Journey of FinTechs in India From Evolution to Revolution

As digital, internet protocol and multi-media device technology develops, a view which distinguishes hard between communication infrastructure for individual communications and broadcasting infrastructure for mass communication that could be done clearly at analog era showed up. This means communication infrastructures are becoming less and less service specific, and can provide a range of services. In addition, new type of services are emerging which are difficult to classify in existing services and regulatory categories. In other words, there are issues which area this type of communication should be involved between broadcasting and communication area, or whether we have to create a third area that can adapt with economical relations. Such infrastructure convergence requires a fundamental review of regulatory regimes for broadcasting and telecommunications to ensure the constitutional value of guaranteeing mass communication function.BR The current debates, however, make me have a critical mind because they are just limited at the old way of technology and the definition itself of broadcasting as the standard for determining what is a broadcasting within the statutory meaning. but any legislative effort for defining or characterizing the new type of digital communication services should be directed toward an analysis of constitutional Perspective. Because the legislative effort should be within the limit of constitutional value order.BR With the point that can distinguish between individual communication and mass communication and with respect to way of use or function of electric wave-media infrastructures, I try to explain the constitutional value and each regulation system of individual communication based on telecommunication services and mass communication transmitted by broadcasting infrastructures. In other words, I want to confirm constitutional concept of way of future communication services with the developed technology and suppose to standard of constitutional protection area for new types of communication services like VOD.BR Therefore, the legislative efforts for digital based new type of communication in South Korea should reflect the concept of the actual and potential objects of electronic mass communication activities as opposed to the definition itself of broadcasting as the standard for determining which is a broadcasting within the traditional way of technology. In other words, the key to the legislative effort for defining the concept of new type of communication services based on electronic facilities or infrastructures will lie in how to have respective statutory conform to the nature of broadcasting as a mechanism for effective flow of information.BR The digitalisation, IP and the development of multimedia devices result in more competition between infrastructures. This raises questions regarding existing markets regulation with its ownership rules and requires regulatory reform. To answer these questions, I think, analysis specific and practical solutions based on the constitutional law about how to maintain diversity and form opinions required in broadcasting using frequency waves and also try to provide alternative plans to solve the problem of diversity for forming opinion in the field of mass communications.

Marketing activity of telecommunication companies of the Republic of Tajikistan in conditions of market relations development taking into account factors influencing this process has been investigated. Ways to increase the competitiveness of services provided and trends in the development of types of services that contribute to the effective use of existing networks of telecommunications companies have been studied. The functions of marketing service in the direction of analysis of trends of development of telecommunication market, including analysis of demand for new types of competitive services, are considered. Analysis and evaluation of the marketing activity efficiency for the introduction of new types of services was carried out, taking into account the capacity of existing networks of telecommunications companies. The dynamics of tariff revenues characterizing the provision of communication services of the regional national telecom operator of the Republic of Tajikistan was analyzed. Positive dynamics of growth of tariff revenues of individual branches of the national telecom operator of the Republic of Tajikistan providing services to provide access to the Internet using ADSL technology was noted. Fundamental and additional tasks, as well as general functions of marketing activities of telecommunication companies in market economy are considered. A method of comprehensive evaluation of the effectiveness of the marketing service of telecommunications companies has been proposed, which allows you to comprehensively evaluate marketing in three areas: financial results of marketing, organization of marketing, communication with consumers. This methodology is aimed at determining the results of the marketing service for each type of services provided separately, as a result of which it is possible to evaluate the costeffectiveness of providing a separate type of telecommunication services. We studied the work of other academic economists who studied marketing activities, as well as issues of assessing the effectiveness of services provided.

