Financial Technology Industry Research Articles

Cultivation of Financial Technology Talents in Finance and Economics Colleges under the Background of New Liberal Arts

This research explores how finance and economics colleges can effectively cultivate financial technology talents in the context of the construction of new liberal arts. The research analyzes the challenges faced by current financial and economic colleges in cultivating financial technology talents, such as a single teaching mode and limited practical platforms. It also proposes corresponding training paths, including clarifying training objectives, optimizing curriculum systems, strengthening practical teaching, building a diversified cooperative education system, enhancing faculty building, and international exchange and cooperation. Aiming to cultivate financial technology talents with interdisciplinary abilities, innovative thinking, and international perspectives through reform and innovation, in order to adapt to the rapid development of the financial technology industry.

The Influence of Inflation, Exchange Rate, BI Rate, and Economic Growth on Mortgage Volume (KPR) in the Covid-19 Era

The financial technology industry is one of the most consequential sectors influencing various countries’ economies. Fintech has great potential and can bring in many opportunities for developing MSMEs, especially in Indonesia. Since the beginning of 2020 the Covid-19 pandemic has affected the Fintech industry, which has started to be cultivated by the MSME sector, especially in Malang. The present study aims to determine the impact before and after the COVID-19 pandemic on the development of the financial technology industry in MSMEs in Malang City using the critical thinking review model. This research uses primary data from 151 MSMEs in Malang City. The results of this study show that 73% of MSMEs in Malang City did not use Fintech accounts before the COVID-19 pandemic. However, since the pandemic, 98% of MSMEs in Malang City have used the fintech platform in their product payment activities. Therefore, there are positive implications due to the pandemic condition. In addition, the public has started using various fintech services, which leads to increasing financial literacy and indicates the growth of financial inclusion. Keywords: industry financial technology, critical thinking model, MSME

NORMA SUBYEKTIF DAN SELF-EFFICACY DALAM PENERIMAAN APLIKASI REKSA DANA DAN SAHAM

Mutual funds and shares are investment elements that are more volatile compared to gold, but in the long term they are quite profitable elements. This can be seen during the COVID-19 pandemic, the Russian-Ukrainian war crisis, and the bankruptcy of a large bank in America, this investment element still provides profits. The financial technology industry also provides various service applications on mobile phones or smartphones that make it easier for people to invest in mutual funds and shares. This research analyzes the determinants of Indonesian society's acceptance of stock mutual fund applications using the Technology Acceptance Model (TAM) and adding two external variables, namely subjective norms and self-efficacy. This research uses Structural Equation Model-Partial Least Square (SEM-PLS) to test the hypothesis. The results show that all TAM variables and subjective norms have an influence, but self-efficacy does not influence interest in using mutual fund and stock applications. In order to increase public acceptance of mutual fund and stock investment applications, and then interest in using them, service providers should improve the ease of operation and usefulness of their applications. Efforts should also be made to encourage people to recommend each other to invest through this application.

Fintech and COVID-19: reflections and considerations for a financial market

The rapid emergence and growth of the financial technology industry (Fintech) in Kazakhstan has made it one of the fastest growing areas in all financial sectors of the country. It occupies a leading position in various indicators, such as the volume of financial transactions and the coverage of end users of its services. The country's digital development and Internet technologies are contributing to the growth of the industry, where the impact of the pandemic has also contributed. Despite all the difficulties caused by COVID-19, the Kazakh economy has undergone significant changes, especially with the accelerated development of Fintech in the banking environment, where there are enormous growth rates due to digitalization. The article shows the metrics of Kaspi, one of the digitalization-leading and fastest-growing banks. The article's goal is to examine the current situation of Kazakhstan's financial technology market using Kaspi Bank as an example, which involves finding new, contemporary directions for Fintech development in banks and taking Kazakhstan's development experience into account. The work also reflects the concept of Fintech and its main directions of development in the modern world. The research was carried out using various methods, such as statistical analysis, system analysis, systematization of theoretical data and observation of economic processes.

Impact of Generative AI on FINTECH in Africa

The financial technology (Fintech) industry in Africa is expanding and growing quickly. Despite several regulatory contexts, political, economic, and regulatory obstacles, Fintech is booming throughout the continent. Over the past few years, the information technology industry has grown dramatically, and a large number of these new businesses are focused on upending the financial technology industry. Because it can understand customer preferences, spending habits, and financial goals, generative AI has a lot of promise to provide personalized financial recommendations or solutions to any individual. With the new paradigm of generative AI playing a more critical role, it may have significant impact on fostering the growth of Fintech within Africa. The article provides a comprehensive review of the current state of Fintech within Africa and the impact of generative AI on fostering the growth of it.

