Transaction Efficiency Research Articles

THE INNOVATIVE TRANSFORMATION IN THE RA BANKING SYSTEM

The analysis shows that the innovative transformation in the banking system of Armenia is a multi-level process that has a significant impact on the entire financial sector of the country. One of the key aspects of this transformation is the deep integration of modern technology into banking. This not only facilitates the interaction of customers and banks, but also increases the level of transparency and efficiency of financial transactions. The innovation of the RA banking system contributes to the expansion of access to financial services, enabling more people to use financial services, especially where they were previously limited. It was concluded that innovations and technological developments enable the banking system to provide faster, safer and more convenient services, reduce human errors and improve the efficiency of processes. New technologies improve the level of security. All of this is leading to greater competition in the banking industry, new ways of working and strategies, and overall improvements in customer service and financial operations (Egorova, A., A., (2015). But they also present new challenges, such as data protection and security issues, as well as the need to use new technologies.

Advancing financial inclusion through digital payment platforms in emerging markets

Advancing financial inclusion in emerging markets has become a critical focus for economic development, and digital payment platforms are playing a transformative role in this process. These platforms offer a scalable solution to bridge the gap between the unbanked population and formal financial services, enabling individuals and businesses to access affordable and secure financial products. The rise of mobile technology and widespread internet penetration have provided the infrastructure for digital payments to thrive, particularly in regions where traditional banking systems are underdeveloped. Key enablers include mobile money services, fintech innovations, and supportive regulatory frameworks that promote adopting digital financial solutions. Digital payment platforms facilitate faster, more efficient transactions, reduce the reliance on cash, and open up opportunities for marginalized groups, including women and small business owners, to participate in the formal economy. They also enhance financial literacy by offering accessible financial education tools, which empower users to manage their finances more effectively. However, challenges such as limited digital literacy, regulatory barriers, cybersecurity risks, and the digital divide must be addressed to maximize the potential of these platforms. Emerging markets have witnessed significant success stories, particularly in Africa and Southeast Asia, where mobile money platforms like M-Pesa and GCash have expanded financial access to millions. These platforms contribute to financial inclusion and stimulate economic growth by integrating more people into the financial system. Moving forward, collaborative efforts between governments, private sector stakeholders, and development organizations are essential to ensuring that digital payment platforms continue to drive financial inclusion sustainably and equitably.. Keywords: Financial Inclusion, Digital Payment Platforms, Emerging Markets, Mobile Money, Fintech, Unbanked Population, Economic Development, Financial Literacy, Digital Financial Services, Mobile Technology.

Evaluating Cash Versus Digital Payment Methods in Global E-commerce

This research examines the roles of cash and digital payment methods in global e-commerce, focusing on transaction efficiency, security, and consumer preferences. While digital payments like credit cards and digital wallets offer convenience and speed, cash remains crucial in regions with limited technology due to its universal acceptance and privacy benefits. Despite growing digital payment adoption, cultural factors still favor cash in certain areas. The paper concludes that a balanced approach, integrating both payment methods, is essential for businesses to cater to diverse global consumer needs.

Foreign Portfolio Investment and Capital Market Development in Nigeria

This study investigates the impact of foreign portfolio investment (FPI) on the development of the Nigerian capital market from 1986 to 2023, addressing challenges such as exchange rate volatility and inadequate technological advancement. The research aims to explore the following questions: What is the relationship between foreign portfolio investments and capital market development in Nigeria? How do exchange rate volatility influence the capital market development in Nigeria? What role do technological advancements play in enhancing market performance and attracting foreign investors? Data were sourced from the Central Bank of Nigeria Statistical Bulletin and the National Bureau of Statistics. A quantitative methodology was employed, utilizing the Johansen co-integration test, Vector Error Correction Model (VECM), and Granger causality test to analyze secondary time-series data. The Johansen co-integration test revealed a long-run relationship among the variables, while the VECM indicated that FPI negatively impacts market capitalization. Additionally, the Granger causality test demonstrated unidirectional causality from capital market development to FPI. To address the identified challenges, the study recommends that policymakers create a more supportive environment that ensures foreign investors can repatriate capital and earnings. The government should prioritize exchange rate stability that reflects market realities to enhance investor confidence. Investments in advanced technology are crucial to improving efficiency and accountability in market transactions. By adopting these targeted recommendations, Nigeria can better leverage FPI to foster capital market growth and promote sustainable economic development. JEL Codes: G15, O16

