Development Of Financial Technologies Research Articles

Global financial technology coordination by international institutions and organisations

In the context of geopolitical polarisation, the world economy is increasingly fragmented into separate economic blocs with different ideologies, technological standards and currencies, with the dominance of the dollar being supplanted by a multipolar system. In this new landscape of international relations, international institutions, as instruments of global governance whose purpose is to promote global economic integration, are trying to find new areas of interaction and coordination mechanisms, which are still uncertain.†The article is devoted to the study of coordination directions at the level of international organisations and institutions and the prospects of their development in the sphere of financial technologies. The article systematises the forms of coordination at the level of international organisations and institutions, corresponding to the stages of financial integration, including those that take into account inter-sectoral problems of financial technology (fintech) development. Taking into account the specifics of self-organisation of national models, new approaches to the coordination of the processes of modern financial technologies development at the level of international organisations are presented, providing a consistent transformation of managerial decisions on the basis of the sectoral approach to the coordinated financial and technological policy of the global level.

КЛЮЧЕВЫЕ ТЕНДЕНЦИИ ЦИФРОВИЗАЦИИ В СОВРЕМЕННОЙ ФИНАНСОВОЙ ИНФРАСТРУКТУРЕ: МЕЖДУНАРОДНЫЙ И РОССИЙСКИЙ АСПЕКТЫ

This article analyzes the processes of digitalization in the field of finance in international and Russian practice, examines the key factors and current trends in the digital transformation of financial instruments. This analysis has shown that the financial market is the most important system of the digital economy. The introduction and development of financial technologies makes it possible to optimize and reduce operating costs, structure services, remove risks, increase the availability and quality of financial services and services for citizens and businesses, and contributes to the creation of a competitive environment. These preferences became the basis for the fact that financial institutions were the first to come to the new digital reality in the global economy. The article assesses the state, problems and prospects of digitalization of the Russian financial market, discusses the mechanisms of its state support.

Crowd Funding and Blockchain in the Era of Disruption 4.0 in the Influence of Financial Technology Development

Crowd Funding and Blockchain in the Era of Disruption 4.0 in the Influence of Financial Technology Development

Computer Measurement Analysis of the Impact of Smart Financial Technology Development on Green Total Factor Productivity of Smart Cities in China

Computer Measurement Analysis of the Impact of Smart Financial Technology Development on Green Total Factor Productivity of Smart Cities in China

Multi-trend trade system for financial markets

At present, more and more people are beginning to be interested in the field of investment. This is due to the growth in incomes of the population, on the one hand, and development of financial technologies, on the other hand. The problematic situation is analyzed in this article and the main known models, algorithms and indicators used to build trading strategies are considered. A conservative trading strategy based on trend indicators is proposed. The strategy can be an alternative to the popular conservative “buy and hold” strategy. Exponentially moving averages of various orders that reveal the presence of trends of variable duration in the price dynamics of a financial asset are used as system indicators. A distinctive feature of the proposed trading system is the combination in one approach of the trading method that generates trade signals and the rules for position size management. The article contains results of testing a proposed trading strategy based on historical data. A comparative analysis of the results obtained with the results of the “buy and hold” strategy and the strategy based on two exponential moving averages of different orders is carried out. The proposed system can be easily integrated into automated trading systems. The R language was used for data processing and visualization.

Crypto Currency In The Perspective Of The Fatwa DSN MUI In 2021

Current technological developments include digitalization in various fields, including the field of financial investment. Cryptocurrency or digital currency is the result of the development of financial technology.. This researchaims to explore cryptocurrency analysis in the perspective of the 2021 MUI DSN fatwa and the Islamic financial system.The methodology used is a literature study approach to national and international journal articles, as well as books and other literature related to cryptocurrencies. The main findings produced in this study, the current global financial system mostly adheres to an interest-based economic system. There are at least 3 factors behind the birth of Islamic finance, namely: ideological religiosity, pragmatic empiricism, and idealistic academics. The importance of crypto currency as a legal tender according to the perspective of Indonesian law and the Islamic financial system, both at the level of theoretical and practical philosophy.From the results of this study, it is hoped that it will answer the advantages of theoretical philosophy-practice Islamic financial system at the theoretical and practical levels. However, stakeholders in the field of Islamic finance should not be passive, but proactive in the existence of the cryptocurrency

