Delivery Of Financial Services Research Articles

Research on integration of enterprise ERP and E-commerce systems based on adaptive ant colony optimization

Integrating the E-commerce system with an enterprise resource planning tool can help the firm improve performance, maintain customers, and increase sales. In Enterprise Resource Planning, integration features can be provided either as developed features or as separate assignments and contributions. Problems with the online platform, improper addresses, rejected payments, and especially apparent transactions are frequent problems for online buyers. The enhanced Adaptive Ant Colony Optimization is utilized to optimize the rural E-commerce express of transportation. Several innovative routes can lower the downlink transportation cost and reach all collecting places with a fast delivery route. Convolutional Neural Networks were utilized to increase the collective innovation of the E-commerce platform and simplify network communication. E-commerce is a mechanism used to market information services and products. Hence, ERP-AACO-CNN has been designed to integrate Enterprise Resource Planning and E-commerce, and business operations can stream smoothly from the front to the back of the business. Statistics on sales orders, customers, stock levels, price, and essential performance measurement systems. The automated invoices, frequent communications, financial report preparation, product and service delivery, and material requirements planning. The most significant results will likely finance businesses that employ it as a stimulant for a wide-ranging process improvement. In addition, E-commerce is a valuable innovation that connects buyers and sellers in various corners of the globe. Customer satisfaction is projected to be more significant than fault detection at 95.2 % accuracy for the proposed method’s E-commerce system with the superior value. According to client demand, an E-commerce system is the most accurate development at a given input level, and a future ERP is 64.9% efficient. The proposed approach has a 24.5% random error rate and a 13.2% mean square error rate. A comparison of E-commerce and enterprise ERP precision to the proposed technique yields 83.8% better results.

A Study on the Impact of Digital Transformation in the Banking Sector on Customer’s Experience

The bank sector underwent enormous transformation with looming of digital technologies, fundamentally reshaping the delivery of financial services and experienced by customers. The current trends in digital banking are cloud computing, digitalization, real time payments, automation and like this. In India’s banking sector, digital payment is predicted to increase to $135.2 billion in 2023 and growing at a CAGR of 12.7% from 2020 to 2025.This paper aims to find the impact of digital transformation on customer experience within the banking industry. Furthermore, the paper analyses how digital transformation initiatives, such as mobile banking apps, peer-to-peer payments apps, AI-powered chatbots, and blockchain have revolutionized the way customers interact with banks. It explores the way technologies have enhanced the speed and efficiency of transaction, and account management processes, and enable personalised services tailored to individual customer’s needs. This paper focuses on Tirunelveli district respondents who are the users of digital banking. The variables are service quality (website organisation, reliability, responsiveness, user friendly, personal need, efficiency) and relationship quality (digital commitment, digital trust, digital satisfaction, digital loyalty). The primary data was collected with a structured questionnaire from 350 respondents. Chi square analysis done with the help of SPSS software. This research helped in better understanding of the customer's experience in advanced technologies. The findings shows that there is no association between relationship quality and demographic factors. The service quality differs from each bank with respect to website organization, efficiency, personal need, reliability and user friendly.

The Influence of E-banking on the Financial Performance of Kenyan Commercial Banks

Aims: The mobile and internet revolution has influenced creation and delivery of financial services leading to more innovative ways of linking customers and partners. Electronic Banking (e-banking) has opened up a new channel of banking resulting in new capabilities for banks as intermediaries. The research questions that the study sought to answer include, the role of mobile banking on the financial performance in Kenyan commercial banks, the effect of Electronic Funds Transfer (EFT) on the financial performance of Kenyan commercial banks.
 Study Design: The research adopted descriptive design with quantitative data approaches.
 Place and Duration of Study: The target population was made up of 24 Kenyan Commercial Banks in the North Coast region of Kenya with a total of 240 employees. These banks are top tier lead brands listed in the stock exchange in the banking sector in Kenya between December 2022 and July 2023.
 Methodology: Strata of top management (section heads), middle managers (branch managers and super agents) and operational employees (lower cadre employees & credit officers) provided 72 respondents. Both secondary and primary data sources were used with the self-administered questionnaires containing both open and closed ended questions. Data analysis included descriptive statistics, correlation and multiple regression on a model of Y = 1.518+ 0.438 X1 + 0.136 X2 + ε.
 Results: The correlation of the independent variables and the dependent variable was high and positive at 0.697 and 0.573 for mobile banking and Electronic Funds Transfer on financial performance respectively. The value of the adjusted R squared was found to be 0.654. The value of F-statistic was found to be 44.919 and it p-value 0.000. The regression coefficient of mobile banking was found to be 0.438 with a t-statistic value of 6.126.
 The regression coefficient of EFT was found to be 0.136 with a t-statistic value of 6.182.
 Conclusion: There is a strong relationship between mobile banking, EFT and financial performance of commercial banks in Kenya. M-banking has significantly reduced operational costs while EFT has increased the number of daily transactions. The study established that the popularity of m-banking has is due to the intensity of technology penetration of mobile phones to bank customers which has resulted in the number of customers registering for m-banking services to increase in the last five years. Commercial banks have also experienced increased ROA and growth in market share with adoption of e-banking.

