scholarly journals Digital adaptation of the Russian payment services market to pandemic shocks

2021 ◽  
Vol 94 ◽  
pp. 01012
Author(s):  
Olga Korobeynikova ◽  
Dmitry Korobeynikov ◽  
Tatiana Dugina ◽  
Zinaida Kozenko ◽  
Svetlana Shaldokhina
Keyword(s):  
Sustainable Development ◽  
Mobile Applications ◽  
Financial Services ◽  
Positive Impact ◽  
Ecosystem Approach ◽  
Structural Transformations ◽  
Financial Inclusion ◽  
Online Transactions ◽  
Settlement Services ◽  
Payment Services

The purpose of the article is to identify and substantiate the features of adaptation of the Russian payment services market to pandemic shocks, taking into account digitalization trends. The following regularities were revealed: increasing rates of digitalization; structural transformations of the market; blurring the lines between banking products and fintech services amid heightened competition; the emergence of payment services for retailers; growing demand for e-commerce, online transactions and contactless payment for services; increasing financial inclusion of traditional and innovative retail financial services; formation of an ecosystem approach, etc. It is concluded that the ongoing changes have a positive impact on the transformation of the market supply of payment services. In the context of the COVID-19 pandemic, payment intermediaries are using tactics of digital settlement services and reducing dependence on loan products; promoting an initial positive customer experience in remote channels, mobile applications; focusing on sustainable development of the client base.

scholarly journals Effects of International and Internal Remittances on Financial Inclusion in Ghana

2020 ◽  
Vol 4 (3) ◽  
pp. 109-123
Author(s):  
John Gartchie Gatsi
Keyword(s):  
Financial Institutions ◽  
Financial Services ◽  
Financial Integration ◽  
Positive Impact ◽  
Financial Inclusion ◽  
International Money ◽  
International Remittances ◽  
Analytical Review ◽  
Money Transfers ◽  
The Relationship

This article examines the relationship between remittances and financial inclusion in Ghana. The data for the study was extracted from the results of an analytical review of the living standards survey indicators in Ghana. The methodological tools of the study are represented by a regression equation based on the use of the Force Entry Method to test the functioning of variables in the model. The study empirically confirms and theoretically proves that domestic remittances have a positive and significant impact on access to financial services, while international remittances affect the likelihood of opening a bank account, but do not have any significant impact on applying for a loan and lending to remittance households. It is substantiated that domestic and international money transfers have a significant positive impact on the opening of bank accounts, even when forging collateral. Based on the results of calculations, the paper substantiates the conclusion that remittances contribute to increasing the availability of financial services in Ghana. It was noted that domestic remittances have a greater potential to improve financial inclusion in Ghana than international remittances. The paper emphasizes that the provision of collateral is an important lever for lending to households. Remittances will have very little impact on financial inclusion when financial institutions require collateral to facilitate the application and grant. According to the results of the study, the following recommendation were provideds: development of a strategy to improve domestic remittances to increase indicators of financial inclusion and economic development; improving the conditions for remittances, especially domestic remittances, in order to ensure their flexibility and deepen financial integration; use of domestic remittances as collateral for household loans. Keywords: collateral, financial inclusion, financial institutions, Ghana, remittances, loan application, migration.

Artificial Intelligence and SHGs

2020 ◽  
pp. 291-303
Author(s):  
Vinay Kandpal ◽  
Osamah Ibrahim Khalaf
Keyword(s):  
Artificial Intelligence ◽  
Sustainable Development ◽  
Big Data ◽  
Financial Services ◽  
Efficient Solution ◽  
Cost Effective ◽  
Financial Inclusion ◽  
Women Empowerment ◽  
Loan Repayment ◽  
Brick And Mortar

For inclusive growth and sustainable development of SHG and women empowerment, there is a need to provide an environment to access quality services from financial and non-financial agencies. While banks cannot reach all people through a ‘brick and mortar' model, new and advanced banking technology has enabled financial inclusion through branchless banking. By using artificial intelligence in banking, banks have a cost-effective and efficient solution to provide access to services to the financially excluded. Digital technology improves the accessibility and affordability of financial services for the previously unbanked or underbanked individuals and MSMEs. A big data-driven model can also be helpful for psychometric evaluations. Several psychometric tools help evaluate the applicant's answers which aid to capture information that can help to predict loan repayment behavior, comprising applicants' beliefs, performance, attitudes, and integrity.

scholarly journals Inclusión financiera femenina en México: una herramienta para su empoderamiento = Financial Inclusion for Women in Mexico: a Tool for their Empowerement

