Miglo, Anton (2022): FinTech Development in Greater Manchester: An Overview.
Preview |
PDF
MPRA_paper_111348.pdf Download (778kB) | Preview |
Abstract
This article analyzes the patterns of Fintech development in Greater Manchester, UK. Manchester is often called a northern capital of Fintech. We analyze different subsectors of FinTech and find that such sectors as payments, fintech loans, debt-based, reward-based and real-estate-based crowdfunding, big data analytics, data security, insurtech and regtech are the most growing areas. We also compare the Fintech structure in Manchester with that in London and other major cities in the UK and identify similarities and differences.
Item Type: | MPRA Paper |
---|---|
Original Title: | FinTech Development in Greater Manchester: An Overview |
Language: | English |
Keywords: | FinTech, cryptocurrencies, digital finance, crowdfunding, Fintech in Manchester, data security |
Subjects: | G - Financial Economics > G0 - General > G00 - General G - Financial Economics > G1 - General Financial Markets > G10 - General G - Financial Economics > G3 - Corporate Finance and Governance > G32 - Financing Policy ; Financial Risk and Risk Management ; Capital and Ownership Structure ; Value of Firms ; Goodwill O - Economic Development, Innovation, Technological Change, and Growth > O3 - Innovation ; Research and Development ; Technological Change ; Intellectual Property Rights > O33 - Technological Change: Choices and Consequences ; Diffusion Processes |
Item ID: | 111348 |
Depositing User: | Dr Anton Miglo |
Date Deposited: | 03 Jan 2022 04:59 |
Last Modified: | 03 Jan 2022 05:00 |
References: | Agrawal, A., C. Catalini, and A. Goldfarb. 2010. The Geography of Crowdfunding. NBER Working Paper No. 16820. 10.2139/ssrn.1692661 Andriotism A.M. and P. Rudegeair, “Lenders Shunned Risky Personal Loans. Now They’re Competing for Them,” Wall Street Journal, August 24, 2018. Ante, L., Fiedler, I. (2019). Cheap Signals in Security Token Offerings (STOs). BRL Working Paper N. 1. Bakos, Y., and H. Halaburda. (2018). The Role of Cryptographic Tokens and ICOs in Fostering Platform Adoption. Working Paper. http://dx.doi.org/10.2139/ssrn.3207777 Bank for International Settlements, “Sound Practices: Implications of Fintech Developments for Banks and Bank Supervisors,” Basel Committee on Banking Supervision, February 2018a. Bank for International Settlements (BIS), “International Banking and Financial Market Developments,” BIS Quarterly Review (September 2018): 30– 36 Bank of International Settlements, “Central Bank Digital Currencies,” Committee on Payments and Market Infrastructures, March 2018b. Bansal, S., P. Bruno, O. Denecker, M. Goparaju, and M. Niederkorn, “Global Payments 2018: A Dynamic Industry Continues to Break New Ground,” McKinsey, October 2018, 4. Beck, T. H. L., Demirgüc-Kunt, A., and V. Maksimovic. (2008). Financing patterns around the world: Are small firms different? Journal of Financial Economics 89(3): 467-487. Belitski, M., R. Caiazza, and E. Lehmann. (2019). Knowledge frontiers and boundaries in entrepreneurship research, Small Business Economics, forthcoming. Belleflamme, P., T. Lambert, and A. Schwienbacher. (2014). Crowdfunding: Tapping the Right Crowd. Journal of Business Venturing: entrepreneurship, entrepreneurial finance, innovation and regional development 29 (5): 585-609. Belleflamme, P., N. Omrani, and M. Peitz. (2015). The Economics of Crowdfunding Platforms. Information Economics and Policy 33 (C): 11-28. Brainard, L. “Supporting Fast Payments for All,” (speech, Fed