Financial Technology Companies Research Articles

Defining Service Quality of BRI Merchant Application Using Importance Performance Analysis

The COVID-19 pandemic has changed people's habits worldwide, accelerating the adoption of cashless payment transactions, especially in Indonesia. This situation allows Financial Technology companies and Conventional Banks to increase competition. This thesis focuses on the Digital Payments Industry in Indonesia, emphasizing the Merchant Acceptance Business, which has a crucial role as a catalyst for Cashless Payments. This research is based on previous studies regarding service quality, business model canvas, and the importance of performance analysis of the BRI Merchant Application. This research aims to define a service quality strategy for BRI merchant applications through a critical performance analysis approach. The study found that the quality of BRI merchant application services consists of changing merchant data, adding EDC, Checking transactions, reconciling Payments, filing complaints, and monitoring complaints.

Financial inclusion and the contested infrastructures of cash transfer payments in South Africa

Across much of the South, digital technologies are increasingly central to the expansion of state social protection systems. Supported by major development agencies, many of these distributive technologies are developed and implemented by financial technology companies with the specific aim of accelerating financial inclusion. While researchers have documented the influence of these financial actors and logics over social policy, we know less about how these interventions are transforming the experience of receiving social protection. Based on qualitative and observational research with social grant recipients in South Africa, this research demonstrates how digital and financial technologies produce confusion, informational opacities and new forms of exclusion among grant recipients. It suggests that the increasingly prominent role of financial technologies in the delivery of social protection undermines state capacity and further entrenches the influence of neoliberal logics over social policy. Finally, the article suggests that these technologies may be transforming the nature of social citizenship in South Africa, undermining efforts to advance universal and redistributive social protection policies.

Enhancing Financial Technology Operations: A Comprehensive Evaluation Using COBIT 2019 Framework

This research aims to enhance information technology (IT) governance in a financial technology company by focusing on peer-to-peer lending services. The main challenges faced by the company involve a lack of system design details, leading to post-implementation imperfections and negative impacts on business process performance, including unnecessary delays and adjustments. The lack of transparency in system evaluation is also a hindrance caused by incomplete recording of test results. Therefore, this research aims to address these challenges by utilizing the COBIT 2019 framework. The study employs a qualitative approach, utilizing data obtained through interviews and literature studies supported by the COBIT Tool Kit. The analysis is conducted on three main objectives: security management, solution identification, and IT change management, to identify disparities between the current status and desired targets. The analysis results highlight the need for improvements in specific aspects, including the lack of system design details, more precise information in the change process, and deficiencies in recording test results. Recommendations for improvement involve the development of more detailed guidelines for system design, enhanced documentation of changes, and improvements in testing instructions and result reporting. Additionally, recommendations focus on enhancing capabilities through proactive evaluation, refining security plans, developing more adaptive solution acquisition strategies, and improving testing practices. Thus, this research underscores the importance of strategic improvements within the IT and Information Systems governance framework to shape a more effective and transparent operational environment in Financial Technology companies.

Preventive Legal Protection Against Leaks Consumer Data by Company Negligence Financial Technology

Various financial technology companies are currently using standard agreements. Withthe rise of standard agreements, business actors began to include exoneration clausesto release all forms of responsibility for losses suffered by consumers. One of thecompanies that has included the exoneration clause is Koinworks in Article 5 of theKoinworks Terms & Conditions. Based on this statement, the authors conducted thisresearch using two problem formulations, namely what are the legal consequences ofapplying the exoneration clause in standard agreements made by financial technologybusiness actors when viewed from Article 1320 of the Civil Code? And how aboutpreventive legal protection against leakage of consumer data by the negligence offinancial technology companies? To be able to answer the formulation of the problem,the authors use normative juridical research methods with a statutory approach. Theresults of the study show that the legal consequences of applying the exonerationclause in standard agreements made by Financial Technology business actors whenviewed from Article 1320 of the Civil Code, it can be concluded that the exonerationclause can be null and void by law. Then, preventive legal protection needs to becarried out by optimizing supervision by the Financial Services Authority, such astaking action against companies that have violated statutory provisions before theoccurrence of disputes or problems.
 Keywords: Legal Protection; Data Leakage; Financial Technology Companies

Illegal Electronic Investments in Trade Robot Missions According to the Criminal Law in Indonesia

Various financial technology companies are currently using standard agreements. With the rise of standard agreements, business actors began to include exoneration clauses to release all forms of responsibility for losses suffered by consumers. One of the companies that has included the exoneration clause is Koinworks in Article 5 of the Koinworks Terms & Conditions. Based on this statement, the authors conducted this research using two problem formulations, namely what are the legal consequences of applying the exoneration clause in standard agreements made by financial technology business actors when viewed from Article 1320 of the Civil Code? And how about preventive legal protection against leakage of consumer data by the negligence of financial technology companies? To be able to answer the formulation of the problem, the authors use normative juridical research methods with a statutory approach. The results of the study show that the legal consequences of applying the exoneration clause in standard agreements made by Financial Technology business actors when viewed from Article 1320 of the Civil Code, it can be concluded that the exoneration clause can be null and void by law. Then, preventive legal protection needs to be carried out by optimizing supervision by the Financial Services Authority, such as taking action against companies that have violated statutory provisions before the occurrence of disputes or problems.
 Keywords: Legal Protection; Data Leakage; Financial Technology Companies.