Development and validation of a multi-dimensional scale to measure the factors influencing fintech firms’ capacity to impact digital financial inclusion

The purpose of the present study is to develop a multi-item scale to measure the factors that affect fintech firms’ capacity to impact digital financial inclusion. Fintech, or financial service delivery supported by advanced technology, has tremendously changed the financial services landscape. It has a potential to improve digital financial inclusion and help the poor. Digital financial inclusion is important since it ensures cost-saving digital mechanisms to provide financial services to the financially excluded and underserved populations. Following an inductive method, a qualitative study was undertaken among managerial staff in fintech firms. The scale development process involved the collection of primary data for pre-testing the questionnaire. The study identified four factors that affect a fintech firm’s capability of impacting digital financial inclusion: resources and capabilities, business models, networks and partnerships, and market and environment. Digital financial inclusion scale is composed of digital skills, access, and quality of access. The final scale consisted of sixty-four items. Though financial inclusion is usually measured from a demand-side perspective, this study provides a supply-side measure for digital financial inclusion. Thus, it can help in identifying and understanding the factors that may hamper fintech firms’ capability to attain desirable outcomes with respect to digital financial inclusion.

Factors affecting country fintech: an European analysis

Purpose- FinTech represents all innovation related to how businesses seek to improve the process, delivery, and use of financial services and it is not a mere technological phenomenon. Considering that the various innovations in the financial and technological fields require the use of explanatory indices, the aim of this work is to propose an analysis of the factors that influence the degree of adoption of Fintech in the European countries. Methodology- We use a correlation model in order to highlight the first results on the relationship between the degree of Fintech at a geographical level and some explanatory variables. The final sample consists of 28 European countries that have all variables requested in the analyisis. Specifically, the level of Fintech is measured by The Global Fintech Index developed by Findexable, while the factors that influence the Fintech come from dataset of International Monetary Fund (IMF): the number of ATMs, number of commercial bank branches, while the intensity of outstanding deposits with commercial banks and outstanding loans from commercial banks is lower Findings- Regarding the analysis of the year 2021, our result indicates preliminarily that Fintech is negatively affected by the number of ATMs, number of commercial bank branches, while the intensity of outstanding deposits with commercial banks and outstanding loans from commercial banks is lower. This findings are consistent with this assumption: one of the driver of the Fintech is the digitalization. Conclusion- The result of our model indicates that the degree of Fintech at a geographical leve seems to be linked to explanatory variables that are related to the banking world. This represents a useful information to academic, practitioners and policymakers. In fact, according to literature, Fintech has an effect on financial system and financial stability. Therefore the explanation of Fintech phenomenon and its measurement represent a crucial point. Future extensions of research could consider additional measures of Fintech and a focus on the most representative explanatory variables. Keywords: Fintech, financial system, banks, banking, digitalization. JEL Codes: G20, G29, 030

Financial Accountability and Service Delivery in Kabale District, Uganda

This research was conducted in Kabale District Local Government to examine the effect of financial accountability on service delivery. The predictor variables under study were funds disbursement, auditing process and record-keeping systems, while service delivery was the outcome variable. The study followed a cross-sectional survey. Data from 86 respondents was collected and analyzed quantitatively, complemented with qualitative analysis. Since descriptive analysis entailed a description of a single variable and its attributes, frequency tables were used to present the data. At the bivariate level, a Pearson correlation matrix was conducted to ascertain the relationships between the predictor variables and the dependent variable. A linear regression model was used to fit the data. Research findings from the regression model show that funds disbursement (R=862), Auditing process (R=656 and record-keeping systems (R=899) have a positive significance on the service delivery of Kabale District local government. The main conclusion drawn from this research is that funds disbursement, auditing process and record-keeping systems have a significant effect on service delivery.

