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Academic Lecture:The Rise of Fintech: What does the Future of UK banking look like?

TopicThe Rise of Fintech: What does the Future of UK banking look like?

SpeakerRobert M. Webb, Professor, University of Stirling 

TimeApril 8, 2022 (Friday) 16:00-17:30

Virtual PlatformTencent Meeting ID 476607688  

OrganizersSchool of Business Administration, Office of International Exchange and Cooperation, Research Office


Speaker’s Profile:

Robert Michael Webb is a full professor at University of Stirling, associate dean of Global Engagement & Recruitment at Stirling Management School where he teaches Bank Theory, Operations and Risk Measurement & Management in Banking currently. He used to teach Bank Financial Risk: Measurement and Management, Managing Risk in Financial Institutions, Understanding the UK Economy and Macroeconomics, etc.

Professor Webb has already published nearly 30 articles in internationally recognized journals such as Journal of Operational Risk, Journal of Risk Research, and Journal of Business Ethics, and books as well. From 1993-2019, he taught at Middlesex University, Glasgow Caledonian University, and the University of Nottingham.


Lecture Preview

UK and European retail banking is always in shake-up and yet nothing ever changes. There have definitely been tweaks over the years here and there to processes, and the branches have been refurbished as banks tried to convince us that they were the best bank to trust with our money. But largely the same banks have remained in place, give or take a few failures. The banking industry is a perfect example of what William Baumol called an ‘uncontestable market’, which is a market with strong barriers and high entry costs which puts off potential entrants, protects incumbents and allows banks to earn abnormal profits (and easily eat up any competition). This comes about because banks deal with intangible products where problems of asymmetric information abound, reputation and trust are key and lots of capital and a banking license are required. In the UK, the largest 5 banks own about 80% of the deposit markets. However, for the first time in post-war retail banking history the large retail banks are being forced to go to the battle with a bigger, wealthier, more flexible, more recognizable and ubiquitous foe – this is no small challenger bank that they can easily acquire and bring into their fold.



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date:2022/04/01

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