Evolution Trends and Market Impact Analysis of Fintech: Based on the Case Study of Williams

The development of financial technology is a double-edged sword, which not only breaks the traditional technical barriers between financial enterprises and technology companies but also makes finance and technology fully integrate together and release much economic vitality. But at the same time, the regulatory problems brought by financial technology and the uncertainty of the development of the industry have also produced a certain negative threat to the market. As a third-party payment company, Williams Company has made many pioneering efforts in the development of financial technology and has also made a series of achievements in the past years. Taking the development of this company as a case study, we will discuss the evolution trend of financial technology and the problems existing in the development process of financial technology, which will open our vision, strengthen supervision and promote scientific and technological progress. It is of obvious value.

数据驱动下互联网金融科技公司风险管理研究

数据驱动下互联网金融科技公司风险管理研究

Systemic Risk and Tail Risk of Fintech Firms During Covid 19: A Case of Southeast Asian Economy

The main goal of this research is to compare the tail risk faced by Thai financial technology firms with the systemic risk experienced by financial technology companies in Thailand. During the COVID-19 outbreak, it was also investigated how the effects of tail risk and systemic risk affected Thailand's financial technology businesses. During COVID-19, the number of individuals using financial applications online surged drastically, giving clear proof of the sector's stratospheric ascent. During the same time period, the number of people using cryptocurrency apps increased dramatically. This study is the inaugural examination of its kind, investigating the interplay between tail risk, systemic risk, and Fintech, utilizing data from a sample representative of the Thai economy. Our study primarily centers on the financial technology sector, with the data for Fintech companies being computed for the periods between December 2019 and February 2022. Fintech businesses in Thailand look through the theoretical lens provided by the extreme value theory when calculating the tail risk of their portfolios. The fall in the value of technology businesses has given rise to the idea of establishing a significant number of financial technology companies located in Thailand. A lengthier and more widespread dispersion is consistent with an exponential growth of fintech businesses in Thailand during the course of the COVID-19 time period. Some businesses within our sample exhibit notably short tails, indicating a heightened susceptibility to adverse events, particularly during the COVID-19 period. The results indicate that the global technology index during COVID-19 is reliant on the systemic risk posed by Fintech. It's possible that these outcomes might be attributed to the large growth in customer bases seen by FinTech businesses during COVID-19. Fintech companies in Thailand saw significant growth during the epidemic of swine flu. The current research is among the first of its type when it comes to grasping the issues of tail risk and systemic risk in fintech enterprises in Thailand. This development is highly beneficial for policymakers, financial experts, and academics, as it facilitates a deeper comprehension of these issues.

Cooperative Entrepreneurship: Future Back Thinking, Translation, and Digital Organizational Change in the Credit Union Space

In this essay, I examine cooperative entrepreneurship’s role in driving digital organizational change in a Southern California credit union that caters to a mobile university population. Drawing on Joseph Schumpeter’s interpretative approach to entrepreneurship, I highlight the pivotal role of an innovative CEO in combining a new technology, AI chatbots, with the credit union’s existing technologies to create a new means of production in a contact center: AICCs or Artificial Intelligence Contact Center Agents. I extend Schumpeter’s theory by showing both how future-back thinking can generate ideas for new methods of production, and how acts of translation can help align these methods with local organizational values, overcoming resistance to change. I suggest that such combinatorial activity can help credit unions to sustainably compete against a new breed of financial technology companies known as fintechs.

