北大数字金融Workshop第十一讲 | Sergey Sarkisyan, OSU Fisher

第十一讲 Instant Payment Systems and Competition for Deposits

时间：2025年 06月06日 周五 北京时间 上午10:00-11:30

地点/Venue：

线下：北京大学国家发展研究院承泽园校区131教室

线上：ZOOM会议（会议号: 897 2560 1400  密码: 938759）

主讲人/Speaker:   Sergey Sarkisyan

主持人/Host：       胡佳胤 Jiayin Hu

摘要/Abstract:

I study how financial technology reshapes competition among banks. I exploit quasi-random variation in exposure to the introduction of Brazil's Pix, an instant payment system, and show that instant payments increase deposit competition. Small bank deposits rise relative to large banks because Pix allows small banks to offer payment convenience more similar to large banks. Since they become more competitive providing payment services, small banks reduce deposit rates relative to large banks. Finally, I estimate a deposit demand model and find that depositors' welfare increases with Pix. These findings suggest that universally available payment systems can foster banking competition.

主讲人介绍/Biography:

Sergey Sarkisyan is an Assistant Professor of Finance at the Fisher College of Business at the Ohio State University. He joined the Department of Finance at Fisher in 2024, after earning a Ph.D in Finance from the Wharton School of the University of Pennsylvania. He also holds a bachelor's degree in economics from Lomonosov Moscow State University.

Professor Sarkisyan's research interests include financial intermediation, monetary policy, and payment technologies. His recent research studies how payment technology impacts bank deposit markets and monetary policy. His research has been featured by The Economist and The American Banker.