2019 ◽  
Vol 4 (3) ◽  
pp. 158 ◽  
Author(s):  
Adolfo Federico Herrera García
Keyword(s):  
Gender Equity ◽  
Gender Gap ◽  
Financial Services ◽  
Credit Card ◽  
Positive Impact ◽  
Explanatory Power ◽  
Hierarchical Cluster ◽  
Financial Inclusion ◽  
Adult Women ◽  
Las Mujeres

Resumen. El artículo analiza la inclusión financiera de la mujer y su relación con el em­poderamiento en la actual sociedad mexicana ya que cifras oficiales muestran que el 39% de las mujeres adultas tienen una cuenta bancaria y solo el 25% tienen una tarjeta de crédito, lo que enmarca una gran dependencia de las mujeres con los hombres en materia financiera. Ac­tualmente, no existe una teoría establecida sobre la inclusión financiera de la mujer, aunque si se ha puesto en relevancia la importancia de fomentarla como herramienta para lograr el em­poderamiento de grupos excluidos. Se muestra el impacto positivo de disminuir la exclusión financiera femenina en nuestro país, para después determinar a través del análisis de compo­nentes principales las variables que tienen mayor poder explicativo en este fenómeno; además se utiliza el análisis de clúster jerárquico, que permite establecer el nivel que tiene cada estado de la República en cuanto al acceso y uso de servicios financieros en instituciones tradicion­ales y microfinancieras. Dado esto, se puede decir que existe una brecha de género importante y que se necesitan implementar medidas que aumenten la participación de la mujer en el sec­tor financiero para mejorar sus condiciones socioeconómicas y su calidad de vida, la cual le permita crecer en los diferentes entornos de la vida cotidiana.Palabras clave: inclusión financiera, empoderamiento, equidad de género, acceso, mi­crofinanzas. Abstract. The article analyzes the financial inclusion of women and their relationship with empowerment in the current Mexican society as official figures show that 39% of adult women have a bank account and only 25% have a credit card, which It frames a great depen­dence of women with men in financial matters. Currently, there is no established theory on the financial inclusion of women, although the importance of promoting it as a tool to achieve the empowerment of excluded groups has been highlighted. It shows the positive impact of decreasing female financial exclusion in our country, to then determine through the analysis of major components the variables that have greater explanatory power in this phenomenon; In addition, a hierarchical cluster analysis is used to establish the level of each state of the Repu­blic in terms of access and use of financial services in traditional and microfinance institutions.Given this, it can be said that there is an important gender gap and that measures must be im­plemented to increase the participation of women in the financial sector in order to improve their socioeconomic conditions and their quality of life, which allows them to grow in different environments of everyday life.Keywords: financial inclusion, empowerment, gender equity, access, microfinance.

Customer perception of adoption and use of digital financial services and mobile money services in Uganda

2021 ◽  
Vol ahead-of-print (ahead-of-print) ◽  
Author(s):  
Tapiwanashe James Museba ◽  
Edmore Ranganai ◽  
Gianfranco Gianfrate
Keyword(s):  
Qualitative Research ◽  
Financial Services ◽  
Social Impact ◽  
Positive Impact ◽  
Financial Inclusion ◽  
Bottom Of The Pyramid ◽  
Content Type ◽  
Customer Perception ◽  
Mobile Money ◽  
The Impact

Purpose This paper aims to investigate the impact of fintech, mobile money and digital financial services in Uganda and factors impacting adoption of the services. The study will also determine their social impact through financial inclusion in the Ugandan market. Design/methodology/approach This study covers the adoption and use of fintech, mobile money and digital financial services in Uganda. A case study approach was used through a survey questionnaire for 400 randomly selected participants within the Kampala region. Questionnaire was designed to measure customer perception of digital financial services and adoption including mobile money and agency banking. Findings The adoption of mobile money services is driven by mobile devices penetration and the need for access to financial products and services for the unbanked. Results support CGAP (2013) that observed that mobile money adoption was based on two key variables: social network and social interactions of the customer and a segment of customers who can be described as mobile technology leaders (early adopters). There has been positive impact on person to person transfers, grocery payments and mobile money providers have to continue to simplify the access to financial services and bring convenience to the bottom of the pyramid. And mobile money positively impacts sustainable developmental goals covering Gender Equality (SDG5), SDG 8 – Decent Work and Economic Growth; expanding financial inclusion through mobile money and SDG 10 – Reduce Inequalities. Research limitations/implications This study has limitations commonly prevalent with qualitative research, including the small size limited to Kampala and challenges of making generalisations beyond this context. Practical implications The paper might serve as a valuable source of information for government and fintech companies in developing the digital financial services ecosystem as well as for students and academics for further case studies in this area. Originality/value This paper serves as one of the first qualitative research papers concerning mobile money and digital financial services adoption, solely focused on Uganda. Its value is in its showcasing of the importance of mobile money among customers in emerging markets.

