Development Of Fintech Research Articles

Reflections on the privacy protection of e-CNY

With the rapid development of fintech, digital economy, and blockchain technology, the problems of digital currency in privacy protection need to be paid attention to and solved urgently. We start with the characteristics and issuing mode of e-CNY. Then, the influence of e-CNY at home and abroad is investigated as an attempt, upon which the existing or potential threats and challenges in privacy security are analyzed. Finally, based on the above research, we put forward feasible suggestions and prospects for e-CNY.

Research on the Cultivation of Financial Science and Technology Talents Based on Cross-Disciplinary Multi-Professional Integration

With the continuous development of fintech, the financial industry has a greater demand for cross -disciplinary and multi -professional integration talents. In this context, how to cultivate fintech talents with interdisciplinary and multi -professional integration capabilities have become a problem that needs to be solved urgently. This article starts with the setting of financial science and technology talent training courses with multi -disciplinary multi -disciplinary integration, and explains the knowledge goals, ability goals, and skill goals that require talent training, and discuss the effects and significance of talent training.

When Fun Turns Into Hedonism: Boon or Calamity?

Adolescent behaviour is influenced by their surrounding environment and by them being an active agent in shaping their own environment. The ability to adjust to campus environments is associated with certain psychosocial factors, including parental support and peer attachment. The majority of adolescents with moderate and high levels of hedonistic behaviour were found among undergraduate students. It was discovered that millennials explore identity theory more by utilizing all the conveniences of fintech services to achieve their financial goals. The development of fintech in Indonesia continues to advance, one of which is a new breakthrough that has emerged and is widely discussed, named Spaylatter. The purpose of this study was to determine the moderating effect of peer attachment on the hedonistic behaviour of undergraduate students in Jombang. By using a post-positivist approach, the case study is a limited system. In this study, it was found that the pattern of life is influenced by opinion, interest, and activity. It is found that the Credit option is used when it is a situation of urgency, not having funds or facing a financial problem. It also found that hedonistic lifestyle behaviours include buying just for pleasure and being the centre of attention. Based on the results of research and observations, the following conclusions can be drawn: pattern of life is influenced by the opinion of someone who is affected by the program, credit options are used in times of urgency, from this credit option, it can lead to a hedonic lifestyle.
 Keywords: Hedonism, Lifestyle, Fintech, Self-actualization, Online Credit, Pay Later

Development And Impact Of Financial Technology (Fintech) On The Islamic Financial Industry Perumda BPR Majalengka

The purpose of this study was to examine how the development and impact of Fintech on the Islamic finance industry in Majalengka. The research method used is descriptive qualitative method and combines two types of research, namely field research and library research. Field research by collecting information from the Financial Services Authority (OJK) Majalengka, and from the Islamic Finance industry, namely Perumda BPR Majalengka. Along with the development of technology, the financial industry is also growing with the emergence of Fintech (financial technology). Fintech is one of the innovations in the financial sector that refers to modern technology. The development of Fintech so that Sharia-based Fintech appears and facilitates customers will certainly affect the formal Islamic finance industry such as Islamic Banks, Sharia BPRS, BMTs and other formal Islamic finance industries where transactions in the formal Islamic finance industry still use physical transactions. in transactions and have not made much use of technological advances that are growing. This will make the formal financial industry less effective because it costs more and takes more time. If the Islamic finance industry is not able to innovate and utilize technology, it will be left far behind by the Fintech-based financial industry which is developing very rapidly.

THE EFFECT OF USING QR CODES TO INCREASE ALMS IN THE MOSQUE

Abstract
 Technological developments have brought many changes to various sectors of human life, one of which is in terms of financial transactions. In the past, Indonesian people used to use their money as a means of payment. Now there is an innovation that makes it easier for people to make more efficient transactions, namely non-cash payments via e-money. One example is taking advantage of financial technology developments by using the QR Code to give alms and spend in mosques. Indonesia has been named the most generous country in the world. This is an opportunity to use fintech to give charity. By utilizing QR Code technology in the charity box, you can increase the income of alms and infaq at the mosque. The data used are primary data through questionnaires distributed in the Jabodetabek area with a total of 100 respondents. While secondary data were obtained from various literature studies such as journals, books, articles, and internet sites that are relevant to this research. The purpose of this study is to find out how much influence the QR Code is used in the mosque for giving alms. It is hoped that the QR Code technology used in this mosque can increase the development and use of sharia fintech in Indonesia.