Legal Protection Of Emergency Contact Victims In Online Loan Agreements

Emergency contact is an emergency telephone number given by the debtor (money borrower) to the creditor (money lender through the application) if one day the debtor cannot or is not smooth in making payments, the emergency contact number will be contacted by the application service . This study aims to find out and explain the legal rules regarding online loan agreements in Indonesia and to find out and explain legal protection for emergency contact victims in cases of giving phone numbers without the victim’s knowledge in online loan agreements. In handling this case regarding the interests of the victim, it is time for special attention to be given, it is necessary to add a clear regulation regarding legal protection for emergency contact victims in the online loan agreement into the law that should be, considering the development of financial technology is very fast and is the main need of the community. And so that the victims can calmly and freely obtain their rights that have been harmed. The state must also provide access for victims to be able to claim their rights. The type of research used to answer these problems is normative legal research using legislation and conceptual approaches. Data collection is done through literature study. The data analysis used is qualitative analysis.

KEBIJAKAN KEUANGAN NASIONAL TERHADAP PERMASALAHAN EKONOMI DAN BISNIS SELAMA PANDEMI COVID-19 DI INDONESIA

Indonesia is a country affected by the Covid-19 outbreak, and this has caused various shocks, including in the economic and business sectors. In this case the economic side offers several solutions and the role of policy for the economy during the face of the co-19 pandemic. The purpose of this study is to determine the impact of the presence of the National Financial Policy on the field of Economy and Business in Indonesia today. The type of research used is a descriptive qualitative approach method with data analysis techniques and library research. The results of this study indicate that the Covid-19 Pandemic has had an impact on the global economy including the economy in Indonesia. This causes a decrease in demand for products and also affects investment realization. In this case the National Financial Policy has an impact and provides solutions in the field of Economy and Business during a pandemic including: (1) direct cash disbursement; (2) the existence of superior business capital assistance for the business sector or MSMEs; (3) increasing economic and financial literacy through the development of financial technology.

Інноваційні технології цифрової економіки як напрямок інвестування у розвиток України

The article examines the issue of innovative financial technologies in the context of the digital economy. The leading foreign experience of investing in fintech companies was analyzed, and the dynamic development of financial technologies was proven based on the analysis of statistical data. The main features of fintech companies are revealed. Quantitative and qualitative methods (the method of discounted cash flows, the first Chicago method and the Berkus method) of company value estimation, which are better than others, are able to take into account the peculiarities of the fintech industry, are considered. It has been proven that the optimal valuation method for mature fintech companies is the discounted cash flow method and the first Chicago method. A qualitative assessment of the Ukrainian fintech startup was also carried out using the Berkus method.

A Digital Economy Perspective: Research on Legal Issues of Fintech Regulation

The Internet digital economy is reshaping the global financial system with an irreversible trend, driving the transformation and development of financial technology. Due to the professional complexity and cross-border integration of financial technology, while improving the efficiency of traditional financial operations and reducing financial transaction costs, it also poses new challenges to Chinese regulatory authorities. In view of this, it is necessary to understand the development status of financial technology, clarify the regulatory subjects and principles of financial technology supervision, and sort out and summarize the existing regulatory model and its shortcomings. Finally, I will give advice on the problems existing in the practice of financial technology supervision, and theoretical support is put forward for improving the legal system of financial supervision, so as to promote the healthy development of financial technology.

