Evolution Of FinTech Research Articles

Factors Determining the Acceptance of E-Wallet among Gen Z from the Lens of the Extended Technology Acceptance Model

E-wallets are one of the breakthroughs brought forth by the evolution of FinTech, which has been accentuated by the global outbreak of COVID-19. Therefore, it is critical to comprehend the factor of e-wallet acceptance. As this technology advances, substantial knowledge and research gaps become apparent. Previous studies on e-wallet acceptance have overlooked the importance of motivation and self-efficacy. There is a dearth of focus on certain age groups, such as Gen Z, which is currently the trendsetter of new technologies. This study aims to close the gaps regarding the lack of focus toward Gen Z, motivation, and self-efficacy in understanding e-wallet acceptance by combining the Technology Acceptance Model (TAM) with Self-Determination Theory (SDT), Self-Efficacy (SE), and Digital Media Self-Efficacy (DMSE) to fully understand the factors influencing e-wallet acceptance among Gen Z, using 233 samples to test 16 hypotheses derived from the identified research and knowledge gaps. External Regulation (ER), SE, and DMSE are the determinants of acceptance, according to Structural Equation Model analysis conducted. Mediation analysis reveals that Attitude toward Use (AT) is the full mediator of Perceived Usefulness (PU) and Perceived Ease of Use (PEU). The quintessential outcome of this research is the Model of E-Wallet Acceptance among Gen Z, which is significant for FinTech industries looking to strategically roll out e-wallet initiatives as well as a point of exploration for numerous future academic research and development.

The Revolutionized Finance Sector with Reference to Fintech Industry in India

Fintech is the newest buzzword in the financial industry. The most recent evolution of Fintech, driven by startups, presents challenges for market participants and regulators alike, particularly in balancing the potential benefits of innovation with the potential risks of new financial sector approaches. Traditional financial institutions now use fintech. The expanding technology advancements in the financial sector are referred to as fintech. The banking sector is progressively being shaped by fintech. The adoption of fintech, the fintech news network, the structure of the Indian fintech industry, fintech startups in India, and fintech trends in India are all examined in this research study. In order to improve customer experience, stimulate acceptance and utilisation of the digital channel, and minimise operational friction, Indian FinTech companies might solve some of the crucial structural concerns plaguing Indian financial services. When banks try to catch up to these more agile and innovative start-ups, their legacy-prone processes and higher operating cost models will provide digital FinTech startups an advantage. The opportunity for FinTech is in market expansion, influencing consumer behaviour, and bringing about long-term reforms in the financial sector.

A survey of AI in finance

ABSTRACT In recent years, the dramatically fast development of financial technology (fintech) has played an important role in the production, delivery and consumption of financial products and services. In this survey, we sum up the primary research discoveries in fintech area, which include the possible evolution of fintech’s effect on customer protection, prosperity and the discovery of the asset prices and returns, and the design of digital frameworks in the era of the fintech.

Fintech: A Literature Review

This article analyzes the Fintech evolution. After describing the process of this phenomenon, some of the main definitions are provided both nationally and internationally. Finally, six main models of Fintech are analyzed.
 
 Through a systematic literature, 14 articles have been selected that deal with the phenomenon of Fintech.
 
 Six Fintech business models implemented by the ever growing number of Fintech startups have been identified, payment, wealth management, crowdfunding, loan, capital market and insurance services. Internationally, Fintech has already been defined by the International Monetary Fund (IMF), the World Bank Group (WBG), the Financial Stability Board (FSB), the Organization for Economic Cooperation and Development (OECD), the International Organization of Securities Commissions (IOSCO), the Bank for International Settlements (BIS). On a national level, on the other hand, Fintech has been analyzed by various countries, USA, United Kingdom, Singapore, China, Switzerland, China, Australia and the European Union.
 
 Fintech refers to a broad set of innovations - observable in the financial field in a broad sense - which are made possible by the use of new technologies both in the offer of services to end users and in the internal production processes of financial operators as well as in the design of market enterprises, without thereby compromising new possible configurations of intersectoral activities.
 
 Fintech appears to be representative of innovative methods - based on technology - of carrying out activities directly or indirectly connected to financial services rather than being a pre-defined industrial sector. Following the logic of the digital economy, Fintech contributes to designing an open and continuous network of modular services for businesses, individuals and banking, financial and insurance intermediaries, becoming a powerful acceleration force for the integration policies of the financial services markets in the EU.

