Financial Technology

The financial industry has witnessed the so-called “fintech revolution” in recent years. Due to the emergence of information technologies such as cloud computing, big data, blockchain and artificial intelligence, the landscape of the traditional financial industry has been largely transformed. The interplay between finance and technology has resulted in various new forms of financial services and products, like online P2P lending, digital-based banking, insurtech, bitcoin as well as the burgeoning mobile payment sector. Alipay, the mobile payment service arm of the Ant Financial Services Group (hereafter referred to as Ant Financial), is a perfect example to illustrate the ongoing fintech revolution and how it is disrupting the conventional retail banking model and payment industry. This article aims to introduce and analyse the world’s largest mobile payment system as well as some of the regulatory challenges it poses. It attempts to offer some guidance for legal practitioners in banking and finance, in particular, the multi-billion dollar fintech sector.

Key points:
- Backed by the e-commerce giant Alibaba, Alipay has become the world’s largest mobile payment system. Together with Wechat Pay, they dominate China’s $5.7trn mobile payment sector. Alipay has a presence in over 70 countries including the UK, US, Japan, South Korea and Australia.
- Due to the popularisation of mobile payment facilities, many Chinese cities have become a cashless (and cardless) society, as 40% of Chinese people carry almost no cash when going out.
- Alipay relies on the Quick Response code (or QR code) technology, in contrast to the Near Field Communication (NFC) adopted by competitors like Apple Pay.
- Mobile payments and fintech have provoked debate as to legal and regulatory issues such as the regulatory approval regime, data protection, fund security and fintech financing. Most recently, China has set up a unified clearing house for all mobile payment service providers to strengthen the industry supervision.

‫التقنيات‬ ‫المالية‬ ‫وتطبيقاتها‬ ‫في‬ ‫اإلسال‬ ‫المالية‬ ‫الصناعة‬ ‫مية‬ 2019 ‫التقنيات‬ ‫المالية‬ ‫وتطبيقاتها‬ ‫في‬ ‫اإلسال‬ ‫المالية‬ ‫الصناعة‬ ‫مية‬ 2019 ‫التقنيات‬ ‫المالية‬ ‫وتطبيقاتها‬ ‫في‬ ‫اإلسال‬ ‫المالية‬ ‫الصناعة‬ ‫مية‬ 2019 ‫التقنيات‬ ‫المالية‬ ‫وتطبيقاتها‬ ‫في‬ ‫اإلسال‬ ‫المالية‬ ‫الصناعة‬ ‫مية‬ 2019 ‫اﻻﺳﻼﻣﻴﺔ‬ ‫اﻟﻤﺎﻟﻴﺔ‬ ‫اﻟﺼﻨﺎﻋﺔ‬ ‫ﻓﻲ‬ ‫ﺗﻄﺒﻴﻘﺎﺗﻬﺎ‬ ‫و‬ ‫اﻟﻤﺎﻟﻴﺔ‬ ‫اﻟﺘﻘﻨﻴﺎت‬ 1 © ‫العربي‬ ‫النقد‬ ‫صندوق‬ 2019 ‫محفوظة‬ ‫الطبع‬ ‫حقوق‬ ‫أعضاء‬ ‫يعد‬ ‫القدرات‬ ‫وبناء‬ ‫التدريب‬ ‫معهد‬ ‫العرب‬ ‫النقد‬ ‫بصندوق‬ ‫األخرى‬ ‫الفنية‬ ‫الدوائر‬ ‫وأعضاء‬ ‫دراسات‬ ‫ي‬ ‫الصندو‬ ‫يصدرها‬ ‫بحثية،‬ ‫وأوراقا‬ ‫اقتصادية،‬ ‫هذه‬ ‫تتناول‬ ‫االنترنت.‬ ‫بشبكة‬ ‫الرسمي‬ ‫موقعه‬ ‫على‬ ‫وينشرها‬ ‫ق‬ ‫تتعلق‬ ‫قضايا‬ ‫اإلصدارات‬ ‫على‬ ‫وانعكاساتها‬ ‫المال‬ ‫وأسواق‬ ‫والتجارية‬ ‫والمالية‬ ‫والمصرفية‬ ‫النقدية‬ ‫بالسياسات‬ ‫االقتصادات‬ ‫العربية.‬ ‫األ‬ ‫أو‬ ‫اات‬ ‫الدراسا‬ ‫هذه‬ ‫في‬ ‫الواردة‬ ‫اآلراء‬ ‫وةهة‬ ‫ارورة‬ ‫بالضا‬ ‫تمثل‬ ‫ال‬ ‫البحثية‬ ‫وراق‬ ‫العربي،‬ ‫النقد‬ ‫اندوق‬ ‫صا‬ ‫نظر‬ ‫م‬ ‫نظر‬ ‫وةهة‬ ‫عن‬ ‫معبرة‬ ‫وتبقى‬ ‫الدراسة.‬ ‫عد‬ ‫موافقة‬ ‫دو‬ ‫ااااورة‬ ‫صا‬ ‫بن‬ ‫صبعها‬ ‫اعادة‬ ‫أو‬ ‫ترةمتها‬ ‫أو‬ ‫ااااة‬ ‫الدراسا‬ ‫هذه‬ ‫من‬ ‫ء‬ ‫ة‬ ‫أ‬ ‫اقتباج‬ ‫أو‬ ‫ااااا‬ ‫نسا‬ ‫يجوز‬ ‫ال‬ ‫صااااندوق‬ ‫من‬ ‫خطية‬ ‫النقد‬ ‫بارن‬ ‫القصااااير‬ ‫االقتباج‬ ‫حاالت‬ ‫في‬ ‫اال‬ ‫العربي،‬ ‫النقد‬ ‫ذكر‬ ‫وةوب‬ ‫مع‬ ‫والتحليل،‬ ‫المصدر.‬ ‫التالي:‬ ‫العنوا‬ ‫الى‬ ‫المراسالت‬ ‫ةميع‬ ‫توةه‬ ‫القدرات‬ ‫وبناء‬ ‫التدريب‬ ‫معهد‬ ‫العربي‬ ‫النقد‬ ‫صندوق‬ ‫ص.ب.‬ 2818 -‫ظبي‬ ‫أبو‬ -‫المتحدة‬ ‫العربية‬ ‫اإلمارات‬ ‫دولة‬ ‫هاتف:‬ 97126171761 + ‫االلكتروني:‬ ‫البريد‬ d.org.ae EPI@amfa https://www.amf.org.ae/ar Website:

