From digital technologies to new economics in banking: how to drive the future of digital money and data information knowledge

The chapter aims to understand to what extent some factors, namely technology, regulation, customer habits, etc, are going to influence institutional changes and lead to economic and social consequences in the industry. This chapter is organized as follows: on the one hand, it offers insights on some of the hype storm words, such as digitalization, FinTechs, open banking, embedded finance, banking-as-a-service, and decentralized finance, that are creating a twisted picture of the digital banking industry (Section 3.2). On the other hand, by linking the dots, this chapter will outline the most interesting implications for the industry, incumbents, FinTech firms and those banks that have undertaken a deep strategic transformation (Sections 3.3 and 3.4). Finally, Section 3.5 presents the main conclusions.