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Background/Purpose: The global economy is continuously changing with innovation and technological development. In the recent past, digital technology has revolutionized the banking sector and hence banks are readjusting their business strategies toward e-banking. Fintech companies with lower costs operations were taking over the banking business initially, and now are partnering with banks to increase their profits and customer base. Design/Methodology/Approach: The data for this case study has been gathered from secondary sources of information by referring to a number of research articles in journals and information from the internet. It is a case study research approach that seeks to assess fintech and banking digital transformation and aims to evaluate Fintech in Banking using SWOC analysis. Findings: Banks by partnering with fintech companies can expand their services instantaneously using data sets. It can offer a single platform to access various financial services and also introduce innovative, economical products, and services to customers. Integration of banks with fintech may lead to technical complexity. It is challenging to meet the rising expectations of the customers. Originality/Value: This paper analyses the role of fintech in banking and provides suggestions through evaluation. Paper Type: Case Study Research paper

This study measures financial inclusion for developing countries. Given that financial inclusion is determined by three dimensions: penetration, availability, and use of financial services, this study develops a composite financial inclusion index (FI index) by adding “mobile money”–related indicators to the three dimensions to correspond to the degree of financial inclusion in these economies. To address the main research question, a measure of financial inclusion is constructed using a two-stage principal component analysis (PCA) method by assigning weights endogenously. Data were collected through secondary sources, including the World Bank (WB) and International Monetary Fund (IMF) reports for 2012–2018International Monetary Fund, 2020 International Monetary Fund (IMF) reports for 2012–2018. A new detailed index of financial inclusion measurement termed overall FI index was built based on the study. It is a useful tool for policymaking and evaluation. Our composite FI index is easy to calculate and comparable across economies over time. Particularly, this approach can address the criticism of arbitrary weight selection and comprehensively reflects the degree of financial inclusion.

The subject of the research is the theoretical and practical current aspects of the study of the financial security of the banking system of Ukraine in the conditions of sustainable development. The aim of the research is to determine the essence and main components of the financial security of the banking system of Ukraine. Research methods. When writing the article, general scientific and special research methods used in the diagnosis of the financial security of the banking sector were used. Results of the investigation. Because of writing the article, it was established that the banking sector in Ukraine, despite the war, continues to work without interruption, at the same time implementing measures to strengthen its stability, strength and security. It has been established that the continuity of payments and the preservation of the banking system’s operation characterize one of the key aspects of preserving the stability and financial security of the banking system of Ukraine. It has been proven that the financial security of the banking system of Ukraine is the basis of stable, competitive, focused on European standards, activity and determines the prospective vectors of further development of the entire banking sector in the conditions of sustainable development of the country. It has been established that the security of the banking sector is the mechanism of financial security of the country on which the financial and credit policy of the state depends, and the state of the banking sector itself determines the level of financial and credit security and the level of financial security of the state. Scope of the results. Finance, Economy, Banking, Insurance, Risk Management, Investment. Conclusions. It is proven that in the conditions of sustainable development, the relevance of the financial security of the banking system of Ukraine acquires special importance, since the state of war and military operations in one way or another affect the security of financial resources of banks, the protection of customer information, property and personnel assets. It has been established that the issues related to ensuring the repayment of loans, increasing the profitability and profitability of banking activities, minimizing banking risks and guaranteeing the return of public deposits are particularly urgent. It is proposed that in order to ensure the financial security of the banking system in conditions of sustainable development, it is necessary to observe the following rules: maintain financial stability and independence at a high level; maintain and generate its technological, financial andmanagement potential; to carry out constant optimization of the structural mechanism of the bank’s activity; prevention of leakage of information and commercial secrets; synergistic development and preservation of all components of ensuring the bank’s financial stability and security. It was determined that the financial security of the banking system is an important component of the financial and national security of the country and such a state of the banking institution, which is characterized by balance and resistance to the influence of external and internal threats, its ability to achieve its goals and generate a sufficient amount of financial resources to ensure sustainable development.

The field of artificial intelligence (simulated intelligence) is a quickly developing one internationally. One of the early clients of artificial intelligence is the banking business. Banks are trying different things with and applying innovation in various ways. Consistently, artificial intelligence improves and becomes more astute. The use of artificial intelligence in the Indian banking industry, as well as its benefits and hardships, will be shrouded in this paper. FinTech headways made conceivable by man-made intelligence, as well as the different ways it would assist Indian saves money with working all the more effectively. There are a few potential for banking and financial services because of the ability to utilize state of the art Internet of Things (IoT) innovation to extricate client bits of knowledge through investigation and shape the data into consumables for other connected frameworks. In this article, engineering for the banking and money industry in view of the Internet of Things is introduced. It oversees portable, home, wearable, and other detecting gadgets for various applications, including retail banking, protection, and financial planning.

The digitalization of the economy provokes the rethinking of manufacturing processes. Despite numerous publications related to Industry 4.0 as a manufacturing approach, the production of fully digital and crypto-asset products was poorly researched. Besides having a supplementary role, crypto-assets may form an entire smart city product. The authors assess the manufacturing of smart city products, fully or partially formed by crypto-assets. The initial issuance of the crypto assets was usually addressed as an Initial Coin Offer, or through the process of increasing the issuer’s capital. The authors assess the Initial Coin Offer, and address it, like manufacturing to produce products for sale. The authors classify all milestones related to the crypto-assets’ issuance, distribution, and revaluation, and assign incomes and expenses to each milestone. Additionally, the ICO-based production costs and revenues were classified according to crypto-asset types, as defined by European Economic Area legislative acts.

Technological advancement has created the possibility of providing investment advice and managing funds without any, or with only limited, human intervention (so-called robo-advice). In this paper, it is argued that robo-advisory services offer additional protection to retail investors since they - contrary to execution only services provided by online brokers - require a suitability test. However, robo-advice also creates certain risks, in particular because of the lack of personal contact and the use of algorithms. Therefore, financial intermediaries offering robo-advisory services must clearly explain the concept of robo-advice, ask clear and sufficient questions, ensure their algorithms provide suitable advice and provide clear, comprehensible and not-misleading information. As far as enforcement is concerned, financial supervisors must be able to verify the algorithms used and retail investors suffering damages because of unsuitable investment advice must be entitled to compensation, without having to prove that the algorithm was flawed.