Navigating the Regulatory Labyrinth: Compliance Dilemmas and Lead User Innovation in the Fintech Sector

Abstract This research article deals with the lead user innovation difficulties in the Kenyan financial technology sector, specifying the regulatory compliance challenges. The flourishing of fintech firms in diverse aspects and sectors have faced numerous dilemmas, particularly in intellectual property, privacy and consumer safety regulations which may lead to lack of adherence. The consequences of non-compliance can be severe, including legal penalties and reputational damage. Despite the importance of innovation in fintech companies, the dilemmas innovators face in navigating regulatory compliance is not yet fully investigated. This research adopts and employs a sequential mixed-method approach that allows complex connection of lead users and regulators in terms of compliance. Survey data from 321 lead users and in-depth interviews with 36 lead users and five regulators revealed a range of compliance challenges. Intellectual property laws scored the least adherence, with the plethora of regulations and overseeing bodies contributing to increased non-compliance. The outcomes highlight the pressing compliance issues faced by lead users and underscore the potential of regulatory bodies to bolster adherence. The outcomes indicate the need for a different approach to regulatory compliance by lead users. This paper underscores the necessity of cooperative engagement between innovators and regulators to effectively maneuver through the dynamic compliance landscape of the financial technology industry.

A Systematic Review of Fintech Development

The rapid emergence of the Financial Technology Industry (Fintech) has revolutionized the financial landscape, attracting extensive academic attention and industry-driven innovation. This systematic review synthesizes the literature on Fintech development to provide an exhaustive understanding of every major and centrifugal development. The review includes a methodical assessment of peer-reviewed articles, conference papers, and industry reports published between 2010 and 2024. A review of the literature indicates the far-reaching impact of Fintech across the various segments of banking, payment, lending, wealth management, and insurance. The literature unravels the significant role of advanced technologies such as blockchain, artificial intelligence, and big data analysis in promoting innovation across the financial sector. Additionally, the analysis preaches the existing regulatory participation and its implications on Fintech adoption and the promotion of market expositions and consumer interests. KEYWORDS: Research Paper, Fintech Innovation, Artificial Intelligence in Finance, Digital Payments, Crowdfunding.

Continuity Intention Segment Mobile Payments: Review the Immediate Effects of Performance Expectancy and Effort Expectancy

Technological developments and the emergence of the financial technology industry coupled with digitalization in various fields have led to mobile payments in Indonesia. Mobile payments make transactions even faster and more convenient. However, there is a decision for consumers to continue or not to use technology, in this case regarding mobile payment technology. This study develops a model to see a direct relationship between performance expectancy and effort expectancy on continuance intention in cellular payments. Quantitative This study used SmartPLS 3.0 in conducting data analysis and obtained primary data from 1000 respondents through a list of questions given with a Likert scale. The research was conducted in two cities in Lampung Province. This study found the fact that performance expectancy has a direct relationship effect on continuity intention in mobile payments because consumers feel comfortable and do not worry about transactions through mobile payments. Effort expectancy has a direct relationship effect on continuity intention in mobile payments because consumers find transactions with mobile payment facilities very practical in use and easy to understand. Keywords: performance expectancy, effort expectancy, mobile payment, continuity intention

Bibliometric Analysis of Fintech Trends

The significant significance that the fast growth of financial technology (Fintech) has had in the creation of numerous academic research is clear. The patterns, impacts, and prospective future directions of this phenomenon that is changing the industry have been the focus of several studies. To gain a better understanding of the current developments in the financial technology industry, we conduct a survey of the academic publications that correspond to them as part of our comprehensive bibliometric study. Our research in the area of financial technology (Fintech) makes use of bibliometric techniques to examine trends in publication, citation networks, and subject clusters. Our major focus is a massive dataset that spans many years and includes data from economics, computer science, and finance. Notable authors, major publications, and new categories are illuminated by the most significant findings in the field of financial technology research. When we set out to conduct this research, we hoped to fill knowledge gaps, paint a full picture of the ever-changing fintech industry, and increase our familiarity with this extraordinary sector. Keywords: Fintech, bibliometric analysis, trends, financial technology, citation networks, scholarly literature, research themes, interdisciplinary, systematic approach.