Determinants of the customer participation in financial services delivery through technology

In the post-pandemic era, client preparedness, motivation for technological adoption, and appreciation for technology-enabled financial services all need substantial study and analysis. The study investigates the factors that impact customer participation in financial institutions’ fin-tech offerings. To investigate the factors that influence customers’ engagement in fin-tech services, a well-structured questionnaire was sent to 423 respondents through a suitable sample approach. SPSS-25 and SEM analysis were used to determine the determinants and important variables. The factor analysis found that six variables accounted for 72.04% of the variation. Following SEM regression analysis, it was shown that Trust (β =0.44, P =0.000), User Experience (β =0.31, P =0.000), and the regulatory framework (β =0.29, P =0.000) all had a substantial influence on customer engagement. The findings of the study will aid all strategic planners in developing strategies and policies to increase consumer engagement in the provision of financial services.

FinTech, economic growth and COVID-19: International evidence

The growth of financial institutions is typically considered to be a factor that contributes to the expansion of the economy. The use of financial technology by institutions of finance has resulted in changes to the delivery of financial services, which in turn has an effect on the growth of the economy. However, the epidemic has caused a disruption in the demand and supply of goods around the globe, which has had a detrimental impact on the economy. However, it is worthwhile to investigate if the global economic slump created by the pandemic might have a beneficial influence on the national economy as a consequence of the introduction of innovative technologies. This would be the case if the epidemic caused the recession. This study, which examines the link between financial technology and national economies throughout the pandemic, is based on a cross-country examination of a sample spanning the years 2018 through 2021 and 193 nations. The study was conducted. The findings suggests that financial technology played an important part in reducing the severity of the pandemic's subsequent impact on the economy.

Regulatory Intervention Effectiveness and Performance of Financial Institutions in Nigeria.

Deposit Money Banks have over the years made good contributions to Nigeria’s economic development. However much remains to be done as various regulatory interventions implemented to ensure safe and sound financial services delivery have not achieved the expected results as Nigerian banks still carry poor credit portfolios, illiquidity, weak asset quality, and high interest rates and this may be attributed to sub-optimal increase in asset base, increasing loan loss provision, huge non-performing loan, poor earnings of non-interest income and return on assets. This study adopted ex-post facto design using multiple regressions estimation techniques to analyse the data which was extracted from annual financial statements of three (3) foremost DMBs in Nigeria (UBA, FBN and GTB). The study revealed that combined variations in the institutions intervention effectiveness (shareholders fund, reserve requirements, statutory reserve, asset quality and prime lending rate) have resulted into 60% changes in all the explanatory variables of bank performance. It is therefore recommended that the CBN should be more proactive in the exercise of their regulatory intervention functions when an indication emerges that any of the banks’ are experiencing liquidity crisis to avoid systemic distress in the banking industry as intermediation of funds can get disrupted and liquidity challenges turn into reputational damage.

The Influence of Information and Communication Technology (ICT) on Corporate Performance: a Case of National Social Security Fund (NSSF)

Nowadays, information and communication technology is becoming important for organisations to run their business competitively. ICT is considered capable of producing the best performance of the organisations. With the development of the organisations's performance, it will create renewal of resources that can compete in uncertain market conditions. This study investigated the impact of ICT on corporate performance. It also examined the mediating role of human capital in the relationship between ICT and corporate performance of the National Social Security Fund (NSSF). The research model was developed through the literature review.Data were collected through a questionnaire from 194 NSSF staff selected using probability sampling with the purpose sampling method as well as non-probabilistic sampling by appropriate methods. Various statistical analyses, including cross-tabulation and regression analysis, were used to determine the impact of ICT on business performance. The results show that ICT has a positive impact on corporate performance through human capital capability as a mediating variable. The use of ICT (Internet, mobile devices, computer hardware and software, and data management systems) has a positive impact on the achievement of the NSSF's objectives; financial performance, accountability, service delivery and operational efficiency. This project results encourages the managers and employees of organizations to use the organizational resources available to implement ICT investments in organizations and improve human capital skills, which are the most valuable assets of any organization to remain competitive in the markets.