Payments Improvement Community Forum, Chicago, Illinois, October 3, 2018). Canidio, A. 2018. "Financial incentives for open source development: the case of Blockchain", working paper, MPRA. https://mpra.ub.uni-muenchen.de/103804/1/MPRA_paper_103804.pdf Catalini, C., and J.S. Gans. 2018. "Initial Coin Offerings and the Value of Crypto Tokens". NBER Working Paper, 24418. Capgemini and BNP Paribas, World Payments Report 2017 (2017): 5–7, 9–12, 16; Capgemini and BNP Paribas, World Payments Report 2018 (October 2018): 5, 9, 11. Catlin, Tanguy, Johannes-Tobias Lorenz, Björn Münstermann, Peter Braad Olesen, and Valentino Ricciardi, “Insurtech—The Threat That Inspires,” McKinsey, March 2017. Chemla, G. and K. Tinn. 2019. Learning Through Crowdfunding, Management Science, forthcoming. Published Online:1 Aug 2019 https://doi.org/10.1287/mnsc.2018.3278 Chod, J., and E. Lyandres. 2019. "A Theory of ICOs: Diversification, Agency, and Information Asymmetry". working paper, available at SSRN: https://ssrn.com/abstract=3159528. Claessens, Stijn, Jon Frost, Grant Turner and Feng Zhu. Fintech credit markets around the world: size, drivers and policy issues BIS Quarterly Review | September 2018 Cole, R., Cumming, D., & Taylor, J.. (2019). Does FinTech Compete with or Complement Bank Finance? Available at SSRN: https://ssrn.com/abstract=3302975 or http://dx.doi.org/10.2139/ssrn.3302975 Cong, L., Y. Li, and N. Wang. 2018. "Tokenomics: Dynamic Adoption and Valuation". Working Paper. https://bfi.uchicago.edu/working-paper/tokenomics-dynamic-adoption-and-valuation/ Cumming, D. and L. Hornuf. 2018. The Economics of Crowdfunding Startups, Portals and Investor Behavior. Palgrave Macmillan. 10.1007/978-3-319-66119-3 Darden, Katie , Tom Mason, and Eric Turner, “2017 US Fintech Landscape,” S&P Global Market Intelligence (2017): 5 Das, S. (2019). The future of FinTech. Financial Management 48(4): 981-1007. Davis, L. “The State of Regtech,” CBInsights, September 20, 2017; Estrin, S., D. Gozman and S. Khavul. (2018). The Evolution and Adoption of Equity Crowdfunding: Entrepreneur and Investor Entry Into a New Market. Small Business Economics 51(2): 425-439. Gan, J., G. Tsoukalas, and S. Netessine. (2020). Initial Coin Offerings, Speculation, and Asset Tokenization. Management Science 67(2). https://doi.org/10.1287/mnsc.2020.3796 Garratt, R., and M. van Oordt. 2019. "Entrepreneurial Incentives and the Role of Initial Coin Offerings", Bank of Canada, Staff Working Paper. https://www.bankofcanada.ca/2019/05/staff-working-paper-2019-18/ Holden, R., and A. Malani. 2019. "The ICO Paradox, Transaction Costs, Token Velocity, and Token Value", NBER Working Papers 26265. Hornuf, L., Schmitt, M., and E. Stenzhorn. 2020. Does a Local Bias Exist in Equity Crowdfunding?, CESifo Working Paper Series 8154, CESifo Jagtiani, J., and C. Lemieux, “Small Business Lending after the Financial Crisis: A New Competitive Landscape for Community Banks,” Economic Perspectives 40, no. 3 (Federal Reserve Bank of Chicago, November 2016): 2. Jagtiani, J., and C. Lemieux, “Fintech Lending: Financial Inclusion, Risk Pricing, and Alternative Information” (working paper, Research Department, Federal Reserve Bank of Philadelphia, June 16, 2017): 3, 8. Lee, J., and C. Parlour. 