How Can Blockchain Shape Digital Transformation: A Scientometric Analysis and Review for Financial Services

2020 ◽  
Author(s):  
Jialong Li ◽  
Xiaoling Huang ◽  
Chanwen Wu ◽  
Yiling Yang ◽  
Danling Zhang ◽  
...  
Keyword(s):  
Financial Services ◽  
Digital Transformation ◽  
Scientometric Analysis

scholarly journals Ensuring Sustainable Development of the National Financial Market Based on Digital Financial Services

2021 ◽  
Vol 93 ◽  
pp. 02029
Author(s):  
Mikhail Loginov ◽  
Natalia Usova ◽  
Aigerim Baigotanova
Keyword(s):  
Sustainable Development ◽  
Financial Market ◽  
National Economy ◽  
Financial Services ◽  
Current Situation ◽  
Digital Transformation ◽  
Financial Assets ◽  
Medium Term ◽  
Mechanism Of Interaction ◽  
Theoretical Foundations

The article is devoted to the development of the national financial market and ensuring its stability on the basis of digital transformation. Subject of research: digitalization of the financial market. The aim of the study is to study the theoretical foundations of the financial market and determine the priorities of its development based on the digitalization of services to ensure sustainable development in the medium term. Method of research. in the process of writing, the authors used such methods as analysis, grouping, comparison, and synthesis. Results: 1. The features of digitalization of services provided in the national financial market are disclosed. 2. The mechanism of interaction of the main participants in the digital financial assets market is presented and their characteristics are given. 3. Measures for digital transformation of the national financial services market are proposed, taking into account the current situation in the national economy. Scientific novelty: the mechanism of interaction of the main participants in the digital financial services market was determined, measures for the digital transformation of the financial services market were proposed.

Perception, Adoption, and Pattern of Usage of FinTech Services by Bank Customers: Evidences from Hojai District of Assam

2020 ◽  
Vol 6 (1) ◽  
pp. 7-22
Author(s):  
Ankita Das ◽  
Debabrata Das
Keyword(s):  
Baby Boomers ◽  
Financial Institutions ◽  
Generation X ◽  
Financial Services ◽  
Digital Transformation ◽  
Financial Inclusion ◽  
Global Average ◽  
Demographic Profiles ◽  
Generation Z ◽  
The Relationship

With the advent of technology, banking and financial services have widened their scope. India achieved FinTech adoption rate of 87 percent as against the global average of 64 percent mostly contributed by FinTech startups aiming for providing access to financial services even in the remotest areas. Realizing the potential of FinTech to contribute toward financial inclusion and stability, the Governments have taken requisite steps toward digital transformation and promote FinTech ventures. In order to meet the customers’ needs, collaborative moves with FinTech firms have been initiated by financial institutions as well. This article aims to investigate the relationship between different demographic profiles, the adoption of FinTech services, the perception, user pattern, and constraints faced by the bank customers in using FinTech services. The results based on survey of 215 respondents reveal significant association between usage of FinTech services and different demographic profiles. However, the awareness and use of such services is found more among millennials and generation Z as compared with generation X and baby boomers. While the FinTech companies gained the popularity in payment space, it is observed that misconception is an important factor that hinders the growth of technology-based services among respondents.

scholarly journals Creating a competitive strategy for a digital financial institution

2021 ◽  
Vol 244 ◽  
pp. 10007
Author(s):  
Margarita Agafonova ◽  
Lyudmila Shevchenko ◽  
Oleg Shalnev ◽  
Andrey Chugunov
Keyword(s):  
Financial Services ◽  
Competitive Strategy ◽  
Financial Institution ◽  
External Environment ◽  
Financial Sector ◽  
Digital Transformation ◽  
Business Transformation ◽  
Financial Organization ◽  
Factors Influencing

The paper reveals the essence of digital changes and digital transformation. It was possible to determine the essence of strategic approaches to business transformation in the turbulent conditions of digital transformations and outline ways to build strategies for digital transformations. The paper analyzed the factors influencing the implementation of digital transformation strategies of the financial sector. Based on the capabilities of the external environment, a brief analysis of new opportunities for digital transformation in the field of financial services was carried out. An attempt was made to develop approaches to creating strategic digital transformations of financial companies, as well as develop a competitive strategy for the consistent development of a specific financial organization based on strategic digital changes in the digital transformation environment of the industry.

scholarly journals Influencing factors for the digital transformation in the financial services sector

