Financial Technology Innovation Research Articles

Managing Inclusion and Financial Education for Sustainable Development

Objective: The objective of this study is to analyze the importance of effective management of financial inclusion and education in the context of sustainable development, highlighting its impact on the achievement of the SDGs. It also aims to identify the main challenges faced by vulnerable populations in accessing financial services and propose comprehensive strategies to improve financial literacy and accessibility, contributing to a more inclusive and equitable society. Theoretical Framework: For this research we have several relevant approaches and theories such as: financial inclusion theory; its relationship with the SDGs; financial education theory, as well as inclusion and sustainable development. Method: The methodology adopted for this research comprises a qualitative approach, based on the review of documents, public policies and government programs on financial inclusion and education to assess their effectiveness with respect to the SDGs. Data from the World Bank's Data Dashboard (The Global Findex Database, 2024) was analyzed using content analysis, which allowed identifying key themes and gaining a deeper understanding of the perceptions and experiences related to the evaluated programs.. Results and Discussion:The results obtained revealed that, although there is progress in financial inclusion in Mexico, there are still areas of opportunity to improve access to and use of financial services, especially among the most vulnerable segments of the population. It is necessary to highlight the need to continue working on the promotion of financial inclusion in Mexico and in other regions, through public policies that promote financial education, technological innovation, and collaboration between the public and private sectors. Research Implications: The practical implications of this research include the improvement of public policies and programs focused on financial inclusion and education, promoting more equitable access to financial services in vulnerable populations. At a theoretical level, the study provides a deeper understanding of the relationship between financial management and sustainable development, offering a conceptual framework that links financial inclusion with the SDGs. This strengthens the academic analysis on how financial education can drive inclusive economic growth. Originality/Value: The originality and value of this research lies in its focus on the direct relationship between financial inclusion and financial education with the SDGs, an area underdeveloped in the literature. The research offers a new perspective by assessing how financial education can be a key tool for achieving equitable and sustainable development. Its contribution to the literature is in providing a detailed analysis of public policies and government programs, highlighting their effectiveness and identifying areas for improvement, which brings a comprehensive and updated approach to the study of financial inclusion.

Digital RMB: Regulation of Central Bank Digital Currency (CBDC) in China

Introduction. “Digital RMB” is the digital currency of the People's Bank of China that has attracted the attention of researchers around the world. This project is not the first to be put into circulation, but it is the largest in terms of the volume of issued currency and the number of people using the CBDC as a means of payment.Materials and methods. The analysis of the practice of putting into effect, as well as the basics of regulating the CBDC of the PRC, can become a source of information that allows, when making a comparison, to develop a policy of action for the regulator in relation to the digital currencies of other countries.This article considers only the CBDC of the PRC, its features, technological and non-technological components. The main source of analysis is the Program Document or the Whitepaper of the CBDC of the PRC, which is currently the only official source of information on how the currency regulation is structured. This document is one of those establishing regulatory principles and is an example of a generally accepted method of regulating innovative financial technologies at the pilot stage.Results of the study. Based on the analysis, the article offers conclusions, current and final, about what the PRC CBDC is, what its structure is, what are the features and of the PRC CBDC.Discussion and conclusion. Areas of application of the PRC CBDC are being considered, the legal effect of its implementation.

How does the financial technology innovation regulatory pilot influence financial regulation?

Integration of technology and finance presents significant challenges for financial regulators, necessitating formulation of policies for mitigating financial security risks and related concerns. This study examines the impact of the Pilot Project of Regulation on Fintech Innovation (PPRFI) on financial regulation in China from 2013 to 2022. Findings demonstrate that PPRFI significantly strengthens financial regulation, with financial technology mediating the relationship between PPRFI and regulatory effectiveness. Heterogeneity analysis reveals that the policy's positive effects are more pronounced in provinces with lower levels of human capital and in the western regions of China.

Mobile Payment Fintech Service Adoption and Security Concerns

In India, the adoption of financial technology (Fintech) or financial technology innovation (FTI) has expanded due to the development of mobile devices and their use. The need for mobile Fintech payment systems that facilitate online and offline transactions has increased, especially during and after COVID times. However, mobile payment services are still used in limited areas due to concerns over the security of mobile applications for customers and Fintech companies alike. Drawing on the Technology Acceptance Model (TAM), the findings of this paper support the notion that usefulness, ease, user design, information security, and trust impact of mobile payment concerns and adoption factors in the Fintech environment are important variables.