Finansal Teknolojiler, aslında bir konsept olarak online alışverişin başlamasıyla 2000’li yılların başında ortaya çıkmaya ve 2008 Finansal Krizi ile önem kazanmaya başlamıştır. Kimse o günlerde bunu “finansal teknoloji” olarak adlandırılabileceğini belki de düşünmüyordu. Ancak alışverişin doğal bir sonucu olan ödemenin yapılması gerektiği noktada online ödemeler gündeme gelmeye başladı. Online alışverişin yaygınlaşması ise, müşteri açısından online ortamda güvenli ödemenin yapılmasını gerektiriyordu. Dolayısıyla müşterilerin, banka veya banka dışı ödemeye aracılık eden ve teknoloji yoğun kanallar ile bu dünyaya girmeye başladığını görmeye başladık.
Günümüzde ise Finansal Teknoloji alanı sadece bankacılık veya ödeme sistemleri değil, paranın gündeme geldiği birçok alanı kapsayacak şekilde genişlemeye başladı. Kısaca FinTech ve InsurTech olarak literatüre girmiş olan bu alanlar, bankacılık ve sigortacılık sektöründe önemli değişimlere neden olmuştur. Hem müşteri davranışının ve hem de kurumların müşteri istek ve ihtiyaçlarını giderme konusunda değişimini gerektiren bu kavramlar, günümüzde inovasyon ve inovasyonu etkin şekilde kullanan FinTech ve InsurTech girişimlerinin karşımıza çıkmasına neden olmuştur. Dolayısıyla, bir yandan sektörlerin dönüşümü ve bir yandan da makroekonomik açıdan dönüşümlerin yaşanmaya başlandığı bir döneme girmiş olduk. Özellikle finansa erişimin ve kapsayıcılığın, Birleşmiş Milletler’in Sürdürülebilir Kalkınma Amaçları arasında yer alması ve bunun da en etkin biçimde finansal teknolojiler ve bu alanda yaşanan inovasyonla gerçekleşebileceği görüldüğünde, konunun önemi daha da artmış oldu. Buradan da anlaşılabileceği gibi aslında çok boyutlu bir bakış açısıyla değerlendirilebilecek küresel bir konu karşımıza çıktı.

Kitabın Amacı ve Kapsamı
Finansal Hizmetler Sektörü dünyanın en büyük ve en önemli sektörlerinden biri. Aynı zamanda teknolojideki, ekonomideki, toplumdaki ve regülasyonlardaki gelişmelerle en hızlı değişim gösteren sektörlerden de biri durumunda. Bu durum, sektörün birçok yıkıcı gelişmeye de açık olduğunu da göstermekte. Müşteri istek, ihtiyaç ve beklentilerindeki değişimler ve bunun karşılığında bu istek, ihtiyaç ve beklentileri karşılayan yapıların buluşması, ortaya eşi benzeri görüşmemiş bir inovasyon sahnesinin kurulmasına ve bu sahnede teknoloji ve regülasyon eşliğinde dans eden birçok girişimin (startup) ortaya çıkmasına neden olmuştur. Bu sahne o kadar ışıltılı ve dinamik bir sahne ki, etrafında kendisine alkış tutan ve hatta onlarla birlikte dans eden birçok destekleyiciyi (yatırımcılar) de çekmekte. Finansal Hizmetler Sektörünün en önemli oyuncularından olan bankalar, sigorta şirketleri, sermaye piyasası kuruluşları ve diğer finansal kuruluşları da düşündüğümüzde, konunun kapsam ve derinlik olarak ne kadar önemli olduğu ve dünya üzerinde makro ve mikro düzeyde ne kadar büyük bir kitleyi etkilediği kolaylıkla anlaşılabilir.
Finansal teknolojiler konusunda bir kitap çalışması yapmak uzun zamandır aklımda olan bir projeydi. Ancak konu birçok alanı kestiğinden, birçok farklı uzmanlık gerektirdiğinden, kolay bir proje olmayacağı da ortadaydı. Şunu da çok iyi biliyordum ki, bu tür hızlı değişen, dinamik şartlara sahip alanlarda bir kitap ortaya çıkarttığınızda hızlı biçimde güncelliğini yitirecekti. Ülkemizde Finansal Teknolojiler alanında yaşanan gelişmeleri açıkçası beni biraz daha umutlandırdı ve bir yerden başlama konusundaki cesaretimi artırdı. Dolayısıyla bu kitap çalışması ile dünyadaki ve ülkemizdeki gelişmeleri ortaya koymaya çalıştım.
Tahmin edilebileceği gibi, bu kadar geniş bir konuyu kaleme almak hiç de kolay olmadı. Genelde bu konular çeşitli kaynaklarda ayrı ayrı ele alınmakta ve her biri kendi kulvarında incelenmekteydi. Oysa bu kitapta FinTech ve InsurTech konuları birlikte ele alınmaya çalışıldı. Çünkü her iki konunun da birbirleri ile zaman zaman iç içe geçen ve doğal olarak zaman zaman da ayrışan kapsamları bulunmaktaydı. Bu kitabın okuyucu açısından en ilginç özelliği, her iki konuyu da benzerlik ve farklılıkları ile aynı kaynakta ele alması ve bankacılık ile sigortacılık sektörleri arasında finansal teknoloji ve inovasyon bağlamında bir köprü kurabilmeye çalışmasıdır.
Finansal teknolojiler konusu akademik anlamda da ilgi görerek hızla popülerlik kazanmıştır. Birçok üniversite, konuyu ders programlarının içine dahil etmeye başlamıştır. Gerek üniversitelerde verdiğim derslerde ve gerekse eğitimlerde, en önemli eksikliğin kaynak eksikliği olduğunu düşünmüşümdür. Dolayısıyla bu kitabın,  ülkemizde bu alanda eğitim veren birçok kurum için önemli bir açığı kapatması düşünülmektedir.
Kitabın hedef kitlesini sadece akademi olarak değerlendirmek doğru olmayacaktır. Gerek bankacılık ve gerekse sigortacılık alanında, sektörel anlamda konuları, bu derinlikte ele alan yerli bir kaynak bulmak oldukça zordur. Dolayısıyla ülkemizde hem akademik ve hem de sektörel anlamda bir açığı kapatması açısından kitabın önemli olduğu düşünülmektedir.

