Academic papers urge fintechs to put purpose above profit
The rise of fintech companies in Australia hasn’t been examined in any rigorous way by academics – until now.
The Australian Centre for Financial Studies at Monash University has published four long and detailed academic papers on fintech, written by some of the country’s leading corporate academics.
It’s a timely discourse, given growing questions about the high cost of fintech business lending and whether the touted benefits of technological innovations like blockchain will be realised in financial services.
The research has been supported by Treasury, the Reserve Bank and the Australian Securities and Investments Commission; financial services heavyweights Westpac and Suncorp; law firm K&L Gates; and FinTech Australia, the government’s FinTech Advisory Group and Stone & Chalk.
The papers form the final stage of a big research project known as ‘Funding Australia’s Future’, which the Australian Centre for Financial Studies initiated in 2012. It contributed some of the initial academic firepower to the financial system inquiry.
The four papers, available on the ACFS website, are:
- A framework to contextualise fintech and its value for Australia, by Monash University professor Rodney Maddock and David Link, a former managing director of Accenture;
- Cryptocurrencies, institutions and trust, by John Vaz and Kym Brown from the Monash Business School;
- The impact of international policy and regulation on growth in fintech, by Deborah Cope from PIRAC Economics; and
- Innovation and fintech policy: post-Murray developments, by Melbourne University professor Kevin Davis, who was a member of the financial system inquiry.
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Source: Academic papers urge fintechs to put purpose above profit | afr.com
