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Banking on a RevolutionWhy Financial Technology Won't Save a Broken System$
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Terri Friedline

Print publication date: 2021

Print ISBN-13: 9780190944131

Published to Oxford Scholarship Online: December 2020

DOI: 10.1093/oso/9780190944131.001.0001

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PRINTED FROM OXFORD SCHOLARSHIP ONLINE (oxford.universitypressscholarship.com). (c) Copyright Oxford University Press, 2021. All Rights Reserved. An individual user may print out a PDF of a single chapter of a monograph in OSO for personal use. date: 09 March 2021

Introduction

Introduction

Chapter:
(p.1) Introduction
Source:
Banking on a Revolution
Author(s):

Terri Friedline

Publisher:
Oxford University Press
DOI:10.1093/oso/9780190944131.003.0001

As the Introduction to Banking on a Revolution, this chapter summarizes recent technological advancements and their applications to banking and finance. Despite the potential for financial technologies, or “fintech,” to expand access to banking and finance, this chapter presents the challenges with fintech that can undermine a financial system revolution. For example, racism in the financial system is so common that it even has its own hashtag: #BankingWhileBlack. Without critical investigation of technological advancements and their potential for disparately impacting Black and Brown communities, fintech may further embed banks’ racialized exploitation, advance forms of financial surveillance, and confer advantages to whites.

Keywords:   fintech, financial technologies, financialization, banks, redlining, racism

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