The digital economy is a new business environment that enables enterprises to operate and provide services via the Internet and digital platforms. The study was on the effect of economic digitisation on growth of SMEs in Nairobi CBD. The specific objectives were to determine the effect of digital financial services, digital content, digital values and skills and the effect of online advertising on the growth of small and medium enterprises. The sample size in this study was 1000 SMEs formally registered in the study area from where a sample of 300 was randomly selected. The questionnaire was employed for the purpose of data collection from which out of the 300 questionnaires distributed, 180 were returned representing a 60% response rate. Guided by the research objectives, the data collected through the questionnaire were sorted, coded and presented in graphical and tabular forms for the purpose of descriptive analysis. To determine the significance of the relationship between the dependent and independent variables, a regression analysis was carried out using the Statistical Package of Social Sciences (SPSS) version 24. The study established that digital financial services were significant factors in ensuring growth of SMEs in Kenya. The study concluded that Mobile payments have become a favorite means of making financial transactions. The study also established that Applications available for mobile digital devices is expected to increase enormously. Digital payment technology has increased over the last decade. From the findings, it was concluded that Consumers grow more familiar with the different payment systems available and encourage more transactions. The SMEs should explore the possibility of forming a management committee to streamline economic digitisation issues. It is recommended that the organization clearly spell out economic digitisation procedures and criteria. This can stir positive growth among SMEs establishments and can result in effective management. The Government and the various agencies should also make provisions for training programs for SMEs to empower them in terms of economic digitisation. The SMEs should not rely on external professionals to assist in digitisation as this may be expensive. It is also recommended that the SMEs should adopt digital financial services. E-commerce will ensure increased profitability for small and medium enterprises. They should also have Social networking sites, which have proved to be popular online activities in relation to time, spent. They should also adopt Innovation driven entrepreneurship as it contributes to increase in sales revenue, market share, efficiency, customers’ loyalty and firm profitability.

Business platform models often achieve industry disruption through the elimination of barriers such as time and space by implementing smart and sophisticated software that captures, analyzes, and exchanges huge volumes of data. Central to business platforms is their online participative infrastructure that facilitates interaction between many external producers and consumers where the exchange of goods, services or social currency enables value creation for all involved. This study adopts an exploratory approach to improve existing understanding about the strategies that financial platforms implement. In addition, we explore what incumbents are doing to 'survive' and if the measures they are taking are sufficient to achieve survival. Further, we examine whether customer-focused strategies, such as Experience-Based Offerings (EBOs), provide the best solution for financial service firms to gain competitive advantage. The findings show that strategies can be implemented successfully by integrating technology to improve, personalize, and customize customer experiences, while managers and employees can add quality to experiences. This study contributes to our understanding of business platforms by identifying how they are designed and managed, and how incumbents can learn from them to respond to the challenges presented by today's rapidly changing consumer behavior. Based on our findings, we extend existing conceptual models that can be used to achieve platform-based financial service goals.

The rapid growth of US financial services coupled with rapid increases in wealth inequality have been focusing policy debate as to the function of the financial sector and on its social desirability as a whole. I propose a heterogeneous agent model with asymmetric information and matching frictions that produces a tradeoff between finance and entrepreneurship. By becoming bankers, talented agents efficiently match investors with entrepreneurs, but extract excessive informational rents due to contract incompleteness. Thus the financial sector is inefficiently large in equilibrium, and this inefficiency increases with wealth inequality. The estimated model with time variation in the banker capacity accounts for the simultaneous growth of wealth inequality and the financial sector in the US. The endogenous feedback between inequality and the size of the financial sector is quantitatively important.

In this paper, we examine the relationship between professional financial advice (PFA) and subjective well-being (SWB). Utilizing the Dutch Household Survey 1995–2018, we find that regarding a professional financial advisor as most important source of financial advice is associated with higher levels of SWB. This association is stronger for households that experienced an increase in income, individuals who do not consider themselves financially knowledgeable, and individuals that have a weaker internal locus of control and have a lower degree of conscientiousness.

This paper shows how one of the most popular savings products in Europe -- life insurance financial products -- shares market risk across investor cohorts. Insurers smooth returns by varying reserves that offset fluctuations in asset returns. Reserves are passed on between successive investor cohorts, causing redistribution across cohorts. Using regulatory and survey data on the 1.4 trillion euro French market, we estimate this redistribution to be quantitatively large: 1.4% of savings value per year on average, or 0.8% of GDP. These findings challenge a large theoretical literature that assumes inter-cohort risk sharing is impossible. We develop and provide evidence for a model in which the elasticity of investor demand to predictable returns determines the amount of risk sharing that is possible. The evidence is consistent with low elasticity, sustaining inter-cohort risk sharing despite predictable returns. Demand elasticity is higher for investors with a larger investment amount, suggesting that low investor sophistication enables inter-cohort risk sharing.

Purpose: Researchers, practitioners, government leaders, as well as other stakeholders keep expressing a great deal of interest mostly in the close connection between economic inclusion with women having entrepreneurship on a both national and international scale. Theoretical framework: The fundamental objective is still to increase women's access to finance so they can engage in entrepreneurship. The latest evidence exploring the connection between women's entrepreneurship as well as financial inclusion has generated an assortment of findings that are more conventional than reality. Design/methodology/approach: This study looked into how financial inclusion affected the functioning of women-owned enterprises in Vellore, Tamilnadu, India. One thousand two thousand seventy-four (1,274) women-owned Small and medium enterprises, Small and Medium Businesses (MSMEs) registered with MSME made up the participants in this investigation, as well as three hundred fifty-seven (357) MSMEs being chosen as such sample size. Findings: The research used structured questionnaires and in-person interviews to collect data. Multiple Regression (Ordinary Least Square Estimate), as well as Pearson Product Moment Correlation Coefficient, were used to examine the data. Findings indicated that the efficiency of women-owned enterprises is positively and significantly impacted by financial inclusion. Research, Practical & Social implications: In hopes of reducing the gender disparity in financial intermediation, it is advised that the administration put laws and legislative regulations in place. Originality/value: Recognizing the crucial role that women-owned businesses play in the country's economic expansion and continue to increase gender diversity to foster an atmosphere of innovation.

In China, the relationship between smart city policy (SCP) and the development of digital inclusive finance (DIF) partially mirrors the connection between the Chinese government and large private capital. This study examines this relationship using data from the Peking University Digital Financial Inclusion Index of China (PKU-DFIIC) and a difference-in-differences method. Results indicate that SCP may indirectly promote DIF in pilot cities, exhibiting statistically significant growth compared to non-SCP pilot cities. This promotion effect appears indirect, as negligible DIF digitization growth in SCP pilot cities suggests that the government’s objective is not to enhance large private capital-related digital infrastructure construction. Moreover, DIF in SCP pilot cities demonstrates a statistically significant increase only in the depth of use, not in coverage. This study implies that, in China, large private capital’s behavioral logic is profit-seeking, and SCP may be employed to facilitate digital financial services development. These findings uncover SCP’s complex impact on DIF in China and the strained government–capital relationship. The Chinese government should prudently manage its relationship with capital in public policies and direct capital toward a more constructive role.