Kitabın İçeriği ve Stratejik Bir Model Önerisi
Bu kitapta tüm bilgi ve deneyimimizi ortaya koyarak, bankacılık, sigortacılık ve sermaye piyasaları gibi finansal hizmetler sektörünün geleceğini şekillendirecek gelişmeleri, konu uzmanlarının bakış açıları ile inceleyerek ekosistem paydaşlarına teknoloji, ekonomi, toplum, regülasyon ve strateji beşlisi çerçevesinde yapısal bir model sunarak, gerek örgütsel anlamda ve gerekse devlet düzeyinde kurumsal olarak stratejik kararların alınmasında ışık tutmayı amaçladık. Ancak bunu doğru bir kurguda ve mantıklı bir içerikle aktarmak gerekiyordu. İşin zor kısmı da buydu. “Basit güzeldir” yaklaşımıyla yola çıkılarak kitap beş bölüme ayrıldı. Bu bölümlerin içeriklerini aşağıdaki gibi özetlemek mümkün:
1. Finansal Hizmetlerde Dönüşümün ele alındığı birinci bölümde, FinTech ve InsurTech kavramları ve gelişimleri ele alındı. Sektöre yeni giren yeni nesil girişimlerin (startupların) yarattığı etkiler, fırsat ve tehdit penceresinden değerlendirilirken, her iki sektörde değer zincirini nasıl dönüştürdüklerini açıklamaya çalıştık.
2. İkinci bölüm ise, FinTech ve InsurTech alanında, gerek bir startupın, gerek bir kurumun ve gerekse devletlerin bu konularda bir strateji üretebilmek için ihtiyaç duyabilecekleri bakış açısını sunan ve üzerinde uzum zamandır çalıştığım modeli açıklayan en kapsamlı bölüm oldu. Burada bir bina inşa etme analojisini kullanarak, bu konularda bir stratejinin nasıl oluşturulabileceğini açıklamaya çalıştık. Bu modelde, sağlam bir bina inşa edebilmek için gereken temellerle başladık. Bunlar: ilk olarak bir kolaylaştırıcı olarak “Teknoloji”; bu teknolojiyi kullanacak ve talebi yaratan “Toplum”; bu toplumun içinde yaşadığı ve toplumu yönlendirici role sahip “Ekonomi”; ve bu alanda oyunun kuralını belirleyen “Regülasyon” olarak belirlendi. Bu dört unsur, modeli ayakta tutacak temeller olarak kullanılacak. Bu dört temelin üzerine “Strateji”yi kuracağız. Stratejinin önemli özellikleri olan yapı, kültür ve düşünme biçiminin nasıl şekillenmesi gerektiğini, bu şekilde modelleyerek açıklamaya çalışacağız. Modelin her bir parçası, doğal olarak bu bölümün alt bölümlerini oluşturdu.
3. Üçüncü bölümde, FinTech ve InsurTech yapılarının sağlıklı biçimde doğmalarını ve büyümelerini sağlayan ekosistemler ve özellikleri açıklanacak. Burada bir ekosistemin önemli parçalarını oluşturan unsurlar ve aralarındaki ilişkilerin nasıl olması gerektiği stratejik bir bakış açısıyla değerlendirilecek. Dünyada kendini kabul ettirmiş FinTech Merkezleri incelenerek, Türkiye’nin bölgesel bir Finansal Teknoloji Merkezi olma yolunda da önemli noktalara vurgu yapılacak.
4. Dördüncü bölümde, bu alanın olmazsa olmazı olan ve her ekosistemde önemli bir yere sahip olan girişimleri ve girişimciliği değerlendireceğiz. FinTech ve InsurTech alanında bir girişimin nasıl kurulabileceği, bu süreçte kuluçka ve hızlandırma merkezlerinin rolleri, İş Modeli Tasarımında dikkat edilmesi gereken konular, girişimlerin büyümesi ve büyüme ile birlikte gelen Birleşme ve Satın Alma süreçleri ve bu girişimlerin Kamu ile İlişkileri bu bölümün alt bölümlerini oluşturmakta.
5. Beşinci bölüm ise, Dijital Finansın Geleceğini tartıştığımız bölüm. Bu bölümde Merkeziyetsiz Finans (DeFi) gibi son derece popüler konulardan başlayıp, ülkemizde son dönemde regülasyonla gündeme gelen Dijital Bankaların yapıları ve iş modelleri, TechFin’in bu alandaki rolü, InsurTech konusundaki eleştiriler ve gelecek beklentileri, Birleşmiş Milletler’in Kalkınma Amaçları içerisinde Finansal Teknolojilerin yeri, bu alanda nasıl Eğitim Tasarımı yapılabileceği, Bilgi Güvenliği ve Etik gibi son dönem gündemde olan konuları tartışacağız.

The underdeveloped financial system, large unbanked population, and rising mobile penetration rate in Bangladesh have ignited the development of innovative digital finance solutions. The increasing demand for Mobile Financial Services and other digital banking services has amplified Fintech adoption in Bangladesh. Thus, this paper aimed to assess the significant determinants of Fintech adoption by Bangladeshi households using a modified UTAUT2 model. Drawing on data collected from 481 Fintech users, CFA, and CV-SEM approaches were employed to classify the significant determinants concerning Fintech adoption in Bangladesh and a Multi-group analysis was performed to explore the moderating role of categorical variables. Although our findings reported insignificance of most of the UTAUT2 model's constructs, it revealed a significant impact of price value and moderating impact of gender, age, and education on Fintech adoption in Bangladeshi context. The findings reported significant insights on the pertinent theory which added new knowledge to the existent Fintech adoption literature. Since this is the first research on Fintech adoption in Bangladeshi context, it would have important theoretical, managerial, and policy implications.

As smartphones become ever more integrated in people’s lives, a burgeoning new area of research has emerged on their well-being effects. We propose that disparate strands of research and apparently contradictory findings can be integrated under three basic hypotheses, positing that smartphones influence well-being by (1) replacing other activities (displacement hypothesis), (2) interfering with concurrent activities (interference hypothesis), and (3) affording access to information and activities that would otherwise be unavailable (complementarity hypothesis). Using this framework, we highlight methodological issues and go beyond net effects to examine how and when phones boost versus hurt well-being. We examine both psychological and contextual mediators and moderators of the effects, thus outlining an agenda for future research.

The integration of the financial industry and financial technology (Fintech) plays a pivotal role in increasing financial services reach and inclusion for the large unbanked population in Indonesia. Fintech adoption optimization expands the financial access to formal financial institutions, especially to vulnerable groups such as the unbanked population who predominantly reside in rural areas far from formal financial institutions. Fintech is viewed as a game changer to bring finance to the unreached communities via information technology and digital financial landscape. In this causal research, data collection was done via online questionnaires to 485 Fintech users between December 2020 and April 2021. Data analysis and path modelling was performed using smartPLS 3.0 software. Result shows user innovativeness as a significant predictor, directly and indirectly affecting the adoption of Fintech in Indonesia, while user attitude found the most important factor towards Fintech adoptio...