An Intercultural Perspective on Construction of Corporate Identity of Chinese and American Enterprises —— Taking Fin-Tech Unicorns as an Example

Benefiting from the progression of science and technology, an increasing number of enterprises begin to delve into the construction of corporate identity through their official websites, regarded as an international door today. The researches about the building of corporate images takes a large amount of shareholdings in academic area. Notwithstanding, there are only few scholars studying the portray of the profile from an intercultural perspective with “About us” section in company websites as the data. With the help of the corpus analytic tool AntConc, this paper intends to discuss the common and distinctive corporate identities of Fin-Tech unicorns in China and the US respectively which are manifested in high-frequency vocabulary, key words, communication strategy and style. It is discovered that the common identities include international financial technology companies, payment services provider and caring about consumers. Apart from this, CF takes the mixture of proactive and reactive strategy in building its images and tends to be more impersonal and hierarchical in communication style. The proactive strategy and casual communication style constitute to the construction of UF’s identities. From the cultural perspective, CF expresses all of the cultural dimensions specific in China except that of masculinity and femininity and the situation of UF is the same with CF. CF should endeavor to narrow the cultural gap thorough applying effective intercultural communication strategies and keep in line with the local culture. In this way, CF might be able to grab the chances along with the advance of globalization.

Analyzing the Banking Sector- Fintech Companies Nexus in Jordan

This paper presents an analytical framework that describes the nexus between the banking sector and financial technology (fintech) companies. It explains existing trends, and by collaborating with banks, the importance of fintech companies grows daily. It examines the choices that established banks will have to explore to mitigate the profitability threat. At the onset of the fintech era, many analysts discussed its disruptive potential for the financial sector. However, we expect more future debates regarding collaboration between fintech businesses and banks. The other point that is significantly essential to debate about is financial inclusion. We pick Jordan as a case study since the local fintech sector is expanding, and it acts as a gateway for the broader MENA region. First and foremost, we attempt to assess the scientific literature that examines the major components of the fintech sector. The second section of the paper discusses the evolution of the sector and the critical aspects of the methodology employed, including statistical analyses. Our findings indicated that it is preferable to rely on qualitative assessment when valuing the relationship between banking and fintech because statistical analysis might produce inconsistent and incorrect conclusions. In Jordan, we discovered that both sectors interact with one another. The study offers scientific recommendations for the banking sector and fintech companies.

Knowledge Management and Data Analysis Techniques for Data-Driven Financial Companies

AbstractIn today’s fast-paced financial industry, knowledge management and data-driven decision making have become essential for the success of financial technology (FinTech) companies. Big data (BD) is a prevalent phenomenon that can be found across many industries, including finance. Despite its complexity and difficulty to comprehend, big data is a critical component of financial services enterprises and technology architectures. We examine BD from various aspects, considering data science (DS) techniques and methodologies that can be applied during the operation of an enterprise. Our aim is to provide an overview of knowledge management (KM) practices and data analysis (DA) strategies and techniques in the daily operations of financial companies. We address the role of knowledge management, data analytics in a financial institution. The paper demonstrates financial institutions’ enablement for new services resulting from technological advancements.

Consumer Characteristics Of Financing Company Service Users In Indonesia

Abstract: Finance Company is a non-banking financial services company engaged in financing and is registered and supervised by OJK. The current challenge is the decline in the number of receivables and is inversely proportional to Financial Technology companies. Restrictive policies during the Covid-19 pandemic have made people change their purchasing behavior of goods and services, including credit transactions. The decline in the number of consumers in finance companies must be anticipated so that the company can maintain its market. The purpose of this study is to analyze the characteristics of consumers who choose Finance Companies as an alternative to obtaining loans. The research was conducted in an area with the largest population of Finance Company users, namely Jabodetabek . Data collection using the Cluster Random Sampling method using G-Form with a total of 200 respondents. The results of the study explained characteristics such as gender, age, education, occupation, marital status, income, and region of residence. Managerial implications that can be considered for finance service companies are that companies can find out consumer characteristics and obtain information in order to reach more consumers so as to provide benefits for the company.

Product Innovation and the Performance of Financial Technology Companies in Kenya

Product innovation has continued to be the driving force of the organizational performance of companies operating globally and locally. However, most of the financial technology companies operating in Kenya have continued to record deteriorating performance due to issues with product innovations. Despite the acknowledged fact that product innovations enhance the performance of firms, financial technology companies operating in developing countries and, more specifically, in Kenya are underperforming. The study sought to assess the effect of product innovation on the performance of financial technology companies in Kenya. The study was anchored on Schumpeter’s Theory of Innovation. The study adopted a descriptive research design to determine the problem under investigation. The target population of this study was 36 financial technology companies in Kenya. Because the population was small, a census was conducted in this study. A questionnaire was the primary tool in data collection. The validity of the research instrument was determined by using industry experts like lecturers and experienced employees working with financial institutions, while the reliability of the research instrument was tested using Cronbach’s Alpha. The Statistical Package of Social Sciences (version 21) was used to process and analyze the data. Data was analyzed using descriptive statistics and inferential statistics. Descriptive statistics such as frequency distributions, percentages, means, modes and standard deviations and frequency tables were used to summarize and relate them, which were attained from the administered questionnaires. Regression analysis was used to establish the effect between product invocation and the performance of financial technology companies in Kenya. The results were presented in tables. The results indicated that product innovation had a positive and significant effect on the performance of financial technology companies in Kenya. An improvement in product innovation led to improved performance of financial technology companies in terms of increased customer satisfaction, increased market share and increased staff satisfaction. The study recommends that the management of financial technology companies and companies of a similar nature need to recognize and appreciate the need to implement strategic initiatives like product innovations.

