TY - BOOK

T1 - Deploying, innovating, and disrupting—designing digital infrastructures for alternative financial systems

T2 - digital intermediary exchange ‘toolkit’

AU - Perry, Mark

AU - McKnight, John Carter

AU - Ferreira, Jennifer

AU - Fish, Adam Richard

PY - 2014

Y1 - 2014

N2 - The UK economy has a huge dependence on financial services, and this isincreasingly based on digital platforms. Innovation in consumer financialservices through the use of digital technologies is seen as increasinglyimportant for market growth, efficiency, and user empowerment. These newdigital solutions may allay an over-reliance on the traditional banking sector,which has proved itself to be unstable and risky, and we have seen anumber of national policy moves to encourage growth in this sector. Partlyas a result of the 2008 banking crisis, there has been an explosion indigitally-mediated peer-to-peer financial services for consumers, rather thanprofessional financial managers. Firms in this area act as intermediariesbetween users looking to trade goods or credit rather than as depositories orinvestors. Although their businesses are not always purely computer-based,these services are made possible through digital technologies that allowthese organisations to act as intermediaries between users looking to tradegoods or credit – we call these organisations ‘digital intermediaries’.However, building self-sustaining or profitable financial services within thisnovel space can be fraught with commercial, regulatory, technical and socialproblems.This document reports on how social, organisational and technicalinfrastructures augment and assist users and businesses in making financialdecisions, and how new technologies might change the use, utility andnature of this activity. To do this, we draw from the detailed analysis of casestudies carried out in two retail digital financial intermediary organisations:Zopa Limited and the Bristol Pound. Its purpose is to serve as a ‘toolkit’ forthose interested in the key issues impacting the design and use of innovativefinancial products.

AB - The UK economy has a huge dependence on financial services, and this isincreasingly based on digital platforms. Innovation in consumer financialservices through the use of digital technologies is seen as increasinglyimportant for market growth, efficiency, and user empowerment. These newdigital solutions may allay an over-reliance on the traditional banking sector,which has proved itself to be unstable and risky, and we have seen anumber of national policy moves to encourage growth in this sector. Partlyas a result of the 2008 banking crisis, there has been an explosion indigitally-mediated peer-to-peer financial services for consumers, rather thanprofessional financial managers. Firms in this area act as intermediariesbetween users looking to trade goods or credit rather than as depositories orinvestors. Although their businesses are not always purely computer-based,these services are made possible through digital technologies that allowthese organisations to act as intermediaries between users looking to tradegoods or credit – we call these organisations ‘digital intermediaries’.However, building self-sustaining or profitable financial services within thisnovel space can be fraught with commercial, regulatory, technical and socialproblems.This document reports on how social, organisational and technicalinfrastructures augment and assist users and businesses in making financialdecisions, and how new technologies might change the use, utility andnature of this activity. To do this, we draw from the detailed analysis of casestudies carried out in two retail digital financial intermediary organisations:Zopa Limited and the Bristol Pound. Its purpose is to serve as a ‘toolkit’ forthose interested in the key issues impacting the design and use of innovativefinancial products.

M3 - Commissioned report

BT - Deploying, innovating, and disrupting—designing digital infrastructures for alternative financial systems

PB - 3rd Party Dematerialisation and Rematerialisation of Capital

ER -