The Emerging Digital Financial Landscape

Part I provides an overview to the emerging digital financial landscape, to set the stage of the current environment, and the challenges that are arising.

Chapter 1 reviews new technologies that are bringing in new types of players and new types of financial products, all of which render obsolete the branch network as a key competitive advantage in financial services.

Chapter 2 examines the emerging digital financial landscape from the viewpoint of the changes in demand and supply of financial services, as well as the changing competitive environment. Importantly, new business models that are emerging are examined as they potentially can raise challenges to the central banks' remits.

Chapter 3 examines key emerging challenges that are arising in the digital financial landscape, both those that are specific to emerging business models and those that are general to digital financial services.

Chapter 4 first reviews how the emerging challenges discussed in Chapter 3 threaten monetary and financial stability, the two key remits of most central banks, before delving into how the central banks might be able to respond to such challenges.