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|z 9781513519258
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|a 1018-5941
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|a BD-DhAAL
|c BD-DhAAL
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|a Pierri, Nicola.
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|a Tech in Fin before FinTech :
|b Blessing or Curse for Financial Stability? /
|c Nicola Pierri, Yannick Timmer.
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|a Washington, D.C. :
|b International Monetary Fund,
|c 2020.
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|a 1 online resource (43 pages)
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|a IMF Working Papers
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|a <strong>Off-Campus Access:</strong> No User ID or Password Required
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|a <strong>On-Campus Access:</strong> No User ID or Password Required
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|a Electronic access restricted to authorized BRAC University faculty, staff and students
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|a Motivated by the world-wide surge of FinTech lending, we analyze the implications of lenders' information technology adoption for financial stability. We estimate bank-level intensity of IT adoption before the global financial crisis using a novel dataset that provides information on hardware used in US commercial bank branches after mapping them to their parent bank. We find that higher intensity of IT-adoption led to significantly lower non-performing loans when the crisis hit: banks with a one standard deviation higher IT-adoption experienced 10% lower non-performing loans. High-IT-adoption banks were not less exposed to the crisis through their geographical footprint, business model, funding sources, or other observable characteristics. Loan-level analysis indicates that high-IT-adoption banks originated mortgages with better performance and did not offload low-quality loans. We apply a simple text-analysis algorithm to the biographies of top executives and find that banks led by more 'tech-oriented' managers adopted IT more intensively and experienced lower non-performing loans during the crisis. Our results suggest that technology adoption in lending can enhance financial stability through the production of more resilient loans.
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|a Mode of access: Internet
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|a Timmer, Yannick.
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|a IMF Working Papers; Working Paper ;
|v No. 2020/014
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|z Full text available on IMF
|u http://elibrary.imf.org/view/journals/001/2020/014/001.2020.issue-014-en.xml
|z IMF e-Library
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