Financial Inclusion

2020 ◽  
pp. 149-165
Author(s):  
Dian Agustia ◽  
Nadia Anridho
Keyword(s):  
Sustainable Development ◽  
Financial Services ◽  
Low Cost ◽  
Financial Inclusion ◽  
Low Risk ◽  
Easy Access ◽  
Financial Industry ◽  
Development Goals ◽  
Low Costs

Financial inclusion is a term that is used to describe easy access of financial products and services for everyone. G20 countries, including Indonesia, show high commitment to accelerate financial inclusion. Financial inclusion also facilitates the achievement of 17 Sustainable Development Goals. Fintech or digital financial technology is one of the most recent innovations in financial industry. It has grown at a rapid speed in the recent years. Fintech provides products and services with low costs, better quality, and stable financial landscape. With its flexibility and simplicity, Fintech may facilitate the offering of financial services to people who are “unbanked,” or to small business at low cost and low risk. Hence, this chapter thoroughly discusses FinTech's role in supporting financial inclusion in Indonesia. Indonesia is one of the G20 countries that is committed to conduct financial inclusion. Specifically, this chapter elaborates financial inclusion, Fintech in Indonesia, and role of Fintech in supporting financial inclusion in Indonesia.

scholarly journals A Research on the Combination of Oblique Photography and Mobile Applications Based on the Sustainable Development of Tourism

2020 ◽  
Vol 12 (9) ◽  
pp. 3501
Author(s):  
Mengyi Lin ◽  
Fu-Yuan Li ◽  
Haibin Zhou
Keyword(s):  
Social Media ◽  
Sustainable Development ◽  
Mobile Applications ◽  
Sustainable Development Goals ◽  
Driving Forces ◽  
Positive Impact ◽  
Modern Society ◽  
The Sustainable Development ◽  
Development Goals

Tourism is one of the world’s fastest driving forces of economic development, playing an important role in achieving sustainable development goals. In modern society, mobile social media is a communication and decision-making platform for users and a source of big data information about travel. Obtaining and analyzing travel data can provide customer-oriented information about travel destinations and comprehensive services for both tourism operators and tourists. It has a positive impact on the sustainable development of society, economy, environment, and humanities. Starting with theoretical analysis and empirical research, this study combines social media and oblique photography, conducts a case study of the Pingtan comprehensive experimental area in China, and develops an app about online travelling to provide corresponding information for consumers’ decisions. This study also discusses the potential value of the app, i.e., assisting the development of smart travel in city, achieving sustainable development of tourism, and contributing to tourism globally.

scholarly journals The Sustainable Development of Financial Inclusion: How Can Monetary Policy and Economic Fundamental Interact with It Effectively?

2019 ◽  
Vol 11 (9) ◽  
pp. 2524 ◽  
Author(s):  
Xuluo Yin ◽  
Xuan Xu ◽  
Qi Chen ◽  
Jiangang Peng
Keyword(s):  
Sustainable Development ◽  
Monetary Policy ◽  
Positive Impact ◽  
Sudden Change ◽  
Financial Inclusion ◽  
Short Term ◽  
The Sustainable Development ◽  
Empirical Results ◽  
Economic Fundamentals ◽  
The Impact

It is necessary to analyze the relationship between financial inclusion and circumstances-monetary policy and economic fundamentals, which has a practical reference value for policy makers. This paper studies the impact of the circumstances on financial inclusion factors by using a vector autoregressive method. Empirical results show that monetary policy has a short-term positive impact on financial inclusion factors, while the economic fundamental has the opposite, which means that the positive monetary policy promote the development of financial inclusion in the short term and the sudden change of the economic situation will make it harder. Based on the data of the World Bank and the situation of China, we make an analysis and comparison of the empirical results, and draw two implications: first, the sustainable development of financial inclusion needs a suitable circumstance; second, the appropriate coordination and mutual facilitation of economic fundamentals and finance is conducive to the sustainable development of financial inclusion.