Income inequality has long been an important issue in development economics. Applying international data from 119 countries between 2004 and 2018, this study discusses the relationship between the accessibility of financial services and income inequality. Using the density of the bank branch network to represent the accessibility of financial services, we discover that income inequality is negatively related to the accessibility of financial services, especially in less developed countries and regions. In this nexus, the poverty ratio serves as an intermediary variable. The significance of the nexus is weaker in countries where fintech is more popularized, indicating the substitution effect between fintech and traditional banking services. Nevertheless, the substitution effect is limited, and bank branches will keep playing an important role in delivering financial services. For countries with inadequate banking services, bank branches should be increased to encourage residents to participate in the financial system, while it is no longer necessary to add a large number of branches in countries where fintech has been popularized. Faced with the trend of financial digitalization and the economic shock caused by the COVID-19 pandemic, banks should launch more online services and increase intelligent machines in the branches. By doing so, financial services are more resilient to social changes, so as to alleviate the inequality of income distribution in the long term.

Purpose – This paper aims to discuss the proposed model, called Integrated Cash Waqf and Islamic Crowdfunding Model (I-CWCM), for small and medium enterprises (SMEs), including micro-enterprises and household businesses in the digital era.Methodology – The author documents some cash waqf models and Islamic crowdfunding models that have been developed by previous researchers. And then modified and introduces the I-CWCM model based on the relevant literature study.Findings – In this model, the cash waqf funds (temporary and perpetual) will be invested in Islamic investments and productive asset programs. The investment return gained from cash waqf investments will be utilized for providing financial services by using PLS financing schemes and non-PLS financing schemes for SMEs.Implications – The article is conceptual in nature, and the developed model has not been tested either through interviews or empirical testing. For further research, it is necessary to validate the model either through interviews or by developing hypotheses. Furthermore, the I-CWCM will be possible to set up Islamic social finance institutions, Islamic financial institutions, and Islamic microfinance institutions in a country with a majority Muslim population like Indonesia, especially in times of crisis such as Covid-19 outbreaks.Originality – The originality of this study is the I-CWCM will include two important unit funds: (1) the reserve fund is for sustaining the cash waqf founder, and (2) the backup risk fund is for addressing any risk in business and non-business financing activities.

When it comes to complex machine learning models, commonly referred to as black boxes, understanding the underlying decision making process is crucial for domains such as healthcare and financial services, as well as when they are used in connection with safety critical systems such as autonomous vehicles. As a result, interest in explainable artificial intelligence (xAI) tools and techniques has increased in recent years. However, the user experience (UX) effectiveness of existing xAI frameworks, especially concerning algorithms that work with data as opposed to images, is still an open research question. In order to address this gap, we examine the UX effectiveness of the Local Interpretable Model-Agnostic Explanations (LIME) xAI framework, one of the most popular model agnostic frameworks found in the literature, with a specific focus on its performance in terms of making tabular models more interpretable. In particular, we apply several state of the art machine learning algorithms on a tabular dataset, and demonstrate how LIME can be used to supplement conventional performance assessment methods. Based on this experience, we evaluate the understandability of the output produced by LIME both via a usability study, involving participants who are not familiar with LIME, and its overall usability via a custom made assessment framework, called Model Usability Evaluation (MUsE), which is derived from the International Organisation for Standardisation 9241-11:2018 standard.

Banking institution is a critical part of any country’s economy, which provides a variety of services for an individual or a business entity. Due to vast availability of banks and their services, it is a cumbersome task for a person to choose a bank for his/her specific need. In this regard, we introduced a computational framework for ranking a set of banking institutions based on people’s opinion. The introduced framework is based on aspect-based sentiment analysis and multi-criteria decision making (MCDM) approaches. To evaluate our methodology, we developed a sentiment dataset comprising reviews on four Indian nationalized banks, whose quality is evaluated using 9 aspects/attributes. In order to come up with holistic ranking, we employed simple majority voting on ranking obtained using three multi-criteria decision making methods viz. analytic hierarchy process, VIKOR, and fuzzy multi-attribute decision making. We observed that final ranking obtained using our method has a strong resemblance with real-life outreach of selected four Indian banks.

Operational risk has been among the three most significant types of risks in the financial services industry, and its management is mandated by Basel II regulations. To inform better labor decisions, this paper studies how workload affects banks’ operational risk event occurrence. To achieve this goal, we use a unique data set from a commercial bank in China that contains 1,441 operational risk events over 16 months. We find that workload has a U-shaped impact on operational risk error rate. More specifically, the error rate of operational risk events decreases first, as workload increases, and then increases. Furthermore, when workload is low, employees tend to make performance-seeking risks; however, when workload is high, employees tend to exhibit quality degradation due to cognitive multitasking. Based on the causal relationship between workload and operational risk events from the empirical analysis, we discuss staffing policies among branches aimed at reducing operational risk losses. We find that employing a flexible staffing rule can significantly reduce the number of operational risk events by 3.2%–10% under different scenarios. In addition, this significant performance improvement can be achieved by adding even a little bit of flexibility to the process by allowing employees to either switch their business lines in the same branch or switch branches within the same business lines on a quarterly basis. This paper was accepted by Vishal Gaur, operations management.

There are several areas that can be applied the machine learning techniques, one of which is the finance and economics sector, it can effectively help and assist on decision support on fraud investigation. In this sector the skills and methods of fraud is becoming more complicated. In financial sector there are a lot of fraud mechanisms from them money laundering is crucial activity to fraud. The main purposes of this study develop and recommend a machine learning algorithm for identification of Anti-Money Laundering. The bank data set collected from Commercial Bank of Ethiopia which has 14740 with number of missing value and then after effectively pre-processing the data set, the five different types of machine learning algorithms were used, these are support vector machine, Logistic Regression, Naïve Bayes Decision tree, and Random forest. From those machine learning algorithms, Random Forest the best performance with 99.1% accuracy.

In this paper, an attempt has been made to examine the evolution of corporate leverage of companies listed on the Johannesburg Stock Exchange (JSE) from 1994 to 2016. Analysis of the data set is organized around a sample of 126 listed companies across twelve sub-sector industries, namely, Banks, Financial Services, Life Insurance, Fixed Line Telecommunications, Nonlife Insurance, Health Care Equipment and Services, Pharmaceuticals and Biotechnology, Media, Technology Hardware and Equipment, Software and Computer Services, Electronic and Electrical Equipment and Support Services. 621 delisted companies were also briefly analysed to eliminate survivorship bias. Results of multiple regressions using two primary leverage measures and six commonly used determinants of capital structure were varied. Tangibility and growth were negatively related to debt while cost of debt was positively related to debt. Firm size, profitability and corporate tax rate yielded a varied relationship with corporate leverage. Only the growth capital structure determinant showed statistical significance. The overall findings indicate a rise in corporate leverage that coincides in tandem with major local and international economic events.