FinTech and financing constraints of enterprises: Evidence from China

Using a sample of China's A-share listed companies from 2011 to 2018, this research examines the impact of financial technology (FinTech) on financing constraints experienced by enterprises. Results show that the development of FinTech can significantly reduce firms’ financing constraints, and this effect is partially mediated by facilitating firms’ direct and indirect financing, and by promoting inter-bank competition. The mitigating effect of FinTech is more pronounced in non-state-owned enterprises, in small- and medium-sized enterprises, and enterprises in the more highly developed eastern region of China. The direct mitigating effect of FinTech on reducing financing constraints is stronger for companies with a higher level of innovation or a lower level of social responsibility performance. Theoretical and practical implications of our findings are discussed.

Fintech as a Financial Disruptor: A Bibliometric Analysis

The present-day financial system is being influenced by the rapid development of Fintech (financial technology), which comprises technologies created to improve and automate traditional forms of finance for businesses and consumers. The topic of Fintech as a financial disruptor is gaining popularity in line with the swift spread of digitalization across the banking industry, whereby this paper contributes to the field by presenting a novel bibliometric analysis of the academic literature related to Fintech as a financial disruptor. The analysis is based on metadata extracted from the Scopus database through the VOSviewer and Biblioshiny software. The bibliometric analysis of 363 documents identifies the most impactful sources of publication, keywords, authors, and most cited documents on the topic of Fintech as a financial disruptor. As our analysis demonstrates, the number of publications on the given topic is increasing, indicating both interest among academia and potential for future research.

Trends in the development of the sharing economy: Index analysis

Aim. The presented study aims to assess the impact of modern development trends on the sharing economy.Tasks. The authors analyze the development of the sharing economy across different periods; formulate and test hypotheses about the impact of technological and social trends on the development of the sharing economy; substantiate the division of the examined period into four stages; describe the revealed patterns using single factor regression models.Methods. The study includes four stages: data selection and processing, trend elimination and division of the analyzed stage into periods, verification of the formulated hypotheses for each of the periods, and quality control of the obtained models. The information basis of the study includes a list of thematic indexes calculated by the Indxx agency (USA).Results. During the identification of periods of development of the sharing economy, the influence of global events on the dynamics of the sharing economy is determined, which is confirmed by the dynamics of the values of the sharing economy index during the pandemic and postpandemic period. Testing of the hypothesis shows that the most significant factor for the development of the sharing economy is the development of fintech and decentralized finance. That said, in the period from October 2018 to December 2019, there is a correlation between the development of the sharing economy and companies whose activity is focused on generation Y.Conclusions. The revealed patterns confirm the leading role of digital technologies in the development of the sharing economy.

Influencing factors of employee brand equity from the perspective of FinTech.

Recent years have seen a heated discussion on what influences employees' recognition of enterprise brand equity among the psychological community. Some empirical evidence suggests that the brand equity of consumers and brand equity of sales are two categories that should be studied. However, more recent discussions have focused more on the former. In contrast, this study discusses the factors influencing brand equity based on the employee level. Moreover, this paper examines whether FinTech can help companies get out of financing difficulties and thus improve employees' brand equity recognition. This research illustrates how FinTech has become an essential driver of brand equity value. Based on micro panel data on enterprises from 2011 to 2019, we analyze the transmission mechanism between the two factors and the mediating role of financing constraints. FinTech's development promotes employees' recognition of corporate brand equity, and financing constraints are an essential transmission path between the two factors. Furthermore, the impact of financing constraints on employee brand equity identity is characterized by cross-regional economic heterogeneity. In contrast, the development of FinTech characterizes the cross-enterprise heterogeneity in employees' recognition of brand equity value. Altogether, this study demonstrates the promising application of FinTech in influencing the mechanisms of employee brand equity.

