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Banking on a Revolution – Why Financial Technology Won't Save a Broken System - Oxford Scholarship Online
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Banking on a Revolution: Why Financial Technology Won't Save a Broken System

Terri Friedline

Abstract

Technological advancements are poised to completely transform the financial system, making it unrecognizable in just a few short decades. Banks are increasingly using financial technologies, or “fintech,” to deliver products and services and maximize their profits. Technology enthusiasts and some consumer advocates laude fintech for its potential to expand access to banking and finance. If history is any indication, however, fintech stands to reinforce digital forms of redlining and enable banks’ continued racialized exploitation of Black and Brown communities. Banking on a Revolution takes th ... More

Keywords: fintech, financial technologies, financialization, banks, redlining, racism, racial capitalism, finance, social movements

Bibliographic Information

Print publication date: 2021 Print ISBN-13: 9780190944131
Published to Oxford Scholarship Online: December 2020 DOI:10.1093/oso/9780190944131.001.0001

Authors

Affiliations are at time of print publication.

Terri Friedline, author
Associate Professor of Social Work, University of Michigan