Management Seminars: Andrew Leyshon (University of Nottingham)
Andrew Leyshon (University of Nottingham)
15-19 Tyndalls Park Road G.15
Title: The Rise of the FinTech Economy: Platforms, Places, Populations
This paper will address the merger of two powerful forces within the contemporary global economy: financial services and digital platforms. Mobilizing digital technologies and data analytics, the FinTech economy is a form of platform finance, accessed by users through mobile telecommunication networks and smartphone applications linked to cloud computing. The paper will interrogate three distinctive features of the FinTech economy that help to explain its rise to a position of significance within the global financial system. First, the intermediary role of the platform as a unique digital economy business model that is backed by venture capitalists and other investors. Second, the centralized and variegated geography of FinTech, which has seen it emerge in certain urban agglomerations through distinctive combinations of capital, knowledge and regulation. Third, and finally, its ability to target and enrol segmented populations of users which have enabled it to capture market in mature retail financial markets while at the same time forming novel markets for previously excluded or unserved individuals and households. The paper concludes by considering the potential systemic risks of the rise of platform finance and the FinTech economy.