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Innovation in Financial Services: Balancing Public and Private Interests

Innovation in Financial Services: Balancing Public and Private Interests

Hardcover

Series: Banking, Money and International Finance

AccountingEconomicsInvesting & Finance

ISBN10: 0367508915
ISBN13: 9780367508913
Publisher: Routledge
Published: Oct 30 2020
Pages: 278
Weight: 1.25
Height: 0.90 Width: 6.10 Depth: 9.30
Language: English

This book delves into the many innovative changes that the financial industry has undergone in recent years. The authors investigate these developments in a holistic manner and from a wide range of perspectives: both public and private, business and consumer, regulators and supervisors.

Initially, they set the framework of their analysis by discussing innovation cycles in financial services. Thereafter, they tackle the issue of financial innovations and their consequences for financial stability. They then review the new approaches to financial consumers' protection, which emerged in the aftermath of the global financial crisis. The authors underline the fact that this new approach is heavily influenced by the recent innovative drive in the financial industry. Next, they switch their attention to the public sector, examining the innovative processes in monetary policy and central banks, structural innovations in the supervisory models and systems, and they assess some specific supervisory challenges regarding blockchain and the application of mathematics in the supervisory capacity. Additionally, the book examines a range of issues related to the private sector, such as recent developments regarding risk transferring mechanisms on the financial market, artificial intelligence and natural language processing for regulatory filings, the development of process management in insurance companies and other innovative products on the market. Finally, Innovation in Financial Services discusses how the digital transformation of the financial system impacts the interaction between the public and private sectors.

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