Fintech in Dubai: Development and Ecosystem

This paper focuses on Dubai’s positive attitude toward the digital transformation of the financial sector and the development of fintech due to the growth of financial technology. After a review of the fintech literature, the paper highlights Dubai’s dynamic financial ecosystem, including the diffusion of innovative digital technologies related to fintech. Among the main factors explaining the unstoppable growth of financial technology in Dubai are a flourishing of innovative fintech startups that have revolutionized the financial service sector, a private sector interested in partnering with financial ventures, an appropriate regulatory regime, and updated to the evolution of fintech, and supportive government policies. Regarding Dubai’s post-COVID efforts toward the digital transformation of the financial sector, the paper argues that the emirate’s fintech ecosystem represents a challenging paradigm for the business world.

FinTech as The Emerging Technologies in Banking Industry: Past, Present, and Future

In the last decade, it stated that the discourse and the role of Financial Technology (FinTech) as the emerging technology in the financial and banking industry attracted the attention of researchers, practitioners, regulators, and policymakers. Referring to the evolution of FinTech to date, FinTech influences business activities in the banking industry from the past, present, and future. In Indonesia, the opportunities and challenges for the emergence of financial technology in the banking industry are enormous. Therefore, analytical studies related to fintech in the banking industry in the past, present, and future are necessary. Based on these facts, this study aims to present a descriptive analysis of the emergence of FinTech which has had an impact on the banking industry in the past, present, and future, particularly in Indonesia, as a case study. This study uses a descriptive analysis research method and using qualitative method approaches. This descriptive analysis is carried out by critically analyzing various relevant scientific journals, the facts of the FinTech phenomenon in Indonesia, and documentation papers from banking institutions. This results analysis reveals what happened to FinTech as the emerging technology in the past, present, and future in the Banking Industry. The expected contribution of this study provides answers to opportunities and challenges related to FinTech and the banking industry in the past, present, and future in more depth.

Financial Technology in Indian Finance Market

The purpose of this paper is to discuss issues such as fintech drivers, shortcomings of traditional financial services, and the role of technological advancement. The paper also addresses issues concerning fintech investment and disruption. It refers to financial technology challenges such as investment management, customer management, and regulation. The paper examines the evolution of fintech in the global market over time.

FinTech as a Game Changer: Overview of Research Frontiers

Technologies have spawned finance innovations since the early days of computer applications in businesses, most recently reaching the stage of disruptive innovations, such as mobile payments, cryptocurrencies, and digitization of business assets. This has led to the emerging field called financial technology or simply FinTech. In this editorial review, we first provide an overview on relevant technological, pedagogical, and managerial issues pertaining to FinTech teaching and research, with a focus on market trading, artificial intelligence, and blockchain in finance. And then we introduce the articles appearing in this special section. We hope that our discussions of potential research directions and topics in FinTech will stimulate future research in the fields of information systems and finance toward making their unique marks in the FinTech evolution and the associated business and societal innovations.

FINTECH AND BANK: PAST, PRESENT, AND FUTURE

Financial Technology has long been applied to the financial and banking sectors until the emergence of financial technology innovation called FinTech. Referring to the evolution of FinTech until now, FinTech influences the Bank's activities from the past, present, and future. Based on these facts, this research aims to present a descriptive analysis of FinTech and Bank in the past, present, and future, especially in Indonesia as a case study. This study uses a descriptive analysis research method and using qualitative method approaches. This descriptive analysis is carried out by critically reviewing various relevant scientific journals, the facts of the FinTech phenomenon in Indonesia, and documentation papers from banking institutions. The results of this analysis reveal what happened to FinTech and the Bank in the past, present, and future. The contributions from this study can provide insight and understanding related to FinTech and banks in the past, present, and future more in-depth.