THE MAIN DIRECTIONS OF INCREASING INVESTMENT ACTIVITY IN AGRICULTURE OF THE REPUBLIC OF KARAKALPAKSTAN

Agriculture plays a pivotal role in the economy of the Republic of Karakalpakstan, yet it faces significant challenges that hinder investment activity. This article explores the main directions for enhancing agricultural investment in the region, emphasizing the importance of financial incentives, infrastructure development, technological innovation, and public-private partnerships. By examining the current state of agricultural investment and identifying barriers to growth, the article proposes targeted strategies to attract both domestic and foreign investments. Ultimately, increasing investment activity is essential for improving productivity, ensuring food security, and fostering economic resilience in the region.

Global dynamics of the IPO market: structural analysis and growth prospects

The global IPO (Initial Public Offering) market continues to play a critical role in raising capital for companies across various economic sectors. However, its dynamics remain ambiguous due to cyclical fluctuations driven by economic, financial, and regulatory factors. The relevance of this topic lies in the increasing importance of understanding the forces shaping IPO success, given the globalization of financial markets and growing competition. A thorough examination of the factors that determine IPO performance and the future prospects of this mechanism is vital for stakeholders.The purpose of this paper is to conduct a comprehensive structural analysis of the global IPO market's dynamics, identify the key drivers of its development, explore regional differences, and assess the market’s growth potential amid ongoing global transformations. The focus of the study is the global IPO market, with particular attention to its economic, financial, and regulatory dimensions.The methodological approach centers on structural market analysis, utilizing statistical and comparative methods to explore market dynamics across different regions. The research is further grounded in an analysis of macroeconomic indicators, regulatory changes, investment trends, and technological advancements that influence the IPO market.This study examines the impact of financial market globalization, regulatory adjustments, and technological innovations on the development of IPOs in various regions worldwide. The role of macroeconomic stability, interest rates, and market volatility in shaping IPO demand is also explored. In addition, the research delves into sectoral differences and regional trends, particularly the activity of IPO markets in the U.S., Europe, and Asia.The conclusion addresses the growth prospects of the global IPO market amid continuous shifts in the global economy and provides practical recommendations for companies considering public offerings and investors interested in IPO market opportunities. The study highlights how firms can navigate these volatile conditions and what investors should consider when participating in IPOs.

Financial Inclusion, Technology Innovation and CO2 Emissions: International Evidence

This research examines the elaborate association between FI, CO2 emissions, and the moderating role of technological innovation across 83 countries. The study, which includes the years 2003 to 2022, uses data from the WDI to investigate the dynamics and consequences of these interrelated factors. The major goal is to determine the influence of FI on CO2 emissions, taking into consideration the moderating role of technical progress. Through principal component analysis, the study seeks to understand the underlying mechanisms driving these associations by employing various statistical approaches such as correlation analysis and Driscoll-Kraay standard errors. Initial data show a significant link between FI and CO2 emissions, but the degree of the association varies by nation. Furthermore, technological innovation has been shown to have a significant moderating effect, increasing the effect of FI on CO2 emissions. Based on these findings, the research suggests policies that make use of the associations between FI and technological innovation in order to promote sustainable development. Overall, this study advances our consideration of the complex relationship between FI, CO2 emissions, and technological innovation, providing significant insights for policymakers and stakeholders working for environmental sustainability and economic inclusiveness.

Research on the Measurement of Gold Green Total Factor Productivity in the Yangtze River Economic Belt under the Background of Green Finance

With the continuous growth of the economy, the contradiction between finance and the environment has become increasingly prominent, and green finance has attracted much attention due to its sustainable development function. This study integrates green financial efficiency into green total factor productivity based on the two-stage super efficiency unexpected SBM model, and constructs the financial green total factor productivity of the Yangtze River Economic Belt from 2013 to 2021. The convergence model is used to verify the convergence of productivity development. The research results indicate that, in terms of time dimension, the efficiency of green finance in the Yangtze River Economic Belt is relatively stable, the level of financial ecological performance first decreases and then increases, and the financial feedback ecological performance remains at a high level for a long time. The overall trend of financial green total factors is increasing, and financial green technology innovation is an important driving factor for the increase; In terms of convergence testing, no significant alpha convergence was found in the upper, middle, and lower reaches of the Yangtze River Economic Belt, and the regional differences did not significantly decrease. However, there was overall beta convergence, indicating a "catch-up effect" from low productivity provinces to high productivity provinces.

Do Financial Regulation and Technology Matter in Fostering Green Growth?