DC-SoC: Optimizing a Blockchain Data Dissemination Model Based on Density Clustering and Social Mechanisms

Due to its partially decentralized and highly scalable features, the consortium blockchain has currently overtaken other blockchain technologies as the one most frequently used and studied across various industries. However, performance issues such as low transaction efficiency and redundant communication processes continue to hinder the development of consortium blockchains. In the Hyperledger Fabric consortium blockchain system, transaction efficiency is largely influenced by the consensus protocol and broadcast protocol. This paper introduces a novel consortium blockchain network model, DC-SoC, focused on optimizing broadcast protocols. By incorporating the concept of density clustering, a stable propagation structure is established for the blockchain network, thus optimizing data dissemination in the Gossip protocol. Additionally, the concept of social networks is integrated, using trustworthiness scores and economic incentives to evaluate node security. The experimental results demonstrate that when DC-SoC is applied in a large-scale consortium blockchain environment, it significantly improves communication performance between nodes and ensures transmission reliability.

Financial Technology Analysis on the Development of Micro Business in the Sei Sikambing B Market, Sub-District Medan Sunggal City of Medan

The aim of this study is to identify the influence of financial technology (Fintech) on the development of micro-enterprises in the Sei Sikambin B market, Medan Sunggal District, Medan City. MSMEs, which consist of micro and medium businesses, have a large share in economic activities. The study used a quantitative descriptive method through the use of linear regression analysis techniques.E-Wallet, Income, Financial Satisfaction, and Financial Technology (Fintech). The results of the study indicate that PEOU, Financial Satisfaction, Income, and Fintech have a significant influence on the development of micro-enterprises, while E-Wallet does not show a significant influence. This study underlines the importance of fintech in increasing efficiency and satisfaction in MSME transactions, as well as the need for supervision to optimize the benefits of financial technology for micro-entrepreneurs

Design and Development of a Mobile E-Wallet Management Prototype Using NFC Technology

In the era of digitalization, the need for innovation in financial management has become increasingly urgent. With the emergence of E-wallets as a digital payment solution, the efficiency and security of transactions have become primary focuses. Therefore, this research plays a crucial role in presenting an innovative solution by designing and developing a mobile application prototype that integrates E-wallet management with Near Field Communication (NFC) technology. The urgency of this research is highlighted by the increasing use of E-wallets, which indicates that digital financial solutions are gaining wider acceptance in society. In this context, the integration of NFC becomes relevant as it offers higher security and enables more efficient transactions. This study aims to address the growing market demand for digital payment solutions that are fast, secure, and user-friendly. The objective is to design and develop a mobile application prototype that not only simplifies E-wallet management but also leverages the advantages of NFC technology. The goal is to provide users with a more convenient and secure transaction experience. Thus, this research is expected to increase the adoption of E-wallets among the general public. The result of this research is a mobile application prototype integrated with NFC technology for E-wallet management.

Implementation of point of sales at Kopi Lentera using agile methods and scrum framework

Implement Point Of Sales (POS) at Kopi Lentera using Agile and Scrum Framework methods to improve transaction efficiency and accuracy and customer service quality. The purpose of this research is to improve efficiency in the transaction process, reduce errors, and improve customer relations by offering more responsive services through the design of a web-based POS system. The Agile method and Scrum Framework are utilized for managing the development process to ensure speed and adaptability to change. The data collection process is carried out by observation, interview, and literature study. Then the implementation of the device will be tested with the System Usability Scale (SUS) conducted on 10 respondents through a questionnaire. The study concludes that applying the agile-scrum method can result in the development of a POS system that meets the needs with a shorter development time. The implementation results show an increase in the efficiency of recording and transactions, as well as improving the quality of customer service.

The Current Status of Digital Currency Development in China

Abstract: Digital currencies, as innovative products in the field of financial technology, are characterized by their decentralized structure and strong encryption based on blockchain and other technologies. Although your mention of relying on local area networks may be a bit of a misnomer in the broad sense, as the operation of digital currencies relies more broadly on the Internet rather than a single local area network, the concepts of digital encryption and decentralization it emphasizes are accurate. Legal digital currencies, such as the Digital Currency Electronic Payment (DCEP) issued by the People's Bank of China, represent a milestone in this field. They not only integrate the security and transparency of blockchain technology but also achieve a perfect combination of controllable anonymity and legal tender status through the deep integration of the generalized account system with the banking system. The issuance of DCEP marks an important step forward for China in the field of digital currencies and is expected to have a profound impact on the financial market, promoting the modernization and upgrading of the payment system, enhancing transaction efficiency and security, and at the same time, providing the public with more convenient and secure payment options, further integrating into and changing people's daily lifestyles.