2020. "Consumers as Financiers: Crowdfunding, Initial Coin Offerings and Consumer Surplus", working paper. https://www.chapman.edu/research/institutes-and-centers/economic-science-institute/_files/ifree-papers-and-photos/parlour-lee-consumers-as-financiers-2019.pdf Levitt, H. Personal Loans Surge to a Record High, Bloomberg (July 3, 2018), available at: https://www. bloomberg.com/news/articles/2018-07-03/personal-loans-surge-to-a-record-as-fintech-firms-lead-the-way (analyzing data from TransUnion). Li, J., and W. Mann. 2018. "Initial Coin Offering and Platform Building". Working Paper, https://pdfs.semanticscholar.org/309e/f98741d5da2003df8317fd605e1ac83d6fb9.pdf Mazzotti, E., and F. Caminiti, “Where Fintech Lending Will Land and What It Means for Banks: The Time Is Right for Strategic Collaboration. Focus on Europe,” Accenture (2017): 9 Miglo, A., and V Miglo. 2019. Market Imperfections and Crowdfunding. Small Business Economics Journal 53(1): 51-79. Miglo, A. (2020a). Crowdfunding and Bank Financing: Substitutes or Complements, https://ssrn.com/abstract=3948361 Miglo, Anton, Choice Between IEO and ICO: Speed vs. Liquidity vs. Risk (2020b). Available at SSRN: https://ssrn.com/abstract=3561439 Miglo, Anton. (2021a). STO vs. ICO: A Theory of Token Issues under Moral Hazard and Demand Uncertainty. Journal of Risk and Financial Management 14: 232. https://doi.org/10.3390/jrfm14060232 Miglo, A. (2021b). Comparing Crowdfunding Theory and Practice: The Case of Technology Firms in England. Working paper, https://papers.ssrn.com/sol3/papers.cfm?abstract_id=3818387 Mochkabadi, K. and C. Volkmann. Equity Crowdfunding: a Systematic Review of the Literature. Small Business Economics, 2018, forthcoming. https://doi.org/10.1007/s11187-018-0081-x Moritz, A. and J. Block. 2014. Crowdfunding: A Literature Review and Research Directions. Available at SSRN: http://ssrn.com/abstract=2554444 Myalo, A. (2019). Comparative Analysis of ICO, DAOICO, IEO and STO. Case Study, Digital Financial Assets, DOI: 10.26794/2587-5671-2019-23-6-6-25. Nakamoto, S. (2008). Bitcoin: A Peer-to-Peer Electronic Cash System. Ngai, J., J. Zucker, P. Kennedy, and S. London, “Wealth Management in an Era of Robots, Regulation, and New Money,” McKinsey, March 2018 Park, Y. S. “The Inefficiencies of Cross-Border Payments: How Current Forces Are Shaping the Future,” Visa, November 2006, 5, 8–10, 14. Perkins, D. W. “Marketplace Lending: Fintech in Consumer and Small-Business Lending,” Congressional Research Service (September 4, 2018): 6–7 Perkins, D. W, (2020). Fintech: Overview of Innovative Financial Technology and Selected Policy Issues. https://fas.org/sgp/crs/misc/R46332.pdf PwC, Asset & Wealth Management Insights: Exploring the Impact of FinTech, January 2017, 6. PwC, Digital Wealth Management: Driving Engagement through Data-Driven Insights, January 2018. Schaus, P. “The Right Approach to Digital-Only Banks,” American Banker, November 26, 2018, https://www.americanbanker.com/opinion/the right-approach-to-digital-only-banks (accessed Dec. 30, 2018). Schwienbacher, A. and B. Larralde. 2012. Alternative Types Of Entrepreneurial Finance. The Oxford Handbook of Entrepreneurial Finance, Edited by Douglas Cumming. Schwienbacher, A. 2018. Entrepreneurial Risk-taking in Crowdfunding Campaigns. Small Business Economics 51(4): 843-859. Stiglitz, J., and A. Weiss. 1981. Credit rationing in markets with imperfect information. American Economic Review 73: 93-409. Strausz, R. 2017. Crowdfunding, Demand Uncertainty, And Moral Hazard - a Mechanism Design Approach. American Economic Review 107(6): 1430-76. Thakor, Anjan V., Fintech and Banking. Journal of Financial Intermediation 41, January 2020, 100833 Thakor, Richard T. and Merton, Robert C., Trust in Lending (2018). Working paper, https://ssrn.com/abstract=3201689 |
URI: | https://mpra.ub.uni-muenchen.de/id/eprint/111348 |