Tilburg Law and Economics Center

TILEC supports and stimulates academic research on the governance of economic activity. It fosters academically path breaking and practically relevant research and aims to be a leading center worldwide.

Competition Workshop: "FinTech and Competition in the Financial Sector"

FinTech and Competition in the Financial Sector
13.00 - 16.30 CPB, The Hague

On October 25, the CPB Netherlands Bureau for Economic Policy Analysis, the Netherlands Authority for Consumers and Markets (ACM), Tilburg Law and Economics Center (TILEC), Ministry of Economic Affairs and Amsterdam Center for Law & Economics (ACLE) organize a Competition Workshop on “FinTech and Competition in the Financial Sector”.

New digital applications, take for instance the strong growth of cloud computing and the ubiquitous smartphone, are slowly transforming the economy. Now, these applications seem about to change the financial sector. New “FinTech” firms offer novel digital financial services and start to compete with the traditional banks – who are heavily investing in information technology themselves. Policymakers are adjusting to these developments, as illustrated by the new Payments Services Directive and the “Innovation Hub” of the Dutch financial supervisors. The aim of this workshop is to discuss how FinTech may change the financial sector, to what extent FinTech challengers are able to compete with incumbents, and how policymakers should respond.

The presentation of Fabio Braggion of Tilburg University offers an empirical perspective. He takes us to China, and shows us how a Chinese peer-to-peer lending platform impacts financial household decisions. Michiel van Leuvensteijn of ACM discusses the potential for foreclosure of new FinTech firms by incumbent banks in the payments industry and to what extent existing regulation can prevent this. For a European policy perspective on FinTech and competition, we give the floor to Peter Kerstens (European Commission).


 

12:45-13:00 Coffee and tea
13:00-13:15 Introduction by the Chair
Focco Vijselaar (Chief Economist at Ministry of Economic Affairs)
13:15-13:45 Is FinTech a Threat to Financial Stability? Evidence from Peer-to-Peer Lending in China
Fabio Braggion (Tilburg University)
13:45-14:00 Discussion
Wilko Bolt (VU, DNB)
14:00-14:30 Foreclosure of FinTech? A competition law perspective
Michiel van Leuvensteijn (ACM)
14:30-14:45 Discussion
Eric van Damme (TILEC)
14:45-15:15 Break
15:15-15:45 Title tba
Peter Kerstens (European Commission, DG FISMA)
15:45-16:00 Discussion
Michiel Bijlsma (CPB, Tilburg University)
16:00-16:30 Wrap-up by the Chair
16:30 Drinks

 

Registration

We cordially invite you to participate in the workshop. If you would like to attend, please send an e-mail with your name and affiliation to Bastiaan Overvest (b.overvest@cpb.nl).

Location

CPB Netherlands Bureau for Economic Policy Analysis

Bezuidenhoutseweg 30, The Hague

Seminarzaal 3 (Braamzaal)

When: 25 October 2017 12:45

End date: 25 October 2017 16:30