Digital payment systems in an emerging economy

This study investigates the factors influencing the adoption of digital payment systems in Cambodia, employing a quantitative approach with 359 Cambodian participants. The research integrates concepts from the Technology Acceptance Model (TAM) and the Theory of Planned Behavior (TPB) to explore the relationships between perceived ease of use (PEU), perceived usefulness, public attitudes, perceived behavioral control, financial literacy, and the adoption of digital payment systems. Using Partial Least Squares Structural Equation Modeling (PLS-SEM), the study identifies a significant positive relationship between PEU and attitudes toward digital payment systems, corroborating the TAM's assertion that ease of use is a crucial determinant in technology acceptance. The findings also highlight the critical role of perceived usefulness, extending its implications to include convenience, security, and transactional efficiency. The study underscores the influence of public attitudes and perceived behavioral control on adopting digital payment systems, particularly in an emerging economy. In addition, it reveals the impact of financial literacy, not only as a determinant of adoption but also as a mediator in the relationship between public attitudes and adoption. Behavioral nudges are also identified as significant influences in this context. The research contributes to understanding digital payment adoption in emerging markets. It provides digital financial technology insights for practitioners, policymakers, and educators.

A Study of Property Intrinsic Value Prediction Based on Machine Learning Modeling

When purchasing goods, buyers consistently prioritize the fairness of the price to make informed decisions, particularly for high-value items. This consideration becomes even more crucial in the real estate market, where verifying the fairness of a property's asking price through conventional methods can be challenging. This study addresses this issue by aiming to develop a functional predictive model that can estimate a property's intrinsic value using various machine learning techniques. By analyzing the California Census Data published by the US Census Bureau, this research investigates the potential for determining a property's intrinsic value based on readily available information about the block in which the property is situated. The study's objective is to create a model that provides accurate and reliable property valuations, helping buyers make more informed decisions and promoting transparency in the real estate market. This model leverages demographic, economic, and housing data from the census to predict property values, potentially transforming how properties are appraised and traded. By offering a method to verify asking prices, the research seeks to enhance fairness and efficiency in real estate transactions, providing a valuable tool for buyers, sellers, and real estate professionals alike.

Quantitative Finance and Information Technologies: A Comparative Analysis of Quantitative Trading and Cryptocurrency and Their Regulatory Challenges

As technology has improved in the last decade, financial institutions have developed new technologies, including quantitative trading and cryptocurrency, to enhance their financial products and services. This paper first provides a brief background of quantitative trading and argues for the transactional efficiency of quantitative trading over traditional trading practices; it characterizes quantitative trading as fast and precise. Meanwhile, the study also accounts for the regulatory concerns–including data leakage and platform security–that quantitative trading firms may encounter. This study then establishes a distinction between cryptocurrency and quantitative trading–the former is money-driven, and the latter is data-driven. This paper then discusses the speculative nature of cryptocurrency and addresses its financial concerns citing the FTX collapse. Overall, this paper establishes the argument that quantitative trading supported by technological experts and facilitators offers more advantages than disadvantages compared to cryptocurrency trading. This research concludes that since quantitative trading and cryptocurrency trading are conducted without consideration for international boundaries, they offer bold financial potential as alternatives to traditional banking practices, as long as specific international financial laws are complied with.

Impact of digital transformation on financial stability in emerging markets: evidence from Ethiopia

This insightful study delves into the intricate relationship between key digital finance adoption indicators and the stability of the banking sector in Ethiopia, an emerging economy undergoing rapid digitalization. Covering annual data from 1991 to 2022 and utilizing an autoregressive distributed lag (ARDL) approach alongside Fully Modified Ordinary Least Squares (FMOLS) and Dynamic Ordinary Least Squares (DOLS) techniques, the researchers uncover thought-provoking findings that challenge conventional wisdom. Contrary to expectations of a positive long-term association, the analysis reveals a statistically significant negative relationship between both internet usage and mobile phone subscriptions and Ethiopia's banking system's financial stability. This robust result, validated through rigorous robustness checks, suggests that the breakneck pace of digital transformation may outpace the development of robust regulatory frameworks and risk management practices, ultimately undermining the overall stability of the financial sector. Interestingly, the short-term analysis presents a more nuanced picture, with mobile phone subscriptions exhibiting a stabilizing effect in the immediate aftermath. This intriguing dichotomy highlights the complex and evolving dynamics at play, where the challenges of integrating digital finance with the traditional banking infrastructure and the persistence of informal financial activities potentially offset the benefits of enhanced financial inclusion and transaction efficiency. These thought-provoking findings carry crucial implications for policymakers and industry stakeholders navigating the digital revolution. Policy implications emphasize the need for robust regulatory frameworks, enhanced cyber security measures, and improved financial literacy. The findings underscore the importance of a nuanced approach to digital finance in emerging economies, advocating for continuous adaptation of policies to address the evolving landscape of financial technology. Continued inquiry can better guide policies that foster digital transformation while safeguarding stability, especially in rapidly developing regions like sub-Saharan Africa.Graphical