Effective regulation and technological innovation are key factors in driving the implementation of green growth initiatives. This research investigates how financial regulation and technological innovation influence green growth, proxied by carbon productivity, with data from 1996 to 2020 across ASEAN-5 Countries. A Panel Dynamic Ordinary Least Square (DOLS) model is conducted to analyze the long-run effect on each variable. The result showed that financial regulation, proxied by regulatory quality and economic freedom, positively and significantly influences green growth. Meanwhile, technological innovation has a positive but not significant influence on green growth. According to the findings, this study proposes adopting top-tier regulations and a step-by-step approach to realizing green growth. Meanwhile, the government can also open an investment as funding to improve innovation in green technology

Sustainable Supply Chain Management for Business Competitiveness: A Systematic Literature Review

The goal of this systematic literature review (SLR) is to present a thorough examination of the connection between corporate competitiveness and sustainable supply chain management (SSCM). Based on 74 publications from reliable sources, including Science Direct, JSTOR, IEEE Xplore, Google Scholar, Scopus, and Web of Science, this review combines data to highlight important concepts, conceptual frameworks, and research findings. According to the review, supply chain strategies that incorporate sustainability principles can improve social responsibility, environmental performance, and economic viability—all of which support long-term competitiveness. The analysis reveals that among the key success factors within SSC that are related to social and environmental impacts, operational resilience and continuity, financial performance, technological innovation, technological innovation, differentiation, regulatory compliance and industry standards, customer satisfaction and loyalty, and resource efficiency and cost savings. Transparency and traceability, market and reputation benefits, risk management techniques, and circular economy ideas are some of the best ways that SSC practices boost company competitiveness. However, some of the biggest obstacles to supply chain management (SSCM) that undermine firm competitiveness are high beginning costs, complexity, supply chain interruptions, and market constraints. The review expands on our knowledge of the ways in which SSCM boosts corporate competitiveness. Discussions are held regarding conclusions, suggestions for additional study, and theoretical and practical ramifications.

Supply chain finance on corporate debt financing behavior under uncertainty

At present, the world is undergoing a major change that has not been seen in a century. How to deal with the increase in environmental uncertainty has become an important problem facing the high-quality development of Chinese enterprises. Chinese enterprises generally face financing constraints, and weak debt financing channels hinder the process of high-quality development of enterprises. How to improve debt financing capabilities has become a practical problem that Chinese enterprises urgently need to solve in response to the increase in environmental uncertainty. This paper first introduces the concept, characteristics and common patterns of supply chain finance , and also explains the definition of uncertainty environment and its impact on corporate operations and financing. By systematically combing through relevant domestic and foreign literature, this paper summarizes the results of existing research on supply chain finance, uncertainty environment and corporate debt financing behavior, laying a theoretical foundation for subsequent analysis. Secondly, this paper demonstrates the specific application of supply chain finance in an uncertain environment and its impact on corporate debt financing behavior through case analysis. By analyzing the success factors of these cases, such as risk management, support from financial institutions and technological innovation, the application value of supply chain finance in an uncertain environment is revealed. It is hoped that theoretical support and practical guidance will be provided for policymakers, financial institutions and enterprises to promote the development of supply chain finance and promote sound financing of enterprises.

The Role of the U.S. Dollar in Global Trade Finance: A Study of Its Dominance and Future Prospects

This paper digs deep on what reason has led the U.S. dollar to be a dominant force for years mainly due to its stability, liquidity, and greater usage within international markets. It has made it the world's reserve currency did not just serve as an enabler for far-flung international trades and investments but also led to the establishment of the United States in terms of standing in economic and geopolitical standing. Historical factors concerning the dollar's increasing popularity over time are addressed in this paper-from the post- WWII establishment of the Bretton Woods system to the moments well after the death of the gold standard. It further explores shifting threats to the supremacy of the dollar and key drivers that might change the financial environment in the world. These are the economic ascension of emerging markets, particularly China, seeking to internationalize the yuan; extension of the BRICS bloc, composed of Brazil, Russia, India, China, and South Africa, and their joint thrust toward depolarization. Digital currencies and blockchain technology provide an emerging alternative that would allow countries to bypass traditional banking systems or lessen their dependency on the dollar when making cross-border transactions. The discussion explores how geopolitical stress - whether a trade war or the imposition of sanctions, as examples - may push the shift away from the dollar, based on a focus on increasing foreign reserves' diversity and insulation against the over-reach of the US. In addition, the paper went through how adjustments in global financial regulation, technological innovation, and central banks' policies may have an impact on the safe-haven status the dollar enjoys. Through a combination of both quantitative and qualitative methods, this paper examines the continued relevance of the dollar at the international level in terms of trade and finance. Indeed, it envisions possible scenarios: the continued reign of the dollar, the emergence of rival currencies, and the new politics of global economic crises over currency dynamics. But if nothing else, it provides a more refined and multi- dimensional view of what is going on with the dollar today and what may go on in the future in an increasingly multipolar world economy. These insights will be critical when policymakers, financial institutions, and global businesses negotiate their way through uncertainty in changing currency landscapes. Keywords: U.S. dollar, global trade, finance reserve, currency economic, uncertainty emerging economies, digital currencies, geopolitical shifts currency competition.

