Democratizing Finance

Provides a detailed account of the economic and social impacts of financial innovations…We recommend this book to readers…who aspire to comprehend contemporary disruptive innovations in finance and the impact of these innovations on the wider economy. – Kirti Sood and Simarjeet Singh * Journal of Evolutionary Economics *The authors clearly state the roles and responsibilities of governments—again, particularly in developing countries—to promote democracy, but argue that fintech offers a real possibility for changing the world as we know it. This book broadens the vision of fintech’s future and unfurls the democratic potential it might have. * Choice *Much is being written about fintech; little about how it may transform our lives. Based on new research, Laboure and Deffrennes explain how fintech will create new possibilities for people in advanced and low-income countries alike. – Mervyn King, former Governor of the Bank of EnglandLaboure and Deffrennes highlight the growing importance of financial inclusion and technology. With a wealth of data and case studies, this book demystifies fintech and explains its role in democratizing finance. – Christian Sewing, CEO of Deutsche BankFinancial services are to the economy what the nervous system is to the human body. Fintech is profoundly changing our economy and our lives. This important book is necessary reading for anyone who cares about the future of our economy or our society. – Lawrence H. Summers, Charles W. Eliot Professor and President Emeritus, Harvard UniversityA panoramic view of the rapidly changing world of digital finance and money, Democratizing Finance spans a remarkable range of issues with clarity and depth, and provides an excellent primer on the social and economic aspects of rapidly-evolving fintech. – Kenneth Rogoff, Harvard University

Marion Laboure is a Senior Economist at Deutsche Bank in London and Lecturer at Harvard University. She has extensive private sector, public policy, and monetary policy experience, including at the European Commission, the IMF, the Luxembourg Central Bank, and Barclays. She received first prize from the American Society of Actuaries, Revue Banque nominated her as a rising star in finance, and Business Insider named her a cryptocurrency mastermind.

Nicolas Deffrennes is a consultant, investor, entrepreneur, and lecturer. He is the founder of Le Grand Verre, an e-commerce platform for wine. As a venture capitalist, he helped to create the Aldermore Bank in London and also worked on digital, technological, and banking projects across Europe, Africa, North America, and Asia for McKinsey & Company.