Developing consensus-based oncology financial advocacy services guidelines.

38 Background: Financial advocacy interventions help patients, and their families address financial hardship experienced through the cancer journey. However, how financial services are offered to patients varies greatly. Across the field of financial advocacy there is a lack of standardization of services, which is needed to accurately evaluate the impact of oncology financial advocacy. The Association of Community Cancer Centers (ACCC) Financial Advocacy Network (FAN) set out to revamp the Financial Advocacy Services Guidelines originally published in 2018, with the goal of providing cancer programs direction in implementing and improving financial advocacy services offered to patients with cancer. Methods: ACCC convened a task force of 7 multidisciplinary financial advocacy experts to guide the process of creating consensus-based financial advocacy services guidelines. The task force assembled a panel of 49 diverse oncology financial advocacy experts. A literature review and input from panelists was used to draft a list of guideline statements. Panelists went through 2 rounds of anonymous voting to inform revisions to the guideline statements. Consensus for the guideline statements was set at 75% agreement. The statements were rated as should not be a guideline, minimum guideline, or enhanced guideline. Cancer program staff completed a questionnaire upon downloading the guidelines. Results: After completion of the 2 rounds, the panel reached consensus that 43 statements should be guidelines. The guidelines are split into three main domains: financial advocacy services & functions; program management functions; and partner engagement functions. The updated Guidelines, which provide cancer organizations with the foundation to implement services to help reduce financial burdens of care, were published in March 2023 and are publicly available. From March 2023 until June 2023, it was downloaded by 93 cancer program staff members, of which 74% stated they will use it to assist in the development, implementation, and/or enhancement of a formal advocacy program at their organization and 58% responded that they have a financial advocacy program already implemented or have a financial advocate on staff. Conclusions: As financial advocacy grows more complex, interventions for patients with cancer are vital. The Guidelines provide expert-developed and consensus-based methods to assist cancer organizations with implementing financial intervention services. Importantly, the newly published guidelines will aid in closing existing gaps in delivery of oncology financial services as 48% of respondents stated they do not have a financial advocacy program or staff member. Further it will promote broader collaboration among partners to aid with assessment tools, creating valid measures and rigorous evaluation of the guidelines to improve cancer patients’ experience and reduce financial barriers to care.

Impact of Banking Fraud Awareness Booklet Among The Students of Satara

With the growth of information and communication technology, the structure and nature of financial services delivery has also changed. Online banking or internet banking has emerged as a new and convenient way for using financial services like funds transfer, viewing account statement, bill payment, use of e-wallets etc. An upsurge in the use of devices connected with the internet and the convenience of online financial services has increased the risk of our hard-earned money being duped by cybercriminals.
 The main aim of this study is to assess the impact of Banking fraud awareness Booklet regarding online among students of Satara.
 The objectives of this study are to assess knowledge regarding awareness of online banking frauds among college going students, to determine the effectiveness of information booklet among college going students and also to find out association between socio-demographic variables and the booklet.
 The results show the significant increase in mean scores as (mean pre 16.92 SD=2.591 to mean post 18.32 SD=1.842). The paired 't' test applied showed the calculated paired t value (5.291 at 0.05 level of significance). The study reveals that there is association between, class, department & course of the subjects and level of knowledge regarding awareness on online banking frauds.
 The information booklet was effective in improving the knowledge of awareness regarding online banking frauds among the Undergraduate students.
 Keywords: Online banking frauds, Banking fraud awareness booklet.

