This paper studies the economic impact of the emergence of FinTech platforms on financial intermediation. In China …

FinTech firms can do, but FinTech firms benefit from an uneven playing field in that they are less regulated than banks. The … uneven playing field enables non-bank FinTech firms to challenge banks for specific products whose success is not tied to … loans to small firms. Both Fintech and BigTech are contributing to a secular trend of banks losing their comparative …

interest. FinTech algorithms also discriminate, but 40% less than face-to-face lenders. These results are consistent with both … FinTech and non-FinTech lenders extracting monopoly rents in weaker competitive environments or profiling borrowers on low … silver linings emerge in the FinTech era: (1) Discrimination is declining; algorithmic lending may have increased competition …

Technology-based ("FinTech") lenders increased their market share of U.S. mortgage lending from 2% to 8% from 2010 to … 2016. Using market-wide, loan-level data on U.S. mortgage applications and originations, we show that FinTech lenders … geographic observables. Faster processing does not come at the cost of higher defaults. FinTech lenders adjust supply more …

. Does it succeed? We study the response of FinTech to financial services demand created by the introduction of the Paycheck … Protection Program (PPP). We find that FinTech is disproportionately used in ZIP codes with fewer bank branches, lower incomes … understand whether these differences arise because certain groups are switching from traditional banks to FinTech or if they are …

Developing country lenders are taking advantage of fintech tools to create fully digital loans on mobile phones. Using …

The FinTech sector has begun to grow rapidly in sub-Saharan Africa. I document far greater adoption of social media …, digital currency, ride sharing, and other FinTech applications in countries with a common law legal heritage compared to those … entrepreneurship in the developing world. The electrical, telecom, and Internet infrastructure required for FinTech has been built out …