Use Of Financial Technology Research Articles

Social trust and household financial decision-making: An empirical study based on the usage of household financial technology

This paper utilizes data from the China Household Finance Survey (CHFS) to examine the impact of social trust on household financial decision-making. The results indicate that social trust significantly enhances the adoption of financial technology by households, and this positive effect is further strengthened by an improved understanding of financial knowledge. Additionally, an analysis of regional heterogeneity reveals varying impacts across different areas. It is recommended that policies focus on enhancing social trust and regional education levels to facilitate the use of financial technology and improve decision-making outcomes.

ВПЛИВ FINTECH НА РОЗВИТОК СТРАТЕГІЙ РЕАЛІЗАЦІЇ ТА ПЕРСОНАЛІЗАЦІЇ ІТ-ПРОДУКТІВ

Modern FinTech solutions significantly change traditional approaches to the development, implementation and sale of IT products, allowing companies to create unique financial instruments, reduce transaction costs and increase competitiveness. But the questions remain unclear which FinTech tools have the greatest impact on IT product implementation strategies and whether the use of financial technologies really affects the personalization of IT products in terms of efficiency and scalability. The purpose of the study is a comprehensive study of the influence of financial technologies (FinTech) on the development of strategies for the implementation and personalization of IT products, with the identification of key FinTech tools that contribute to the improvement of the processes of development, implementation and adaptation of IT products in accordance with the specific needs of users and markets. The object of the research is payment services as an innovative segment of FinTech and their marketing in the modern market, namely aspects related to the development, implementation, promotion and use of payment services. Scientific publications and monographic editions, magazine articles and materials of scientific and practical conferences became the methodological basis of the research. During the research, content analysis of scientific periodicals was used; comparative critical analysis of existing approaches and methods of analysis of financial stability and tax burden; statistical methods of analysis. The main hypothesis of the research is that FinTech technologies allow IT companies to more accurately adapt their products to the individual needs of users, which contributes to increasing the level of customer satisfaction, increasing loyalty and competitiveness of companies in the market. Presentation of the main material. The study analyzed the main FinTech tools, their impact on the business processes of IT companies, as well as possible risks and barriers to their integration. The relationship between the use of FinTech solutions and the improvement of the effectiveness of personalization of products, which positively affects the competitiveness of companies on the global market, is determined. Based on the results of the research, practical recommendations were formulated for IT companies regarding the optimal use of financial technologies in the processes of product implementation and personalization. Originality and practical significance. Key FinTech tools and their impact on the effectiveness of implementation strategies are considered, as well as the main challenges and risks associated with the integration of financial technologies into the development and implementation of IT products are identified. Based on the results of the research, recommendations are proposed for the use of FinTech to increase the effectiveness of personalization and scaling of IT products on the global market. Conclusions and prospects for further research. The analysis showed that the use of FinTech solutions allows IT companies to bring products to market faster, reducing the time for processing payments and interaction with customers, which improves the efficiency of business processes and allows companies to focus on the development of innovative products. Thanks to access to users' financial data and the latest algorithms for processing this data, companies can develop products that more accurately meet the needs of individual users. This contributes to increasing customer satisfaction, as well as the formation of long-term brand loyalty.

Do Perceived Security and Financial Literacy Affect the Use of Financial Technology?

Do Perceived Security and Financial Literacy Affect the Use of Financial Technology?

The Fetters of Financial Neocolonialism in African Countries

African countries are actively involved in the formation of a multipolar world, gradually gaining political and economic independence from European states. Within the framework of the concept of neocolonialism, the main stages of the transformation of relations between former colonies and former colonizers are analyzed. In recent decades, financial dependence, which came to be called financial neocolonialism, has become an increasingly obvious and powerful instrument of economic pressure from metropolitan states. Thus, through transnational corporations and currency unions, European countries, on the one hand, pumped out rent from African countries in the sectors of extraction and primary processing of minerals, monopolized consumer markets, and on the other hand, actually took control of the financial development of many African countries, preventing the formation of financial sovereignty. Such unions primarily include two associations: the West African Economic and Monetary Union (WAEMU) and the Economic Community of Central African States (ECCAS). The development of financial technologies is considered by some researchers as a possible way to escape colonial dependence. However, aware of these risks, European countries are advocating a counter-attack strategy that extends to controlling or limiting the use of financial technologies and cryptocurrency markets in particular. Possible solutions have been proposed to overcome this dependence by strengthening economic ties between African countries and Russia and China. The BRICS+ association, which already includes several African countries, could serve as a basis for all future initiatives.

