Innovation, Competition and Regulation in the Market for Online Banking Services

Marianne Verdier * CRED (Centre de recherches en économie et droit), Université Paris 2 Panthéon-Assas ; CERNA (Centre d'économie industrielle), École des Mines de Paris. Contact :'auteur remercie Jean-Michel Pailhon pour ses commentaires et suggestions.

The development of online banking services impacts competition in retail banking markets. Several non-banks (mobile network operators, merchants, start-ups, platforms) have started to offer payment services, to act as intermediaries between lenders and borrowers or to collect financial data about consumers. Regulatory authorities have therefore adapted the existing legal framework to encourage entry, while protecting consumers from the various risks that could emerge in the market. This article surveys the links between innovation, competition and regulation in the market for online banking services.

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