2020 ◽  
Author(s):  
Oliver Werth ◽  
Christoph Schwarzbach ◽  
Davinia Rodríguez Cardona ◽  
Michael H. Breitner ◽  
Johann-Matthias Graf von der Schulenburg
Keyword(s):  
Influencing Factors ◽  
Social Factors ◽  
Financial Services ◽  
Digital Transformation ◽  
Underlying Structure ◽  
Services Sector ◽  
Insurance Sector ◽  
Financial Services Sector ◽  
Primary Driver ◽  
Almost All

AbstractDigital transformation affects almost every area in societies and has consequences for incumbent companies. With qualitative research, we explore the influencing factors for digital transformation in the financial services sector. We use a PEST-model and Porter’s Five Forces as the underlying structure for our analysis. Our interviews and findings show that the financial services sector face the same current challenges, but their impact is perceived higher in the banking than in the insurance sector concerning social factors and bargaining power of buyers. The character of the current development is evolutionary rather than disruptive. Almost all incumbents currently focus on modernizing and consolidating their backend-systems. The aim is to enable them for new customer-oriented services. A primary driver for the digital transformation is the threat of a broader market entry by BigTechs. Our research provides a comprehensive overlook about the influencing factors of digital transformation using statements from experts in the field.

scholarly journals Digital transformation of the financial industry: The substance and trends

Upravlenets ◽  
2020 ◽  
Vol 11 (3) ◽  
pp. 72-81
Author(s):  
Ivan Kotliarov
Keyword(s):  
Financial Market ◽  
Financial Services ◽  
Global Economy ◽  
Digital Transformation ◽  
Methodological Framework ◽  
Financial Industry ◽  
Distinctive Features ◽  
Financial Products ◽  
Analysis And Synthesis ◽  
Unified Description

Digital transformation (digitization) of the financial industry is the reason behind the deep change in the models of interaction between actors in the financial market. However, a generally accepted interpretation of digitalization has not yet been proposed. The paper discusses the distinctive features of the financial industry digitalization and uses them as a basis for offering a unified description of the nature of this transformation. The methodological framework is the notion of three types of innovation – technology, organization, and product. The research methods used in the article are analysis and synthesis. The paper demonstrates how the types of innovation determine the nature of the digital transformation of the financial industry and how they are manifested in various digital financial products. Digital transformation of finance includes two aspects: (a) Fintech revolution, i.e. technological companies entering the financial market, and (b) adoption of innovative digital technologies by traditional financial companies. We propose the 4U model to describe the marketing aspect of the financial industry digital transformation and introduce the concept of flexible finance as a way to provide financial services that suggest lower liability of financial institutions. The research results show that, firstly, digital transformation of the financial industry is not limited to the technological aspect but also includes organizational and product-related elements. Secondly, the trends in the financial industry digitalization are similar to those in the digital transformation of the global economy.

scholarly journals Digital Transformation of Financial Services in Russia

2021 ◽  
Vol 18 (2) ◽  
pp. 277-289
Author(s):  
N.V. Usova ◽  
◽  
M.P. Loginov ◽  
Keyword(s):  
Financial Services ◽  
Digital Transformation

scholarly journals Integrity of the Corporate Social Responsibility and Management of Financial Services in the Digital Era

2021 ◽  
Author(s):  
Darina Saxunova ◽  
Heiko Hector ◽  
Jana Kajanova ◽  
Peter Slivka
Keyword(s):  
Corporate Social Responsibility ◽  
Social Responsibility ◽  
Financial Services ◽  
Historical Development ◽  
Historical Perspective ◽  
Well Being ◽  
Digital Transformation ◽  
Digital Era ◽  
Human Decision ◽  
Corporate Social

Financial and banking industry are exposed to enormous progress in technology in order to benefit people and companies. Even governments are preparing to move ahead from cash to a cashless economy, it is essential to look deeper how the success of the digital transformation can influence the corporate social responsibility (CSR). The research object is CSR in the digitalization era focusing on accounting and finance services. The objective of this research study is to focus on the integrity of CSR and digital technologies in finance sector assisting in human decision making, business managerial approaches towards well-being of society are analysed. Then concepts generating benefits for the society are systemized in their historical development and their analysis and comparison are applied to highlight common features, discrepancies and deviations from CSR in their historical perspective. The contributions of the paper comprise in stressing the historical perspective of CSR development and its enhancement, emphasizing selected historical personalities that impacted with their work the CSR development, and finally the necessity of integration of CSR and finance world in the digital age, i.e. the digital process of accounting and financial services. This process should contribute to the crucial SDG accomplishment–“the well-being of society”.

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