Studying the mediating role of blockchain on the impact of the use of financial technology (FinTech) on the competitive advantage of banks

Studying the mediating role of blockchain on the impact of the use of financial technology (FinTech) on the competitive advantage of banks

Impact of bank financial technology on the performance of banks in the European Union

This article examines how financial technology determines bank performance in different EU countries. The answer to that question would allow banks to choose their development policy. The paper focuses on the main and most popular bank services that are linked to financial technology. A SWOT analysis of FinTech is also presented to show the benefits and drawbacks of FinTech. FinTech-based services are very diverse and are provided by financial firms and banks alike. This paper looks at the financial technology provided by banks: internet usage (internet banking), number of ATMs, credit transfers in a country, percentage of the population in a country holding a debit or credit card and whether that population has received or made a digital payment. Using the multi-criteria assessment methods of CRITIC and EDAS, the authors analysed and compared the countries of the European Union and the financial technology used in them. As a result of the application of these methods, the EU countries under consideration were ranked in terms of the use of financial technology. Subsequently, three banks from different countries with different levels of the use of financial technology were selected for the study. For these banks, financial ratios of profitability were calculated to characterise their performance. Correlation and pairwise regression analyses between the banks’ profitability ratios and financial technology were used to assess the relationship and influence between these ratios. The main conclusion of the study focuses on the extent to which financial technology influences the performance of banks in the selected countries. It is likely that further research will try to take into account the size of the country’s population when analysing all financial technologies. Researchers also needed to find out what influence financial technologies have on the such financial indicators as operational efficiency (costs), financial stability, and capital adequacy.

Efficient Use of Financial Technology in Consumer Finance Companies

With the rapid advancement of China's economy, the demand for consumer credit has surged, driven by diversified consumption scenarios and product categories. Consumer finance companies, alongside traditional commercial banks, have become pivotal in meeting this demand. The integration of financial technology (fintech) into the consumer finance sector has revolutionized the entire business process, encompassing pre-lending, lending, and post-lending phases. This study explores the application and impact of fintech on consumer finance companies, focusing on customer acquisition, risk management, and operational efficiency. Additionally, the study addresses the emerging risks associated with fintech, such as technological black boxes and algorithmic biases, which pose new challenges for risk management. By analyzing the fintech-enabled business processes and risk control mechanisms, this paper provides insights into optimizing fintech applications to enhance efficiency and mitigate risks in consumer finance companies.

KUALITAS SDM DAN LITERASI KEUANGAN PADA UMKM DI ERA DIGITALISASI: SYSTEMATIC LITERATURE REVIEW

This research aims to examine the quality of human resources (HR) and the level of financial literacy in micro, small and medium enterprises (MSMEs) in the era of digitalization through a systematic literature review. The method used is a systematic review of scientific literature published in the last five years. In the era of digitalization, increasing financial literacy is crucial for the sustainability of MSMEs, especially in terms of digital financial management and the use of financial technology. This research also identifies several challenges and opportunities in efforts to improve the quality of human resources and financial literacy of MSMEs in the digital era. These findings provide important implications for policy makers and practitioners in designing effective HR capacity and financial literacy development programs for the MSME sector in the era of digitalization. This literature study shows that the quality of human resources, MSME players are required to be creative and innovative, easily adapt to new technology, have digital skills in various work sectors, and have a high entrepreneurial spirit, as well as being able to deal with automation and artificial intelligence. Meanwhile, financial literacy also has an important role in encouraging the digitalization of MSMEs. MSME players are required to have financial knowledge related to money management, financial knowledge to assess performance periodically, financial behavior in budgeting, and attitudes towards future plans, and financial behavior regarding monthly spending budgets.