FinTechs and financial inclusion—Balkan experience: Digital perspectives on financial markets

AbstractThe article aims to identify the stage of development of Fintech in the Balkan countries given the existence of numerous influencing factors Fintech is present in the Balkan countries, with a landscape colorfully generated by the different factors as the involvement of public authorities, the EU membership of only a few countries, the level of financial and digital education of the population. In order to highlight the variables influencing Fintech and financial inclusion in selected countries, specific indicators were used—internet usage and the share of bank assets in GDP, and several indicators regarding individuals performance, that is, online shopping, paid bills via internet, accessed a bank account online, paid utility bills using a mobile phone, made or received digital payments, account ownership and debit card ownership. The sample consists of all eight Balkan countries: Slovenia, Croatia, Bosnia and Herzegovina, Serbia, Montenegro, Albania, Macedonia, Bulgaria, and Romania. For testing the hypothesis in the analysis are used: descriptives, ANOVA, cluster analysis and principal components analysis. The results demonstrated that Balkan countries are not homogenous regarding Fintech and financial inclusion, the differences being generated both by the public policies in the financial field but also by IT development and by the population openness for using the new financial services and products. For these reasons, the authors identified economic policy measures that can be applied to increase financial inclusion in these countries given the facilities offered by Fintech and the digitization of financial products.

Does Fintech facilitate cross-border M&As? Evidence from Chinese A-share listed firms

This paper examines whether and how financial technology (Fintech) affects the cross-border M&A decision-making and the performance of acquiring firms. Using a sample of Chinese A-share listed firms over the period of 2011–2019, we find that local Fintech development effectively facilitates firms' cross-border M&A activities. This effect is more prominent for firms with lower innovation capability, with higher profitability, and those in key participant provinces of the Belt and Road Initiative. We provide evidence that Fintech supports the decision-making of cross-border M&As due to the mitigation of financing friction and the decrease in information disadvantage. Further analysis also shows that the acquirer's cross-border M&A performance is higher when it is located in a province with better development of Fintech. Our paper provides new insights into the impact of technology-enabled innovation in the financial industry on the behavior of firms in non-financial industries.

Does the fintech create value? A textual analysis of commercial banks in China

ABSTRACT The rapid development of fintech has significantly impacted the traditional financial market and brought technological opportunities for commercial banks. In this context, based on a sample of 36 Chinese commercial banks from 2003-2019, this paper empirically investigates the impact of fintech on the performance of commercial banks through textual analysis. The results show that the effects of fintech on commercial banks’ performance are mixed, where technology basis has a significant negative impact on performance, and electronic payment can enhance commercial banks’ earnings. In addition, both the negative effect of technology basis and the positive effect of electronic payment on commercial bank performance are more substantial on non-state banks and, at the same time, national banks.

The Impact of Payment Innovation on Narrowing the Urban-rural Gap

With the rapid development of fintech, mobile payments is rapidly being widely used in China. As a financial and economic connection point, vigorously developing the payment system is the inevitable choice to narrow the gap between urban and rural areas. Based on this, this study attempts to establish a random effect model in panel regression to analyse the impact of the development of third-party payment on the urban-rural income gap of 31 provinces and municipalities from 2013 to 2020 in China. The results show that the growth of third-party payment scale has a positive effect on narrowing the urban-rural income gap. Therefore, this paper suggests that increasing the construction of rural mobile payment is of great significance to improve farmers’ income. And finally puts forward the specific path of mobile payment construction.

