In the latest years, technology has been rapidly transforming the financial sector, affecting all those entities gravitating around it. FinTech has been thesubject of an evolving landscape with growth driven especially by the payment segment. Such a disruptive change inevitably presents critical challenges for financial institutions and regulators, as much as for the customers and final users. The extent to which FinTech is going to shape our lives and permanently change the way we think about money, for better or worse, will be determined by our ability to identify and address these challenges properly.

With this document, Action Institute wants to present a list of readings in preparation to the event that will take place in Rome on May 14^th.

The document is organized in the following chapters

1. Banks and Digital Challenges
2. Fintech
3. Digital Payments
4. Lending
5. Asset Management
6. Regtech

• Fintech and banks (VOXEU, March 2018)
  This column argues that although incumbent banks face rising competitive pressure, they are unlikely to be fully replaced by FinTechs in many of their key functions. https://voxeu.org/article/fintech-and-banks

• Banks Should Take A Page from Fintechs On Innovation (Oliver Wyman, January 2019)
  This article analyzes what fintech can teach to banks and how it can boost their growth.https://www.oliverwyman.com/our-expertise/insights/2019/jan/banks-should-take-a-page-from-fintechs-on-innovation.html

• PwC’s 2018 Digital Banking Consumer Survey: Mobile users set the agenda (PwC, June 2018)
  PwC surveys 4,000 consumers regarding how they think and feel about a variety of different banking channels and activities and compares the results to similar surveys  conducted over the past six years to see how the landscape is evolving. https://www.pwc.com/il/he/bankim/assets/2018/PwC%202018%20Digital%20Banking%20Consumer%20Survey.pdf

• Synergy and disruption: Ten trends shaping fintech (McKinsey, December 2018)
  McKinsey analyzes FinTech trends under four main aspects: infrastructure providers, technology ecosystems, new entrants and incumbent financial institutions. https://www.mckinsey.com/~/media/McKinsey/Industries/Financial%20Services/Our%20Insights/Synergy%20and%20disruption%20Ten%20trends%20shaping%20fintech/Synergy-and-disruption-Ten-trends-shaping-fintech.ashx 

• Cyber finance challenges demand a unified response (CEPS, October 2018)
  In this Policy Insight, the author assesses the impact of innovation in the cyber-sphere on finance and addresses the central question of whether the policy response is adequate.
  https://www.ceps.eu/publications/cyber-finance-challenges-demand-unified-response 

• 2018 FINTECH100 Leading Global Fintech Innovators(H2 Ventures & KPMG, November 2018)
  The Fintech100 comprises a ‘Top 50’ and an ‘Emerging 50’ and highlights those companies that are taking advantage of technology globally and driving disruption within the financial services industry.
  https://h2.vc/wp-content/uploads/2018/11/Fintech100-2018-Report_Final_22-11-18sm.pdf

• G20/OECD Policy Guidance Financial Consumer Protection Approaches in the Digital Age (OECD, 2018)
  This Policy Guidance Note supports the implementation of some principles in the fintech world to establish responsible digital financial practices to protect financial consumers and build trust and confidence in digital financial services.https://www.oecd.org/finance/G20-OECD-Policy-Guidance-Financial-Consumer-Protection-Digital-Age-2018.pdf

• Top 10 Trends in Payment: 2019 (Capgemini, December 2018) The report analyzes the top-10 payments trends for 2019 and the industry’s new open ecosystem with its potential challenges and benefits.https://www.capgemini.com/wp-content/uploads/2018/12/Top-10-Trends-in-Payments-2019.pdf 

• Payments in the Digital Age (Accenture, July 2018) The whitepaper outlines some of the key strategies banks and financial institutions need to focus on to stay relevant and meet the demands of a fast- forward future.https://www.accenture.com/t20180717T083406Z__w__/us-en/_acnmedia/PDF-81/Accenture-Payments-in-the-Digital-Age.pdf

• Global Payments 2018: Reimagining the Customer Experience (BCG, October 2018)
  The report examines the challenges and opportunities that digital payments will create over the next ten years.
  http://image-src.bcg.com/Images/BCG-Global-Payments-2018-Oct-2018_tcm9-205095.pdf