PENGARUH LITERASI KEUANGAN, SIKAP KEUANGAN DAN PENGGUNAAN FINANCIAL TECHNOLOGY TERHADAP KEPUTUSAN INVESTASI MELALUI PERILAKU KEUANGAN SEBAGAI VARIABEL MODERATING PADA SISWA SMA NEGERI 1 SITUBONDO

The aim of this research is to analyze the influence of variablesThe Influence of Financial Literacy, Financial Attitudes and Use of Financial Technology on Investment Decisions through Financial Behavior as a Moderating Variable in Situbondo 1 Public High School Students. By using the Partial Least Square (PLS) Structural equation model. Results of direct influence hypothesis testing using the Smart PLS 3.0 application. Financial literacy has a negative but significant effect on investment decisions, Financial attitude has a negative but not significant effect on investment decisions, Use of Financial Technology has a positive but not significant effect on investment decisions, Financial behavior is significantly moderating variable for the influence of financial literacy on investment decisions, financial behavior is significantly the moderating variable for the influence of financial attitudes on investment decisions, and financial behavior is significantly the moderating variable for the influence of the use of financial technology on investment decisions.

The influence of financial literacy and the use of financial technology on business performance through financial inclusion

That are many factors that can influence country's economic growth. Given its important contribution to Gross Domestic Product (GDP) and job creation, it is necessary to further study what factors can affect the existence and the performance of SMEs. This study aims to analyze the effect of financial literacy and the use of financial technology on the performance of SMEs mediated by financial inclusion. The data was collected using purposive sampling technique by distributing questionnaire. The sample of this study consists of 150 culinary SME actors in Malang City that have used QRIS (Quick Response Code Indonesia Standards) application as one of the payment methods. Collected data was analyzed using PLS software. The results showed that there is a significant influence between financial literacy and the use of financial technology on business performance. Financial inclusion can significantly mediate the effect of financial literacy and the use of financial technology on business performance.

Effect of Financial Literacy and Use of Financial Technology (FinTech) on Financial Behavior

Research Aims: Analyzing the Influence of Financial Literacy and the Use of Financial Technology (FinTech) on Financial Behavior in Bandung Regency Micro, Small and Medium Enterprises (MSMEs). Design/methodology/approach: This research uses a quantitative approach through correlational methods. Research Findings: The research results found: 1). Financial literacy has a positive and significant effect on financial behavior variables. 2). The use of financial technology (FinTech) has a positive and significant effect on financial behavior variables. 3). Financial literacy and the use of financial technology (FinTech) positively and significantly affect the financial behavior of micro, small and medium enterprises (MSMEs) in Bandung Regency. Theoretical Contribution/Originality: Further increase knowledge of financial management by actively participating in workshops or seminars related to financial management, insurance, investment and business fund management. And increasing financial technology (FinTech) knowledge by orienting to the latest news regarding technological developments in up-to-date financial products and services.

Closing the Gap between Financial Literacy and Financial Inclusion

Nowadays many people still trapped into some financial fraud because of lack of financial literacy. On the other hand, the Indonesian government are trying to increase public financial literacy rate in order to reach the financial inclusion rate through Strategi Nasional Literasi Keuangan Indonesia (SNLKI). Thus, this systematic literature review was done to discuss factors influence financial literacy so that it can be increased and cope with the financial inclusion rate. Several journal articles and related sources were selected and analyzed. The results found that financial literacy does affect financial inclusion and for the former rate be increased to close the gap with the latter, there are five factors need to consider, namely: formal education, socialization, family, government regulation, and use of financial technology. There are some recommendations of strategy for each factor that are discussed in hoping to help increase public financial literacy and support the government program through SNLKI.

Pengaruh Pinjaman Online Terhadap Kesehatan Mental Mahasiswa

This study investigates the impact of online lending on the mental health of information systems students at Atma Jaya University Yogyakarta class of 2022. The rapid advancement of financial technology (fintech) has introduced online lending as a popular financial option among students who need additional funds for daily needs or academic activities. However, easy access to online loans is often accompanied by significant financial stress, leading to psychological distress, high debt burden, and tight deadlines. This study aims to explore the long-term effects of online loan usage on college students' mental health. Using qualitative methods, data will be collected through a digital questionnaire distributed through Google Forms. This study hopes to provide valuable insights for the development of policies and educational programs that support the healthy and responsible use of financial technology.