efficient financial institutions and markets could increase economic growth, and mutually, the financial sector should also reflect the economic indicators changes in real sector. In this study, impact of the banking, insurance and financial intermediation sector with an emphasis on value-added of financial and monetary institutions services on the capital market is examined. For this purpose, “TEPIX” and “financial index” as capital markets representative indices (the dependent variable) and Bayesian ARDL (BARDL) method based on Doan, Litterman and Sims prior and Buss (2010) is used in period of 1991-2018. The results show that monetary and financial institutions services in the short term could affect stock price index (“TEPIX” and “financial index”), therefore The short-term relationship between the banking, insurance and financial intermediation sector of economy and the financial sector (Stock Exchange market) is established but the statistical significance of this relationship in the long run is not approved and no feedback in stock price indices based on the changes in the banking, insurance and financial intermediation sector is observed. These results on one hand indicate a significant impact of monetary variables and tools such as liquidity and price inflation on the stock market, and on the other hand is a sign of weakness in the relationship between the banking, insurance and financial intermediation sector and the stock market. Therefore, it is suggested that in critical situations (with short-term targets), monetary and price tools used to adjust stock market but in contrast, by correction of structural flaws of Stock Exchange market, the context of short term and long-term impact of the banking, insurance and financial intermediation sector on stock indices will be provided.efficient financial institutions and markets could increase economic growth, and mutually, the financial sector should also reflect the economic indicators changes in real sector. In this study, impact of the banking, insurance and financial intermediation sector with an emphasis on value-added of financial and monetary institutions services on the capital market is examined. For this purpose, “TEPIX” and “financial index” as capital markets representative indices (the dependent variable) and Bayesian ARDL (BARDL) method based on Doan, Litterman and Sims prior and Buss (2010) is used in period of 1991-2018. The results show that monetary and financial institutions services in the short term could affect stock price index (“TEPIX” and “financial index”), therefore The short-term relationship between the banking, insurance and financial intermediation sector of economy and the financial sector (Stock Exchange market) is established but the statistical significance of this relationship in the long run is not approved and no feedback in stock price indices based on the changes in the banking, insurance and financial intermediation sector is observed. These results on one hand indicate a significant impact of monetary variables and tools such as liquidity and price inflation on the stock market, and on the other hand is a sign of weakness in the relationship between the banking, insurance and financial intermediation sector and the stock market. Therefore, it is suggested that in critical situations (with short-term targets), monetary and price tools used to adjust stock market but in contrast, by correction of structural flaws of Stock Exchange market, the context of short term and long-term impact of the banking, insurance and financial intermediation sector on stock indices will be provided.

The aim of this paper is to analyze the different types of communication services, requirements and applications related to 6G deployment, in accordance to those in 5G, and based on the definitions in the ITU recommendations. In this regard, the requirements for 6G and key performance indicators related to applications for 6G are described, arising from technological development. The results are related to obtaining summary information about the structures and features of the functioning of the various proposed communication services. Classification of the types of services in 6G has been made (new types of services in 6G, combined types of services in 6G (based on types of services in 5G), introduction of standard communication services to maintain potential scenarios for application in 6G communications). The contributions of the work are related to the in-depth analysis of the relationship between the type of services and defined requirements for 6G, presented in tabular form and conclusions are drawn.

The Sustainable Development Goals (SDGs) could be considered the paramount objective for all nations in the world. In keeping with this, a sound global financial system is now required to fulfill its mandate to encourage the mobilization of private capital for the achievement of sustainable development and consistent economic growth. Blockchain, the Internet of Things, big data, and artificial intelligence are just a few of the recent technological advancements that have been made possible by digital transformation and advancement, specifically in the finance sector. Traditional banks, regulators, and policymakers are all paying close attention to the buzz surrounding Fintech. Since the 2008 global financial crisis, the integration and innovation of emerging technologies and finance have accelerated financial technology development (FinTech). In this paper, we reviewed the literature on the evolution of Fintech in terms of regulations and policies, as well as the role of Fintech in achieving financial inclusion and sustainable development goals. We reviewed the fintech ecosystem and segregated it into three segments, from 2010-2015, 2016-2020, and 2021 to present. We have discussed the existing literature from the mentioned timeline and concluded that despite being surrounded by numerous challenges, the acceptance of Fintech has boomed over the period of time and created some new avenues for the future that support future sustainable international trade while also facilitating the SDGs.

The modern digital financial services market can be characterized as a set of classical credit and non-credit institutions with a range of financial products available to them with the latest innovative achievements of companies that are manufacturers of solutions in the field of digital financial assets.The improvement in the range of financial products and digital financial services provided is due to the very time in which the consumer is to resort to financial institutions as intermediaries in monetary transactions between counterparties.The latter circumstance is due to the development of mobile gadgets which provide customers' access to Internet banking without a personal visit to the bank's office.The development of new types of services and a line of financial products, in general, is caused by the growing competition of financial counterparties with each other, as well as with organizations that have not previously been involved in the provision of digital financial services.The subject of the research is economic and institutional relations arising in the process of providing potential and current consumers of financial services with new digital financial products, as well as the process of their regulation.The factor that significantly slows down the development of the digital financial sector is the lack of both domestic and foreign investment.Currently, only very large banks can allow the development of digital technologies planned for implementation in financial transactions.

