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Archive » September 2021 » The digital revolution in the financial and payments sector

The digital revolution in the financial and payments sector

Alessio Botta, Arianna Pileri
September 2021 - n. 9
Keywords: Digitalizzazione, settore finanziario, pagamenti
Jel codes: G20, M15, E42

The digitalization process is affecting many industries, but it has not yet radically transformed the Financial sector, especially in Europe. Some useful ideas to understand the possible evolutionary scenario of the Financial industry, and in particular of payments, come from the digital transformation that has affected the world of music – whose services are in some respects similar to the financial ones – and from the effectiveness of Chinese models based on ecosystems of services that are not necessarily financial. For Europe, the key could be a closer cooperation between the large financial intermediaries, which will continue to play a crucial role, and the protagonists of innovation in the sector, such as Fintechs.

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