Esta investigación tiene como objetivo demostrar que la confianza en el uso y acceso de herramientas financieras en hombres y mujeres determina la conducta financiera de los usuarios en México, y marca diferentes tendencias de acuerdo con el género. Se aplica una metodología con enfoque cuantitativo, no experimental y correlacional, proponiendo un modelo econométrico de elección binaria para hombres y mujeres. Se utiliza la Encuesta Nacional de Inclusión Financiera 2021 (ENIF) considerando 12.406 observaciones correspondientes a personas en un rango de edad de 18 a 70 años, para validar la hipótesis de que la confianza modifica el comportamiento de hombres y mujeres con respecto al uso y acceso de herramientas financieras. Los resultados evidencian que, a mayor nivel de desconfianza, la población mexicana presenta un comportamiento que obliga a disminuir la utilización de herramientas ofrecidas por instituciones financieras formales. Se concluye que la confianza de los consumidores ante estos recursos modifica la conducta de hombres y mujeres para su uso. This research aims to demonstrate that confidence in the use and access of financial tools in men and women determines the financial behavior of users in Mexico, marking different trends according to gender. A methodology with a quantitative, non-experimental, and correlational approach is applied, proposing an econometric model of binary choice for men and women. The 2021 National Survey of Financial Inclusion (NSFI; ENIF) is used, considering 12.406 observations corresponding to people in an age range of 18 to 70 years, to validate the hypothesis that trust modifies the behavior of men and women regarding the use and access of financial instruments. The results show that, at a higher level of distrust, the Mexican population presents a behavior that forces them to reduce the use of instruments offered by formal financial institutions. It is concluded that the confidence of consumers in these resources modifies the behavior of men and women for their use.

In the article, the author considered the critical aspects of state regulation of the financial market. Various interpretations of the category "state regulation of the financial market", which prevail among representatives of the scientific community, were singled out. The article highlights the factors that determine the need for state regulation of the financial market: it forms the basis for the implementation of a significant set of economic priorities for the country's development; ensuring the stability of the functioning of the financial system by mutual coordination and balancing the interests of all participants, etc. The author also identifies several shortcomings and problematic aspects of state supervision and control, state regulation in general. In particular, one of these problems was determined to be the ineffectiveness of the current ones, as well as the lack of comprehensive legislative acts regarding the methods of state regulation of the financial market. The article presents the main provisions of the legislative framework that regulates the process of providing financial services in Ukraine. The author also emphasised that in the process of state regulation of the financial market, the state can influence not only directly, that is, using direct methods, but also indirectly - using monetary, fiscal, and investment policy tools. The article emphasized that the bodies of state regulation of the financial market can be conditionally divided into two levels. In particular, it is the legislative level of power and the executive level of power. Having comprehensively analyzed the issue of state regulation of the financial market, it was emphasized that Ukraine lacks a single agreed policy on regulating each sector of the financial market. The article determined that the state regulation of the financial market must be considered through the prism of a set of certain methods, means and methods, with the help of which it is directly possible to carry out regulation and to some extent control all participants of the financial market in order to observe and ensure their interests., У статті автором розглянуто ключові аспекти державного регулювання фінансового ринку. Було виокремлено різні трактування категорії «державне регулювання фінансового ринку», які превалюють серед представників наукової спільноти. У статті виокремлені чинники, що обумовлюють необхідність державного регулювання фінансового ринку: він становить базу для реалізації значної сукупності економічних пріоритетів розвитку країни; забезпечення стабільності функціонування фінансової системи шляхом взаємоузгодження і врівноваження інтересів усіх учасників та ін. Автор також визначає ряд недоліків та проблемних аспектів, із якими повʼязують державний нагляд та контроль, державне регулювання в цілому. Зокрема, однією із таких проблем було визначено недієвість чинних, а також відсутність комплексних законодавчих актів щодо методів державного регулювання фінансового ринку. У статті наведено основні положення законодавчої бази, що регулює процес надання фінансових послуг в Україні. Автор також наголосив, що у процесі державного регулювання фінансового ринку, держава може впливати не лише безпосередньо, тобто за допомогою прямих методів, а й також опосередковано – за допомогою використання інструментів монетарної, фіскальної, інвестиційної політики. У статті було наголошено на тому, що органи державного регулювання фінансового ринку умовно можна поділити на два рівні. Зокрема, це законодавчий рівень влади та виконавчий рівень влади. Проаналізувавши комплексно питання державного регулювання фінансового ринку, було наголошено на тому, що в Україні відсутня єдина узгоджена політика щодо регулювання кожного сектору фінансового ринку. У статті було визначено, що державне регулювання фінансового ринку необхідно розглядати через призму сукупності певних методів, засобів і способів, за допомогою яких безпосередньо можливе здійснення врегулювання та певною мірою контролю усіх учасників фінансового ринку з метою дотримання і забезпечення їх інтересів.

Though consumers with vulnerabilities, such as visually impaired or blind and partially sighted people (BPSP), face several marketplace problems and challenges, existing literature provides limited guidance. The present study aims to examine the issues faced by BPSP in accessing financial services in Fiji. The study is grounded in the digital divide literature and reports that BPSP do face many hurdles in accessing financial services. We suggest that appropriate policies and industry initiatives could help mitigate the severe vulnerability faced by this cohort of the population in Fiji. We envisage that similar studies in other developing countries are required on an urgent basis to understand the international ramifications of the problem.

In modern conditions, which are dictated by the need for wide introduction of various online technologies in various spheres of human life against the background of the general trend towards digitalization of economic processes, the market of financial technologies has become significantly more active. On the one hand, the financial system attracts an increasing number of users, on the other hand, new innovative financial products are created and financial technologies are improved. All this leads to the need for a substantive study and scientific generalization of the processes taking place in the market of financial technologies, in order to understand and predict its impact on the activities of economic entities and the national economy as a whole., У сучасних умовах, що продиктовані необхідністю широкого запровадження в різні сфери життя людини різноманітних онлайн-технологій на тлі загальної тенденції до цифровізації економічних процесів, значно активізувався ринок фінансових технологій. З одного боку, фінансова система залучає дедалі більшу кількість користувачів, з іншого – створюються нові інноваційні фінансові продукти і вдосконалюються фінансові технології. Все це зумовлює необхідність предметного вивчення та наукового узагальнення процесів, що відбуваються на ринку фінансових технологій, із тим щоб розуміти і прогнозувати його вплив на діяльність економічних суб’єктів та національну економіку в цілому.

Examining the effect of hedge fund activism on gender diversity, we find that the number of female directors decreases after a firm is targeted by hedge fund activism. Using the employment history data from BoardEx, we find that activist hedge funds are more likely to appoint people with finance backgrounds to the boards of target firms. And the newly appointed finance-background directors are almost all male because of the lack of diversity in the finance industry. The lack of gender diversity of the hedge funds' networks also helps explain the impact of hedge fund activism on gender diversity on the board.