The effects of buy now, pay later (BNPL) on customers’ online purchase behavior

Recent innovations in financial technology (FinTech) have introduced short-term financing options for customer loans, allowing customers to make purchases and pay for them in future installments without incurring interest, a model commonly referred to as Buy Now, Pay Later (BNPL). Despite the increasing provision of BNPL by online retailers, there remains a limited understanding of its effects on customers’ online purchase behavior. To address this gap, we utilize a synthetic difference-in-differences research design to estimate the impact of customers’ BNPL adoption on their online purchase behavior, specifically measured by order size. Our empirical results indicate that customers who adopt BNPL provided by a focal retailer have a higher order size than those who use traditional payment services. Our empirical estimates indicate an increase of 6.42% in online spending by customers adopting BNPL. Additionally, we examine the moderating effects of various customer segments - including loyalty, category experience, and promotion sensitivity - as well as demographic factors such as age, income, household size, and product characteristics, particularly low-ticket items. The impact of BNPL adoption is found to be amplified among customers with high levels of category experience and promotion sensitivity. Conversely, the effect is attenuated among older and higher-income customers, indicating that younger and low-income customers are the primary drivers of this effect. Moreover, our analysis demonstrates that purchases of low-ticket items predominantly drive the observed effect. This study provides strategic insights for online retailers concerning the implementation and targeting of BNPL as an effective online payment option.

Financial Technology (Fintech) as a Driver for Poverty Reduction in Nigeria

ABSTRACT: The human race has been confronting the issue of poverty which is threatening its continued existence for a long time. Poor access to finance can lead to poverty this breeds health issues, lack of access to social and recreational facilities, social delinquencies, reduced living standard, malnutrition and economic difficulties. The goal of defeating poverty in its various ramification remains a cardinal concern for policy formulators in the Nigerian state and international bodies such as the World Bank and United Nations. Following the thriving emergence of financial technology (fintech) in Nigeria, there exist a dearth in academic researches to examine how fintech can be a driver in the reduction of poverty. This study examined the impact of financial technology on poverty reduction in Nigeria. Data on poverty rate, financial technology, mortality rate, literacy rate and gross domestic products were obtained from the National Bureau of Statistics (NBS) in Nigeria and the Central Bank of Nigeria (CBN) statistical bulletin for the period of 1991 – 2021. This study employed the multiple linear regression estimation technique to analyse collected data as it examines a cross-section of major key independent variables across a time series data, on the premise of a common effect model. Data analysed indicates a negative and significant nexus between poverty rate and financial technology innovation. The result also suggest that literacy rate and poverty rate have a negative and insignificant relationship. The poverty rate was also found to be positively and insignificantly related to mortality rate and gross domestic products respectively. The study findings have several significant policy implications. Firstly, infrastructures that support internet and mobile telephony should be expanded by providing incentives for investment since technology is the backbone of the operations of fintech. Secondly, education on fintech, information communication technology and finance should be increased to fill the gap among citizens who are not technological inclined especially in the rural areas to increase the use of fintech. Lastly, there should be further regulatory interventions through reforms to remove the barriers to credit.

Analysis of Sharia Partnership Program Implementation, Sustainability Management, and Green Technology Use on Sustainable Economic Development in Banten

This study examines the impact of the Sharia Partnership Programme, sustainability management, and green technology use on sustainable economic development in Banten. Employing a quantitative approach, data were collected from 170 respondents using a Likert scale and analyzed using Structural Equation Modeling-Partial Least Squares (SEM-PLS 3). The results indicate that all three factors have significant positive effects on sustainable economic development, highlighting the importance of integrating ethical financial practices, sustainability management, and technological innovations. The findings suggest that these strategies play a crucial role in promoting sustainable growth, offering valuable insights for policymakers and business leaders seeking to enhance sustainability efforts in Banten and similar regions. This study contributes to the theoretical understanding of sustainable development and provides practical recommendations for fostering economic growth that aligns with social and environmental goals.

