Next-Gen Finance: The role of fintech in shaping a smarter more accessible financial world

This study seeks to develop an innovative infrastructure for digital wallets that addresses the diverse requirements of both corporate and individual users. The main focus is on real-time monitoring of users' interactions on digital asset management software and generating instant actions through the analysis of this data. In this context, the main objectives of the wallet include providing local solutions as an alternative to high transaction fees, ensuring that assets are securely stored on local cloud systems with digital wallets, and developing applications that will meet the needs of Financial Technology companies and its business partners. Thus, it is aimed to increase the security, efficiency, and cost-effectiveness of digital asset transactions and to improve the user experience in digital wallet use in general. As a result, this study aims to provide a comprehensive solution that aims to offer significant advantages such as security, usability, and cost-effectiveness in the field of digital asset management and storage. It is expected that this study will contribute significantly to the expansion of the digital wallet ecosystem and to users' experiences in digital asset management.

With the digital assets increase, Digital Asset Management (DAM) has become more crucial than ever before. DAM increases the efficiency of managing contents and helps maximize the value of content. This research through two case studies discovers the core elements necessary for effective DAM practice, including BBC Redux and The World Digital Library. Findings show that in selecting a DAM system, managing metadata and understanding user needs are the most necessary elements for effective DAM practice. In addition, this research highlights that in the process of DAM practice, every element interacts with the others. People still have to look at the DAM from a comprehensive perspective of a DAM ecosystem.

Purpose: This systematic review investigates the role of digital banking technologies such as mobile banking, digital wallets, AI-powered credit scoring, and blockchain technology in promoting financial inclusion from 2010 to 2024. The objective is to assess the impacts of these technologies on enhancing financial access, particularly for unbanked and underserved populations. Methods: Inclusion criteria focused on peer-reviewed studies published between 2010 and 2024, addressing the effects of digital banking technologies on financial inclusion. The studies were required to be in English and include empirical research, case studies, or systematic reviews. Non-peer-reviewed articles, studies unrelated to digital banking, and duplicates were excluded. Searches were conducted across multiple databases, including PubMed, Scopus, Web of Science, Google Scholar, and JSTOR, using keywords such as “unbanked populations,” “fintech,” “blockchain in finance,” “AI in banking,” “digital banking,” and “financial inclusion.” The risk of bias was assessed based on study design quality and relevance. Out of 150 initially identified studies, 40 were included after title, abstract, and full-text screening. Main Findings: The synthesis of 40 studies revealed that mobile banking has significantly increased financial access, especially in regions like sub-Saharan Africa, enhancing savings and money transfer processes. Digital wallets have also improved accessibility, though concerns about data security and privacy persist. AI-driven credit scoring models have democratized access to credit, especially for individuals lacking traditional credit histories. Blockchain shows promise in improving transaction transparency and reducing costs but faces regulatory hurdles. Conclusion: For digital banking technologies to effectively promote financial inclusion, robust regulatory frameworks, enhanced digital literacy, and sustainable digital infrastructure are critical. These advancements are necessary to ensure the widespread and equitable adoption of digital financial services.

In the rapidly evolving landscape of financial services, digital innovation has emerged as a pivotal force in driving financial inclusion and accessibility. This paper explores the strategic integration of cutting-edge technologies to bridge the financial divide, particularly for underserved and marginalized populations. The focus is on pioneering digital innovation strategies that leverage mobile technology, blockchain, artificial intelligence (AI), and cloud computing to create inclusive financial ecosystems. Mobile technology has revolutionized access to financial services, offering unbanked individuals the ability to conduct transactions, save, and access credit through their smartphones. The proliferation of mobile banking apps and digital wallets has democratized financial services, providing a gateway for millions to enter the formal financial system. Furthermore, blockchain technology is transforming the transparency, security, and efficiency of financial transactions. By enabling secure, low-cost cross-border payments and creating tamper-proof digital identities, blockchain is instrumental in building trust and reducing barriers to financial inclusion. AI-driven solutions are also playing a crucial role in enhancing financial accessibility. Personalized financial advice, credit scoring based on alternative data, and automated customer support are some of the ways AI is being utilized to cater to the diverse needs of underserved communities. These AI applications not only improve the user experience but also provide financial institutions with deeper insights into customer behavior, enabling them to design tailored products and services. Cloud computing offers scalable and cost-effective infrastructure, allowing fintech companies to innovate rapidly and reach a broader audience. By leveraging cloud-based platforms, financial service providers can deploy solutions quickly, ensure data security, and maintain operational resilience. However, the journey toward financial inclusion is not without challenges. Ensuring data privacy and security, overcoming regulatory hurdles, and addressing the digital divide are critical considerations that must be addressed. Collaboration between governments, financial institutions, and technology providers is essential to create a supportive environment for these innovations to thrive. In conclusion, pioneering digital innovation strategies hold the potential to significantly enhance financial inclusion and accessibility. By embracing mobile technology, blockchain, AI, and cloud computing, we can create a more inclusive financial landscape, empowering individuals and fostering economic growth on a global scale.