HARMONIZATION OF FINANCIAL SECTOR REGULATIONS WITH THE FDIC LAW AND THE P2SK LAW REGARDING THE USE OF PRIVACY RELIABILITY CERTIFICATES BY FINANCIAL SECTOR BUSINESSES

<p>Information and communication technology has changed the behavior of society and human civilization worldwide. Its development has made the world borderless, and significant social changes are taking place rapidly. In addition to contributing to the improvement of welfare, progress, and human civilization, it has also become an effective means for illegal acts. Illegal acts occur in the development of the financial technology industry. In order to prevent unlawful acts, it is necessary to use privacy reliability certificates by financial sector companies based on Bank Indonesia Regulation No. 3 of 2023 and OJK Regulation No. 6 of 2022. The research method used is normative juridical. The research is conducted using primary data in the form of field studies as well as the use of library materials or secondary data that includes primary, secondary, and tertiary legal materials. This research aims to find out how the implementation of the obligation to use the Privacy Reliability Certificate by financial sector companies is based on the Indonesian Cyber Law, in order to better ensure consumer protection.</p><p>Keywords: Keywords: Privacy Reliability Certificate, Financial Technology Industry, Consumer Protection.</p>

Urgent Implementation of Regulatory Technology and Supervisory Technology in the Financial Technology Industry

Urgent Implementation of Regulatory Technology and Supervisory Technology in the Financial Technology Industry

Mapping the Financial Technology Industry in Indonesia

Mapping the Financial Technology Industry in Indonesia

How to design a better model for China’s enhanced Fintech regulatory sandbox?

Recent years have seen the rapid development of the world’s financial technology industry (Fintech). Because of the innovation and risk controllability of the Fintech “regulatory sandbox”, it has become an effective model for financial technology regulation. This article firstly introduces the background and mechanism of China’s regulatory sandbox and summarizes the drawbacks. Then we analyse the mechanism and operation process of the Fintech regulatory sandbox in the UK and Singapore, where we sum up the experience that China can refer to. Finally, our project points out the positive significance of our newly-created model and its possible limitations.

A Study of the Ideas Behind Artificial Intelligence in Financial Technology

Artificial intelligence has the potential to totally revolutionize the financial industry by providing answers that are both knowledgeable and intelligent to problems that people are unable to solve on their own. FinTech systems that are powered by artificial intelligence make use of machine learning algorithms and natural language processing in order to analyze vast volumes of data and produce forecasts or judgments. Artificial intelligence is being used in the financial technology industry to improve the efficiency, personalization, and security of services provided by financial institutions. This is causing a change in the way that these institutions manage their businesses. Significant technical developments that are revolutionizing financial services have been brought about as a result of the incorporation of artificial intelligence and machine learning in the financial sector. Currently, artificial intelligence is being utilized by financial institutions in order to enhance the client experience, automate financial services, and make decisions based on actual facts.

The Impact and Development of Modern Internet Financial Technology on the Traditional Financial Industry

The financial technology industry has experienced significant growth due to the rapid integration of artificial intelligence, big data, cloud computing, Internet of Things, blockchain, and other information technologies into financial businesses. This growth can be attributed to the emergence of a new wave of scientific and technological revolution and industrial transformation. The integration has facilitated the progress of the financial technology industry. This study employs the Logistic regression model to examine the effects on the conventional financial sector. The author's research provides a detailed examination of the developmental trajectory of Internet finance and financial technology, while also assessing the present challenges faced by Internet finance and its repercussions on the conventional financial sector. Through a comprehensive examination of the text in its entirety, a concise overview of the historical and prospective financial environment might yield a more perceptive comprehension of the ramifications of emerging technologies on the conventional financial sector. The present study aims to provide a thorough examination of the paper, with the expectation that it will enable individuals to get a more lucid understanding of the overarching circumstances.

Cyber Threat Intelligence Sharing for Co-Operative Defense in Multi-Domain Entities

Cloud-hosted applications are prone to targeted attacks such as DDoS, advanced persistent threats, Cryptojacking which threaten service availability. Recently, methods for threat information sharing and defense require cooperation and trust between multiple domains/entities. There is a need for mechanisms that establish distributed trust to allow for such a collective defense. In this paper, we present a novel threat intelligence sharing and defense system, namely “DefenseChain,” to allow organizations to have incentive-based and trustworthy cooperation to mitigate the impact of cyber attacks. Our solution approach features a consortium Blockchain platform and an economic model to obtain threat data and select suitable peers to help with attack detection and mitigation. We apply DefenseChain in the financial technology industry for an insurance claim processing use case to demonstrate the effectiveness of DefenseChain in a real-world application setting. Our evaluation experiments with DefenseChain implementation are performed on an Open Cloud testbed with Hyperledger Composer and in a simulation environment. Our results show that the DefenseChain system overall performs better than state-of-the-art decision making schemes in choosing the most appropriate detector and mitigator peers. Lastly, we validate how DefenseChain helps mitigate the threat risk of incidents relating to potential fraudulent insurance claims or cyber attacks.

