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The politics of FinTech: Technology, regulation, and disruption in UK and German retail banking
Public Administration ( IF 4.013 ) Pub Date : 2021-03-04 , DOI: 10.1111/padm.12731
Dermot Hodson 1
Affiliation  

Recent studies suggest that Uber and other tech start-ups disrupt markets through regulatory entrepreneurship. This practice describes how such companies operate outside of regulation or in legal gray areas before mobilizing their customers in support of regulatory change. Financial technology (FinTech) is sometimes called the “Uber of banking,” but banking reveals different political dynamics than the car-for-hire sector. Exploring the rise of online-only banks in the UK and Germany, this article finds that start-ups such as Starling, Monzo, and N26 challenged incumbents without breaking or remaking regulation. The regulatory entrepreneurship approach, which sees FinTech as a difficult case, and the state world of regulatory innovation, which views policy-makers as seizing the opportunity created by new technology to reassess their relationship with incumbents, help to explain these findings. Its conclusions have relevance for wider debates about the governance of health care and legal services and the politics of disruption more generally.

中文翻译:

金融科技的政治:英国和德国零售银行业的技术、监管和颠覆

最近的研究表明,优步和其他科技初创企业通过监管创业来扰乱市场。这种做法描述了这些公司在动员其客户支持监管变革之前如何在监管之外或在法律灰色地带运营。金融科技 (FinTech) 有时被称为“银行业的优步”,但银行业与汽车租赁行业相比揭示了不同的政治动态。本文探索了英国和德国在线银行的兴起,发现 Starling、Monzo 和 N26 等初创企业在没有打破或重新制定监管的情况下挑战现有银行。将金融科技视为一个困难案例的监管创业方法,以及监管创新的国家世界,它认为政策制定者正在抓住新技术创造的机会来重新评估他们与现有企业的关系,这有助于解释这些发现。它的结论与更广泛的关于医疗保健和法律服务治理以及更普遍的破坏政治的辩论相关。
更新日期:2021-03-04
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