Front Matter Page
Research Department
Contents
1. Introduction
2. Financial intermediation and technological progress
The role of information and communication in financial intermediation
Conceptual framework
3. Information innovation: Established trends, amplified
Established trends
New developments
4. Communication innovation: Novel and increasingly pertinent
Established trends
New developments
5. The future of banks
Challenge 1: Horizontal disintegration through specialized competitors
Challenge 2: Re-intermediation through platforms
Limiting factors and banks’ response
6. Policy challenges
Prudential policy: New dimensions
Monetary policy: A new environment
Competition policy: Platforms as natural monopolies for communication and data
Public standards and infrastructures: Focus on data and interconnections
7. Conclusions