The FinTech Evolution and Its Effect on Traditional Banking in Africa—A Case of Zambia

The popularization of FinTechs has sparked new competition for banks as FinTechs are said to be more convenient, efficient and faster unlike bureaucratic requirements of financial institutions such as banks. The aim of this study was to assess the factors leading to adoption of FinTech financial services and how this affects traditional banking in Zambia. The objectives of the study were to evaluate factors influencing the adoption of FinTech financial services and to develop strategies that can help banks to remain relevant and competitive. The study adopted a quantitative research approach to collect data through self-administered questionnaires. The sample size was arrived at using the Cochran formula. The respondents were selected based on a convenient sampling technique which is a non-probability sampling method. The study adopted the diffusion of innovation theory whose variables were used to come up with hypotheses. The data collected through the questionnaires was analyzed using Pearson Correlation and the SPSS software. Results indicated a strong positive correlation of 0.450 between relative advantage and adoption. Further, the study shows that there is a strong positive correlation of 0.621 between Compatibility and Adoption. The study proposes a revised model that shows factors affecting adoption of an innovation that might help banks.

Financial Technology in Indian Finance Market

The purpose of this paper is to discuss issues such as fintech drivers, shortcomings of traditional financial services, and the role of technological advancement. The paper also addresses issues concerning fintech investment and disruption. It refers to financial technology challenges such as investment management, customer management, and regulation. The paper examines the evolution of fintech in the global market over time.

Global fintech entrepreneurship and its influencing factors: An evolutionary economic analysis

Fintech entrepreneurship has already influenced financial markets and their players worldwide in a disruptive, but also a risky way (Thakor, 2020; Zeranski & Sancak, 2020). In this context, it seems worthwhile to analyze which factors drive the design and development of global fintech entrepreneurship. Thus, the paper takes fintech-related research a step further by exploring the drivers of fintech evolution in different countries and continents that display different levels of fintech activity. For this purpose, first economic, technological, legal, and cultural factors influencing the development of fintech entrepreneurship are examined from an evolutionary point of view, and second, a generalized linear mixed model is used in order to evaluate the statistical relevance of these factors on fintech entrepreneurship more comprehensively. The analyzed data period from 2000 to 2017 also makes it possible to assess the influence of the dot.com bubble and the financial crisis on fintech entrepreneurship. The results of the empirical analysis suggest that the gross domestic product (GDP), regulatory burden, government tech procurement and the degree of individualism are important drivers of fintech startup activity. These findings help gauge the present and future market position of fintechs, leading to implications for entrepreneurs, competitors, and regulators alike.

An Eco-Systematic View of Cross-Sector Fintech: The Case of Alibaba and Tencent

This paper explores the most recent Fintech (financial technology) phenomenon from an ecosystem perspective. Differentiated from the earlier Fintech evolution led by traditional financial institutions, “cross-sector” Fintech that operates at the intersection of financial services and information technology disrupts existing business models of banks while creating novel ecosystem dynamics. This study explores the Fintech ecosystem composition to understand better business model innovation based on underlying ecosystem dynamics while focusing on the specific role of cross-sector actors. These actors have escaped scrutiny despite being mature and experienced and having strong resource bases. Adopting a comparative case study method by considering the China-based Alibaba Group and Tencent, the study’s findings indicate that novel business model developments based on strong technological expertise and scale-based resources by cross-sector Fintech render a functional perspective on fast-developing Fintech industry less practical. Apart from cross-sector Fintech, investors constitute a new dimension in the conceptualization of the Fintech ecosystem. Overall, the interconnectedness of the cross-sector Fintech beyond the Fintech sectors drives the fuzzy boundaries between ecosystems, established business models, terminology definitions, ecosystem actors’ roles and relationships, which appear to become more heterogeneous and changeable over time. The study contributes to the scant literature on Fintech ecosystems and their sustainable development.

The rise and role of FinTech for financial institutions: Why FinTech, and why now?

This paper explores the evolution of FinTech since its inception in the 1980s to its current state. The paper will focus on enterprise technologies that are either (i) designed specifically to combat issues that face financial markets or (ii) horizontal technologies with applications in the financial services ecosphere. Financial institutions face ever-changing market conditions. Coupled with the advent of new technologies, enterprise technologies have an unprecedented opportunity to disrupt the industry.