The Impact of COVID-19 on Financial Technology Enterprises and Countermeasures -- Taking Ping an Insurance of China as an Example

Financial technology enterprises are essential and important in promoting economic progress and social development. Financial technology companies have seen their performance decline amid the pandemic, but the epidemic has also accelerated their push to go online. It is of great significance to analyze the impact of COVID-19 on financial technology. This study analyzed the impact of the epidemic on fintech enterprises by the existing literature and practical problems. The study also took Ping An Insurance of China (Ping An), an outstanding financial technology enterprise, as an example to examine the impact of the epidemic on it and its coping strategies. In the study, some suggestions are provided for financial technology companies. After the epidemic, financial technology enterprises need to increase financial need, accelerate the speed of online business and build a sense of social responsibility.

Research on risk contagion mechanism of big fintech based on the SIRS model.

In recent years, while the relationship between the new financial institutions, represented by financial technology companies, and the traditional financial institutions(banks, securities, insurance, etc.) has been steadily enhanced, a New Relational Network has silently emerged. Along with the rapid expansion of big fintech companies, the possibility of financial risk breeding and spreading in the New Relational Network is also rising. This article analyzes and simulates the risk contagion mechanism of big fintech risks based on the SIRS epidemic model. The study's findings imply that: when the number of big fintech companies infected with risk exceeds the risk threshold, the big fintech risk will spread in the New Relational Network. At this time, the number of big fintech companies infected with risk can be reduced below the threshold by enhancing the risk warning, risk management, risk buffering and blocking capabilities, and timely improving risk prevention and control measures in the post-infection phase. It means that the big fintech risk is controlled. For big fintech risks, proactive interventions are more effective than post-incident response measures. This paper makes the following recommendations for preventing big fintech risks: creating a risk monitoring and early warning system to raise the Big Fintech companies' direct immunization rates; strengthening the big fintech companies' risk management and risk mitigation capabilities; enhancing the internal and external supervision to achieve sustainable development of big fintech companies.

Triển khai chuyển đổi số ngành ngân hàng tại Việt Nam và các giải pháp

The development of information and communications technology (ICT) is the key factor of industrial revolution 4.0, ICT has been applied in Internet environment in various economic and social operations resulting in establishing digital economy ecosystem. Financial technology companies, banking finance institutions have applied fintech to provide products, services for the customers so that they compete with banks. No exception, the commercial banks have utilized fintech to create digitalization products and models. Owing to the pressure of competitors, bank’s digital transformation is an inevitable and objective tendency. This article focuses on researching theoretical framework of bank’s digital transformation, and assessing the results as well as proposing solutions to promote digital transformation in banking industry in Viet Nam. This article uses the statistical, comparative, synthetic methods of studying and reliable data.

The Impact of Innovation Practices on the Performance of Financial Technology Companies: An Empirical Study in UAE

The Impact of Innovation Practices on the Performance of Financial Technology Companies: An Empirical Study in UAE

The Effect of Artificial Intelligence Utilizing in Social Media Marketing

The development of Artificial Intelligence (AI) provides many opportunities in the current business structure. AI is used in various industries with different purposes, including creating engagement with customers. Financial technology (fintech) companies also utilize AI for giving product recommendations or targeted ads based on customers’ algorithms. Thus, this study aims to examine whether the use of AI in social media marketing can encourage consumers’ intention to use the products or services offered by the fintech companies. A total of 121 respondents were involved in this study with Structural Equation Modeling (SEM) as the analysis method. The result indicates that performance expectancy, utilitarian motivation and perceived valur co-creation influence the intention to invest.

What Can Financial Technology Learn from Syariah Finance on Ecosystem: Collaboration

Shariah financing is financing based on Islamic values. Shariah financing must meet several requirements. The shariah financing process must follow the shariah process from start to finish. Financial technology companies also need an ecosystem to grow. Financial technology companies can emulate shariah financing. This study aims to discuss the shariah financing ecosystem that can be studied by financial technology. This research uses qualitative research methods. This study conducted a literature study on shariah financing and financial technology financing. The research concludes that financial technology financing can work with financial technology companies to develop shariah financing. Shariah financing and financial technology financing require an ecosystem. Cooperation of shariah financing and financial technology is one of the best solutions for the development of both financings.