favorable to the incumbents, the banks’ ability to adapt, and the low degree of innovation of payment and credit FinTechs.
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