Mein Beitrag widmet sich einer Medienpraktik, die ohne komplexe soziotechnische Arrangements und weitreichende kulturelle Selbstverständigungen über wechselseitiges Vertrauen nicht auskommen kann. Die Rede ist vom Bezahlen, also dem vermeintlich selbstverständlichen alltäglichen Tausch von Zeichen, deren Deckung und Wert auf selten explizit gemachten sozialen Konventionen und auf einem meist staatlich garantierten Gelten von Währungen beruht. Genauer: Es geht im Folgenden um die Zahlung mit Kreditkarten, die durch den Auf bau entsprechender Datennetze seit den 1960er Jahren eine der frühesten digitalisierten Medienpraktiken des Alltags darstellt. Aktuell erfährt sie durch neue Zahlungspraktiken per Smartphone eine Transformation, die ein verlässliches Internet der Dinge als Interaktionsgrundlage voraussetzt. Die orts-und situationsabhängigen Medienpraktiken des Bezahlens setzen auf »Ketten von Mittlern«  und vernetzte Buchhaltungen, die einen auf wechsel-seitigem Vertrauen beruhenden Transfer von ökonomisch codierten Zeichen in Gang setzen, prüfen und validieren. Folgt man der Geschichte der Zahlungsinteraktionen, erscheint das Internet der Dinge nicht als neu, sondern steht in der Tradition digitaler Systeme, die für spezialisierte Anwendungen im Bank- und Finanzbereich entwickelt worden sind.

This report aims to study how recent technological disruptions have affected the Singapore consumers’ decision-making process when purchasing insurance. It also examines the role that an insurance agent/adviser plays and the implications on marketing and branding of insurance companies.

New financial technologies (FinTech) may not represent a new era for sustainable development-at least not as currently conceived. Many of the gains espoused by the UN and other cheerleaders come from rebranding the online equivalents of traditional savings, investment and tax payment activities. Most of these claims have no supporting evidence, beyond ad hoc anecdotes and stories. The existing evidence hardly forms a reliable basis for the very specific technologies and services recommended by the international organizations. We show that abstract and nebulous advice on changing countries' payments, banking, securities, and others' laws helps explain why such advice will likely have little effect on promoting financial inclusion, saving, and mobile payments.

Many SACCOS in Tanzania face problems of poor management, embezzlement, lack of working capital, high loan delinquency rates and poor business practices. Poor management and lack of commitment has resulted in many SACCOS having high levels of Non-Performing Loans (NPL) hence threatening their survival.The challenges facing MFIs and SACCOS in managing their credit portfolio prompted us to develop a web based financial and credit management system called SACCO MIS in 2014. The system developed was built on open source core, is capable of managing SACCOS and MFI revenue, expenditure, members’ contributions, shares as well as bookkeeping and loan processing.

The fourth industrial revolution presents technologies as the key of development for businesses and societies overall. The digitalization of business models, financial services and products has led to the development of Financial Technologies, also known as FinTech. Technology driven transformation and Fintech have assisted financial companies to better understand and service their customers, while bridging the gender gaps that have existed in financial account usage.

The availability of complex financial services through various digital channels (such as social media, internet platforms, mobile, bots and etc) has made banking more overall more inclusive.

The first section of the paper examines Fintech and reviews research on its possible effects on the financial inclusivity. While, the second part of the work observes Georgian banking sector's usage of Financial Technologies and analyzes some of available financial service usage statistics (among women) in the country and globally.

This article examines issues concerning regulation of virtual currencies around the world and highlights some lessons that Tanzania can learn in the process of setting up the regime for regulating virtual currencies. The article shows that the revolution in financial technologies, which forms part of the 4 th Industrial Revolution, has resulted in, among other things, the invention of virtual currencies. There has been the proliferation of virtual currencies both in industrialized nations and developing countries. Authorities and regulators around the world are pondering over setting up mechanisms to regulate virtual currencies. It is apparent that regulating virtual currencies-and other aspects of financial technologies-is a complex matter that involves cross-cutting issues that should be considered. The article recommends that authorities in Tanzania should carefully consider and integrate all those matters in order to come up with the framework for regulating virtual currencies.

Many SACCOS in Tanzania face problems of poor management, embezzlement, lack of working capital, high loan delinquency rates and poor business practices. Poor management and lack of commitment has resulted in many SACCOS having high levels of Non-Performing Loans (NPL) hence threatening their survival.The challenges facing MFIs and SACCOS in managing their credit portfolio prompted us to develop a web based financial and credit management system called SACCO MIS in 2014. The system developed was built on open source core, is capable of managing SACCOS and MFI revenue, expenditure, members’ contributions, shares as well as bookkeeping and loan processing.

This study aims to analyze what criteria are used by Venture Capital (VC) firms to value Indonesian tech startups as high-flyer investments. We define high-flyer investment here as start-ups projected to generate return five times or more than its initial investment. We evaluated what criteria are considered more important than the others by VC's. Research carried out on variables that considered as main aspects evaluated by VC firms are: company, product, and market factors. We used mixed qualitative and quantitative primary data collected through questionnaires for quantitative data and interviews for qualitative data. Logistic regression results revealed that companies with product performance passed the minimum viable product (MVP) phase have a significant chance to value as high-flyer investment compared to those who offer products or services that are not market-proven yet. Sequential qualitative interview findings indicate VC preferences for companies that are fast followers over the pioneers and also suggest that the founder, or human-related aspect, is a critical factor in investment decisions made by VCs.

Financial technology, commonly used the term as FinTech, is a key emerging driver of inclusive finance. This is also one of the emerging issues of finance as well as financial research. This research is done with the purpose of showing the present status of China’s FinTech in inclusive finance development. In addition, the study raises regional disparity and critical issues related to the inclusive development. A secondary data analysis methods are systematically carried out to demonstrate the present situation of internet finance in the development of inclusive finance in China, as well as the developing status of different provinces through internet finance. The ultimate finding of this research is that, despite significant development in China’s financial system, there is still a development inequality between the most and least developed regions. This study also identifies some important issues that should be taken care of by the policy makers. This research is done from authent...

Dunia finansial semakin berkembang dari tahun ke tahun, termasuk dengan teknologi yang diaplikasikan di dalamnya. Teknologi tersebut membantu mempermudah segala transaksi finansial yang dilakukan nasabah atau konsumen. Teknologi itu juga membuat proses inklusi dan literasi finansial menjadi lebih mudah, terutama untuk suatu negara yang belum tinggi pemahaman masyarakatnya terhadap finansial. Teknologi yang digunakan dalam bidang finansial secara khusus disebut financial technology (fintech). Kemajuan fintech akan menentukan seberapa sophisticated-nya dunia finansial di masa depan. Bahkan bisa saja ke depannya uang elektronik atau digital yang akan digunakan secara penuh untuk bertransaksi. Indonesia telah masuk ke dalam jajaran negara-negara mobile-first, dengan konsumsi data melalui ponsel pintar (smart phone) dan perangkat selular lainnya melampaui data melalui broadband (wired network). Hal ini mendorong gelombang start-up financial technology (fintech) yang mengembangkan situs-situs pembanding, pengelolaan keuangan pribadi (personal financial management), aplikasi pinjaman dan investasi, pembayaran peer-topeer (P2P) dan solusi korporat. Lembaga-lembaga keuangan pun membuka diri terhadap teknologi digital dan mulai menawarkan produk dan layanan keuangan berbasis teknologi (Fintech) Kata kunci — Finance Technology (Fintech), Elektronik, peer-topeer (P2P)

