Pub Date : 2019-09-13DOI: 10.4018/978-1-7998-0039-2.ch002
Maizaitulaidawati Md Husin, Razali Haron, Shahab Aziz
The purpose of this chapter is to examine the factors that influence small and medium-sized enterprises' (SMEs) intentions to use the investment account platform (IAP) based on technology acceptance model (TAM). The central hypothesis for this chapter was that SMEs' intentions to use IAP were a result of perceived usefulness and perceived ease of use. This chapter also suggested that perceived ease of use and intention was mediated by perceived usefulness of the IAP. Using primary data collection method, 163 questionnaires were collected from SMEs in Kuala Lumpur, Malaysia using the purposive sampling technique. The data were analysed using SPSS and SmartPLS. The chapter found that perceived ease of use had significant influences on SMEs intention to use the IAP while perceived ease of use significantly affected perceived usefulness and the relationship between perceived ease of use and intention was mediated by perceived usefulness of the IAP. The results of this chapter suggested strategies to promote the platform as a fund seeking platform for SMEs.
{"title":"Adoption of Financial Technology in Islamic Crowd-Funding","authors":"Maizaitulaidawati Md Husin, Razali Haron, Shahab Aziz","doi":"10.4018/978-1-7998-0039-2.ch002","DOIUrl":"https://doi.org/10.4018/978-1-7998-0039-2.ch002","url":null,"abstract":"The purpose of this chapter is to examine the factors that influence small and medium-sized enterprises' (SMEs) intentions to use the investment account platform (IAP) based on technology acceptance model (TAM). The central hypothesis for this chapter was that SMEs' intentions to use IAP were a result of perceived usefulness and perceived ease of use. This chapter also suggested that perceived ease of use and intention was mediated by perceived usefulness of the IAP. Using primary data collection method, 163 questionnaires were collected from SMEs in Kuala Lumpur, Malaysia using the purposive sampling technique. The data were analysed using SPSS and SmartPLS. The chapter found that perceived ease of use had significant influences on SMEs intention to use the IAP while perceived ease of use significantly affected perceived usefulness and the relationship between perceived ease of use and intention was mediated by perceived usefulness of the IAP. The results of this chapter suggested strategies to promote the platform as a fund seeking platform for SMEs.","PeriodicalId":202263,"journal":{"name":"Research Anthology on Concepts, Applications, and Challenges of FinTech","volume":"14 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2019-09-13","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"115437320","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Pub Date : 1900-01-01DOI: 10.4018/978-1-7998-2398-8.ch009
Rehema Kagendo Kiarie
This chapter addresses the ethical issues relating to mobile money transfer in Kenya. The mobile money transfer industry has grown exponentially in Kenya. Both the formal and informal sectors have embraced the use of mobile money transfer as a convenient means of transacting. With a plethora of advantages, most notably financial inclusion of the informal sector, mobile money transfer also has its ethical demerits. Despite the ethical challenges being experienced, the use of regulation coupled with education of users on ethical issues and security of mobile money transactions will assist in reducing unethical conduct.
{"title":"Ethics in Mobile Banking","authors":"Rehema Kagendo Kiarie","doi":"10.4018/978-1-7998-2398-8.ch009","DOIUrl":"https://doi.org/10.4018/978-1-7998-2398-8.ch009","url":null,"abstract":"This chapter addresses the ethical issues relating to mobile money transfer in Kenya. The mobile money transfer industry has grown exponentially in Kenya. Both the formal and informal sectors have embraced the use of mobile money transfer as a convenient means of transacting. With a plethora of advantages, most notably financial inclusion of the informal sector, mobile money transfer also has its ethical demerits. Despite the ethical challenges being experienced, the use of regulation coupled with education of users on ethical issues and security of mobile money transactions will assist in reducing unethical conduct.","PeriodicalId":202263,"journal":{"name":"Research Anthology on Concepts, Applications, and Challenges of FinTech","volume":"144 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"1900-01-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"124221848","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Pub Date : 1900-01-01DOI: 10.4018/978-1-5225-7805-5.CH002
S. Marrara, Mirjana Pejić-Bach, S. Seljan, Amir Topalovic
In this chapter, a study about how Italian SMEs understand and use FinTech technologies is presented. The study focuses on FinTech-aided banking services, in particular, due to the fact that these are, at present, the most widely used FinTech technologies available in Italy. The study shows how, despite FinTech entering Italy only in recently, the Italian SMEs market is very active and fruitful for digital companies. In the last years, a continuous growth of investment has seen the development of FinTech technologies in multiple areas, such as mobile networks, big data, trust management, mobile embedded systems, cloud computing, image processing, and data analytic techniques.
