Banking
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The Rise of Digital Lending
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Traditionally, businesses and consumers have obtained loans from banks, credit unions, and other financial institutions. However, in recent years, alternative forms of credit have arisen from the burgeoning financial technology (“fintech”) industry and large, established technology companies like Amazon, Google, and Microsoft (“Big Tech”). Rapid credit growth can often forecast…
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In Small-Business Lending, Technology Hasn’t Replaced Face-to-Face Contact
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Technological advances in information processing have dramatically transformed consumer banking. Americans today can apply for home mortgages, credit cards and bank accounts without ever stepping foot in a bank branch. Indeed, these advances have rendered the local bank branch obsolete for many, with in-branch visits accounting for only a small…
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Avoiding Systemic Risks and Tackling Recessions: A Network Perspective
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Employing network theory to understand social and economic interactions is coming into prominence, and these authors want to understand this phenomenon.