Digital transformation creates challenges in all industries and business sectors. The development of digital transformation has also clearly triggered the emergence of fintech (financial technology) initiatives, which are recognized as some of the most important innovations in the financial industry. These initiatives are developing rapidly, driven in part by the sharing economy, regulations, and information technology. However, research in the field of fintech remains in its infancy. Fintech offers several services, such as funding, payment (including electronic wallets), e-aggregators, e-trading, and e-insurance, and cryptocurrencies such as Bitcoin. This provides an opportunity to more closely examine fintech's research challenges and trends. This study aims to (1) determine the state of the art of financial technology research; (2) identify gaps in the financial technology research field; and (3) identify challenges and trends for future research potential. The novel proposal in this study includes theoretical contributions regarding financial technology. Using the systematic literature review approach of Kitchenham, in addition to thematic analysis, meta-analysis and observation to validate the quality of literature and analysis, the results of this study provide a theoretical basis fintech research from an information systems perspective, including the formulation of fintech technology concepts and their development.

Abstract
This research aims to study a structure of digital banking, including commercial bank employee perspectives, performance impact and adaptability for understanding employee perspectives and to develop an approach of management, were studied by using qualitative research. Data was gathered from internal bank documents and semi-structured in-depth interviews with branch managers, customer service officers (CSOs) and marketing officers (MOs)who are employed in banks in Chiang Mai, Thailand.
As a result, the digital banking provided customers convenience which saving money and time were the most influential aspects of customer service. Digital banking effected a change of commercial banks work policies and developed products and services to be more connected. However, the number of branches also declined due to decreasing of customers visiting branches, so employees had to change work processes and developed knowledge and skills especially in digital technology. Moreover, professional licenses to handle with digital banking services as financial advisors.

Plianpairoj, P. and Sorakraikitikul, M. (2019). Commercial Banking Employee Perspectives and Adaptability in the Digital Banking Age. Burapha Journal of Business Management Burapha University, 8(1), 62-80. (in Thai)

Innovation and Technology have guided a radical change in traditional financial services. Now, Technology seems an essential keyfor the growth of digital economy. Over the year’s Indian banks and financial service providers have cautiously adopted technology to augment reach to the customers, provide services to and operational efficiency with growing market and technological advances. But still, the momentum of technology adoption is not equivalent toits potential. Accordingly, there are gaps in the realization of financial services.Traditional Banks and Financial Institutions have noticed technology as a potential to empower the business propositions, rather than originating new business propositions themselves. Financial Technology (FinTech) Companies however are modifying that role by gratifying digital technologies to establish new business propositions and target new market segments which precedently were not possible. Even, RBI is enabling the development of fintech sector to multiply the reach of banking services for unbanked population.
FinTech is the legitimate sight in the utilization of technology to offer new financial products and services to new market segments in an economically feasible manner. From a business model perspective, the FinTech sector is manifest by technology companies that either attempt to disintermediate, or partner with incumbent Banks and Financial Institutions confide in on strategic account and market landscape. Hence, FinTech is progressively becoming a foremost center of attraction for all the key stakeholders in India’s Financial Services industry – Regulators, Traditional Banks, NBFCs, Payment Banks, Investors, Payment Service Providers, Broking and Wealth Management Companies, Insurance providers and pure play FinTech players. So, the impetus of this paper is to confer about various facets of Fintech in India.

Keywords: Technology, financial, economy, digital, services

What effect will new laws regulating financial technologies (FinTech) have on sustainable development -- and particular the sustainable development goal (SDG) scores in the developing world? In this paper, we provide the first rigorous analysis of the literature predicting how FinTech might affect the SDGs. To test these effects, we use cross-country regression on a proxy of the quality/quantity of FinTech law, FinTech credit and select SDG sub-indicators which likely reflect the whole goal. We find -- if the past helps predict the future -- that FinTech legislating will have limited impact on the SDGs dealing with economic growth. New rules could have a larger impact on social and environmental outcomes, if laws and supporting public procurements are explicitly written with such outcomes in mind. In either case, government will still likely play a determining role. FinTech policy will likely exhibit the same U-shaped effect on sustainable development as other policies and practices dealing with the accumulation of capital. If the slate of SDG-related laws in the US in 2021/2022 risk doing too little, the EU’s buffet of sustainable finance law risks doing too much. We look at these laws in light of our findings.

The emerge beginning of financial technology or fintech startup was founded by one or several startup founders. How did a startup founder start until the fintech startup was established? This paper is aimed at addressing this problem, which is the beginning of the founding of fintech startups by technopreneurs, the intention behind them to establish a fintech startup. The research method of this paper is a literature review by taking cases from several Indonesian startup fintech companies. Data is taken from various sources, especially from online references. Data analysis from the literature through an investigation of the topics discussed. This study will reveal the behavior history of technopreneurs before establishing his or her business. This paper is a valuable finding for researchers as well as people who are interested in the field of entrepreneurship, technopreneur, and startup, especially the early history and pre-founding behavior of fintech startup from technopreneurs.

There is a growing Financial Technology (Fintech) business model, such as Peer to Peer (P2P) Lending. P2P Lending allows individuals and businesses to borrow and lend money to each other. In its development, China has become the market with the most P2P lending platforms. However, there is a moral hazard that makes this business need to be monitored. This threat begins with verification of the borrower's data that is not appropriate. Whereas in Indonesia Fintech P2P Lending has received special attention, because its regulations and policies have not matured yet. Besides, P2P Lending is considered as a new business to flourish. Consequently, it requires investigation on problems from the implementation of the P2P Lending. This study aims to identify problems in P2P Lending and present alternative technical and non-technical solutions to the problems. By implementing the Kitchenham Systematic Literature Review (SLR) approach from the ACM, AIS, IEEE, SCOPUS, and Science Direct databases, this research finds a rich picture, creates a table of problem identification and alternative solutions.

The current human resource management (HR) and brand marketing (Employer Branding) issues are recruiting and retention approaches that 'involve internally and externally encourage a clear vision of what makes a business different and attractive as a business. Sampling is done using probability sampling techniques, namely sampling techniques that provide equal opportunity or opportunity for each member of the population to be selected as a sample. This method is carried out when members of the population are considered homogeneous to financial technology stratups employees. The results of this study explain that there are several important factors that can affect employee retention at financial technology stratups companies, one of which is compensation and recognition which have a significant effect on employee retention. Motivation is the variable that has the greatest influence on employee retention, apart from having a direct effect on motivation, motivation has also succeeded in being a mediator between compensation for employee retention and recognition of employee retention.

This paper aims to interrogate existing FinTech regulations in Nigeria, extract the challenges of the budding industry and illuminate on prospects with the underlying aim of proffering sublime, practical recommendations towards the optimal harnessing of immense potentials inherent in the industry, currently left untapped as a result of sparse and disharmonized regulations.

