The European Banking Authority (EBA) published the first products of its FinTech Roadmap, namely (i) a thematic report on the impact of FinTech on incumbent credit institutions' business models and (ii) a thematic report on the prudential risks and opportunities arising for institutions from FinTech. Both reports fall under the wider context of the newly established EBA FinTech Knowledge Hub and aim to raise awareness within the supervisory community and the industry on potential prudential risks and opportunities from current and potential FinTech applications and understand the main trends that could impact incumbents' business models and pose potential challenges to their sustainability.
Report on the impact of FinTech on incumbent credit institutions' business models
Based on the EBA's observations, incumbents are categorised into (i) proactive/front-runners, (ii) reactive and (iii) passive in terms of the level of adoption of innovative technologies and overall engagement with F
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