진화하는 핀테크에서의 과세 논점 -크라우드펀딩, P2P 대출, 그리고 블록체인을 중심으로-

진화하는 핀테크에서의 과세 논점 -크라우드펀딩, P2P 대출, 그리고 블록체인을 중심으로-

The Predicament of FinTechs in the Environment of Traditional Banking Sector Regulation – An Analysis of Regulatory Sandboxes as a Possible Solution

Abstract Recently, “Financial Technology-companies” (FinTechs) are increasingly changing the financial services industry worldwide and impose considerable challenges for regulators tasked to solve the arising trade-off between sound regulation and innovation support. In this regard, regulatory sandboxes, which were recently introduced in several jurisdictions, provide a promising solution, as they imply a liberalization of regulatory requirements in order to enable FinTechs to test their innovative services. However, we observe that no comparable initiative exists in Germany, even though the German regulator identified a need for action on this subject in order to maintain its international competitiveness. Thus, based on a detailed analysis of various sandbox models worldwide, this paper develops a set of own recommendations as a basis for the implementation of a sandbox concept which might be applicable in the German regulatory environment. In doing so, we identify current theoretical as well as practical regulatory issues within the context of the rapid FinTech evolution. To the best of our knowledge, this paper represents the first study on key international sandboxes as a basis to design guidelines specifically for the German financial market. Thereby, we contribute to the literature as we evolve an effective regulation within the new setting of innovative financial technologies. Moreover, our findings contribute to the practical solution of current challenges faced by both regulators and affected companies. Even though our derived implications focus on the German financial sector, the results may potentially be applicable in further jurisdictions with similar regulatory requirements. JEL Classification: G21, G28, M13

Fintech in Latin America and the Caribbean: Stocktaking

In Latin America and the Caribbean (LAC), financial technology has been growing rapidly and is on the agenda of many policy makers. Fintech provides opportunities to deepen financial development, competition, innovation, and inclusion in the region but also creates new and only partially understood risks to consumers and the financial system. This paper documents the evolution of fintech in LAC. In particular, the paper focuses on financial development, fintech landscape for domestic and cross border payments and alternative financing, cybersecurity, financial integrity and stability risks, regulatory responses, and considerations for central bank digital currencies.

Fintech in Latin America and the Caribbean: Stocktaking

In Latin America and the Caribbean (LAC), financial technology has been growing rapidly and is on the agenda of many policy makers. Fintech provides opportunities to deepen financial development, competition, innovation, and inclusion in the region but also creates new and only partially understood risks to consumers and the financial system. This paper documents the evolution of fintech in LAC. In particular, the paper focuses on financial development, fintech landscape for domestic and cross border payments and alternative financing, cybersecurity, financial integrity and stability risks, regulatory responses, and considerations for central bank digital currencies.

Финтех: сущность и модели реализации

<span>В статье рассмотрена сущность финансовых технологий, предложена историческая периодизация этапов их эволюции с подробным описанием содержания каждого из этапов, перечислены факторы, обусловившие возникновение и быстрое распространение этого феномена. Сформирован перечень основных моделей сосуществования традиционных и инновационных подходов к предоставлению финансовых услуг и описано содержание каждой из моделей. Показано, что наибольшим конкурентным потенциалом будут обладать те финансовые учреждения, которые в той или иной форме сочетают традиционные и инновационные модели финансовой деятельности.</span>

The Predicament of Fintechs in the Environment of Traditional Banking Sector Regulation – An Analysis of Regulatory Sandboxes as a Possible Solution

Recently, “Financial Technology-companies” (FinTechs) are increasingly changing the financial services industry worldwide and impose considerable challenges for regulators tasked to solve the arising trade-off between sound regulation and innovation support. In this regard, regulatory sandboxes, which were recently introduced in several jurisdictions, provide a promising solution, as they imply a liberalization of regulatory requirements in order to enable FinTechs to test their innovative services. However, we observe that no comparable initiative exists in Germany, even though the German regulator identified a need for action on this subject in order to maintain its international competitiveness. Thus, based on a detailed analysis of various sandbox models worldwide, this paper develops a set of own recommendations as a basis for the implementation of a sandbox concept which might be applicable in the German regulatory environment. In doing so, we identify current theoretical as well as practical regulatory issues within the context of the rapid FinTech evolution. To the best of our knowledge, this paper represents the first study on key international sandboxes as a basis to design guidelines specifically for the German financial market. Thereby, we contribute to the literature as we evolve an effective regulation within the new setting of innovative financial technologies. Moreover, our findings contribute to the practical solution of current challenges faced by both regulators and affected companies. Even though our derived implications focus on the German financial sector, the results may potentially be applicable in further jurisdictions with similar regulatory requirements.