Can FinTech improve corporate environmental, social, and governance performance?—A study based on the dual path of internal financing constraints and external fiscal incentives

The fulfillment of ESG responsibility by enterprises is crucial to achieving China’s “double carbon goal” and the sustainable development of the whole society. However, ESG development is facing financing constraints and information asymmetry, while the rapid development of fintech supports ESG development to improve quality and efficiency. Therefore, it is crucial to study the impact of fintech on corporate ESG development. Can financial technology (FinTech) “empower” traditional financial institutions with technology to improve corporate ESG performance? Based on this, this paper examines the relationship between regional FinTech development and corporate ESG performance and its underlying mechanisms from internal and external perspectives, using data from Chinese A-share listed companies from 2011 to 2020. The following were found: 1) The level of regional FinTech development significantly contributes to firms’ ESG performance, and the results remain robust after mitigating endogeneity using Bartik instrumental variables and difference-in-differences model estimation. 2) Mechanistic analysis finds that FinTech not only alleviates the internal financing constraints of firms, but also enhances the external government subsidies and tax rebates of firms. These significantly contribute to the improvement of firms’ ESG performance. 3) Heterogeneity analysis shows that the contribution of FinTech to improving corporate ESG performance is more pronounced in the eastern region, mature firms and firms with CEOs with unbanked financial backgrounds. Therefore, in the context of sustainable development, we should continue to promote the development of FinTech, use modern technology to “empower” finance, and help enterprises balance economic and social benefits to build a sustainable country.

Why we hide good deeds? The selfless and anonymous donation behavior in crowdfunding

Donation has an important role in bridging the rich and poor gap and maintaining social stability. With the development of Fintech, selfless support in crowdfunding has become a new channel of donation. This paper uses Python to capture the data from ZhongChou.com and studies the donation behavior in crowdfunding. The results of our study show that the higher financing performance of a crowdfunding project is the result of the higher number of people who support the crowdfunding project selflessly and anonymously. The donation behavior of crowdfunding investors stems from social needs and thus shows the characteristics of “pro-sociality”. The anonymous donation behavior matches the specific target audience through signal burying. Further research shows that the impact of donation behavior on financing performance is significantly heterogeneous. In agricultural and public welfare projects, the effect of selfless donation and anonymous donation on financing performance is more significant. The donation behavior prompts the crowdfunding project to complete the financing target more quickly and get more time for over-funding.

ISLAMIC ECONOMIC DEVELOPMENT IN INDONESIA THROUGH THE IMPLEMENTATION OF SHARIA FINTECH

The existence of technological developments strongly influences community life in Indonesia. On the economic side, the presence of sharia fintech will make it easier for the Indonesian people to have funds in emergencies easily and quickly. The purpose of carrying out this research is to be able to analyze how the development of sharia fintech in terms of Islamic economic law in Indonesia. This research will be conducted utilizing a qualitative methodology. The data used in this study originated from a variety of still-relevant prior studies. The conclusion that has been found in this study is that Islamic economic law has a developmental position that is parallel to other conventional economic laws. As for the implementation of sharia fintech, there are conveniences that borrowers will accept, such as no need to meet face to face and easy fulfillment of financial requirements following Islamic economic law.

FINANCIAL TECHNOLOGY AND SHARIA COMPLIANCE REGULATIONS IN ISLAMIC BANKING IN INDONESIA

Purpose: The purpose of this study is to analyze the FinTech phenomenon and compliance with sharia regulations in Islamic banking in Indonesia. Use of research as information for regulators, Islamic banking, and other stakeholders in compiling compliance regulations as an element of supervision and optimal strategy to improve the quality of FinTech in Indonesian Islamic banking.Method: This research is a qualitative case study with literature studies related to the phenomenon of Sharia FinTech and Islamic regulations in Islamic banking in Indonesia.Results: The results of Yudaruddin's research (2022) stated that the better the economic conditions, the higher the potential for FinTech growth. Meanwhile, the results of Muryanto's research (2022) stated that apart from focusing on FinTech, Islamic banking is also required to maintain compliance with regulations, sharia principles, operational standards for sharia FinTech governance, and the Sharia Supervisory Board.Implication: With the existence of technology and the digital world, it will make easier life for human activities which can be accessed through any telecommunication media, anywhere, easy to use, and speeds up the process (Yudaruddin, 2022) . One of the outputs from the digital world is financial technology (FinTech). The development of FinTech can also be felt in Islamic finance where Islamic FinTech transactions in Indonesia in 2020 reached $2.9 billion in transaction volume and are the fifth largest transaction volume globally (Darmansyah et al., 2020; Muryanto, 2022; and Yudaruddin, 2022).Originality: This study looks directly at the FinTech phenomenon and compliance with sharia regulations in Islamic Banking in Indonesia which will be able to make good corporate governance of Indonesia Islamic Banking. Considering that there are not too many study at FinTech and sharia compliance in Indonesia Islamic Banks.