{"title":"FinTech and SMEs","authors":"S. Marrara, Mirjana Pejić-Bach, S. Seljan, Amir Topalovic","doi":"10.4018/978-1-5225-7805-5.CH002","DOIUrl":"https://doi.org/10.4018/978-1-5225-7805-5.CH002","url":null,"abstract":"In this chapter, a study about how Italian SMEs understand and use FinTech technologies is presented. The study focuses on FinTech-aided banking services, in particular, due to the fact that these are, at present, the most widely used FinTech technologies available in Italy. The study shows how, despite FinTech entering Italy only in recently, the Italian SMEs market is very active and fruitful for digital companies. In the last years, a continuous growth of investment has seen the development of FinTech technologies in multiple areas, such as mobile networks, big data, trust management, mobile embedded systems, cloud computing, image processing, and data analytic techniques.","PeriodicalId":202263,"journal":{"name":"Research Anthology on Concepts, Applications, and Challenges of FinTech","volume":"43 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"1900-01-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"123194825","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Pub Date : 1900-01-01DOI: 10.4018/978-1-7998-1786-4.ch005
Jomjai Sampet, Chuleeporn Changchit, Ravi Lonkani
Recently, mobile banking has gained significant importance, and the growth of the field is accelerating. Due to a rapid increase in smart phone users, banks have shifted the competitive landscape from physical banking branches to internet banking and mobile banking services. However, many customers remain reluctant to use this banking channel. It is crucial for banks to meet customers' need and understand which factors play an important role in encouraging or discouraging them from using mobile banking. Culture can also play an important role on these factors. This study compares the mobile banking perceptions between the consumers in the U.S. and in Thailand and reveal various factors that influence mobile banking adoption for these two nationalities. The findings suggest factors that banks should consider when implementing mobile banking services, thus allowing them to design the services that meet the needs of their customers.
{"title":"A Comparative Study of Mobile Banking Adoption","authors":"Jomjai Sampet, Chuleeporn Changchit, Ravi Lonkani","doi":"10.4018/978-1-7998-1786-4.ch005","DOIUrl":"https://doi.org/10.4018/978-1-7998-1786-4.ch005","url":null,"abstract":"Recently, mobile banking has gained significant importance, and the growth of the field is accelerating. Due to a rapid increase in smart phone users, banks have shifted the competitive landscape from physical banking branches to internet banking and mobile banking services. However, many customers remain reluctant to use this banking channel. It is crucial for banks to meet customers' need and understand which factors play an important role in encouraging or discouraging them from using mobile banking. Culture can also play an important role on these factors. This study compares the mobile banking perceptions between the consumers in the U.S. and in Thailand and reveal various factors that influence mobile banking adoption for these two nationalities. The findings suggest factors that banks should consider when implementing mobile banking services, thus allowing them to design the services that meet the needs of their customers.","PeriodicalId":202263,"journal":{"name":"Research Anthology on Concepts, Applications, and Challenges of FinTech","volume":"10 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"1900-01-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"121162369","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Pub Date : 1900-01-01DOI: 10.4018/978-1-5225-9183-2.CH004
Mahani Hamdan, M. Anshari
Financial technology (FinTech) is not one to be ignored under any circumstances. It is not only growing as a concept but a phenomenon that has been manifested in non-financial sectors using innovative technology to bring financial services straight to the customers. The creation and practical applications of FinTech supported by government regulations and financial policies, high mobile adoption, rising rates of internet penetration, and increasingly literate and millennial generation, strongly indicates that the various scopes of FinTech in ASEAN are very promising in supporting economic growth and financial inclusion. This chapter will provide an overview of FinTech and examine the development of FinTech initiatives to shed light on some challenges and solutions facing the ASEAN's financial landscape today and in the future.