Fintech pada umumnya bertujuan untuk menarik konsumen dengan memberikan  produk serta layananyang lebih user friendly, efisien, transparan, dan otomatis jika dibandingkan dengan produk atau layanan yang tersedia saat ini.
FinTech menggambarkan sebuah industri bagi perusahaan-perusahaan yang menggunakan teknologi untuk membuat sistem keuangan menjadi lebih efisien. FinTech adalah sebuah segmen dari dunia startup yang memiliki fokus untuk memaksimalkan penggunaan teknologi guna mengubah, mempercepat atau mempertajam berbagai aspek dari layanan keuangan yang tersedia saat ini. Mulai dari metode pembayaran, transfer dana, pinjaman, pengumpulandana, hingga pengelolaan aset.

Рассмотрено развитие современных финансовых отношений в условиях стремительной интернационализации и технологизации и растущей неопределенности финансового рынка. С позиций гуманитарной экономики и гуманитарных финансов проанализированы факторы неопределенности рынка, включая иррациональное поведение инвесторов и явление симметрии заблуждений. Предложена концепция экспоненциально масштабируемых событий как основа методики преодоления негативных последствий неопределенности. Даны практические рекомендации в области принятия инвестиционных решений с использованием возможностей, которые предоставляют процессы цифровизации и интеллектуализации финансовых операций.
Экстерриториальность форм и методов регулирования финансового рынка. Для специалистов в области финансового рынка, ученых, аспирантов и студентов, обучающихся по экономическим направлениям. Книга будет полезна индивидуальным и институциональным инвесторам, а также сотрудникам органов власти и управления, занимающимся вопросами рыночного регулирования.

Nigeria is part of the countries that have enlisted the use of fintech to achieve financial inclusion. In this paper, fintech and financial inclusion are examined. Further, Commercial Banking, Investment Banking and Insurance Offerings are examined as key areas demonstrating the impact of fintech on financial inclusion in Nigeria.

This thesis proposes a framework for the economic analysis of cryptocurrencies as a form of money, and applies it on the case of Bitcoin. The framework has two distinct pillars: 1) a quantitative analysis of time series behavior in comparison to a benchmark portfolio of fiat currencies, and 2) a qualitative assessment of money functions and currency design. As an application of this framework, the full history of Bitcoin was analyzed. All known USD-based Bitcoin exchanges were mined of their data to create the longest possible times series for the trade-weighted BTC/USD price. Using this data, daily log returns were calculated for a similarity/dissimilarity analysis with 23 foreign exchange pairs, and distribution fitting was conducted for identifying the risk profile of Bitcoin. It was found that Bitcoin is highly dissimilar to the forex market, and it has a non-normal distribution. A statistical model was also built for explaining Bitcoin’s volatility with its inherent properties, such as the hash rate, the money supply, the transaction volume or the number of unique addresses. The model demonstrated that one-third of Bitcoin’s volatility can be explained. These results, along with a qualitative assessment of design, showed that as Bitcoin ages, it may become less volatile, and thus better able to fulfill the core functions of money. This suggests that cryptocurrencies, such as Bitcoin, need more time to mature.

For the last decade, emergence of Fintechs caught the attention of everyone: Individuals working in the financial sector because Fintechs started to become serious competitors, investors and everyone else who received some sort of financial service from a financial institution. With a success this big, it is no surprise that Fintechs were put under a microscope to understand their unique business models, strengths, and weaknesses. While there are certain studies that explore the success of Fintechs, there aren't many that focus on how Fintechs can maintain this success, or how they could achieve it in the first place. In an effort to fill that gap, this article aims at exploring how a Fintech can achieve full sustainability to maintain its success and growth. To provide a framework, this paper takes Elkington's Three Bottom Lines of Sustainability and evaluates Fintechs' ability to fulfill each line. It concludes that due to their business models Fintechs hold certain advantages in the social and environment lines, while they need to pay attention to the value and the quality of their offered insights to fulfill the economic line.

Saat ini perkembangan teknologi finansial sangat pesat, kebutuhan pinjaman keuangan dari para pengusaha di Indonesia meningkat setiap tahunnya. Untuk dapat memberikan layanan pinjaman keuangan dibutuhkan persyaratan administrasi yang banyak jika berpatokan pada aturan Bank. Penggunaan teknologi baru dibutuhkan untuk memudahkan para pengusaha untuk memudahkan serta mempercepat proses bisnisnya. Atas dasar hal tersebut finansial teknologi hadir, untuk memudahkan para pelaku usaha mempercepat mendapatkan modal usaha. Saat ini sudah banyak model teknologi finansial yang ada di Indonesia. Hal tersebut untuk memenuhi kebutuhan masyarakat terkait kebutuhan pinjaman modal usaha. Dengan tingginya kebutuhan finansial teknologi, maka banyak timbul perusahaan finansial teknologi di Indonesia untuk menangkap peluang bisnis tersebut. Dengan banyaknya perusahaan yang bersaing, maka dibutuhkan juga strategi bisnis untuk memenangkan persaingan tersebut. Dalam penyusunan strategi tersebut biasa digunakan metode TOWS Matrik. TOWS Matrik secara umum biasa digunakan perusahaan untuk melihat kekuatan dan kelemahan serta peluang dan ancaman terhadap perusahaan, agar dapat ditentukan strategi yag tepat dalam meakukan persaingan bisnis.