Регулювання ринків фінансових послуг покликане забезпечити насамперед стабільність фінансового ринку та запобігти новим кризовим явищам. Слід погодитися із тим, що дієва та ефективна система захисту прав споживачів фінансових послуг необхідна для розвитку економіки, адже завдяки цьому розширюється коло споживачів залучених у цю сферу. Таким чином, поведінка споживачів впливає на розвиток ринку, тому слід враховувати інтереси цієї групи при визначенні прав та обов’язків учасників ринку. The regulation of financial services markets is intended primarily to ensure the stability of the financial market and to prevent new crisis phenomena. It should be agreed that an effective and efficient system of protecting the rights of consumers of financial services is necessary for the development of the economy, because thanks to this, the range of consumers involved in this sphere is expanding. Thus, the behavior of consumers affects the development of the market, so the interests of this group should be taken into account when determining the rights and obligations of market participants.

Starptautiskais bizness un jaunuzņēmumu darbība Vadība, administrēšana un nekustamo īpašumu pārvaldība International Business and Start-up Entrepreneurship Management, Administration and Real Estate Management Liora Kovrigina. Nr.20-048717. Bakalaura darbs: “Fintech start-up ekosistēmu analītiskais salīdzinājums ASV un Ķīnā” – Rīga: Rīgas Stradiņa universitāte, 2023, 61 lappuses. Darba mērķis ir atbildēt uz šādu pētījuma jautājumu: Kur Fintech start-up ekosistēma ir labāka ASV vai Ķīnā? Lai sasniegtu darba mērķi, tika izstrādāti šādi aspekti: 1. Fintech start-up ekosistēmu atskaišu analīze; 2. Fintech start-up ekosistēmu salīdzinājums ASV un Ķīnā; 3. Noteica kultūras, valdības un tirgus atšķirības; 4. Izvērtētas priekšrocības un trūkumi Fintech start-up ekosistēmām Ķīnā un ASV; 5. Doti ieteikumi start-up īpašniekiem, kā veicināt Fintech start-upu paplašināšanos un panākumus Ķīnā un ASV. Bakalaura darbs sastāv no trim nodaļām. Pirmajā nodaļā tiek pētīti Fintech ekosistēmu start-up teorētiskie aspekti, kā arī mākslīgā intelekta nozīme Fintech. Otrajā nodaļā ir analizēta Fintech start-up ekosistēma ASV un Ķīnā. Trešajā nodaļā ir salīdzinātas Fintech start-up ekosistēmas ASV un Ķīnā. Pētījuma periods ir 2023. gada janvāris – 2023. gada maijs. Darbā ir 61 lappuses, 4 attēli, 3 tabulas, 69 avoti, 3 pielikumi. Liora Kovrigina. No. 20-048717. Bachelor Thesis: “Analytical Comparison of the Fintech Start-up Ecosystems in the United States and China” – Riga: Rīga Stradiņš University, 2023, 61 pages. The Thesis aims to answer on the following research question: Where Fintech start-up ecosystem is better in the United States or China? To achieve the goal of the work, the following aspects were developed: 1. Analysis of Fintech start-up ecosystems reports; 2. Compared the Fintech start-up ecosystems in the US and China; 3. Determined the cultural, governmental, and market variations; 4. Evaluated the advantages and disadvantages for Fintech start-ups ecosystems in China and the United States; 5. Given suggestions for start-up owners on how to encourage the expansion and success of Fintech start-ups in China and the United States. The bachelor's thesis consists of three chapters. The first chapter explores the theoretical aspects of Fintech ecosystem start-ups, as well as the importance of artificial intelligence in Fintech. The second chapter analyzes the ecosystem of Fintech start-ups in the United States and China. The third chapter compares the ecosystems of Fintech start-ups in the United States and China. The research period is January 2023 – May 2023. The work contains 61 pages, 4 figures, 3 tables, 69 sources, 3 appendixes.

В статье рассмотрены проблемы доступности финансовых услуг в России и проанализированы направления их повышения с использованием дистанционных каналов для пожилых людей, людей с инвалидностью и жителей труднодоступных мест. В графическом варианте представлены статистические данные о результатах реализации Приоритетных направлений повышения финансовой доступности в РФ. Предложены меры по совершенствованию доступности финансовых услуг как для населения так и для субъектов бизнеса., The article deals with the problems of accessibility of financial services in Russia and analyzes the ways to increase them using remote channels for the elderly, people with disabilities and residents of hard-to-reach places. The graphical version presents statistical data on the results of the implementation of the Priority Directions for Increasing Financial Inclusion in the Russian Federation. Measures are proposed to improve the availability of financial services for both the population and business entities., Экономика и предпринимательство, Выпуск 1 (150) 2023, Pages 1463-1467

Повномасштабна загарбницька війна Росії проти України внесла свої корективи у всі сфери суспільного життя. Але, попри складну ситуацію в умовах воєнного стану, українці продовжують отримувати зарплати, пенсії та інші соціальні виплати.Розуміючи нові реалії, Національним банком було реалізовано низку ініціатив з метою врегулювання проблемних питань та забезпечення дотримання фінансовими установами прав споживачів. Russia's full-scale war of aggression against Ukraine made adjustments to all spheres of social life. But, despite the difficult situation under martial law, Ukrainians continue to receive salaries, pensions and other social benefits. Understanding the new realities, the National Bank has implemented a number of initiatives aimed at resolving problematic issues and ensuring compliance by financial institutions with consumer rights.

Decentralized finance (DeFi) is a rapidly growing science that leverages distributed ledger technology (DLT) to offer peer-to-peer financial services. The DeFi ecosystem consists of decentralized applications that range from traditional financial services like decentralized stock exchanges (DEX) and lending platforms to novel services like flash loans. By eliminating the need for intermediaries and leveraging the public design of DLT networks, DeFi offers a more efficient, transparent, and accessible financial system. This results in lower transaction costs, higher control for users, and increased accessibility. The interoperable nature of DeFi applications enables the creation of new applications and financial services through the use of existing applications, which leads to a high degree of comparability and flexibility, allowing network participants to efficiently execute services. However, there are also barriers to the wider adoption of DeFi, such as the unsettled regulation in many countries, and the current user experience, which requires technical expertise and is less user-friendly than traditional centralized financial services. The strong adoption of DeFi by individuals and surveys indicating growing interest in DeFi by businesses will likely lead to these barriers being overcome as the user base grows. Despite the volatility of the crypto market, the trend of increasing adoption of DeFi applications is evident and reflected in an increasing number of users, projects, market capitalization of projects, and total value locked. Thus, DeFi is creating a decentralized financial system in parallel with the traditional centralized system, depriving it of a growing amount of resources.