{"title":"Paving the Way for the Development of FinTech Initiatives in ASEAN","authors":"Mahani Hamdan, M. Anshari","doi":"10.4018/978-1-5225-9183-2.CH004","DOIUrl":"https://doi.org/10.4018/978-1-5225-9183-2.CH004","url":null,"abstract":"Financial technology (FinTech) is not one to be ignored under any circumstances. It is not only growing as a concept but a phenomenon that has been manifested in non-financial sectors using innovative technology to bring financial services straight to the customers. The creation and practical applications of FinTech supported by government regulations and financial policies, high mobile adoption, rising rates of internet penetration, and increasingly literate and millennial generation, strongly indicates that the various scopes of FinTech in ASEAN are very promising in supporting economic growth and financial inclusion. This chapter will provide an overview of FinTech and examine the development of FinTech initiatives to shed light on some challenges and solutions facing the ASEAN's financial landscape today and in the future.","PeriodicalId":202263,"journal":{"name":"Research Anthology on Concepts, Applications, and Challenges of FinTech","volume":"43 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"1900-01-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"127667811","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Pub Date : 1900-01-01DOI: 10.4018/978-1-5225-7805-5.CH005
M. Hussain, M. Nadeem, Sanaullah Iqbal, Sobia Mehrban, Syeda Nisar Fatima, O. Hakeem, Ghulam Mustafa
Financial technology (FinTech) has dramatically changed the way of banking and financial services. Computer programs and other technology which used to provide and enable financial services is named as FinTech. However, these services face several security and privacy issues while providing financial services to the users. These services and applications must be secured to enhance the acceptance and usability of these services among the users. The main aim of this research is to provide a policy framework to ensure the security and privacy of user information in financial technology, since FinTech applications and services carry quite sensitive data of its users. This policy framework provides a comprehensive set of policies to secure FinTech services. These policies must be implemented in each organization providing FinTech services.
{"title":"Security and Privacy in FinTech","authors":"M. Hussain, M. Nadeem, Sanaullah Iqbal, Sobia Mehrban, Syeda Nisar Fatima, O. Hakeem, Ghulam Mustafa","doi":"10.4018/978-1-5225-7805-5.CH005","DOIUrl":"https://doi.org/10.4018/978-1-5225-7805-5.CH005","url":null,"abstract":"Financial technology (FinTech) has dramatically changed the way of banking and financial services. Computer programs and other technology which used to provide and enable financial services is named as FinTech. However, these services face several security and privacy issues while providing financial services to the users. These services and applications must be secured to enhance the acceptance and usability of these services among the users. The main aim of this research is to provide a policy framework to ensure the security and privacy of user information in financial technology, since FinTech applications and services carry quite sensitive data of its users. This policy framework provides a comprehensive set of policies to secure FinTech services. These policies must be implemented in each organization providing FinTech services.","PeriodicalId":202263,"journal":{"name":"Research Anthology on Concepts, Applications, and Challenges of FinTech","volume":"115 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"1900-01-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"126275507","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Pub Date : 1900-01-01DOI: 10.4018/978-1-7998-0039-2.ch008
S. Kunhibava, Aishath Muneeza
The Malaysian finance industry is governed by Bank Negara Malaysia (BNM) and Securities Commission Malaysia (SC). BNM governs the banking and insurance industries and the SC regulates and develops its capital market. Both authorities have issued regulations to cater for the proliferation of fintech businesses. For example, BNM issued regulations on digital currency exchanges, electronic-know your customer requirements for fintech companies facilitating remittances, and a regulatory sandbox framework for fintech businesses. Similarly, the SC issued a digital investment management framework, another to facilitate equity crowdfunding, peer-to-peer lending, and digital asset exchanges, and the instrumental digital currency and digital token order. All were issued to encourage innovation in the industry, manage disruption, mitigate risks, and ensure consumer protection. This chapter will explain the steps taken by Malaysia's financial regulatory authorities in dealing with fintech-based companies, critically review the regulations, and recommend some ways forward.
