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제 목 2017년  제31권 제4호 The Effects of Fintech Prepaid Serviceson
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첨부파일 31-4-02 한재훈 전주용 강경훈35-49.pdf (369.98 KB)
The Effects of Fintech Prepaid Serviceson Competition and Stability in Banking

Jae-Joon Han⋅Jooyong Jun⋅Kyeong-Hoon Kang


This paper theoretically examines the impacts of the asymmetric expansion of the Fintech-based
prepaid services (e.g. Alipay, Cashbee, Payco) on competition and stability in the banking sector.
Specifically, Fintech prepaid services can substitute bank deposits in retail payments service but
is less likely to penetrate into loan service. Our model focuses on such asymmetric competition
pressure from the entry of Fintech firms on the banks operations. We find that if the expansion
of Fintech prepaid services concentrate on the deposit market but not on the loan provision,
then banks are likely to take more risky loans. Our finding is interesting because our result in
the risky loan is the same as what Allen and Gale (2000) finds, even though our model is based
on Boyd and De Nicolo (2006) which has the opposite finding. The reason is due to the introduction
of asymmetric competition environment into Boyd and De Nicolo (2006). On the
contrary, if the competition becomes symmetric in both deposit and loan market by allowing
equally enhanced competition into the loan market, the Fintech entry will possibly enhance financial
stability by making banks taking less risky loan. The supervisory authorities need to take
this point into account when they make their policies.

Keywords : Fintech, Competition in Banking, Financial Stability
JEL Classification Number : G21


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