Artificial intelligence algorithms and cloud computing technologies in blockchain-based fintech management

Research background: Fintech development shapes corporate investment efficiency and economic growth with innovative tools, and can decrease financing constraints of enterprises, enabling direct and indirect financing and furthering inter-bank competition. Crowdfunding- and blockchain-based fintech operations harness deep and maching learning algorithms, augmented and virtual reality technologies, and big data analytics in mobile payment transactions. Purpose of the article: We show that fintechs have reconfigured financial service delivery by harnessing AI-based data-driven algorithms and cloud and blockchain technologies. Fintech optimizes financial organization and services, economic structures and growth, data analysis, and digital banking performance. Machine learning algorithms can streamline payment operation capabilities and process promptness, ensuring smooth operational flows, assessing risks, and detecting frauds and money laundering by historical data and customer behavior analysis across instant payment networks and infrastructures. Methods: Quality tools: AXIS, Eppi-Reviewer, PICO Portal, and SRDR. Search period: July 2023. Search terms: “fintech” + “artificial intelligence algorithms”, “cloud computing technologies”, and “blockchain technologies”. Selected sources: 40 out of 195. Published research inspected: 2023. Data visualization tools: Dimensions and VOSviewer. Reporting quality assessment tool: PRISMA. Findings & value added: Fintech development enables organizational innovation by mitigating information asymmetry and financing limitations while providing financial assistance and tax incentives in relation to products and services. The fintech growth has influenced the dynamic intermediary function of financial institutions in terms of sustainability and economic development. Fintech and natural resources negatively influence, while green innovations and financial development further, environmental sustainability.

Progression of Digital Banking: A Methodical Examination of Technological Developments and Innovations

The article aims to provide a detailed exploration of the evolution and progression of digital banking platforms. This research utilizes a systematic review method to critically analyze the transformative impact of technological developments and innovative practices in the banking industry. The study traces the transition from traditional to online and mobile banking, focusing on the integral role of these digital channels in revolutionizing financial service delivery. Furthermore, it sheds light on the transformative role of technologies such as mobile applications, biometric authentication, artificial intelligence (AI), machine learning (ML), and blockchain in enhancing banking operations and customer experience. The research also examines the regulatory frameworks governing digital banking and discusses the associated challenges and risks, including cybersecurity threats and the digital divide. It outlines potential solutions and mitigation strategies to these issues. Lastly, the manuscript identifies emerging trends and opportunities in digital banking, including the integration with new financial technologies, role of 5G and IoT, and the importance of personalized banking experiences. This research is a valuable resource for banking industry stakeholders, policymakers, and researchers interested in the future trajectory of digital banking

Artificial Intelligence in Financial Management and Accounting Profession

In this work, artificial intelligence as a veritable tool in the deployment of financial management services by accounting professionals was studied. Extensive literature analysis with a robust constructive discussion was used to x-ray the impact artificial intelligence is having in financial management and accounting profession. The outcome of the discussions revealed that artificial intelligence has created sustainable financial productivity and more employment opportunities for the engagement of accounting professionals in providing cutting edge solutions in the delivery of quality financial services in different organizations.

Adopting FinTech to promote financial inclusion: Evidence from western African economic and monetary union

Studies have indicated that many households living in developing countries, especially in Sub-Saharan Africa, have limited access to financial services offered by the banking system due to multiple socioeconomic barriers. This paper analyzes the impact that FinTech could have on the supply of financial services, including Western African Economic and Monetary Union. We estimate a logit model on Fintech-related variables using data from Global Findex 2017 to find variables that potentially affect financial inclusion. The analysis highlights several results. Firstly, they reveal that many major obstacles to financial inclusion, such as insufficient resources, lack of trust, and lack of official documents, cost, and religious reasons. Second, they demonstrate who is most financially excluded: women, young people under 25, the poor, and those with low levels of education. Thirdly, they also reveal that FinTech has the potential to remove many of these barriers and accelerate financial inclusion in the Western African Economic and Monetary Union. The richest 20% of people, young men, and those with tertiary education are considered to be the key factors of Fintech adoption. These results imply to involve FinTech widely in the delivery of financial services and to promote more financial literacy.

The Impact of the Corona Pandemic on the Marketing of Banking Services and its Reflection on the Result of Banks' Business