This paper develops a structural model to evaluate contingent capital notes (CCN) of Basel III under alternative regulatory closure rules. Our dynamic model has a fixed default barrier and at specific discrete time points an additional higher default barrier depending on the closure threshold. The closed-form expressions of CCN and subordinated debts (SD) in the simple Merton model are presented to understand the convex relationship between the price and capital ratio trigger of CCN and to examine the effects of closure rules on CCN and SD through their derivatives’ properties. Our numerical results in the more general model show that a lax closure rule increases the price of SD and distorts the risk information of issuing banks, but not so for CCN. The policy implications are that CCN are more effective than SD in terms of enhancing market discipline because the price/yield information of CCN is more sensitive to the issuing bank’s risk than SD and will not be distorted by regulatory closure rules.

Прозорість, ефективність та стійкість банківської системи перевіряється в реальному часі, але потребує виваженого підходу до прийняття регуляторних рішень, насамперед рішення щодо проведення стрес-тестування банків у 2023 році. Стрес-тестування має виявити один важливий фактор: наскільки очікувані втрати покриваються капіталом банків. Проте в умовах війни, нестабільності енергопостачання, релокації бізнесу навряд власники будуть готові збільшувати капітал у випадку його дефіциту. Це питання потребує ретельного дослідження з урахуванням європейської та міжнародної практики і пропозицій МВФ стосовно прийняття рішення та інструментів, щодо відновлення капіталів і подальшої роботи з проблемними кредитами. The transparency, efficiency and stability of the banking system is checked in real time, but requires a balanced approach to regulatory decision-making, primarily decisions on stress testing of banks in 2023. Stress testing should reveal one important factor: the extent to which expected losses are covered by banks' capital. However, in conditions of war, instability of energy supply, relocation of business, it is unlikely that the owners will be ready to increase capital in case of its deficit. This issue requires careful research, taking into account European and international practice and the IMF's proposals regarding decision-making and tools, capital recovery and further work with problem loans.

В статье анализируются экосистемы Сбера и Тинькофф Банка, исследуются основные направления развития каждой из этих экосистем. Особое внимание в статье уделено анализу специфики деятельности каждой из этих экосистем, приводятся как основные факторы, которые являются драйверами роста, так и риски для экосистем Сбера и Тинькофф Банка., The article analyzes the ecosystems of Sber and Tinkoff Bank, analyzes the main directions of development of each of these ecosystems. Particular attention is paid in the article to the analysis of the specifics of the activities of each of these ecosystems, the main factors that are drivers of growth and risks for the ecosystems of Sber and Tinkoff Bank are given., Экономика и предпринимательство, Выпуск 4 (153) 2023, Pages 1132-1136

Статтю присвячено питанням розвитку цифрових технологій у фінансовому секторі. Досліджено, що розвиток фінансових інновацій спричинив руйнування традиційних бізнес-моделей та усталених моделей відносин зі споживачами. Цифрові технології, які є основою для надання фінансових послуг, стимулюють проникнення інновацій у фінансовий сектор. Зазначено, що війна сформувала нові парадигми розвитку. Наразі в Україні активізуються процеси цифрової трансформації, що зумовлює пошук нетрадиційних форм інноваційного розвитку та необхідність впровадження сучасних ІТ-систем і цифрових технологій в фінансовому секторі. Встановлено, що цифрова трансформація ринку фінансових послуг впливає на поведінку його учасників, поглиблюючи протиріччя між класичними фінансовими посередниками та технологічними компаніями. Розкрито сутність FinTech, виявлено основні ключові особливості трактування цього поняття, охарактеризовано основні інноваційні технології, які впливають на поведінку учасників ринку фінансових послуг. Розглянуто основні переваги розвитку цифрових сервісів для фінансової інфраструктури. Відмічено, що в умовах широкого використання цифрових технологій сфера фінансових послуг має бути максимально орієнтована на клієнта. Окрім того, щоб йти в ногу зі змінами в галузі, необхідно використовувати сучасні маркетингові технології. Визначено, що розвиток FinTech призведе, насамперед, до еволюційних змін у світовому фінансовому секторі. Традиційні фінансові установи адаптуються до нових умов і викликів, а учасники ринку приєднаються до глобальної фінансової екосистеми. FinTech здатний вирішити актуальні проблеми ринку фінансових послуг. Статья посвящена вопросам развития цифровых технологий в финансовом секторе. Исследовано, что развитие финансовых инноваций повлекло за собой разрушение традиционных бизнес-моделей и устоявшихся моделей отношений с потребителями. Цифровые технологии, служащие основой для предоставления финансовых услуг, стимулируют проникновение инноваций в финансовый сектор. Отмечено, что война сформировала новейшие парадигмы развития. Сейчас в Украине активизируются процессы цифровой трансформации, что приводит к поиску нетрадиционных форм инновационного развития и необходимости внедрения современных ИТ-систем и цифровых технологий в финансовом секторе. Установлено, что цифровая трансформация рынка финансовых услуг влияет на поведение участников, углубляя противоречия между классическими финансовыми посредниками и технологическими компаниями. Раскрыта сущность FinTech, выявлены основные ключевые особенности трактовки этого понятия, охарактеризованы основные инновационные технологии, влияющие на поведение участников рынка финансовых услуг. Рассмотрены основные преимущества развития цифровых сервисов финансовой инфраструктуры. Отмечено, что в условиях широкого использования цифровых технологий область финансовых услуг должна быть максимально ориентирована на клиента. Кроме того, чтобы идти в ногу с изменениями в отрасли необходимо использовать современные маркетинговые технологии. Определено, что развитие FinTech приведет прежде всего к эволюционным изменениям в мировом финансовом секторе. Традиционные финансовые учреждения адаптируются к новым условиям и вызовам, а участники рынка присоединятся к глобальной финансовой экосистеме. FinTech способен решить актуальные проблемы рынка финансовых услуг. The article is devoted to the development of digital technologies in the financial sector. It was noted that the development of financial innovations caused the destruction of traditional business models and established models of relations with consumers. Digital technologies, which are the basis for the provision of financial services, stimulate the penetration of innovations in the financial sector. It is noted that the war formed new paradigms of development. Currently, the processes of digital transformation are intensifying in Ukraine, which leads to the search for non-traditional forms of innovative development and the need to introduce modern IT systems and digital technologies in the financial sector. It is established that the digital transformation of the financial services market affects the behavior of its participants, deepening the contradiction between classic financial intermediaries and technology companies. The essence of FinTech is revealed, the main key features of the interpretation of this concept are revealed, the main innovative technologies that influence the behavior of participants in the financial services market are characterized. The main advantages of the development of digital services for financial infrastructure are considered. It was noted that in the conditions of widespread use of digital technologies, the sphere of financial services should be as client-oriented as possible. In addition to keeping pace with changes in the industry, it is necessary to use modern marketing technologies. It is noted that the development of FinTech will primarily lead to evolutionary changes in the global financial sector. Traditional financial institutions will adapt to new conditions and challenges, and market participants will join the global financial ecosystem. FinTech is able to solve the current problems of the financial services market.