Analyzing Common Trade Risks Faced by Tanzanian Traders in International Transactions: A Case Study of Dar es Salaam Importers and Exporters

International trade is fraught with inherent risks that can significantly impact the efficiency and success of cross-border transactions. Tanzanian importers and exporters, particularly those navigating the complexities of the Dar es Salaam port, face challenges such as shipment delays, vague contract terms, and financial disputes. This study delves into how the strategic application of International Commercial Terms (Incoterms) serves as a powerful risk management tool, offering clarity and structure to international trade agreements. Utilizing a descriptive research design, we surveyed 96 traders and conducted in-depth interviews to capture their experiences with trade risks and their understanding of Incoterms. The findings reveal a widespread gap in formal training on Incoterms, leading to frequent logistical issues and contractual ambiguities that could otherwise be mitigated. This research highlights the urgent need for targeted educational programs to enhance traders’ knowledge of Incoterms and improve the overall efficiency of Tanzania’s trade environment. By embracing these standardized terms, Tanzanian traders can transform risks into opportunities, positioning themselves as key players in the global trade ecosystem. The study concludes with actionable strategies for improving Incoterm adoption and presents a roadmap for strengthening Tanzania’s competitive edge in international commerce.

When two chains meet: Optimizing the design of blockchain-enabled supply chain networks

Applications of the blockchain technology are rapidly emerging across sectors. By redefining information flow, blockchain technology promises to instill trust among supply chain members, improve transaction efficiency, thus reshaping the structure and configuration of supply chains. The practical exploratory use of blockchain has shown immense potential in supply chain management. In order to explore the new changes brought by blockchain technology to supply chain network design issues, this study focuses on the supply chain network design problem in the context of blockchain technology. Specifically, we consider a supply chain network comprised of a number of distribution centers (DCs) and retailers. The operation of this physical network is supported by blockchain-based information infrastructure. As the interrelated relationship between these two networks, it is necessary to optimize them simultaneously to improve the profitability and information exchange level. We propose an objective function based on previous studies to maximize the profits of the entire supply chain network, with decision variables including DC locations, retailer assignment, inventory replenishment policy, and blockchain adoption level. At the same time, to characterize the interrelation between the two networks, the demand and certain cost parameters of the model become endogenous depending on the blockchain adoption level, which significantly increases the complexity of the solution algorithm. We reformulate the model and use the polymatroid cutting plane approach to address this issue. We conducted calculations and numerical analysis. The computational results show that the proposed method can solve practically sized problems, and integrating blockchain design reduces the system-wide cost. We discuss managerial insights based on a range of numerical studies and solve a case study using publicly available instance data.

Blockchain in Agro-Industrial Complex

Abstract The article reviews the available projects and programs using digital technologies and the results of their adaptation in agriculture and specifically in the agro-industrial complex. Tokenization makes any production sector attractive and transparent for investment. The blockchain enables an investor to understand and estimate where the money is invested and what the result will be, how large the final profit will be and whether there will be an additional investment income from the agribusiness. Most of the initial efforts in blockchain in agribusiness are trackable achievements. The authors point out that it is possible to create an efficient supply chain that provides full product serviceability and improves the transactions efficiency by using modern digital technologies. It is about improving margins by reducing bureaucracy and supporting continuity of business problem-solving with blockchain. In doing so, blockchain provides all stakeholders with a common source of reliable information for the agro-industrial and logistics chain.

