| Résumé : |
Thus, these FinTechs, through the diversified services they offer, are competing with financial institutions in their core business, notably in services such as credit, payment etc. These increasingly widespread and well-known electronic platforms have become major rivals for traditional banks in several services and more particularly in credit financing, especially at the personal and household level. By the diversity of their services and the ease of access to them, these platforms have the advantage and are starting to take over the traditional banking system in several aspects. Indeed, these new competitors are targeting neglected segments such as crowdfunding, p2p and lending clubs, which boosts
their competitive advantage. In addition, the flexibility, cost effectiveness and speed of their financing methods as well as their regulatory relief allows FinTech’s to gain in performance and notoriety. The challenges are not limited to the credit function, but include marketing strategies, high response and flexibility in the provision of new services, access to a larger number of customers, and reaching the less banked or even unbanked people. According to Pierrakis and Collins (2013), "These innovations can disrupt existing industry structures and blur industry boundaries, facilitate strategic disintermediation, revolutionize the way existing businesses create and deliver products and services, offer new gateways for entrepreneurship, democratize access to financial services, but also create significant privacy, regulatory and law enforcement challenges." |
The Impact of Fintech in the restructuring of the Banking Sector as part of Financing/Lending offer in France / 2022 
