Chapter 10 Challenger bank as a new digital form of providing financial services to retail customers in the EU Internal Market
‘Challenger banks’ are banks or non-banking start-ups, the operations of which are based on digital technologies and which challenge big, traditional banks. It is a new approach to provide financial services, where an agile organization and new technologies are the key success factors. The aim of th...
Shranjeno v:
| Main Authors: | , , |
|---|---|
| Format: | Online |
| Jezik: | angleščina |
| Izdano: |
Taylor & Francis
2022
|
| Teme: | |
| Online dostop: | https://library.oapen.org/handle/20.500.12657/53250 |
| Oznake: |
Brez oznak, prvi označite!
|
| _version_ | 1869521414897270784 |
|---|---|
| author | Polasik, Michal Widawski, Paweł Lis, Andrzej |
| author_browse | Lis, Andrzej Polasik, Michal Widawski, Paweł |
| author_facet | Polasik, Michal Widawski, Paweł Lis, Andrzej |
| author_sort | Polasik, Michal |
| collection | Directory of Open Access Books |
| description | ‘Challenger banks’ are banks or non-banking start-ups, the operations of which are based on digital technologies and which challenge big, traditional banks. It is a new approach to provide financial services, where an agile organization and new technologies are the key success factors. The aim of the study is to explore the operations of challenger banks and their new digital approaches to provide banking and investment services to retail customers as an innovation in the financial market. The case of Revolut is used as a unit of analysis. The study makes an attempt to identify and explore: (i) What product innovations have been implemented by Revolut in regard to the customers’ access to financial markets? (ii) How does Revolut compete with other challenger banks and traditional financial institutions? (iii) What are socio-economic consequences of innovations introduced by challenger banks? (iv) What is the legal formula of Revolut's operations? From the perspective of management theory, the study identifies the mechanisms of developing and implementing innovations in the financial sector, in the context of digital transformation and the changes in legal regulations. |
| format | Online |
| id | doab-20.500.12854ir-79272 |
| institution | Directory of Open Access Books |
| language | eng |
| publishDate | 2022 |
| publishDateRange | 2022 |
| publishDateSort | 2022 |
| publisher | Taylor & Francis |
| publisherStr | Taylor & Francis |
| record_format | ojs |
| spelling | doab-20.500.12854ir-792722025-06-24T07:41:29Z Chapter 10 Challenger bank as a new digital form of providing financial services to retail customers in the EU Internal Market Polasik, Michal Widawski, Paweł Lis, Andrzej bond markets; digital financial markets; digital financial markets; Digitalization of Financial Markets; financial institutions; financial markets; financial technologies; FinTech; ICT impact financial markets; information and communication technologies; stock markets thema EDItEUR::K Economics, Finance, Business and Management::KF Finance and accounting::KFF Finance and the finance industry::KFFK Banking thema EDItEUR::K Economics, Finance, Business and Management::KJ Business and Management::KJD Business innovation thema EDItEUR::K Economics, Finance, Business and Management::KJ Business and Management::KJE E-commerce: business aspects thema EDItEUR::K Economics, Finance, Business and Management::KC Economics thema EDItEUR::K Economics, Finance, Business and Management::KC Economics::KCB Macroeconomics thema EDItEUR::K Economics, Finance, Business and Management::KF Finance and accounting::KFF Finance and the finance industry thema EDItEUR::K Economics, Finance, Business and Management::KC Economics::KCB Macroeconomics::KCBM Monetary economics ‘Challenger banks’ are banks or non-banking start-ups, the operations of which are based on digital technologies and which challenge big, traditional banks. It is a new approach to provide financial services, where an agile organization and new technologies are the key success factors. The aim of the study is to explore the operations of challenger banks and their new digital approaches to provide banking and investment services to retail customers as an innovation in the financial market. The case of Revolut is used as a unit of analysis. The study makes an attempt to identify and explore: (i) What product innovations have been implemented by Revolut in regard to the customers’ access to financial markets? (ii) How does Revolut compete with other challenger banks and traditional financial institutions? (iii) What are socio-economic consequences of innovations introduced by challenger banks? (iv) What is the legal formula of Revolut's operations? From the perspective of management theory, the study identifies the mechanisms of developing and implementing innovations in the financial sector, in the context of digital transformation and the changes in legal regulations. 2022-03-09T04:02:28Z 2022-03-09T04:02:28Z 2022-03-08T10:10:15Z 2022 chapter https://library.oapen.org/handle/20.500.12657/53250 9780367558345 9780367558406 https://directory.doabooks.org/handle/20.500.12854/79272 eng open access image/jpeg image/jpeg image/jpeg image/jpeg Attribution-NonCommercial-NoDerivatives 4.0 International Attribution-NonCommercial-NoDerivatives 4.0 International Attribution-NonCommercial-NoDerivatives 4.0 International Attribution-NonCommercial-NoDerivatives 4.0 International https://library.oapen.org/bitstream/20.500.12657/53250/1/9781003095354_10.4324_9781003095354_10.pdf https://library.oapen.org/bitstream/20.500.12657/53250/1/9781003095354_10.4324_9781003095354_10.pdf https://library.oapen.org/bitstream/20.500.12657/53250/1/9781003095354_10.4324_9781003095354_10.pdf https://library.oapen.org/bitstream/20.500.12657/53250/1/9781003095354_10.4324_9781003095354_10.pdf Taylor & Francis Routledge 10.4324/9781003095354-5 10.4324/9781003095354-5 fa69b019-f4ee-4979-8d42-c6b6c476b5f0 The Digitalization of Financial Markets Uniwersytet Mikolaja Kopernika w Toruniu 405ca504-bdcb-41c2-aa6e-2af19926a275 9780367558345 9780367558406 Routledge 20 open access |