Kata kunci :Kebutuhan Pinjaman Keuangan Finansial Teknologi TOWS Matrik

Cash has still been the preferred payment method of the Filipino majority—amounting to 51.3% of the population; while there were only 7.1% that prefer using mobile phone or app payments (TheNerve, 2019). Despite the cash-heavy transactions of the country, a recent report from Oliver Wyman, an international management consulting firm, forecasts a gradual decrease of transaction share of cash but a steady increase of transaction share of e-money from 2018 to 2022 (Woods, George, & Pardiwalla, 2018) and TheNerve (2019) noted this as a 116% compound annual growth rate. This can be seen in the aforementioned 2018 3rd quarter Financial Inclusion report by BSP (2018) which noted a growth of 6 million pesos (or 9.2%) in inflow transactions and 18 million pesos (or 6%) in outflow transactions from 2016 to 2017. The motivation for innovation in the e-Money industry can be attributed to the power of the consumers as they are the primary users of the technology and ultimately, their adoption would dictate the success or failure of the innovation. Although it is also relevant to point that merchant adoption and the whole ecosystem may also influence the motivation for innovation, in the end, consumer adoption would still outweigh the other. Numerous researches have focused on studying consumer adoption to identify the antecedents or drivers that influence technological adoption by consumers. Studies concluded that consumer adoption factors of e-Money technology are security, cost, convenience, characteristics of mobile service provider, characteristics of mobile payment vendor, characteristics of mobile technology, disposition of trust, and disposition of culture. These factors provide basis to the development of radical or incremental innovations in the e-Money industry. The high mobile penetration and tech-savviness of Filipinos also makes the Philippines a mobile money innovation hub. GSMA noted that the dramatic rise in smartphone adoption has been one of the factors in the increasing adoption of Filipinos (Pasti, 2019) despite the country’s lagging Internet speed. The e-money has several use cases that drive its economic forces across the country’s economy. It ranges from airtime load top-up, bills payment, online shopping, transportation payment, insurance payment, ticket purchase, social media payments, QR code payment, NFC payment, e-money transfer, to B2C payment (Miroshnichenko, 2015). A survey report conducted by TheNerve (2019) accounted online shopping as the top use case of e-money; followed by bills payment and e-money transfer. Moreover, GSMA listed “domestic remittance needs” as one of the six primary conditions that contributed to the development of e-money in the Philippines (Hasnain, 2016). The development of this condition is due to the common Filipino practice wherein the breadwinner of the family goes to a highly urbanized region, like Metro Manila, and regularly sends money back to his/her home province (TheNerve, 2019). GSMA (2016) also highlighted the low banking penetration as another driver of e-money in the Philippines. In 2017, the banked penetration rate stands at 34.5%. This means that 70 million or 65% of the Filipinos are still unbanked—a large avenue to drive financial inclusion through e-money. The introduction of e-Money technology like G-Cash and Smart Money in the early 2000s in itself was a radical innovation and could possibly become a threat to banking and credit card technology. This technology fosters financial inclusion in the market as it taps both the banked and unbanked users. One doesn’t need a bank account in order to use e-Money as it utilizes a user’s mobile phone through SIM-based remittances and micro-payments, making use of a vast network of agents, such as sari-sari stores, to facilitate the cash- in and cash-out transactions. Incremental innovations have thereafter followed with the introduction of phone applications or ‘apps’ that complement this technology by allowing users to monitor their balances, pay bills and even remit money (P2P) on their own through the apps. The move for e-Money providers to transform into the ultimate lifestyle super app also encourages incremental innovation in terms of apps’ program and features. This new model is when existing apps branch out to other services apart from their initial intended service. A prime example would be Grab, which started as a ride-hailing app and has recently expanded their services to courier and food delivery. Competitors dominate the e-money market by having the following characteristics: have existing partnerships, have an existing customer base, can be easily integrated in other platforms, have little to no transaction, convenience or additional fees, and offer rewards, incentives, or rebates. Alternatives for mobile phones as storage devices for e-Money are also being introduced in the market. Biochips are devices embedded in a person’s body, often under the skin, which stores your e-Money, train…

In recent years, there is a noticeable increase of cashless transactions due to the development of financial technology. As a result of being expansion of fintech products such as e-wallet, consumers are shifting from cash-based to cashless. Young adult consumers in 21st century are regarded as tech-savvy as they were born in the era of smartphone technology. This study aims to examine the influencing factors for Malaysian young adults to use e-wallet as a payment method by applying extended technology acceptance model (TAM). Total of 330 data were collected from the users of e-wallet in the area of Klang Valley of Malaysia and analyzed by deploying partial least squares structural equation modeling (PLS-SEM). By applying two-step approach for instance, measurement model for indicator loadings, convergent validity, reliability and structural model for path analysis the findings from this study reveal that perceived usefulness, perceived ease of use and privacy and security have positive and significant relationship with behavioral intention to use e-wallet. This study helps the service providers of the digital marketplace further to have better understanding of the usefulness of using e-wallet for transaction purposes.

Data-driven technologies and platform economies have been widely employed by Chinese companies in a variety of business sectors. In the past decade, these digital applications have profoundly restructured economic development and power relations in Chinese society. This article examines how the promotions of fintech media and communication technologies for transactions, loans, investments and many other financial practices–engender and enlarge Alibaba’s digital financial platform, Ant Financial, the largest digital financial company in China. From a political economy of communication perspective, we consider Ant Financial as a product of data-centric corporate convergence in which fintech media have extracted user data from Alibaba’s e-commerce and digital payment platforms and utilized this data to drive Alibaba’s growth in financial businesses. The consolidation of multiple platforms has transformed financial industries, challenged policy and regulatory regimes, and reshaped the cultures of finance in China. The convergence paradigm underpins the digital, technology-driven logic facilitated by the state in resource allocation and policy-making. The government’s supportive role is a vital condition for the rise of Chinese fintech giants such as Baidu Finance, Ant Financial, Tencent Finance, and Jingdong Finance.

Perkembangan teknologi membuat kehidupan di zaman sekarang menjadi sangat mudah. Perkembangan teknologi informasi dan komunikasi merata di segala bidang, tak terkecuali berdampak pada bidang pembayaran. Keberadaan fintech bertujuan untuk membuat masyarakat lebih mudah mengakses produk-produk keuangan, mempermudah transaksi dan juga meningkatkan literasi keuangan. Digital Payment e-money merupakan salah satu produk fintech yang digunakan oelh masyarakat Indonesia sebagai alat pembayaran masa kini. Kemunculan e-money masyarakat yang bertujuan untuk mengurangi tingkat pertumbuhan penggunaan uang tunai. Dikhususkan untuk pembayaran-pembayaran yang bersifat mikro dan ritel. Fenomena e-money sebagai digital payment telah menjadi trend yang mewarnai aktivitas bisnis. Dengan memanfaatkan teknologi, software, internet, komunikasi dan komputasi terkini membuat e-money semakin dibutuhkan masyarakat dengan kesibukan yang luar biasa. Bertransaksi menjadi lebih mudah dan cepat membuat digital payment e-money makin digemari di Indonesia.

Kata Kunci : E-money, Digital Payment, Financial Technology

This study examined the effects of exchange rate volatility on financial performance of deposit money banks in Nigeria. The objectives of the study are to: assess the extent to which exchange rate volatility affects return on capital employed (ROCE) of selected deposit money banks in Nigeria and establish the extent to which exchange rate volatility affects return on asset (ROA) of selected deposit money banks in Nigeria. The study made use of ex-post facto research design. Secondary data were collected and used for the study. The population size of the study is made up of all the 9 deposit money banks with international authorization and listed under the Nigerian Stock Exchange (NSE). According to Central Bank of Nigeria (2019), these banks are: Access Bank, Fidelity Bank, First Monument Bank, First Bank, Guaranty Trust Bank, Skye Bank (Now Polaris Bank), Union Bank, United Bank of Africa and Zenith Bank. The researcher made used of judgmental techniques in determination of the sample size of the study which is 5 firms (First Bank, Guaranty Trust Bank, Union Bank, United Bank of Africa and Zenith Bank). The study employed multivariate regression statistical technique to evaluate the differences in the observed values of the variables. The study found that exchange rate has no significant effect on Return on Assets and ROCE. Based on this finding, it was recommended that Government should formulate policies that will be very consistent in controlling or managing exchange rate volatilities, as exchange rate volatilities has the capacity of distorting labour rate and other cost of material inputs.