• How Mobile Money Agents Can Expand Financial Inclusion –(BCG, February 2019)
  The paper analyzes how the digital financial services have the potential to bring the developing countries population into the financial system—giving them greater financial security and resilience to economic setbacks. https://www.bcg.com/publications/2019/how-mobile-money-agents-can-expand-financial-inclusion.aspx

• European Consolidation In Payments (Oliver Wyman, December 2018)With the European payments market undergoing an unprecedented wave of consolidation, the author explores the reasons for this, but also the impact for banks and merchants, and the outlook for the future.https://www.oliverwyman.com/our-expertise/insights/2018/dec/european-consolidation-in-payments.html

• Europe’s Payments Revolution (CEPS, September 2018)The column investigates whether the PSD2 will achieve the European Commission’s aim of making online payments even easier, safer and cheaper.https://www.ceps.eu/publications/europe%E2%80%99s-payments-revolution

• The lending revolution: How digital credit is changing banks from the inside (McKinsey, August 2018)
  In this article, McKinsey looks at the six design principles that successful banks have used to build digital-lending capabilities and transform their institutions.https://www.mckinsey.com/business-functions/risk/our-insights/the-lending-revolution-how-digital-credit-is-changing-banks-from-the-inside
  • The Role of Technology in Mortgage Lending (CEPR, May 2018) This paper results suggest that technological innovation has improved the efficiency of financial intermediation in the U.S. mortgage market. https://cepr.org/active/publications/discussion_papers/dp.php?dpno=12961#

• A Shakeout is Coming in Small-business Lending (Oliver Wyman, November 2018) This column analyzes how Fintech companies are moving into the SMEs lending market and how they’re threatening the incumbent banking giants.https://www.oliverwyman.com/our-expertise/insights/2018/nov/a-shakeout-is-coming-in-small-business-lending.html
• The Implications of Trust on the Lending Activities of Banks and Fintech Firms (VOXEU, 21 August 2018)
  This column argues that trust in financial institutions may have a first-order impact on whether non-bank (fintech) firms can survive when competing against traditional banks.https://voxeu.org/article/trust-and-lending-activities-banks-and-fintech-firms

• Achieving Digital Alpha in Asset Management (McKinsey, November 2018)
  This article argues that the ability to generate value through digitization will increasingly separate leaders and followers in North American asset management. https://www.mckinsey.com/industries/financial-services/our-insights/achieving-digital-alpha-in-asset-management

• How FinTech is shaping asset and wealth management (PwC, September 2016)The authors of this paper argue that Asset and wealth managers should watch FinTech companies closely and adopt a responsive digital strategy.https://www.pwc.com/gx/en/financial-services/pdf/fin-tech-asset-and-wealth-management.pdf
• Winds of Change: The Future of FinTech in the Wealth Management Industry (BNP Paribas, November 2018)
  The column explore the rapid developments seen in the field of digital wealth management and the opportunities expected in the near future. https://wealthmanagement.bnpparibas/en/expert-voices/fintech-trends-in-wealth-management.html

• Wealth-Management Firms Battle Over Millennials (The Wall Street Journal, September 23, 2018)
  In this article the author analyzes fintech startups head start with the millennials generation and the traditional firms response.https://www.wsj.com/articles/wealth-management-firms-battle-over-millennials-1537754880?mod=searchresults&page=1&pos=7

• Technology Based Innovations for Regulatory Compliance (RegTech) in the Securities Industry(FINRA, September 2018)
  This paper provides a summary of how RegTech tools are being applied in 5 different areas and it highlights key benefits and potential regulatory and implementation implications for broker-dealer firms to consider as they explore and adopt RegTech tools. http://www.finra.org/sites/default/files/2018_RegTech_Report.pdf
• Using RegTech to transform compliance and risk from support functions into business (Deloitte, February 2018)

The author suggests that the RegTech offers solutions to use technology to solve compliance and regulatory issues
https://www2.deloitte.com/content/dam/Deloitte/lu/Documents/risk/lu-using-regtech-to-transform-compliance-and-risk-from-support-functions-into-business-differentiators.pdf

• RegTech: The future of market abuse surveillance (PwC, April 2018)This Regulatory brief outlines challenges in market abuse surveillance and trends in regulatory technology that can help address them. https://www.pwc.com/us/en/financial-services/regulatory-services/publications/assets/pwc-regtech-market-abuse-surveillance.pdf