E-Commerce Growth and Development, Impact, and Challenges in Indonesia

This paper focused on how e-commerce growth and development, impact, and challenge in Indonesia. This topic is quite interesting to discuss simply because digital law and business are quite new to Indonesian lawmaker. Overall, this paper also shows how the e-commerce regulation shape Indonesia digital trade law. Besides that, some of discussion also talk about how financial technologies provider involved on e-commerce growth. It is true that most e-commerce in Indonesia cooperates with fintech in terms of payment services. The growth and development of fintech somehow help e-commerce to grow and evolve. It is also important to discuss how the law support the e-commerce. Most of law area cover information and electronic transaction, intellectual property, and consumer protection. Not only that, but this paper also shows a real case involved three main e-commerce in Indonesia involving Go-Jek (ride-shared services and food deliveries platform), Tokopedia (marketplace), and Traveloka (travel and leisure). Finally, we also see how the main challenges such us human resources, funding, and cybersecurity will impact the e-commerce growth and development in Indonesia.

SHARI’A COMPLIANCE PRINCIPLES IN FINANCIAL TECHNOLOGY

Currently in Indonesia, financial technology (fintech) services have developed rapidly. The development of fintech in Indonesia has been responded positively by several regulations issued by the Financial Services Authority (OJK) and Bank Indonesia (BI). In addition to conventional fintech, sharia fintech in Indonesia has also begun to develop significantly, especially since the DSN-MUI fatwa on Sharia Information Technology-Based Financing Services (Fatwa No.117/DSN-MUI/IX/2018). Although sharia fintech has begun to develop, OJK has not fully accommodated the DSN-MUI Fatwa as a binding regulation. The DPS institution as a supervisor for Islamic financial institution entities as well as for start-ups such as fintech that operates according to sharia must follow the regulations that have been decided by the DSN-MUI so that these entities can operate in sharia and this is part of compliance with sharia compliance). This study investigates the Shariah compliance status of financial technology services. The research method used is the library research method with a literature review approach. The results of the study show that currently fintech operating in sharia still needs stronger legal instruments so that compliance with sharia is truly carried out comprehensively and not only applies a kind of label that is run by sharia, so that the existence of fintech and customer trust (consumers can be maintained.

The Roles of FinTech with Perceived Mediators in Consumer Financial Satisfaction with Cashless Payments

The purpose of this paper is to investigate the association between FinTech payments and consumer financial satisfaction with cashless payments using data from the 2017 China Household Finance Survey. This study defines computer payment and mobile terminal payment using a cell phone or pad as payments with FinTech. The results indicate that payments with FinTech are positively associated with financial satisfaction with cashless payments. Furthermore, this result holds in the eastern and central groups of China, but not in the western group, where payments with FinTech are not associated with financial satisfaction with cashless payments. Similarly, the positive association does not hold for consumers with low financial literacy. Moreover, analyses on the mediating effects imply that payments with FinTech play roles through three perceived mediators. Specifically, payments with FinTech help increase consumers’ perceived convenience and perceived popularity as well as reduce perceived risk, which eventually improves financial satisfaction with cashless payments. These findings have implications for consumer policymakers, such as improving the development of FinTech, noticing the heterogeneity in terms of location, and guiding consumers to correctly understand the risks associated with FinTech. Surrounding this issue, future studies may also explore other mediators related to psychology and expand the connotation of Fintech from payments with FinTech to lending and portfolio investments with FinTech.