The Darker Side of Fintech: the Emergence of New Risks

Abstract The financial sector has always been recognized as a traditional activity. One of the biggest challenges facing the financial sector recently is the introduction of new technologies. Financial innovations, and especially the development of financial technologies (FinTech), contribute to changing the way the entire financial system, including the banking sector, changes in the digital economy. The changes brought about by financial innovations and technologies condition all market participants, and especially banks, to continuously improve their business in order to keep up with the competition. FinTech enable easier access to financial services, improvement of traditional services, provide greater efficiency, lower costs and automation of regulatory reporting. They have changed the way we perceive financial institutions. Banks can increasingly be seen as an application on the phone and computer through which financial services can be performed, less and less as a grand building that instils confidence. However, it should be borne in mind that the application of financial innovations, in addition to the advantages, carries with it many risks, in a way that it can be said that digital technologies change existing ones, but also bring new risks in the field of financial services. The key risks caused by these technologies include strategic, operational and cyber risk, the risk of business compliance with data protection regulations, as well as liquidity risk. The importance of outsourcing risk is not negligible. It is precisely because of the speed of change and innovation that new risks are constantly emerging. With the growing importance and number of these firms, as well as the speed of their cross-border transactions, the fact is that it is necessary that these firms must adjust the way they measure risk in accordance with the speed and pace of their development. The importance of risk management must be one of the key points for FinTech companies, both now and in the future. Due to the observation of advances in financial technologies and the assessment of the risks that financial innovations bring, there is a need to harmonize regulatory frameworks, in order to ensure that none of the financial service providers would be at a disadvantage. However, regulatory bodies must carefully consider the dynamics and manner of regulation, bearing in mind that in a rapidly changing environment, excessive and rapid regulation carries the risk of undesirable outcomes in a way that does not exploit the full potential of innovative technologies. The development and increasing use of financial technologies affects the activities of all participants in the financial market, which imposes the need for continuous learning and adaptation of users and providers of these services, as well as supervisors and regulators. An additional challenge for financial institutions is the fact that competition in the provision of financial services comes from IT companies, which necessarily imposes the need to adapt its business models. Financial institutions are facing one of the biggest business challenges. All this brings special challenges for the creators of regulatory standards (RegTech) and the development of supervision based on new technologies (SupTech).

Innovation and Development of Guangdong-Hong Kong-Macao Capital Market Based on Fintech

The development of the capital market will face challenges. Promoting the optimization of the capital market in the guangdong-hong kong-macao (CHM) Greater Bay Area (GBA) with the development of emerging FT is not only of practical significance to the development of the GBA, but also of great significance to promoting the country's overall economic competitiveness and realizing modernization. In the context of the rapid development of FT, the practical and theoretical significance of capital market optimization in the CHM GBA is analyzed. The new generation of FT means such as big data, cloud computing, artificial intelligence, blockchain, and Internet payment are the mainstays of CHM University. Possibilities analysis of Bay Area capital market optimization offers. Based on this background, this paper conducts research on the innovative development of capital markets in CHM based on financial technology (FT).This paper mainly studies the status quo of financial support for technological innovation in the CHM GBA, summarizes the main practices of financial support for technological innovation in the three major bay areas in the world, and draws the following points: First, it is necessary to establish a ST innovation system according to the national conditions of a country. financial support system. Second, policy finance plays a guiding role in the initial stage of ST innovation activities. Third, commercial banks play an important role as a booster in technological innovation activities. Fourth, a sound credit guarantee system provides a strong guarantee for technological innovation. Fifth, developed venture capital and perfect multi-level capital market can effectively speed up the development of ST innovation.

Empowerment Community Welfare After the Pandemic in Indonesia: The Role of Fintech?

Financial technology or fintech is a term or term to denote companies in the financial sector that provide modern technological innovations in banking payments. The number of financial technology is constantly increasing with various estimates and the number of more than ten thousand companies. The development of Financial Technology is inseparable from the risks, as some of the risks that arise are related to consumer protection which includes the protection of funds and user data. The purpose of this study is to find out how fintech regulation in Indonesia, to understand the existence of Fintech in the digital era and to know and understand the role of fintech in improving the welfare of society after the pandemic. The research method used is Normative Juridical and The approach method used is descriptive and qualitative research methods. The results showed that fintech is very popular and is an alternative to the use of financial technology and is a foundation for people who are far from the conventional financial business sector. OJK and BI as supervisors of the financial sector also issued several regulations related to the implementation of fintech in order to ensure a safe and comfortable financial business and not violate the principle of prudence. In its implementation, it is hoped that the public will not borrow and use fintech technology that has not been registered with the OJK or at BI. This requires the government to be more aggressive in socializing fintech that is legal and registered with the OJK or BI.

