This paper reveals how the automatising of protocols ignited a public conflict between Dutch banks and their Small and Medium-sized Enterprise (SME) clients in the years after the Global Financial Crisis. The bank’s “infirmary departments” for Financial Restructuring and Recovery (FR&R) were accused of (mal)treating SMEs. The conflict resulted in no formal regulatory or legal change despite public support. Instead, the banks created self-regulation to improve communication with SMEs, leading to shifts in governing FR&R for SMEs. This way, the banks mitigated significant negative symptoms of automation and solved the conflict with the SMEs while keeping FR&R and ongoing automation intact. The research uses an interdisciplinary analytical framework to understand national financial conflicts in a digitalised (business) world. It contributes to the theory of institutionalising values in discursive contests between action fields. The paper highlights the material and causes of normative conflicts of interest among critical actors in established public-private networks through discourse analysis and process tracing.
Directe invloed van de staat op het beleid van banken is blijvend nodig om deze sector weer maatschappelijk gezond te maken. Jan Zonneveld en Frank Jan de Graaf brengen de zegenende invloed van 'staatskapitalisme' voor banken over de afgelopen tien jaar in kaart. Het gaat dan om winst op punten als corporate governance, vervulling van maatschappelijke taken, compliance en ethische kwesties.
LINK
Being a hub and a hotspot for many people from all over the world means that new dynamics have entered Amsterdam and other cities in the last few years. Money flows pass through the city, and we often do not know anymore whose money this is, where it comes from or where it goes. At the same time, the development of cryptocurrencies and parallel money cultures all contribute to the opaqueness of the future of the financial world.To better understand the current dynamics that will affect our financial future, the City of Amsterdam has taken the initiative to organize an international conference in collaboration with the Institute of Network Cultures from the Amsterdam University of Applied Science: Flying Money – Investigating illicit Financial Flows in the City.This publication contains the results of the conference, along with relevant academic and other articles ensuing from the conference.
MULTIFILE