Focusing on innovative resources and platforms that empower the underbanked and unbanked, this chapter considers the potential of fintech to promote financial inclusion. The aim of this chapter is to explore the ways that fintech can enhance financial inclusion by addressing the unique challenges that marginalized individuals face. It will explore various fintech applications that have the potential to transform financial services access in underserved markets, such as digital wallets, peer-to-peer lending, mobile banking, and blockchain technology. The chapter also seeks to assess how these technologies impact literacy, affordability, and financial inclusion. Methodologically, this chapter offers a systematic review of the state of the literature, case studies of international efforts in fintech, and data analysis to better understand how financial technologies may expand financial access. Some details on financial institutions will be combined with industry professionals to give comprehensive knowledge about the current fintech ecosystem.

This study examines the impact of financial literacy, financial inclusion, and financial access on the growth and welfare of Micro, Small, and Medium Enterprises (MSMEs) in North Sumatra, Indonesia, with business growth acting as a mediating factor. Using a quantitative research design and Structural Equation Modeling (SEM) analysis, data were collected from 306 MSME operators selected via purposive sampling. The findings reveal that while financial literacy does not have a significant direct effect on MSME growth and welfare, both financial inclusion and financial access significantly enhance business growth and welfare. Furthermore, business growth serves as a mediating variable, amplifying the positive effects of financial inclusion and access on MSME welfare. The results indicate that MSMEs benefit from better access to formal financial services, such as credit and insurance, which facilitates business expansion and improves the overall welfare of business owners. However, the lack of significant impact from financial literacy suggests that practical financial education initiatives should be paired with improved access to capital and market opportunities. This study highlights the need for integrated policy efforts to enhance financial literacy, expand financial inclusion, and provide easier access to credit to foster MSME growth and welfare in North Sumatra.

Caribbean Small Island Developing States (SIDS) are highly vulnerable to extreme weather events and climate change. Caribbean SIDS climate vulnerability is worsened by their high level of financial exclusion. Many people do not have bank accounts and access to electronic fund transfer (EFT). As such, they cannot electronically receive funds before or after a natural disaster to cope with the effects. The financial exclusion problem can be addressed through a digital wallet. A digital wallet is a financial transaction application that securely stores a user's banking and payment information on a cloud interface and allows the user to perform a transaction while hiding their banking information from a vendor. The biggest concern of users with regard to the use of digital wallets is its convenience and security. While digital wallets offer outstanding convenience of purchasing goods and services, data privacy and fraud risks deter people from adopting mobile payment. Potential fraud risk to digital wallets can be identified with anomaly detection techniques. The research problem investigated in this study is how the implementation of an artificial intelligence (AI)-enhanced digital wallet can facilitate financial inclusion in the Caribbean, particularly in the context of disaster preparedness and recovery. Since security is an important aspect of a digital wallet, a sub-objective of this study is to derive an appropriate model for anomaly detection in financial transactions in a digital wallet. This study modifies the standard Gated Transformer Networks (GTN) architecture to allow for univariate time series classification. The corresponding new model is referred to as the Univariate Gated Transformer Network (UGTN). The UGTN is used for anomaly detection in financial data from a digital wallet. This study also provides policy recommendations for the implementation of a digital wallet to facilitate financial inclusion and climate resilience in Caribbean SIDS. Received: 27 August 2024 | Revised: 9 October 2024 | Accepted: 5 November 2024 Conflicts of Interest The author declares that he has no conflicts of interest to this work. Data Availability Statement The data that support the findings of this study are openly available in GitHub at https://github.com/doncharles005/Digital-Wallet-and-Beryl/tree/main. Author Contribution Statement Don Charles: Conceptualization, Methodology, Software, Validation, Formal analysis, Investigation, Resources, Data curation, Writing - original draft, Writing - review & editing, Visualization, Supervision, Project administration.

The COVID-19 pandemic has greatly affected multiple sectors in Indonesia, particularly the financial sector. Amidst economic uncertainty, financial inclusion is crucial to support economic recovery and community welfare. Mobile banking and digital wallets have emerged as effective solutions in improving financial inclusion, facilitating wider access to financial services for people, especially in remote areas. This research uses the journal review method, by analyzing various research sources related to the role of mobile banking and digital wallets in improving financial inclusion in Indonesia during the pandemic. The findings show that digital financial technology has accelerated the process of financial inclusion, with positive impacts on economic sustainability. By enabling easier and safer access to finance, mobile banking and digital wallets support the achievement of sustainability goals through reducing social and economic inequality. This research contributes to a better understanding of the potential of digital technology in supporting sustainable financial inclusion, and its implications for public policy in Indonesia.