The article examines the peculiarities of the processes of organizing regulation and supervision of the activities of institutions of the financial sector with the help of modern information, communication and digital technologies, an analysis of the practice of digital transformations in the financial sector based on the use of digital channels of financial customer service is carried out, the factors, conditions and problems preventing the introduction of new supervisory and regulatory technologies in Ukraine are identified. It is proven that the development of digital technologies in the financial sector has formed a fundamentally new approach to the interaction of financial institutions, consumers of financial services and regulators based on the creation and functioning of digital ecosystems. The factors that determine the need for the development and use of new supervisory and regulatory technologies and mechanisms are characterized, the main ones of which are the activation of the processes of digital transformation of the financial sector, the creation of digital financial institutions, the introduction of digital lending models, the transfer of certain types of activities to cloud services and the strengthening of interaction with decentralized financial markets. The conditions, advantages and disadvantages of using the complex of Suptech and Regtech digital technologies are determined, as well as the main results of their implementation for regulators and financial institutions, taking into account the prospects of further digitization of the financial sector. It has been proven that the main advantages of using Suptech and Regtech technologies are ensuring a high level of consolidation of information resources and effective digital interaction between regulators and financial institutions, simplifying the implementation of regulatory requirements, reducing administrative costs for their compliance, expanding the scope of supervision, simplifying the processes of preparation and reporting, increasing the effectiveness of risk monitoring and management. Recommendations for the introduction of new regulatory and supervisory technologies in the financial sector have been developed, a structural and logical scheme for the organization of regulation and supervision of the activities of financial institutions based on Regtech and Suptech technologies has been proposed, and the main areas of improvement of regulatory and supervisory mechanisms based on the use of such modern digital technologies have been identified as artificial intelligence, Big Data, cloud computing and machine learning in order to ensure the efficient and stable functioning and development of the financial sector of Ukraine.

The development of web 2.0 technologies since the mid-1990s has given a powerful new impetus to the growing trend of customers participating in the creation of services. Not only has it enabled this participation on a larger scale, it has also stimulated the development of a new type of service — one that integrates customers in the service creation process in ways never seen before. Customer service is now provided not by service providers alone but also by customers. Large numbers of customers are working for customers in a collaborative effort or, to be more precise, in large-scale collective action.KeywordsCollective ActionUser CommunityShared GoalOpen Source ProjectTravel BusinessThese keywords were added by machine and not by the authors. This process is experimental and the keywords may be updated as the learning algorithm improves.

By analysing the case of the Reuter Quarter in the inner-city Neukolln borough of Berlin, this paper addresses how urban artistic and cultural uses, e.g., retail stores and new types of services, could be a cause for the process of gentrification. The Reuter Quarter has been identified as an area in decline by the municipality, home to a high percentage of immigrants. However, since the mid-2000s, promoted by the publically financed Quartiersmanagement (neighbourhood management) and the Zwischennutzungsagentur (Temporary Use Agency), artists and eventually other creatives started to settle here, creating a positive image for the area and turning the district into a ‘cool place’ or a ‘place to be’. The area’s new attractiveness has led to the upgrading of buildings and the boosting of rent prices in and around the area. In the early stages, it resembled a positive revitalisation, but later the area became a ‘scene district’, well valued in the housing market, and facing rapid urban transformations: gentrification and touristification as a destination for nightlife tourists. This paper examines the significant role of artists within the gentrification process, especially in attracting new retail capital, new types of services, cafes, bars and restaurants, all of which stimulate touristification.

In this article, we describe the design of social media services in terms of service science. Applications of the social media are growing rapidly, and technology provides opportunities for new types of services. There is a lack of discussion of social media applications as services. In this article, we open this discussion and define a new type of service for social media, namely share with me-type of service, and propose a method of designing these types of services. We discuss a mobile social media design framework that could be used in designing user experiences and user activities for next generation mobile social media services. The model is based on existing models; such as activity theory (AT), Mobile Web 2.0 Ecosystem (MW2E) and on the idea of considering the shared felt experience as a central design rule. We believe that studying social media using a service science framework can support the creation of future service innovations in social media.