The effect of eco-friendly and financial technologies on renewable energy growth in emerging economies

Successfully integrating renewable energy sources depends on eco-friendliness, financial technology, and economic growth (GDP). This paper examines the dynamic effect of innovative financial and green technology on renewable energy for 38 emerging economies from 2006 to 2021. Using the dynamic First-difference Generalized Method of Moments (FD-GMM) model, the analysis identifies a critical GDP threshold of 1831.772 US dollars, significant at the 1 % confidence level. Below this threshold, GDP negatively affects green energy adoption, while above it, GDP positively influences the shift to greener energy, supporting the predicted U-shaped relationship in the data. The results conclude that eco-friendly and financial technology positively and significantly influence renewable energy adoption, where the dynamics and barriers to adopting eco-friendly and financial technologies in emerging countries may differ from those in developed nations. Based on the findings, relevant energy policies have been recommended for energy stakeholders, Tech firms and decision-makers.

The Impact of Food Delivery Riders’ Perception of Fairness on Organizational Identification in the Digital Economy: Based on the Intermediary Perspective of Organizational Trust in the Context of Digital Technology

With the rapid rise in the gig economy driven by advancements in digital technology and financial technology, this study focuses on the work experiences and psychological perceptions of food delivery riders in platform-based employment. This study used a sample of food delivery riders from 19 cities in China (such as Shanghai, Beijing, Guangzhou, etc.) and multiple delivery platforms (such as Meituan, Ele.me) to collect data through a combination of online and offline questionnaires. The impact relationship between perceived fairness, organizational trust, and organizational identity of food delivery riders was examined through factor analysis, structural equation modeling, and mediation effect modeling. The results of the survey and statistical analysis indicate that fairness perception and its dimensions (distributive fairness, procedural fairness, and interactional fairness) significantly influence riders’ organizational identification, with organizational trust serving as a critical mediating factor. The integration of digital technology has substantially enhanced the operational efficiency of platform-based employment by enabling real-time tracking, transparent communication, and data-driven decision-making. Innovations in financial technology, such as digital payment systems and financial management tools, offer riders safer and more convenient compensation methods, thereby contributing to their financial stability and fostering trust in the platform. The establishment of trust alleviates the riders’ concerns regarding compensation stability and bolsters their optimistic attitudes toward accessing platform resources and meeting their needs. This study provides significant insights and recommendations for leveraging digital technology and financial technology to improve the relationship and operational efficiency between riders and platform enterprises.

The nexus between technological innovation, human capital and energy efficiency: Evidence from E7 countries

Enhancing energy efficiency is very effective in supporting environmental sustainability. Financial inclusion, human capital, and technological innovation are newly cited as dominant factors for environmental sustainability in emerging economies. Against this background, this study investigated how financial inclusion and technological innovation affected energy efficiency in E7 countries from 2004 to 2021. The study identifies the diverse effect of variables at different quantiles through a novel Moments Quantile Regression (MM-QR) method to explore the heterogeneous interconnection among the variables. The MMQR outcomes suggest financial inclusion positively affects energy efficiency across all quantiles. Besides, the findings show that human capital positively affects energy efficiency in E7 countries at lower, medium, and higher quantiles. At the same time, estimated outcomes suggest that technological innovation promotes energy efficiency only at lower quantiles. This study recommends appropriate policies for decision-makers in E7 economies based on the study outcomes regarding adequately channelling human capital, financial resources, and technological innovation to promote energy efficiency and achieve sustainable development goals.

Advancing financial inclusion and technological innovation through cutting-edge software engineering

Advancing financial inclusion and technological innovation through cutting-edge software engineering

Transformasi Regulasi Pengembangan dan Penguatan Sektor Keuangan Otoritas Jasa Keuangan: Sebuah Evaluasi dan Rekomendasi

This research aims to exploratively evaluate the implementation of the Financial Sector Development and Strengthening Law (P2SK Law) of the Financial Services Authority (OJK), which has been little researched. The research method used a qualitative approach with interviews to explore in depth. Informants consisted of OJK representatives, banking representatives, and customers. Data were analyzed thematically for key findings and their correlation with theory. The results show OJK has socialized the law, but there are challenges adapting to the complex rules, requiring additional investment in technology and human resources. Recommendations include increased socialization, cooperation with financial institutions, digital education, close supervision, technological innovation, and consultation forums.