Mobile Money Landscape in the 12 SADC Countries using FinScope Survey Data

GIS Business ◽  
2017 ◽  
Vol 12 (3) ◽  
pp. 25-32
Author(s):  
Kingstone Mutsonziwa
Keyword(s):  
Mobile Applications ◽  
Financial Services ◽  
Financial Inclusion ◽  
Poor People ◽  
Main Stream ◽  
Mobile Money ◽  
The World Bank ◽  
Mobile Financial Services ◽  
Money Transfer ◽  
Game Changer

There is no doubt that mobile money is bringing the under-served and the excluded population into the main stream financial services corridors. Based on the FinScope surveys, mobile money is becoming one of the enablers of financial inclusion. In an increasing number of developing countries, a number of poor people are using basic mobile phones to transfer money, paying for goods and accessing some basic financial services. According to the World Bank, mobile financial services are amongst the most promising mobile applications in the developing world. Although FinScope results show that mobile money usage is relatively low (23%) in the SADC region, the trend of usage is coming up fast. FinScope results show that close to 7 in 10 mobile money users are using it as a remittances/money transfer vehicle while 54% for buying airtime. It is encouraging that about 7 million adults (24% of mobile money) store value or save money in their mobile money accounts. Some barriers to mobile money relate to: affordability, perceived cost of mobile money, lack of understanding of mobile money/lack of awareness and no access to cell phones. Besides these barriers, mobile money is becoming a game changer for the landscape of financial inclusion in the SADC region.

scholarly journals The Impact of Financial Inclusion on Public Financial Services Education through Financial Technology in Sleman Regency, Indonesia

2019 ◽  
Vol 9 (2) ◽  
pp. 155-174
Author(s):  
I Made Laut Mertha Jaya
Keyword(s):  
Financial Services ◽  
Structural Equation ◽  
Quantitative Research ◽  
Positive Impact ◽  
Financial Inclusion ◽  
Test Reliability ◽  
Equation Modeling ◽  
Modeling Analysis ◽  
The Impact ◽  
Financial Technology

The purpose of this study is to know the impact of financial inclusion on public financial services education through financial technology. This research was conducted in Sleman Regency because the area was quite large in Yogyakarta, and was ranked third. This type of research is quantitative research. Data collection methods used are questionnaires and literature studies. Data analyses used in this study are the validity test, reliability test, descriptive statistical test, and SEM (Structural Equation Modeling) analysis test. The results of this study found that financial inclusion has been proven to have no impact on public financial services education. However, financial inclusion has proven to have a significant impact on financial technology in Sleman Regency in 2018. In addition, financial inclusion through financial technology has also proven to have a positive impact on public financial service education in Sleman Regency in 2018.

Impact of financial inclusion on poverty alleviation through cooperative banks

2018 ◽  
Vol 45 (5) ◽  
pp. 808-828 ◽  
Author(s):  
Tarsem Lal
Keyword(s):  
Financial Services ◽  
Poverty Alleviation ◽  
Positive Impact ◽  
Financial Inclusion ◽  
Primary Data ◽  
Content Type ◽  
Study Results ◽  
Depth Analysis ◽  
Cooperative Banks ◽  
The Impact

Purpose The purpose of this paper is to examine the impact of financial inclusion on poverty alleviation through cooperative banks. Design/methodology/approach In order to fulfil the objectives of the study, primary data were collected from 540 beneficiaries of cooperative banks operating in three northern states of India, i.e., J&K, Himachal Pradesh (HP) and Punjab using purposive sampling during July-December 2015. The technique of factor analysis had been used for summarisation of the total data into minimum factors. For checking the validity and reliability of the data, the second-order CFA was performed. Statistical techniques like one-way ANOVA, t-test and SEM were used for data analysis. Findings The study results reveal that financial inclusion through cooperative banks has a direct and significant impact on poverty alleviation. The study highlights that access to basic financial services such as savings, loans, insurance, credit, etc., through financial inclusion has generated a positive impact on the lives of the poor and help them to come out of the clutches of poverty. Research limitations/implications The study was conducted amidst few limitations. First, the in-depth analysis of the study is restricted to three northern states only because of limited resources and time availability. Second, the study is limited to the perception of financial inclusion beneficiaries only, which, in future, could be carried further on the perception of other stakeholders such as bank officials, business correspondents, village panchayats, etc. Originality/value The study makes contribution towards the financial inclusion literature relating to poverty alleviation and fulfils the research gap to some extent by assessing the impact of financial inclusion on poverty alleviation through cooperative banks. This paper can help the policymakers and other stakeholders of cooperative banks in promoting banking habits among poor rural households both at the national and international level.

Sign in / Sign up

Export Citation Format

Share Document