Зважаючи на складну ситуацію в умовах війни в усіх сферах суспільного життя в тому числі і в економічній, Україна підлаштовується до таких реалій і тримає оборону на всіх фронтах. Зокрема, робота Національного банку також змінила свій вектор на воєнний, в тому числі і щодо реалізації функції захисту прав споживачів фінансових послуг. Considering the difficult situation in war conditions in all spheres of social life, including the economic one, Ukraine adapts to such realities and maintains defense on all fronts. In particular, work The National Bank also changed its vector to a military one, including regarding the implementation of the function of protecting the rights of consumers of financial services.

Banking sector openness may directly increase growth by improving the quality of financial services and increasing funds available, or indirectly by improving the efficiency of financial intermediaries, both of which may reduce the cost of financing, in turn, increase capital accumulation and economic growth. The objective of this paper is to empirically reinvestigate these direct and indirect links, using a more advanced econometric technique (generalised method-of-moments [GMM] dynamic panel estimators). An illustrative model is presented to link financial market development with investment. The empirical results support the presence of direct and indirect links, thus encouraging countries planning to open their financial markets.

В статье анализируются преимущества технологии блокчейна. Рассматривается применение данной технологии в финансовых сферах. Блокчейн может изменить большое количество процессов в финансовой сфере предприятий, в основном благодаря своему контролю и экономическим выгодам. В работе говорится, о том, что блокчейн является технологией, основанной на децентрализованной и публичной цепочке транзакций. Эта технология создает общую базу данных, доступную для ее участников, которые могут отслеживать каждую совершенную ими транзакцию. Применение блокчейна позволит предприятиям в финансовом секторе повысить уровень безопасности, а также усилить конфиденциальность., This article looks at the benefits of the blockchain scheme. It examines the use of blockchain in the financial sector. Blockchain can correct a large number of processes in enterprise finance, usually because of its control and economic benefits. The paper states that blockchain appears to be a technology based on a decentralised and public chain of transactions. The technology organizes a corporate information base that is intelligible to its participants, who can trace any transaction they make. The use of blockchain will allow businesses in the financial sector to increase security, and yes, increase secrecy. Ключевые слова: блокчейн, финансовый спектр, финансовые услуги, финансовые данные, банковские услуги., Экономика и предпринимательство, Выпуск 12 (149) 2023, Pages 1076-1080

This book provides a thorough and up-to-date account of what is state-of-the-art in the field of contracts relating to selected financial services such as insurance, loans and payments services. It also explores the resolution of disputes arising out of such contracts by ADR bodies in Europe, at national and EU level. In parallel with offering a comparative survey of the most recent legal developments in Europe, the book sheds light on the significance of financial ombudsman bodies for the efficient resolving of consumer disputes. Further, the book illustrates solutions and policies aimed at ensuring a high level of consumer financial education. Niniejsza książka zawiera wyczerpującą analizę współczesnych rozwiązań w dziedzinie umów dotyczących wybranych usług finansowych, takich jak ubezpieczenia, kredyty i usługi płatnicze. Ilustruje on również problematykę rozwiązywania sporów wynikających z takich umów przez organy ADR w Europie, na szczeblu krajowym i unijnym. Przedstawiając przegląd porównawczy najnowszych zmian prawnych w Europie, książka omawia doniosłość instytucji Ombudsmana w sprawach finansowych dla sprawnego rozwiązywania sporów konsumenckich. Ponadto książka ilustruje rozwiązania i strategie mające na celu zapewnienie wysokiego poziomu edukacji finansowej konsumentów.

В статье проанализирована проблематика обращений граждан с жалобами в банк, рассмотрен отечественный и зарубежный опыт, изучена специфика процесса обработки обращений граждан в банке. Результаты могут быть использованы в процессах совершенствования обработки обращений заявителей в банке., The article analyzes the problem of infection of citizens with complaints in the bank, considered domestic and foreign experience, studied the specifics of processing citizens' requests at the bank. The results of the use in the processes with the application of the processing of fruit declared in the bank., Экономика и предпринимательство, Выпуск 5 (154) 2023, Pages 1092-1095

Світова фінансова криза обумовила значні зміни існуючих механізмів регулювання ринків фінансових послуг по всьому світу. Зміни відбулися не тільки у державах-членах ЄС, але й реформування зазнала система фінансового регулювання на рівні Союзу. Дослідники відмічають, що необхідність реформування наднаціональних органів нагляду за ринками фінансових послуг у ЄС була обумовлена транскордонний характером надання фінансових послуг у ЄС, порівняно легким доступом на ринок та підвищеним ризиком діяльності таких установ для стабільності європейського фінансового ринку. The global financial crisis caused significant changes in the existing regulatory mechanisms of financial services markets around the world. Changes took place not only in EU member states, but the system of financial regulation at the level of the Union was also reformed. Researchers note that the need to reform supranational supervisory bodies for financial services markets in the EU was due to the cross-border nature of the provision of financial services in the EU, relatively easy access to the market, and the increased risk of the activities of such institutions for the stability of the European financial market.

Україна впродовж останніх років активно рухається у бік cashless-економіки, це означає зменшення використання громадянами готівки та застосування різноманітних способів безготівкової оплати. За даними Національного банку України навіть під час воєнного стану зросла частка операцій із платіжними картками. Проте використання платіжних карток часто супроводжується випадками шахрайських дій, що не тільки впливає на матеріальний стан ошуканих громадян, але й зменшує довіру до застосування безготівкових розрахунків в державі. In recent years, Ukraine has been actively moving towards a cashless economy, which means reducing the use of cash by citizens and using various methods of cashless payment. By according to the data of the National Bank of Ukraine, even during the martial law, the share of transactions with payment cards increased. However, the use of payment cards is often accompanied by cases of fraudulent actions, which not only affects the financial condition of defrauded citizens, but also reduces trust in the use of cashless payments in the state.

До збірника ввійшли тези доповідей та повідомлення викладачів, студентів, учених та аспірантів ЗВО і наукових установ, які брали участь у засіданні науково- практичного круглого столу «Правове регулювання фінансових послуг: національний, європейський, глобалізаційний виміри», присвяченого актуальним питанням правового регулювання ринків фінансових послуг в Україні та Європейському Союзі й проведено- го в рамках реалізації освітнього проєкту «619998-EPP-1-2020-1-UA-EPPJMO-MODULE Європейські стандарти захисту прав споживачів фінансових послуг», що реалізується за підтримки Виконавчого агентства ЄС з освіти та культури (напрям Модуль Жана Моне програми Erasmus+).