In recent years we can witness a new wave of activities and projects to explore different paths towards Next Generation Internet. After the decade where the Internet Protocol becomes mainstream in communication networks integrating and carrying all new types of services with increasing traffic volume and complexity, there are rising concerns whether the aging Internet protocol architecture with its underlying legacy routing algorithms, control and security mechanisms would soon collapse under the load of new applications and the rapid change of traffic patterns and service generation paradigms in the next decade. In the talk we will focus on trends and evolution paths towards the Next Generation Network. The talk will discuss these trends together with issues of system performance and stochastic scalability, which are current topics of intensive research. These issues are crucial to dimension networks and applications, both from network provider and equipment manufacturer viewpoints. Some observations on future services will commence the talk. It will discuss the notion of Multi-Network Services, i.e. the paradigm shift from a network-centric view to a applicationcentric view. In the current existence of several wireless and wireline networks (PSTN, UMTS, WiMAX, etc.) users of different networks can install service-enabling software and start a new type of service in a short time scale and in a very dynamic way (e.g. VoIP platforms like Skype, software distribution schemes like Bittorrent, etc.). Those services are multi-networks services, which correspond to the term of Edge-based Intelligence.

Application of new innovative digital technologies in commercial banks in a scientific article. A new approach to creating an innovative new type of Development of new banking products with high value for the client, which can satisfy the needs of clients, and elimination of "pains", that is, obstacles and solutions to problems that arise in the process of creating new products. Cases related to the theoretical basis of the organization of innovative activity in the packaging of new types of services "packaged", that is, in the process of purchasing one product, which allows the use of several new types of services in products with different prices, have been considered product, that is, introducing modern types of services that help customers meet their real needs.

With the development of the economy and the expansion of market capacity, companies that launching new types of the services need to conduct enterprise location in the newly developed market to serve the customers. In order to maximize the profit, companies should balance the rent and the customer flow volume, as well as service income and customers' waiting cost, which means that the companies should choose right places to provide service. When there are some competitors, optimal service rate should be set to keep the customers staying at the company to get service. In this paper, we use queuing theory to study location problem. A location model with changing arrival rate and an operation model with changing service rate are built. We characterize the optimal policies and discuss the impact of the parameters on the optimal policies. Numerical experiments are conducted to discuss the impact of the customers' patience to the optimal service rate.

The banking sector is the engine of the economic fabric of countries, so Algeria has worked on successive reforms, the latest of which was the issuance of the Monetary and Banking Law of 2023, as a strategy to diversify the banking operations of banks and financial institutions.The world of banking has witnessed a scientific transformation in terms of the dimensions and objectives of banks’ strategies in the last few decades. This was a logical result of the revolution of new technologies in media and communication and the globalization of the financial and banking markets. Perhaps this is what led banking institutions in particular and financial institutions in general to move towards providing a new type of services in line with what has become characteristic of the banking market. Hence, some believe that banks must develop their performance in line with the surrounding conditions, embodying this development in electronic banking. This study aims to understand the reality of electronic banking in Algeria and the mechanisms for its implementation.

The payment market of Ukraine has undergone significant changes in regulation in accordance with the Law of Ukraine "On Payment Services", which came into effect on August 1, 2022. As a result, instead of one payment service, the relevant law provides for ten payment services. Due to new types of services, the activities of payment service provider are going to vary and lead to different business models of activities. Consequently, there is a need to investigate the payment service in accordance with the Law of Ukraine "On Payment Services" as a separate object of legal regulation. The article examines the approaches to determining the nature of the term "service", and establishes which of the approaches is used in the payment service regulation. This article considers and systematizes payment services by different features. On the basis of features of the payment service, they could be categorized and can be identified as a separate object of legal regulation. These 10 new payment services are classified by the legislator according to different criteria, but at the same time they have one common feature: each payment service is directly or indirectly related to actions related to the transfer of money. Depending on the type of payment service, different requirements are applied to their provision in order to ensure the safety of the funds of clients of payment service providers. Payment service providers may also have different activity requirements that are proportionate to the risks inherent in a particular type of activity. With the help of a comparative analysis of scientific achievements and the legislation of Ukraine, as well as on the basis of isolated features of the payment service, it has been established whether it is possible to assert a separate regulation of the payment service. A definition of the term payment service is proposed, which can be used both in practical and academic areas.