{"title":"Regulating FinTech Businesses","authors":"S. Kunhibava, Aishath Muneeza","doi":"10.4018/978-1-7998-0039-2.ch008","DOIUrl":"https://doi.org/10.4018/978-1-7998-0039-2.ch008","url":null,"abstract":"The Malaysian finance industry is governed by Bank Negara Malaysia (BNM) and Securities Commission Malaysia (SC). BNM governs the banking and insurance industries and the SC regulates and develops its capital market. Both authorities have issued regulations to cater for the proliferation of fintech businesses. For example, BNM issued regulations on digital currency exchanges, electronic-know your customer requirements for fintech companies facilitating remittances, and a regulatory sandbox framework for fintech businesses. Similarly, the SC issued a digital investment management framework, another to facilitate equity crowdfunding, peer-to-peer lending, and digital asset exchanges, and the instrumental digital currency and digital token order. All were issued to encourage innovation in the industry, manage disruption, mitigate risks, and ensure consumer protection. This chapter will explain the steps taken by Malaysia's financial regulatory authorities in dealing with fintech-based companies, critically review the regulations, and recommend some ways forward.","PeriodicalId":202263,"journal":{"name":"Research Anthology on Concepts, Applications, and Challenges of FinTech","volume":"34 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"1900-01-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"124553528","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Pub Date : 1900-01-01DOI: 10.4018/978-1-7998-4552-2.ch003
J. Campino, A. Brochado, Á. Rosa
Financial technology companies (fintechs) have gained tremendous importance in the last decade and particularly in the last four years. They have contributed with disruptive technological solutions and provided not only complementary but also substitute products to the traditional banking sector. New incumbents have been challenging banks already established and forced them to innovate in order to remain competitive. Indeed, banks have a heavy burden of slow processes, costly business models, and few innovative solutions. The authors collected 100 articles from Scopus related with the fintech and bank topics. This study adopted a hybrid design comprising a systematic qualitative review methods and narrative, supplemented by semantic network analysis. Based on the results of the systematic literature review, the authors explored the impacts that fintechs have had on traditional banking sector.
{"title":"Digital Business Transformation in the Banking Sector","authors":"J. Campino, A. Brochado, Á. Rosa","doi":"10.4018/978-1-7998-4552-2.ch003","DOIUrl":"https://doi.org/10.4018/978-1-7998-4552-2.ch003","url":null,"abstract":"Financial technology companies (fintechs) have gained tremendous importance in the last decade and particularly in the last four years. They have contributed with disruptive technological solutions and provided not only complementary but also substitute products to the traditional banking sector. New incumbents have been challenging banks already established and forced them to innovate in order to remain competitive. Indeed, banks have a heavy burden of slow processes, costly business models, and few innovative solutions. The authors collected 100 articles from Scopus related with the fintech and bank topics. This study adopted a hybrid design comprising a systematic qualitative review methods and narrative, supplemented by semantic network analysis. Based on the results of the systematic literature review, the authors explored the impacts that fintechs have had on traditional banking sector.","PeriodicalId":202263,"journal":{"name":"Research Anthology on Concepts, Applications, and Challenges of FinTech","volume":"49 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"1900-01-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"125936201","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Pub Date : 1900-01-01DOI: 10.4018/978-1-5225-9715-5.ch060
F. Rossi, Rumenigue Hohemberger, M. P. Konzen, Daniel Chaves Temp
The online banking industry has overgrown in recent years and will continue to grow as economic organizations remain to encourage customers to handle online banking transactions such as money transfers, access to account information, or payment of monthly bills. During this period, internet criminals and fraudsters attempting to steal personal customer information hijacked online banking. This article proposes reviewing the ways by which fraudulent activities are performed and what banks are doing to prevent such activities, as well as the new security measures that banks are using to increase customer confidence. Therefore, the authors present the threats, challenges to address such threats, some trends, and future landscapes regarding online banking security.