Mixed-methods approach to investigating the diffusion of FinTech services: enriching the applicability of TOE and UTAUT models

PurposeThe rapid global use of Financial Technology (FinTech), an innovative and advanced technology, is leading to the replacement of traditional financial services. Despite this, consumers in the United Arab Emirates are still not accepting FinTech services as anticipated. This study aims to investigate the barriers preventing consumers from using FinTech services in the banking industry based on the technology-organisation-environment (TOE) framework and anchored by the unified theory of acceptance and use of technology (UTAUT).Design/methodology/approachThe current study used an exploratory sequential mixed-method design. A purposive sample was used to conduct preliminary semi-structured interviews with ten banking practitioners. These interviews aimed to explore the obstacles that hinder consumers from adopting FinTech services. To provide further empirical validation, the conceptual model has been systematically examined through a quantitative cross-sectional online survey encompassing a sample of 332 bank customers.FindingsThe qualitative investigation highlighted six new barriers to the usage of FinTech based on TOE’s model attributes. Through quantitative data analysis, the preliminary qualitative findings were primarily verified. It was discovered that self-efficacy, electronic word-of-mouth, system quality and bank image substantially influence consumers to use FinTech services, in addition to performance expectancy and facilitating conditions. Meanwhile, IT features and governmental support were found to have insignificant effects. Yet, government support was found to have a positive moderating role in strengthening social influence and system quality towards customer use of FinTech. Thus, the research supports the UTAUT and TOE models’ fitness for explaining FinTech usage with high predictive relevance.Originality/valueThis study is the authors’ pioneering effort to propose a comprehensive research framework that integrates the UTAUT and TOE models to tackle the limited adoption of FinTech services among consumers. Moreover, the study specifically examined the moderating influence of government support to propose an integrated model. Remarkably, this study is one of the initial attempts to investigate the adoption of FinTech using a mixed-methodology approach by incorporating quantitative and qualitative methods within a single inquiry to yield more comprehensive and insightful findings than research that relies on a single method.

The Impact of Financial Technology, Financial Literacy, and Financial Performance on Investment Decisions

As the number of players in the capital market increases and technological developments affect how and when individuals choose to invest, understanding the dynamics that influence these decisions becomes increasingly important. The purpose of this study was to analyze the effect of financial literacy, financial performance, and financial technology on the decision to invest in the people of Sumbaw City on the Indonesia Stock Exchange (IDX). The population in this study is the people of Sumbawa City who have invested in the Indonesia Stock Exchange (IDX), the sampling technique used is purposive sampling with a sample size of 100 respondents. The data analysis technique used is structural equation modeling-partial least square (SEM-PLS) with a Liketr scale from a range of 1 to 4. The results showed that financial literacy, financial performance, and financial technology partially had a positive and significant effect on investment decisions in the people of Sumbawa City. Based on the results of this study, it can be concluded that a high level of financial literacy will increase investors' understanding of managing investment risk and making smarter decisions. The company's financial performance also affects investor confidence in making investments, while the use of financial technology can facilitate access to information and investment transactions so as to influence investment decisions

Pengaruh Financial Technology dan Manajemen Keuangan Terhadap Perilaku Konsumtif Mahasiswa

This research aims to determine the influence of financial technology and financial management on student consumption behaviour. The population in this study was 168 students from the Economic Education Study Program at Jambi University Class of 2019-2020 and 118 people were sampled using proportionate stratified random sampling. This research is quantitative research with an ex post facto method. Data collection techniques use Google Forms. Data were analyzed using multiple regression statistical techniques. Based on the analysis, it shows that the financial technology variabel has a positive and significant effect on consumer behaviour. The more students use financial technology in financial transactions, the more consumptive their behaviour will be. Financial management variabels have a positive and significant effect on consumer behaviour. The better students manage their finances, the more consumptive their behaviour becomes. Simultaneously, financial technology and financial management have a positive and significant effect on student consumption behaviour. The higher level of use of financial technology accompanied by good financial management results in increasingly consumerist behaviour among students. The resulting regression model statistically has a very high ability to predict the influence of the use of financial technology and financial management on student consumptive behavior because it is supported by an R-square value of 96.8%. Based on the results of these findings, it is based on students' preferences in meeting their daily needs by making financial plans that suit their needs and consistently allocating them through wise use of financial technology so as not to behave consumptively.

