more bank and nonbank financial service providers have entered the digital space, providing more diversified financial … products and services through various platforms. Despite these developments, however, the industry financial inclusion in the … strong FinTech industry as indicated by an increasing number of FinTechs (particularly in payments, lending, and banking …

By comparing uncollateralized business loans made by a big tech lending program with conventional bank loans, we find … needs. Through this model, big tech lending facilitates credit to borrowers underserved by banks without experiencing more … far before maturity and borrow more frequently. These patterns remain for borrowers with access to bank credit. Our …

examine the impact of the funding of such start-ups on the stock returns of 47 incumbent US retail banks for 2010 to 2016 … relationship exists between the growth in FinTech funding or deals and the contemporaneous stock returns of incumbent retail banks … banks are negative, but not statistically significant. Since the FinTech industry is young and our sample period short, we …