Trustworthy V2G scheduling and energy trading: A blockchain-based framework

The rapid growth of electric vehicles (EVs) and the deployment of vehicle-to-grid (V2G) technology pose significant challenges for distributed power grids, particularly in fostering trust and ensuring effective coordination among stakeholders. Establishing a trustworthy V2G operation environment is crucial for enabling large-scale EV user participation and realizing V2G’s potential in real-world applications. In this paper, an integrated scheduling and trading framework is developed to conduct transparent and efficacious coordination in V2G operations. In blockchain implementation, a cyber-physical blockchain architecture is proposed to enhance transaction efficiency and scalability by leveraging smart charging points (SCPs) for rapid transaction validation through a fast-path practical byzantine fault tolerance (fast-path PBFT) consensus mechanism. From the energy dispatching perspective, a game-theoretical pricing strategy is employed and smart contracts are utilized for autonomous decision-making between EVs and operators, aiming to optimize the trading process and maximize economic benefits. Numerical evaluation of blockchain consensus shows the effect of the fast-path PBFT consensus in improving systems scalability with a balanced trade-off in robustness. A case study, utilizing real-world data from the Southern University of Science and Technology (SUSTech), demonstrates significant reductions in EV charging costs and the framework’s potential to support auxiliary grid services.

Harnessing blockchain technology in banking to enhance financial inclusion, security, and transaction efficiency

This paper examines the potential of blockchain technology in revolutionizing the banking sector by enhancing financial inclusion, security, and transaction efficiency. With traditional banking systems often excluding underbanked populations and being prone to security vulnerabilities, blockchain offers a decentralized and secure alternative. The study explores how blockchain can lower barriers to financial services for underserved communities, reduce fraud, and streamline transaction processes. The research methodology includes a comprehensive review of existing literature, case studies of early blockchain adopters in banking, and an analysis of the technology's scalability and integration challenges. Key findings indicate that blockchain can significantly improve financial inclusion by providing accessible banking solutions, especially in developing regions. Additionally, its cryptographic security features are shown to mitigate risks associated with cyberattacks and fraud, while smart contracts and peer-to-peer transactions reduce operational costs and processing times. However, the paper also highlights potential regulatory hurdles and the need for robust governance frameworks to ensure widespread adoption. The study concludes with strategic recommendations for banks and financial institutions on implementing blockchain technology, emphasizing the importance of collaboration with regulators and the continuous evolution of blockchain infrastructure. Future prospects include the integration of blockchain with emerging technologies such as artificial intelligence and the Internet of Things (IoT), which could further enhance the capabilities of financial institutions. This paper underscores the transformative impact of blockchain on banking, offering insights into strategies that organizations can adopt to stay competitive and inclusive in a rapidly changing financial landscape.

KEY DRIVERS AND CHALLENGES FOR THE ADOPTION OF MOBILE BANKING APPLICATION

There has been huge development seen in Mobile Banking application over the few years in India. For faster and more efficient transactions, buyers are switching to Mobile Commerce. Mobile Trade is in huge demand as it is easily incorporating in this innovative market .When we talk about cell phones these days; they are not utilized for sending or receiving messages. It has become as source of exchange and online trading business. An effort has been made in this work to ascertain the various elements that affect the reception concerning Mobile Banking in respective of Mobile Commerce. The tremendous growth in the mobile devices in India reveals that the majority of Indians have adapted to cell phones and its innovations. Using a portable device is not restricted for calling, informing, and recreations but it is being practically utilized by an individual, private, business or any other entity. Due to security concerns and attentiveness, most people conduct Mobile Commerce through E-trade. Article sheds light on the various challenges and the key drivers which influence a common individual towards the adoption of mobile banking applications, which is a key for the expansion and survival of any mobile commerce in near future. Mobile Banking plays a crucial role in Promotion of Mobile commerce in the dynamic and flexible era which is the key requirement of any business market, in order to sustain and survive for future course of action. The method used for this Research is secondary and research is exploratory and quantitative.

Revolutionizing the Banking Industry: The Impact of Blockchain Technology on Financial Services

Blockchain technology represents a significant innovation with far-reaching implications across multiple industries, having initially emerged as the backbone of Bitcoin to enable secure, decentralized digital transactions. Its decentralized structure, which replaces centralized databases with multiple shared copies across nodes, enhances security and reduces the risk of data breaches. Despite its growing use in banking, finance, supply chains, and other sectors, a gap exists in fully understanding its transformative potential in improving business processes. This research aims to analyze blockchain’s impact on the security, efficiency, and transparency of digital transactions. By employing a comparative analysis of blockchain applications across industries, we find that its decentralized, encrypted ledger system significantly reduces fraud risk and improves transactional efficiency. These results highlight blockchain’s role as a critical tool for future digital economies, with broader implications for enhancing trust and security in various sectors.