Please use this identifier to cite or link to this item: http://hdl.handle.net/10419/156472
Authors: 
Paul, Stephan
Rudolph, Bernd
Zech, Sarah
Oehler, Andreas
Horn, Matthias
Wendt, Stefan
Jentzsch, Nicola
Year of Publication: 
2016
Citation: 
[Journal:] Wirtschaftsdienst [ISSN:] 1613-978X [Volume:] 96 [Year:] 2016 [Issue:] 9 [Pages:] 631-647
Abstract: 
Die Digitalisierung hat neue Kanäle für Finanztransaktionen eröffnet, die sich für Banken als echte Konkurrenz erweisen können. Digitale Beratungsangebote und Crowdlending bieten den Kunden Chancen, ihr Vermögen unabhängig von Banken zu verwalten und Kredite untereinander zu vergeben. Dafür benötigen sie vor allem klare und verständliche Informationen. Bei der Übernahme von Bankdienstleistungen durch Nichtbanken besteht allerdings die Gefahr, dass ein unregulierter Bereich entsteht. Wird dieser aber zu starkreguliert, könnten innovative Dienstleistungen im Keim erstickt werden. Die neuen Technologien erweitern zudem die Spielräume, um die Kreditwürdigkeit von Kunden zu überprüfen. Dies wird von den Aufsichtsbehörden noch nicht ausreichend beachtet.
Abstract (Translated): 
Digitalisation opens new channels for financial transactions. Crowdlending and Digital Advice offer additional opportunities for customers to manage their assets. In the banking market, 'FinTechs' are the most notable example of what Schumpeter described as 'creative destruction'. They could threaten the existence of established banks. Therefore the banks should use the FinTechs as a testing laboratory for customer behavior and testing ground for a more modern marketing policy. This environment gives rise to concerns that there may develop an unregulated area of shadow banks. But it should be considered that a level playing field has to be ensured and that innovative processes and products are not stalled. A potential advantage of Digital Advice is that consumers can have the possibility to access the relevant information they need to make their financial decisions. Consumers, in turn, are only able to benefit from this advantage if competition between financial service providers leads to a supply of clear and comprehensible information about financial products and an appropriate degree of data security. The rise of Big Data analyses in retail banking allows a more precise estimation of creditworthiness risk as well as a consumer's willingness-to-pay, propensity to switch and responsiveness to marketing offers. This not only impacts on competition, it represents major challenges for policymakers, authorities and consumers alike.
Persistent Identifier of the first edition: 
Document Type: 
Article

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