Instituting digital asset management (DAM) in cultural heritage institutions tends to be a major IT initiative. What is often overlooked is that DAM in isolation merely provides a resource intensive organizational tool for digital assets within the institution. The more important aspects of a DAM implementation are the workflow processes and procedures that are integrated into the application, the links the application makes internally and externally to other institutional systems, and ultimately how the implementation changes and enhances the institution's business processes surrounding the use of digital assets. When the Rijksmuseum in Amsterdam, The Netherlands, decided to undertake a DAM implementation as part of their revamped digital imaging program, their final solution combined MediaBin, an enterprise-level DAM product from Autonomy, with data links to their collection management system, AdLib, and Microsoft SharePoint, a collaboration and business process portal toolkit, with an eye toward further integration in the future.I was commissioned as an outside consultant to help the Rijksmuseum Archive conceptualize their internal business workflows and processes involving digital assets; as they existed and how they might change and be enhanced. Working with the ICT Director, Rob Hendriks, we evaluated systems to layer the actual tasks of these workflows and processes on top of the chosen DAM software. The choice of the DAM application was influenced by its ability to connect to possible front ends, SharePoint being only one of the choices evaluated. The museum had prior experience working with SharePoint making its choice a logical decision. The integration that resulted has been in use for about two years, with additional functionality added in subsequent versions. It has allowed the museum to be more efficient and consider new opportunities. Training of users was fast-tracked; most users never see the MediaBin interface which can be confusing for non-imaging personnel. Users interact with a simplified SharePoint interface, trimmed down to basic functionality. SharePoint also serves as the enabler for request forms, project tracking, and order fulfillment.The model we will describe in our presentation is in many ways an evolution of DAM ahead of the actual maturation of DAM applications, especially for the cultural heritage sector. In the future, a traditional DAM application could be best of breed components rather than an integrated system; a file system or repository like Fedora, a metadata container or wrapper within a database, and a digital asset transformation engine like ImageMagick. Interfaces and workflows to suit the audience would be layered on top via products like SharePoint or open source wiki or CMS systems. The key differentiator for each institution would be the business processes and workflows that make the integration truly functional for the organization, and the flexibility to plug in other systems which feed data to, or need access from asset records. What we have accomplished in a still somewhat traditional manner could be pushed toward a more deconstructed, open and agile development environment.

Financial inclusion, the universal access to affordable financial services, has emerged as a critical component for fostering economic development, especially in emerging markets. This study presents a comprehensive review of trends in financial inclusion through technology, focusing on its transformative impact in emerging markets. In recent years, technological advancements have paved the way for innovative financial solutions, breaking down traditional barriers to access and bridging gaps in financial services. Mobile banking, digital wallets, and blockchain technologies have become instrumental tools in extending financial services to previously underserved populations. This review delves into the key trends shaping the landscape of financial inclusion in emerging markets, highlighting the role of technology as an enabler. The rise of mobile banking has been a game-changer, allowing individuals with limited access to traditional banking infrastructure to conduct financial transactions seamlessly. Digital wallets have gained prominence, offering a secure and convenient means for users to store, transfer, and receive money. Blockchain technology, with its decentralized and transparent nature, has facilitated the development of innovative financial products like cryptocurrencies, providing alternative avenues for financial inclusion. However, challenges persist, including concerns related to data security, regulatory frameworks, and the digital literacy of users. The review critically examines these challenges and explores potential solutions to ensure the sustainable growth of financial inclusion initiatives in emerging markets. Moreover, the COVID-19 pandemic has underscored the importance of resilient and accessible financial systems. The review assesses the pandemic's impact on financial inclusion trends, highlighting both the vulnerabilities exposed and the opportunities for further integration of technology in addressing economic shocks. This review contributes to the evolving discourse on financial inclusion through technology in emerging markets. By identifying trends, challenges, and opportunities, it offers valuable insights for policymakers, financial institutions, and technology innovators seeking to drive inclusive economic growth through technological interventions.
 Keywords: Finance, Technology, Emerging Markets, Financial Inclusion, Review.