Assessment of the Factors Affecting the Intention to Invest in a P2P Lending Platform

The digitalisation of the financial system and the rapid growth of new financial technologies arecontributing not only to the change of the financial system, but also to the change of the way people makefinancial decisions. The development of financial technologies has led to the emergence of new financialservices and products, such as P2P lending. With the growth P2P lending market, the scientific literaturepays more and more attention to the analysis of investment intentions through P2P lending platforms and theassessment of the factors affecting the intention to invest (Dja’akum, 2019; Fiorentino et al., 2020; Khan etal., 2021Yang ir Lee, 2016; Poeteri, et al., 2021). It should be noted that, although the interest of researchersin this field is growing, the research in the European context is not sufficient, which reveals the relevance ofthis study. Thus, the aim of the present study is to assess the factors that affect the intention to invest throughP2P lending platforms in Lithuania.A theoretical review of the scientific literature revealed that previous empirical studies have categorised thefactors of the intention to invest through peer-to-peer lending platforms into individual and platform factors.Individual factors are understood as risk appetite, perceived risk, financial literacy, while platform factors areunderstood as perceived ease of use, perceived usefulness, trust. Attitude toward behaviour can be seen asboth an individual and a platform factor. Other factors, such as relative advantage, compatibility, complexity,perceived behaviour control are also distinguished in the scientific literature, but are not considered in theanalysis of the intention to invest through peer-to-peer lending platforms.Research data was collected through an online survey. The survey questionnaire was distributed onlinebetween February and April 2022. The survey sample consisted of 211 respondents. The conceptual researchmodel was developed using a Modified Technological Acceptance (TAM) model, which was performed usingthe Structural Equation Modelling (SEM) method.The SEM analysis revealed that the intention to invest through P2P lending platforms was indirectly influenced by the trust of the P2P lending platform, perceived risk and risk appetite factors. The indirect impactwas through attitude toward P2P lending platforms factor, which had a strong and significant positive impacton the intention to invest through P2P lending platforms. The effect of perceived usefulness and perceivedease of use on Lithuanian investors‘ attitudes towards P2P lending platforms was not statistically significant,and therefore no statistically significant effect of these factors on the intention to invest through P2P lendingplatforms was found.

DOES START-UP FINTECH AFFECT THE PROFITABILITY RATIO OF ISLAMIC BANKS? CASE STUDIES OF THREE STATE-OWNED ISLAMIC BANKS

The development of financial technology in the financial services sector provides benefits and conveniences, especially in the banking services sector. In overcoming this threat, the banking industry, especially Islamic banking, initiated a strategy by collaborating with financial technology. As banks controlled by the government, state-owned banks, namely Bank Mandiri Syariah, Bank Negara Indonesia Syariah, and Bank Rakyat Indonesia Syariah, took these steps to increase the company's profitability. This study aims to analyze the effect of Financial Technology (Fintech) on the profitability of the three banks. This research is a descriptive study with a quantitative approach by comparing the profitability ratios of banks for the 2015-2020 period that have collaborated with fintech. In this study, the data normality test and Paired T-Test were carried out to compare before and after seeing fintech start-ups. The results showed that based on the analysis of ROA, ROE, BOPO, and NPM at three banks, it was found that there was no significant difference after pressure with fintech.

Consistency of Mobile Payment Usage, Performance, and Financial Inclusion

The development of financial technology impacts different human lives, including business processes. The public increasingly favors mobile payment as a fintech application because of its practicality, ease, and speed. In addition, its application could improve business performance and financial inclusion for business people. This study aims to analyze the consistency of mobile payment usage that will impact tenant performance and financial inclusion, influenced by perceived risk, perceived benefit (return), and brand image of mobile payment. The sample used in this study consisted of 338 respondents who are business people in the Jabodetabek area who use mobile payments.The results showed that perceived benefit and image influence business people to consistently use mobile payments in their business, which will impact business performance and increase their financial inclusion.The managerial implication for fintech companies is to maintain product quality and the benefits of mobile payments. People often ignore the risks of using mobile payments, so fintech companies mustmaintain their performances in terms of information, fraud, and speed of response to reduce consumer risks.

