Utilizing an innovative financial technology (FinTech) index based on media sources, we analyse the effects of FinTech adoption on bank liquidity creation for a sample of the top 300 United States banks from Q1 2015 to Q2 2021. Our findings reveal a consistent negative association between FinTech adoption and bank liquidity creation, even during the coronavirus disease (COVID-19) pandemic. This relationship remains robust after conducting multiple rigorous tests including propensity score matching and difference-in-differences tests to address endogeneity problems. Overall, these results underscore the transformative influence of FinTech on fundamental liquidity creation function within traditional banking.

我们利用基于媒体来源的创新金融科技 (FinTech) 指数，分析了 2015 年第一季度至 2021 年第二季度美国 300 家顶级银行样本中金融科技采用对银行流动性创造的影响。我们的研究结果表明，金融科技采用与银行流动性创造之间存在一致的负相关关系。即使在冠状病毒疾病 (COVID-19) 大流行期间，金融科技的采用和银行流动性的创造也是如此。在进行多项严格测试（包括倾向得分匹配和双重差异测试）以解决内生性问题后，这种关系仍然稳健。总体而言，这些结果强调了金融科技对传统银行业基本流动性创造功能的变革性影响。