Purpose: The aim of this study is to examine the impact of the Corona pandemic on the ability of banks to market their services and its reflection on the result of their activity. Theoretical framework: The research acquires its importance from the role and importance of marketing banking services and thus increasing their revenues, which is reflected in increasing their profits or reducing their losses, as well as the importance of shedding light on the impact of the Corona pandemic on this vital sector, through the weak ability of banks to market their services in the shadow of this pandemic. Design/methodology/approach: The researchers used the descriptive analytical approach through the analysis of the income statement of the banks of the research sample for a series of years. Findings: The results indicated that the pandemic had a substantial impact on banking services since there was a link between the pandemic's expansion and banks' capacity to sell their products. The epidemic also caused banks' levels of liquidity to fall, which had a negative effect on their capacity to extend credit and loans. Research, Practical & Social implications: The study suggests that banks adapt their working practices by moving to electronic transactions for the delivery of financial services. So, in times of crisis, banks need develop new strategies for marketing their financial services. In light of the Corona pandemic, it offers ideas for how the banking industry should develop its methods of marketing its services. Originality/value: The value of the study is important because banks should change their work methods by switching to electronic dealing in providing banking services. In order to face crises, banks should expand their investments in areas that are not significantly affected by crises.

Money in the age of bits and bytes: Technology in reshaping finance

In contemporary times, there has been a growing convergence between the finance and technology sectors. The emergence of FinTech has revolutionized the delivery of financial services and created new opportunities for innovation in the financial sector. The use of artificial intelligence, blockchain, and mobile banking are examples of how technology is reshaping the financial industry. This case explores the emergence of the Indian banking sector’s adoption of technology, starting with computerization in the late 1980’s and its growth through to the present day. Financial services have benefited from technology in the form of streamlined processes, lower costs, happier customers, and easier access to relevant data. In addition, by using technology, risk can be evaluated, superior investments can be made, and customer habits may be comprehended. Conversely, technology presents a set of difficulties such as cybersecurity risks, financial misconduct, prejudiced algorithms, and the marginalization of specific demographics from digital financial amenities. This case brings out the perspective that the future of financial services is expected to be shaped in large part by the effects of technological progress.

Do illiteracy and unemployment affect financial inclusion in the rural areas of developing countries?

The aim of this study is to examine the effects of illiteracy and unemployment on financial inclusion in rural areas of Nigeria between 2017 and 2022. Most rural areas in developing countries have high illiteracy and unemployment rates, creating challenges for researchers to measure the inclusiveness of financial services and products. This study examined the effect of illiteracy and unemployment on the inclusiveness of financial services and products in rural areas of Nigeria. The ex-post facto research design, systematic sampling, dummy for latent variables (erratic power supply and insecurity in rural areas), and autoregressive distributed lag (ARDL) techniques were employed. The result showed that the coefficient estimate for the illiteracy rate is negative (-0.5318), indicating that higher illiteracy is associated with lower financial inclusiveness, and the coefficient estimate for unemployment rate is also negative (-2.1977) and statistically significant, suggesting that the higher unemployment rate is associated with financial inclusiveness. These findings indicate that a decline in the delivery of financial services in developing nations attest to illiteracy and unemployment. This study concluded that there is a need to improve education and employment rates in rural areas of developing countries to achieve optimal inclusiveness of financial services and products.

Socio-economic characteristics, mobile phone ownership and banking behaviour of individuals as determinants of digital financial inclusion in India

PurposeThis paper aims at analysing the socio-economic characteristics, mobile phone ownership and banking behaviour as key determinants of digital financial inclusion in India.Design/methodology/approachThis study is based on the Global Findex Survey of the World Bank covering 3,000 adult individuals in India. Simple statistical tools such as descriptive statistics, chi-square test and regression analysis with a marginal effect have been used for the data analysis.FindingsAbout 35.2% of respondents have reported using digital financial services in the country. There is a significant association between the socio-economic profiles of individuals with the adoption of digital financial services in terms of gender, age, education, occupation and income. The marginal effect indicates that socio-economic factors, mobile phone ownership and banking behaviour of individuals towards borrowings and savings have indicated significant influence on digital financial inclusion. The analysis depicts that male with higher age, education, working status and higher income are more likely to adopt digital financial services. Further, individuals with mobile phone ownership and utilising banking in terms of borrowings and savings are more likely to adopt digital financial services.Practical implicationsAs digital banking services have emerged as a preferred channel for financial service delivery, this study provides timely insights on developing user driven-strategies for promoting digital financial services.Originality/valueSocio-economic characteristics, mobile phone ownership and banking behaviour are critical determinants of financial inclusion, so assessing its implications in the era of digitisation becomes imperative.Peer reviewThe peer review history for this article is available at: https://publons.com/publon/10.1108/IJSE-10-2022-0673.