DOES FINTECH CHANGE THE MARKET POWER OF TRADITIONAL BANKS IN CHINA?

This study assesses the impact of the development of financial technology (FinTech) on the market power of traditional banks. We analyze the relationship between FinTech companies and traditional banks based on the barriers-to-entry theory, and verify the resulting hypothesis by using panel data from 155 Chinese commercial banks from 2013–2018. The benchmark results show that FinTech has a significant U-shaped effect on the market power of banks. Furthermore, the U-shaped effects remain robust when we focus on the technology and business innovation channels that affect banks. These effects vary across banks with different ownership structures and business segments. Specifically, municipal commercial banks are more likely to be influenced by business innovation than by technological innovation. By contrast, state-owned banks have advantages in using technological innovation to reacquire market power through loan services. Private banks, meanwhile, struggle to acquire any market power under intense competition from FinTech companies. Given that the FinTech may enable some banks overly dominate the banking industry at certain development stages, regulators and practitioners need to prevent monopoly-related problems and promote the digital transformation of small and medium-sized banks.

Kajian Potensi Dan Resiko Keberadaaan Mata Uang Kripto Terhadap Perilaku Investor di Indonesia

The development of financial technology is currently so rapid, so that the process of financial transactions carried out by individual users or groups becomes faster. In a period of 10 years, namely 2010-2020, investment is always synonymous with stocks and the capital market. So that investment is always associated with a person or group of people who have a large amount of wealth. Digital currency began to be widely used as a means of payment on the internet. The purpose of this currency is to provide convenience and security in payments. With the Blockchain technology in it, making transaction costs cheaper. In terms of the technology offered, cryptocurrency is a development of financial technology that allows it to replace paper money into digital money in future financial transactions. The behavior of investors in the capital market who generally make investment decisions varies from one investor to another, although sometimes the type of investment chosen is identical and has the same source of information. The purpose of this research is to analyze the potential and risks of the existence of crypto currencies on the behavior of investors in Indonesia. The method used in this study is a descriptive qualitative approach with data collection techniques through literature studies. The results of this study are expected to provide literacy and an explanation of the existence of cryptocurrencies that have potential and risks to investor behavior in Indonesia.

Pelatihan Financial Technology untuk Bertransaksi dan Berinvestasi

The emergence of changes in the technology industry makes developments in several related industries. One of them is in finance. The rapid development of financial technology creates a new era in society. Ease of transaction and investment by prioritizing digital technology. Collaboration between finance and technology that makes transactions more time efficient. People’s ignorance of current technological developments certainly leaves a bad impression on how the technology is implemented. All forms of adaption are neede, especially if there are regulations needed. Thus empowerment is one way in an effort to be able to help increasse understanding of financial literacy in supporting a digital technology-minded society. Increasing the capacity of human resources will make sustainable development that can increase the level of business development better. In this case, we strive to do community service by providing knowledge and training for the millenial generation.

Strategizing the Implementation and Development of Financial Technologies in National Innovation Systems

This article considers the strategic processes of national innovation systems in the context of the introduction of financial technology, as well as systematized stages of development of financial technology in the world. As a result of the work the stages and strategic trends in the emergence of financial technologies in the innovation systems of different countries weresystematized. It is necessary to allocate the USA as the country-leader on creation and realization of financial technologies. The research revealed that companies of different sectors not only use financial technologies to improve the quality of their services, but also actively implement these technologies in long-term corporate development strategies. The article also explored the strategic features of the implementation of financial technologies in the innovation systems of the United States, China and the European Union. The main strategic decisions on creation of innovation ecosystems, interaction of large companies, representatives of financial system, state and science are given. Introduction and realization of financial technologies transforms not only financial and innovation systems, but also the whole national economy. Around the world, countries are paying increasing attention to the strategy of digital transformation of economic systems and increasing access to financial technology.