Формування сучасного інтегрованого ринку цінних паперів ЄС виступає однією з пріоритетних завдань Співтовариства. Це питання є досить важливим з огляду на те, що механізм правового регулювання у цій галузі іще знаходиться у процесі формування та не розвинувся до самостійної галузі права як, наприклад, у США або Об’єднаному Королівстві. Розвиток відносин у сфері фінансових послуг та формування належного законодавства, призвело до відповідного створення і системи інституцій ЄС, які отримали назву Європейських фінансових регуляторів (ESA). Formation of a modern integrated EU securities market is one of the Community's priority tasks. This issue is quite important given the fact that the mechanism of legal regulation in this field is still in the process of formation and has not developed into an independent field of law as, for example, in the USA or the United Kingdom. The development of relations in the field of financial services and the formation of appropriate legislation led to the corresponding creation of the system of EU institutions, which were named the European Financial Regulators (ESA).

The paper brings brief description of the financial services customer protection model and its evolution in Poland. The efficiency of this three-fold model, where the responsibilities are distributed to the 3 agencies: Financial Supervision Authority (KNF), Financial Ombudsman (Rzecznik Finansowy), Competition and Customer Protection Office (UOKiK) is discussed. The author discusses the project of merging the institution of the Financial Ombudsman with UOKiK and puts forward the thesis that an idea more relevant to the current needs of protecting financial services customers in Poland would be to maintain the institution of the Financial Ombudsman and transfer some competences of the President of UOKiK to the Financial Ombudsman. Finally the author presents his recommendations for the improvement of the model with a call for the strengthening of the institution of Financial Ombudsman in Poland.

We introduce a new mobile money interface that permits Sri Lankans to deposit mobile airtime balances directly into a formal bank account. Randomizing access and prices, we find a small increase in savings deposits with the partner institution and formal banks more generally, but no change in overall savings. When the deposit transaction costs are completely removed, only 26% use the mobile deposit service and only 7% use it frequently. Our results imply that deposit transaction costs are not a significant barrier to increasing savings, limiting the potential gains of mobile-linked savings products for financial inclusion.

This study is in line with the United Nations Framework Convention on Climate Change (UNFCCC) to evaluate the post-Paris Agreement (COP21) through technological innovations and carbon pricing in a panel of 39 R&D economies from 1995 to 2018. The results show that sustainable technological innovations and smart applications of insurance and financial services help decrease GHG emissions in the lowest to highest quantile distribution. In contrast, air transportation freight, air freight pricing, and foreign direct investment (FDI) inflows escalate GHG emissions due to unsustainable logistics activities, inefficient freight pricing, and dirty production, which confirmed the ‘pollution haven’ hypothesis across countries. The impact of air freight revenues has a differential impact on GHG emissions in the different quantiles’ distribution, as in the lowest quantiles (i.e., τ0.2 to τ0.4), air freight revenues increase GHG, whereas, at the highest quantiles’ distribution (i.e., τ0.9) emissions decrease. Thus, the viability of air freight revenues is further assessed using Panel Granger causality and panel innovation matrix. The results show the bidirectional causality between i) air freight pricing and GHG emissions, ii) air transportation freight (and freight pricing, freight revenues, FDI) and technology innovations, iii) FDI and air freight revenues, while there is a unidirectional causality running from i) insurance and financial services to GHG emissions, ii) GHG emissions to technological innovations and FDI inflows, and iii) air transportation freight to FDI inflows.

A digital finance service breakthrough is essential to get better financialassistance to optimize financial inclusion, and the effectivenessrequires technological support in banking financial services. Thestudy investigates the effect of digital finance on financial inclusionin Indonesians’ banking industry. We develop the new measurement,namely average digital finance (ADF), and use loan transactionsto proxy financial inclusion. The samples are six banking during2013-2019, and we use panel data regression to test the hypothesisand do a robustness check. Our result confirms that ADF positivelyimpacts financial inclusion and finds evidence of bank size’s role indigital finance and financial inclusion. It implicates banks’ strategyfor optimizing financial inclusion based on its characteristics suchas age, profitability, and efficiency. It contributes to digital finance’sgovernment policy for using explored internet banking and mobilebanking stimulatingly.Widarwati, E., Solihin, A., & Nurmalasari, (2022). Digital Finance For Improving Financial Inclusion Indonesians’ Banking. Signifikan: Jurnal Ilmu Ekonomi, 11(1), 17-30. https://doi.org/10.15408/sjie.v11i1.17884.

Bank of recent year plays a significant role in the development of the nation. The bank offers a few things that are directly dependent on any nation's general economic and financial condition. Banking efficiency leads to the business, growth in the industry, economic growth, and support for the common man with savings, improving financial security. Bank Loan has been one of the fastest-growing financial services banks in recent years. However, with the increasing number of bank loan users, banks face an ever-increasing rate of bank loan decline. This program is offered primarily to a person or company of higher value than another. Under this scheme, a small amount can be provided as a cash transfer or electronic transfer to the debtor when they can be in demand. Few of them have not returned a set amount in time, so sometimes they do not. This situation creates a problem for the bank. Then with the help of historical data, the need to predict bank loan error can be determined. As such, machine learning may offer options for addressing the current issue and handling credit risk. This analysis has the function of forecasting the inability to pay the bank loan. The study found more than 10 million Bank of Taiwan records. Analysis of the logistic regression hits the relation between the class variable and the set of independent variables. The primary analysis produces exploratory views of data correctly. Further, this paper used ML algorithms to get predictions with accuracy to detect the default users based on transactional data.

Payments banks came into existence in India in 2015 when the Reserve Bank of India awarded licenses to eleven applicants to set up these banks specifically to further financial inclusion by providing small savings accounts and facilitating payments and remittances to the financially excluded population. As of March 2020, only six of these were operative and not very successful, both from the profitability and customer growth perspectives. This article seeks to understand the reason for payments banks not taking off as envisaged. Attributing this primarily to low adoption of payments banks by the financially excluded customer segments, this study uses a grounded theory approach based on data collected from interviews of target customer groups and of managers at some payments banks. The primary factors contributing to low adoption by the customer segments studied here, namely migrant labor and small vendors, have been identified as lack of awareness, lack of trust and lack of perceived need for their products/services. These factors arise due to inconsistencies between the business model design and the nature of the target audience. The article further discusses managerial and policy implications of these conclusions.

Proponents of the agile approach to project management describe this new way of working as more efficient, more productive, liberating, and one in which the team has greater control. We examine the experience of implementing agile practices within project management through nine agile teams in the financial services sector. Using grounded theory analysis of data from semi-structured interviews, several thematic categories emerge including accountability, team-based perceptions of their place in the organization, human factors in agile teams, and technical factors with the implementation of agile practice. As a result of these findings, we propose a framework describing how IT project teams experience accountability arrangements when transitioning into agile practices. The accountability experience is a result of the fit between the teams’ perception of how they are viewed as agile teams in their organizations, their experience of technical practices of agile implementation, and their experience of interaction and exchanges in their teams. We conclude with a call towards recognizing the dissonance between different expectations of accountability and a call for further empirical research into this phenomenon.