{"title":"E-Banking Security","authors":"F. Rossi, Rumenigue Hohemberger, M. P. Konzen, Daniel Chaves Temp","doi":"10.4018/978-1-5225-9715-5.ch060","DOIUrl":"https://doi.org/10.4018/978-1-5225-9715-5.ch060","url":null,"abstract":"The online banking industry has overgrown in recent years and will continue to grow as economic organizations remain to encourage customers to handle online banking transactions such as money transfers, access to account information, or payment of monthly bills. During this period, internet criminals and fraudsters attempting to steal personal customer information hijacked online banking. This article proposes reviewing the ways by which fraudulent activities are performed and what banks are doing to prevent such activities, as well as the new security measures that banks are using to increase customer confidence. Therefore, the authors present the threats, challenges to address such threats, some trends, and future landscapes regarding online banking security.","PeriodicalId":202263,"journal":{"name":"Research Anthology on Concepts, Applications, and Challenges of FinTech","volume":"405 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"1900-01-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"127115059","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Pub Date : 1900-01-01DOI: 10.4018/978-1-7998-0131-3.ch021
Muhammad Waleed Butt, U. Butt
The digitalisation of global financial technology and marketing is central for the success of many banking organisations across the globe. Digital disruption is a change that occurs when new emerging digital technologies and business models affect the value proposition of existing goods and services for low end demanding customers or for new market customers. Digital banking or online or virtual banking is leading to the digitization of all the traditional banking activities, products, process, or services. It is needless to state that mere adaptation of digital media to comply with trends does not guarantee success. The digital trends in the banking industry has seen banks focusing on digitalization core processes, increasing awareness, financial inclusions, and undertaking sustainable practices. FinTech (i.e., financial technology) is competing with traditional financial methods in the delivery of financial services and reaching the unbanked segment of society, particularly in developing countries. There is a strong need to understand drivers and trends in the FinTech industry.
{"title":"Digitalisation of the Global FinTech Industry","authors":"Muhammad Waleed Butt, U. Butt","doi":"10.4018/978-1-7998-0131-3.ch021","DOIUrl":"https://doi.org/10.4018/978-1-7998-0131-3.ch021","url":null,"abstract":"The digitalisation of global financial technology and marketing is central for the success of many banking organisations across the globe. Digital disruption is a change that occurs when new emerging digital technologies and business models affect the value proposition of existing goods and services for low end demanding customers or for new market customers. Digital banking or online or virtual banking is leading to the digitization of all the traditional banking activities, products, process, or services. It is needless to state that mere adaptation of digital media to comply with trends does not guarantee success. The digital trends in the banking industry has seen banks focusing on digitalization core processes, increasing awareness, financial inclusions, and undertaking sustainable practices. FinTech (i.e., financial technology) is competing with traditional financial methods in the delivery of financial services and reaching the unbanked segment of society, particularly in developing countries. There is a strong need to understand drivers and trends in the FinTech industry.","PeriodicalId":202263,"journal":{"name":"Research Anthology on Concepts, Applications, and Challenges of FinTech","volume":"289 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"1900-01-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"127637961","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
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