- The emergence of neo-banks in India and the UK reflects the increasing demand for digital financial services. The dawn of the digital age in the financial sector has paved the way for increased alliances between incumbents and ‘fintech’ organizations.- Neo-banks, digital-only banks that...

We analyse systemic risk in the core global banking system using a new network-based spectral eigen-pair method, which treats network failure as a dynamical system stability problem. This is compared with market price-based Systemic Risk Indexes (SRIs), viz. MES (Marginal Expected Shortfall),...

The Prime Minster Jan-Dhan Yojna (PMJDY), started in 2014, follows in a long line of drives for financial inclusion in India, marked only by a much greater scope and ambition than previous roll outs. This top down approach to close the gap on the unbanked of India relies primarily on public...

Novelty, innovation and surprises are ubiquitous in evolution and human social systems, with the adaptive immune system (AIS) and capitalism being respective exemplars. While novelty production embodies the hallmark of complex adaptive systems (CAS), as yet there is no consensus on what produces...

Financial network analysis is used to provide firm level bottom-up holistic visualizations of interconnections of financial obligations in global OTC derivatives markets. This helps to identify Systemically Important Financial Intermediaries (SIFIs), analyse the nature of contagion propagation,...

The growing proportion of UK bank lending to the financial sector reached a peak in 2007 just before the onset of the Global Financial Crisis (GFC). This marks a trend in the dwindling amount of bank lending to private sector non-financial corporations (PNFCs), which was exacerbated with the...

Powers of recursion are often adduced for ‘recombinant innovation'. The onset of the digital economy, based on operations on discretely encoded information, has renewed interest in this. Digital computing has a provenance with the John von Neumann dynamical systems theory based on complex...