Digital asset management (DAM) is more than just a system – it is the way an organisation manages its valued assets during the entire life cycle, from conception all the way to distribution. In 2016, New Balance refreshed its DAM strategy by engaging a new partner to help integrate DAM into its organisational DNA. This was only possible with a partner that could meet its core needs, while offering stability and functionality to meet extended plans to engage DAM system users. This paper takes a closer look at New Balance’s journey from recognising its need for a new partner through a rapid launch that would position DAM as central to its business.

<p>Digital Asset Management (DAM) encompasses business and other diversified services such as real estate, book production and publishing, museum, and e-commerce. In general, companies are always eager to find the most optimum management tools to contribute to both short and long term objectives. DAM helps increase productivity, efficiency, and lead to sufficient time and cost saving on asset searching, sharing, and distribution. However, DAM is a costly corporate investment, and the return on investment (ROI) of DAM must be justified. In order to get an indepth insight into ROI measurement, interviews with real estate companies and DAM vendors were conducted. Data was observed and analyzed from recordings and note taking during the interview and all participants remained anonymous. From the analyzed data, real estate brokerages have primary and substitute ROI measure approaches–cost savings and behaviour changes. For example, asset search time, asset recreation, and asset utilization in cost savings measurement; qualitative survey, in-person follow up conversations, and user usage in behaviour changes. In addition, the ROI of DAM can be used throughout the entire process, such as having ROI as a supporting document to prove the need for DAM to decision-makers; sharing ROI with all employees to ensure ultimate departmental goals are aligned; and reviewing and comparing ROI constantly to determine whether the desired outcome is achieved.</p>

<p>Digital Asset Management (DAM) encompasses business and other diversified services such as real estate, book production and publishing, museum, and e-commerce. In general, companies are always eager to find the most optimum management tools to contribute to both short and long term objectives. DAM helps increase productivity, efficiency, and lead to sufficient time and cost saving on asset searching, sharing, and distribution. However, DAM is a costly corporate investment, and the return on investment (ROI) of DAM must be justified. In order to get an indepth insight into ROI measurement, interviews with real estate companies and DAM vendors were conducted. Data was observed and analyzed from recordings and note taking during the interview and all participants remained anonymous. From the analyzed data, real estate brokerages have primary and substitute ROI measure approaches–cost savings and behaviour changes. For example, asset search time, asset recreation, and asset utilization in cost savings measurement; qualitative survey, in-person follow up conversations, and user usage in behaviour changes. In addition, the ROI of DAM can be used throughout the entire process, such as having ROI as a supporting document to prove the need for DAM to decision-makers; sharing ROI with all employees to ensure ultimate departmental goals are aligned; and reviewing and comparing ROI constantly to determine whether the desired outcome is achieved.</p>

This study investigates the relationship between the use of digital wallets and financial inclusion and economic empowerment in rural Pakistan. It also examines the mediating role of infrastructure development in these relations, while the moderating role of financial literacy is also addressed in the study. The research method adopted in the present study was quantitative. Data was collected from 476 respondents through an online questionnaire from a rural region of Pakistan, Dera Ghazi Khan. In the study, the positive relationship between the availability, usage, and control of digital wallets, inclusive access to finance, and the levels of economic development are evident from the results. Conversely, financial literacy did not act as a moderator to these relationships. The findings of this study revealed that infrastructure development moderates the effect that goes with the use of digital wallets in a positive way in terms of financial inclusion; nevertheless, it moderates the impact in a negative way when it comes to economic empowerment. These results indicate that despite the beneficial effects of digital wallets on financial access, the benefit arising from economic power may depend on the quality and accessibility of digital support. This paper offers vital information to policymakers, financial service firms, and development agents about the characteristics that affect the impact of digital financial services in enhancing financial access and economic opportunity among rural women in Pakistan. Future studies may investigate how digital wallet patterns change in the future and the quantitative and qualitative data of rural customers.

This research investigates the impact of IoT (Internet of Things) technology, real-time analytics, and digital asset management on energy efficiency and productivity in the Indonesian manufacturing industry. A quantitative approach, employing structural equation modeling (SEM) with Partial Least Squares (PLS) 3 software, is utilized to analyze survey data collected from manufacturing firms across different sectors and sizes in Indonesia. The results reveal significant positive relationships between digital technologies (IoT, real-time analytics, digital asset management) and energy efficiency/productivity. Specifically, Digital Asset Management, IoT Technology, and Real-Time Analytics are found to have statistically significant effects on enhancing energy efficiency and productivity levels in Indonesian manufacturing operations. These findings underscore the transformative potential of digital technologies in driving operational performance and sustainability in the manufacturing sector. Policymakers, industry stakeholders, and practitioners can leverage these insights to inform strategic decision-making and investments in digital infrastructure, workforce development, and regulatory frameworks to foster innovation and competitiveness in the Indonesian manufacturing landscape.