은행 IT투자 해부- 動因 과 含意 (22-12-9)/Nicola Pierri 外.IMF
=지난20년간 미국은행의 IT투자는 6배증가했지만 핀테크도전에 대응해서 대형은행중심으로 투자증가폭이컸음
핀테크의 대출행태는 비은행금융기관과 비슷한 양상을 보였지만 대형은행/핀테크 공히 IT정보를 바탕으로 저소득층에 대한 대출을 확대해왔으며 은행IT투자는 금융정책에 대한 반응성을 보여준다.=
The Anatomy of Banks’ IT Investments: Drivers and Implications
This paper relies on administrative data to study determinants and implications of US banks’ Information Technology (IT) investments, which have increased six-fold over two decades.
Large and small banks had similar IT expenses a decade ago.
Since then, large banks sharply increased their spending, especially those which were more exposed to competition from fintech lenders.
Other local-level and bank-level factors, such as county income and bank income sources, also contribute to explain the heterogeneity in IT investments.
Analysis of the mortgage market reveals that fintechs’ lending behavior is more similar to that of non-bank financial intermediaries rather than IT-savvy banks, suggesting that factors other than technology are responsible for the differences between banks and other lenders.
However, both IT-savvy banks and fintech lend to lower income borrowers, pointing towards benefits for financial inclusion from higher IT adoption.
Banks’ IT investments are also shown to matter for the responsiveness of bank lending to monetary policy.
IT Adoption; Fintech Competition; Financial Inclusion; Monetary Policy