| spellingShingle | bond markets; digital financial markets; digital financial markets; Digitalization of Financial Markets; financial institutions; financial markets; financial technologies; FinTech; ICT impact financial markets; information and communication technologies; stock markets thema EDItEUR::K Economics, Finance, Business and Management::KF Finance and accounting::KFF Finance and the finance industry::KFFK Banking thema EDItEUR::K Economics, Finance, Business and Management::KJ Business and Management::KJD Business innovation thema EDItEUR::K Economics, Finance, Business and Management::KJ Business and Management::KJE E-commerce: business aspects thema EDItEUR::K Economics, Finance, Business and Management::KC Economics thema EDItEUR::K Economics, Finance, Business and Management::KC Economics::KCB Macroeconomics thema EDItEUR::K Economics, Finance, Business and Management::KF Finance and accounting::KFF Finance and the finance industry thema EDItEUR::K Economics, Finance, Business and Management::KC Economics::KCB Macroeconomics::KCBM Monetary economics Polasik, Michal Widawski, Paweł Lis, Andrzej Chapter 10 Challenger bank as a new digital form of providing financial services to retail customers in the EU Internal Market |
| title | Chapter 10 Challenger bank as a new digital form of providing financial services to retail customers in the EU Internal Market |
| title_full | Chapter 10 Challenger bank as a new digital form of providing financial services to retail customers in the EU Internal Market |
| title_fullStr | Chapter 10 Challenger bank as a new digital form of providing financial services to retail customers in the EU Internal Market |
| title_full_unstemmed | Chapter 10 Challenger bank as a new digital form of providing financial services to retail customers in the EU Internal Market |
| title_short | Chapter 10 Challenger bank as a new digital form of providing financial services to retail customers in the EU Internal Market |
| title_sort | chapter 10 challenger bank as a new digital form of providing financial services to retail customers in the eu internal market |
| topic | bond markets; digital financial markets; digital financial markets; Digitalization of Financial Markets; financial institutions; financial markets; financial technologies; FinTech; ICT impact financial markets; information and communication technologies; stock markets thema EDItEUR::K Economics, Finance, Business and Management::KF Finance and accounting::KFF Finance and the finance industry::KFFK Banking thema EDItEUR::K Economics, Finance, Business and Management::KJ Business and Management::KJD Business innovation thema EDItEUR::K Economics, Finance, Business and Management::KJ Business and Management::KJE E-commerce: business aspects thema EDItEUR::K Economics, Finance, Business and Management::KC Economics thema EDItEUR::K Economics, Finance, Business and Management::KC Economics::KCB Macroeconomics thema EDItEUR::K Economics, Finance, Business and Management::KF Finance and accounting::KFF Finance and the finance industry thema EDItEUR::K Economics, Finance, Business and Management::KC Economics::KCB Macroeconomics::KCBM Monetary economics |
| topic_facet | bond markets; digital financial markets; digital financial markets; Digitalization of Financial Markets; financial institutions; financial markets; financial technologies; FinTech; ICT impact financial markets; information and communication technologies; stock markets thema EDItEUR::K Economics, Finance, Business and Management::KF Finance and accounting::KFF Finance and the finance industry::KFFK Banking thema EDItEUR::K Economics, Finance, Business and Management::KJ Business and Management::KJD Business innovation thema EDItEUR::K Economics, Finance, Business and Management::KJ Business and Management::KJE E-commerce: business aspects thema EDItEUR::K Economics, Finance, Business and Management::KC Economics thema EDItEUR::K Economics, Finance, Business and Management::KC Economics::KCB Macroeconomics thema EDItEUR::K Economics, Finance, Business and Management::KF Finance and accounting::KFF Finance and the finance industry thema EDItEUR::K Economics, Finance, Business and Management::KC Economics::KCB Macroeconomics::KCBM Monetary economics |
| url | https://library.oapen.org/handle/20.500.12657/53250 |
| work_keys_str_mv | AT polasikmichal chapter10challengerbankasanewdigitalformofprovidingfinancialservicestoretailcustomersintheeuinternalmarket AT widawskipaweł chapter10challengerbankasanewdigitalformofprovidingfinancialservicestoretailcustomersintheeuinternalmarket AT lisandrzej chapter10challengerbankasanewdigitalformofprovidingfinancialservicestoretailcustomersintheeuinternalmarket |