Customer Data Access and Fintech Entry: Early Evidence from Open Banking

时间：3月14日（周二）北京时间 10:00-11:30

Time: Tuesday, March 14, 10:00 - 11: 30 a.m. Beijing Time

Monday, March 13, 7:00 - 8:30 p.m. U.S. PDT

地点：ZOOM

加入 Zoom 会议

https://us02web.zoom.us/j/82359576409?pwd=VHBUQzJJTVV5U2ZHU2o1MWlkZlFhQT09

会议号：823 5957 6409

密码：998306   

主讲人：Greg Buchak

主持人：胡佳胤            

摘要:Open banking is the trend of empowering customers to share their banking data with fintechs and other banks. We compile a novel dataset documenting that governments in 49 countries have implemented open banking policies and 31 more are in active discussions. Following adoption, fintech venture capital investment increases by 50%, with more comprehensive policies showing larger effects. We examine the policy tradeoffs with a quantitative model of consumer data production and usage. Our calibrations show that customer-directed data sharing increases entry by improving entrant screening ability and product offerings, but harms some customers and can reduce ex-ante information production.

主讲人介绍:Greg Buchak is an assistant professor of finance at Stanford Graduate School of Business. Buchak earned his PhD in financial economics at the University Chicago’s department of economics and Booth School of Business. He also received a JD from the University of Chicago Law School. Before graduate school, he was a quantitative trader and portfolio manager at Goldman Sachs and the Royal Bank of Canada. He received a BA in mathematics and a BS in economics at the University of Pennsylvania.Buchak’s primary research field is in corporate finance. He is interested in issues related to financial technology, financial intermediation, consumer finance, and the interplay between the evolving industrial organization of the financial sector, regulation, and technological progress.