Analysis of Factors Affecting Fintech Consumers in Indonesia

The researcher conducted a pre-survey in order to find out more about the reasons that make consumers choose digital payment providers in making daily payments. From the pre-survey that was asked of 100 consumers, it was found that there were 4 factors that dominated the determination of consumer intentions in choosing digital payment providers. Based on the situation analysis and pre-survey findings, it is important to conduct this research so that it can become a strong theoretical foundation for stakeholders in the financial technology industry (FINTECH) in Indonesia and can contribute to the success of government programs in encouraging the development of the digital economy and digitalization in Indonesia. The sample involved 1,713 respondents with certain criteria and was analyzed using the structural equation modeling method. The findings state that the intention to use FINTECH can be increased through user satisfaction. Customer satisfaction is strongly influenced by the diffusion of innovation from the technology presented in the service, where the service must be able to make it easier for users to transact. Customer satisfaction must be a priority in designing customer-oriented product and service management, so as to form brand integrity that reflects quality service. To obtain a better determination, especially in assessing customer satisfaction using mobile payments, many factors such as Hedonic Value, Information Quality are factors that are suspected to have antecedents that need to be tested.

Financial Technology (Fintech) and Cybersecurity: A Systematic Literature Review.

This research aims to identify the threats posed by cybercrime to the fintech sector, as well as the preventative measures taken by the industry in the form of cybersecurity. This study employs a systematic literature review approach to analyzing previously published publications on cybercrime and cybersecurity in the financial technology industry. The survey found that cybercrime issues in the fintech industry include lax cybercrime rules, theft of data and information, and infringement of intellectual property. Proactive measures strengthened legislation, and establishing a trustworthy cybersecurity framework or system may all be used to combat cybercrime in the fintech industry.
 This study's findings may serve as a resource for academics, practitioners, regulators, and fintech players interested in learning more about the evolution of cybercrime and cybersecurity in the financial technology sector. While this study does an excellent job of summarizing and expanding upon the research findings in each chosen article, it needs to analyze the connections between the pieces. Broadening the scope of the article under evaluation, using other literature review techniques, or doing more empirical research are all viable options for recommending additional studies to corroborate the findings of the current one.

Dark side whitewashes the benefits of FinTech innovations: a bibliometric overview

Purpose The current study focuses on many risk categories that have emerged in the digital ecosystem of the financial technology industry, which has dramatically changed traditional financial systems as a result of innovations in financial technology.Design/methodology/approach The Web of Science Core Collection database was used to find a data set of 719 pertinent papers on the subject encompassing the year 2015–2023. The sample procedure was carried out utilising the PRISMA approach. The keywords were first gathered relating to technological risks in banking sectors and after confirming the keywords, the authors performed the search by the “topic” which covers “title” in the search bar. On February 15, 2023, the Web of Science database was searched using the terms “Cyber security risk OR data theft OR financial crimes OR financial stability risk OR operational risk OR default risk OR money laundering OR financial terrorism AND FinTech AND banking sector”. Two-step approach is applied in this study. First, descriptive analysis is applied using RStudio to highlight prominent authors, countries and affiliations. Furthermore, relationship among authors, countries and keywords is shown by using three fields plot. Second, using VOSviewer, co-occurrence of keyword analysis is used to determine the most influential themes.Findings The findings show that 2,611 documents have been published from 2016 to 2023. Year 2021 is the most productive year in terms of number of publications. The results also show that WANG XC is tied for the position of most prolific contributing author. In a similar vein, the United States leads the world in publication output. Furthermore, Southwestern University of Finance and Economics in China is leading the list with 15 articles. The results from the co-occurrence of keywords reveal that “default risk”, “operational risk”, “money laundering”, “credit risk”, “corporate governance”, “systematic risk”, “financial stability risk”, “risk management” and “crises” are the frequently keywords.Originality/value The results of this study are beneficial to academia and industry in order to advance their current understanding of FinTech and associated concerns. This work expands the understanding of the technology hazards facing the banking industry from a broad perspective.

Fintech and Digital Transformation: Accelerating Innovation in Financial Services

This paper focuses on the progress made in the field of financial technology as a result of digital development. The study highlights several major areas of financial technology and analyzes its risk level and future prospects. The research indicates that the areas of online payment and P2P lending are advancing successfully, and their respective legal and regulatory systems are relatively well-established. However, the development of Robo-Advisor and Blockchain faces significant challenges due to uncertainty and a lack of clarity regarding regulatory frameworks. The emergence of ChatGPT has disrupted the traditional understanding of Robo-Advisor, presenting new opportunities for development. On the other hand, the development of products based on blockchain technology poses a great risk as it is challenging to accurately determine their intrinsic value. Overall, digital development has greatly impacted the financial technology industry, and the study emphasizes the importance of understanding the risks associated with new technologies. The research recommends that regulators should work towards creating clear and comprehensive regulatory frameworks to promote responsible innovation in the financial technology sector.