Peranan Financial Technology dan Literacy Keuangan Untuk Meningkatkan Kinerja Keuangan UMKM di Wilayah Malang

The financial performance of key MSMEs is to be improved over time. Financial literacy is a determining factor to directly improve the use of financial technology and financial performance of MSMEs. Financial control moderates the effect of financial technology on financial performance, when MSMEs have strong financial control, optimal use of financial technology will further improve the financial performance of MSMEs. Financial institutions can also prioritise the development of financial literacy and education programmes to support MSME actors in achieving better financial outcomes.

Research Paper on the Adoption and Use of Financial Technology

Financial technology (fintech) has the potential to bring about significant changes in the financial sector, including increased access to financial services and greater financial inclusion for underserved populations. This paper investigates the adoption and use of fintech in developing countries, with a focus on the factors that influence its uptake and the potential benefits and challenges it presents. Using a mixed-methods approach, the study analyzes data from a variety of sources, including surveys, interviews, and case studies, to provide an in-depth understanding of the current state of fintech in developing countries. The results of the study show that fintech adoption in developing countries is driven by a combination of factors, including economic conditions, technological infrastructure, and regulatory environment. While fintech has the potential to bring about significant benefits, including increased access to financial services, improved financial literacy, and greater economic opportunity, it also presents challenges, including security and privacy concerns and the risk of further exclusion of vulnerable groups. Overall, the study highlights the need for a nuanced understanding of the complex factors that influence the adoption and use of fintech in developing countries and the importance of carefully addressing the potential challenges in order to maximize its benefits

The moderating role of IT governance on the relationship between FinTech and sustainability performance

The main aim of this study is to investigate the moderating effect of Information Technology governance on the relationship between the use of Financial Technologies and sustainability performance. The study used non-probability convenience and snowballing sampling approaches to collect data. The study collects a sample of 210 respondents targeting bankers in various positions from the Indian commercial banks. The study used structural equation modeling to estimate the results. The findings highlight the complex links between IT governance, FinTech, and sustainability-related concerns, emphasizing the importance of a comprehensive approach to sustainability. Banks can establish more complete strategies for sustainable growth by considering IT governance, FinTech, and ESG factors. The findings reveal that IT governance is critical in shaping banks’ strategic planning towards sustainable activities, evolution of Fintech, and technological advancements, which in turn influence significantly and positively sustainability performance. IT governance leads to increased adoption of Fintech and enhances sustainability performance, contributing to the growth of economic sustainability. Banks that strategically utilize IT governance to foster Fintech and sustainability performance improvements likely experience economic gains due to their focus on sustainable and technologically driven practices. The findings emphasize the importance of balancing sustainability efforts and suggest that banks that embrace IT governance while emphasizing ESG factors are more likely to embrace better sustainability performance. The findings offer advice for bankers and policymakers on how to strategically utilize technology to improve sustainability and economic performance while considering potential trade-offs.

PENGARUH LITERASI KEUANGAN, PERLINDUNGAN DATA, DAN CYBERSECURITY TERHADAP PENGGUNAAN FINANCIAL TECHNOLOGY

This study aims to test and analyze how the influence of financial literacy, data protection and cybersecurity on the use of financial technology. The independent variables in this study are financial literacy, data protection and cybersecurity, while the dependent variable in this study is the use of financial technology. This research is a quantitative research using primary data in the form of questionnaires. The population of this study is students of the Faculty of Economics and Business, Pamulang University. The sampling technique uses convenience sampling techniques so that a research sample of 134 respondents was obtained. The analysis tool used in this study is Smart-PLS. The results of this study are that financial literacy does not affect the use of financial technology, data protection has a positive effect on the use of financial technology and cybersecurity has a positive effect on the use of financial technology.