Before the pandemic spread, it was obvious Fintech would play a crucial role in financial services in the future, but the process was undoubtedly accelerated by the crisis caused by the COVID‑19. The study revealed technology companies profoundly invade into the value chain of financial services on a yearly basis while creating new market structures in developing countries where banking services are inadequate. The procedure has become a significant background for overcoming the pandemic setback. Implementation of investments in digital infrastructure has to be of initial importance on a contemporary stage, thus contributing to the improvement of the interaction of digital and non-digital economies for the population with less income comprising of self-employed households and representatives of SME in Georgian reality.

Financial Technology (FinTech) muncul seiring perubahan
gaya hidup masyarakat yang saat ini didominasi oleh
pengguna teknologi informasi tuntutan hidup yang serba
cepat. Dengan FinTech, permasalahan dalam transaksi
jual-beli dan pembayaran seperti tidak sempat mencari
barang ke tempat perbelanjaan, ke bank/ATM untuk
mentransfer dana, keengganan mengunjungi suatu tempat
karena pelayanan yang kurang menyenangkan dapat
diminimalkan. Dengan kata lain, FinTech membantu
transaksi jual beli dan sistem pembayaran menjadi lebih
efisien dan ekonomis namun tetap efektif.

Pengaruh nyata dari FinTech terhadap pebankan menjadi topik debat di kalangan akademis. Financial Technology (FinTech) adalah sektor baru dalam industri keuangan untuk operasi penyedia jasa keuangan dan interaksi penyedia jasa keuangan dengan klien. Di penelitian ini, kami menggunakan Ordinary Least Square (OLS) dengan data yang didapatkan dari The World Bank untuk menyelidiki pengaruh FinTech terhadap penggunaan Financial Account. Kami memutuskan untuk menggunakan standard error White yang telah memperhitungkan adanya heteroskedastisitas. Kami menyimpulkan bahwa FinTech mempunyai pengaruh positif terhadap penggunaan Financial Account.
Namun, dampak FinTech terhadap variabel-variabel tersebut bergantung pada kualitas regulasi suatu negara. Jika kualitas regulasi di Indonesia tetap buruk, maka penggunaan FinTech dapat mengurangi keuangan inklusi (Financial Inclusion) perbankan. Karena itu, Indonesia sebaiknya mendorong perbaikan kualitas regulasi negara agar dapat memperbaiki perekonomian Indonesia lewat Fintech.

Keyword : Fintech, Financial Account, Development, Education, Regulation Quality
dan Financial Inclusion

Stabilitas keuangan merupakan topik yang selalu berkembang dan menjadi perhatian banyak kalangan sejak krisis keuangan yang terjadi pada tingkat nasional maupun internasional beberapa tahun terakhir. Di penelitian ini, kami ingin melihat bagaimana peran sistem pembayaran dalam menjaga stabilitas sistem keuangan dengan penggunaan FinTech dan meminimalisir adanya kemungkinan risiko sistem pembayaran melalui BI-RTGS. Kami memutuskan menggunakan Ordinary Least Square (OLS) dengan data yang didapatkan dari The World Bank untuk menyelidiki pengaruh FinTech terhadap penggunaan Financial Account. Kami menyimpulkan bahwa FinTech mempunyai pengaruh positif terhadap penggunaan Financial Account dan dengan adanya FinTech dan BI-RTGS, tentunya akan menimbulkan sistem pembayaran yang efisien dan efektif sehingga stabilitas sistem keuangan terjaga dengan baik dan mengurangi resiko masalah moneter serta kesejahteraan (total welfare) dapat meningkat. Selain itu,  dapat berdampak positif pada kebijakan moneter terhadap sektor perbankan di Indonesia.


Key Word : Sistem Pembayaran, Financial Technology, Sektor Perbankan, BI-RGTS dan Stabilitas Keuangan

Transformation towards Financial technology makes possibilities throughout all areas of the economy for growth. Emerging developing economies have seen a fast expansion of financial technology and mobile money services. FinTech projects, which are regarded as some of the most significant advances in the financial sector, have also obviously been driven by the growth of digital transformation, as FinTech Mobile money and digital wallets address the economic infrastructure vacuum with an innovative technology solution and enable customers to conduct financial transactions affordably and dependably by eliminating spatial barriers, and can be used to bridge the gap of banked and unbanked. This paper investigates the critical success factors influencing the adoption of disruptive financial technology for financial inclusion in rural India. Present research empirically measures the impact of technology in promoting entrepreneurship in under-developed regions for future adoption of financial technology in rural areas. The quantitative approach uses inferential statistics for hypothesis testing. Exploratory Factor Analysis is being applied for critical factor identification and Structural Equation modeling for measuring the impact of FinTech in financial inclusion in Rural India. The result indicates that factors constructing the social influence also positively impact behavioural intention to use manager technology in the rural sector in India. An end-user habit of using financial technology systems and services has a positive relationship with behavioural intention. Factors affecting perceived ease of use towards using the financial technology are positively related to the system’s usability. Present work provides emerging good practices for policy-makers, regulators, and investors in changing financial environment. It presents empirical findings to identify the critical success factor and another growth driver for FinTech services. The results would help mobile service industry to discover an economy of scope in providing services at low cost and with maximum social benefits. Study will also provide insights to financial institutions for offering banking services via mobile to handle cross-border transactions to low-income customers of remote areas.

The Stock Market is known for its volatile and unstable nature. A particular stock could be thriving in one period and declining in the next. Stock traders make money from buying equity when they are at their lowest and selling when they are at their highest. The logical question would be: "What Causes Stock Prices To Change?". At the most fundamental level, the answer to this would be the demand and supply. In reality, there are many theories as to why stock prices fluctuate, but there is no generic theory that explains all, simply because not all stocks are identical, and one theory that may apply for today, may not necessarily apply for tomorrow. This paper covers various approaches taken to attempt to predict the stock market without extensive prior knowledge or experience in the subject area, highlighting the advantages and limitations of the different techniques such as regression and classification. We formulate both short term and long term predictions. Through experimentation we achieve 81% accuracy for future trend direction using classification, 0.0117 RMSE for next day price and 0.0613 RMSE for next day change in price using regression techniques. The results obtained in this paper are achieved using only historic prices and technical indicators. Various methods, tools and evaluation techniques will be assessed throughout the course of this paper, the result of this contributes as to which techniques will be selected and enhanced in the final artefact of a stock prediction model. Further work will be conducted utilising deep learning techniques to approach the problem. This paper will serve as a preliminary guide to researchers wishing to expose themselves to this area.