scholarly journals Evaluation of Availability of Online Financial Services to the Population of the Kemerovo Region (Kuzbass)

2020 ◽  
Vol 2020 (3) ◽  
pp. 387-396
Author(s):  
Elmira Lubkova ◽  
Galina Ermolaeva ◽  
Anna Shilova
Keyword(s):  
Financial Institutions ◽  
Financial Literacy ◽  
Financial Services ◽  
Remote Access ◽  
Insurance Companies ◽  
Banking Services ◽  
Remote Areas ◽  
The One ◽  
The Relationship ◽  
Logical Research

The availability of online financial services is becoming increasingly relevant in the context of the digital economy. On the one hand, they are easily assessable and not time-consuming. On the other hand, there is insufficient financial literacy and incomplete Internet coverage of remote areas – the obstacles that have to be overcome. The research objective was to evaluate availability of online financial services in remote access. The study featured the relationship between consumers and financial institutions in the process of implementing financial services in remote access. It was based on empirical, monographic, and abstract-logical research methods. An analysis of empirical data showed that most respondents could choose remote banking services. Fewer respondents had access to online services of insurance companies and other financial institutions. Respondents complained about various problems in obtaining remote access to financial services. The authors believe that the research can help improve regional financial programs and encourage further studies of local financial availability by increasing financial literacy, full Internet coverage, and confidence in financial institutions.

scholarly journals Region-Wise Usage of Banking Services – A study of Gujarat

2020 ◽  
pp. 106-109
Keyword(s):  
Financial Literacy ◽  
Financial Services ◽  
Rural Households ◽  
Primary Data ◽  
Structure Questionnaire ◽  
Banking Services ◽  
Financial Products ◽  
Substantial Progress ◽  
Indian Banks ◽  
Corporate Social

Financial services actively contribute to the humane & economic development of the nation. Financial services lead to social and economic safety hence, each & every individual should be provided with affordable institutional financial products/services popularly called ―Financial Inclusion‖. Despite witnessing substantial progress in financial sector reforms in India, it is overwhelming to note that nearly half of the rural households even today do not have any access to any source of funds (savings/credit) - institutional or otherwise. Hardly one-fourth of the rural households are assisted by banks. Hence the major task before banks are to bring most of those excluded, i.e. 75 percent of the rural households, under the mainstream of formal financial services. There is a need for the formal financial system to look at increasing financial literacy and financial counseling. As a part of corporate social responsibility now a day’s Indian banks and financial market players should actively look at promoting such programs. Financial products& services are identified as basic banking services like deposits accounts, institutional loans, access to payment, remittance facilities & also life & non-life insurance services. The present paper is an attempt to capture the region-wise usage of banking services. The study collected data of 900 respondents from five regions of Gujarat i.e. South Gujarat, North Gujarat, Central Gujarat, Saurashtra, and Kachchh. The study used a five-point Likert scale agreement method to understand the usage of banking services. Also, the study captured the demographic profile of respondents from. The primary data collected through a structure questionnaire.

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.

Operational Process Management in the Financial Services Industry

2010 ◽  
pp. 1084-1105
Author(s):  
Diana Heckl ◽  
Jürgen Moormann
Keyword(s):  
Financial Institutions ◽  
Financial Services ◽  
General Framework ◽  
Process Management ◽  
Dynamic Environment ◽  
Insurance Companies ◽  
Financial Services Industry ◽  
Operational Process ◽  
Production Processes ◽  
Services Industry

The financial services industry faces significant competitive pressures. Economic and political influences, incessant regulation, and fast changing markets make for a highly complex and dynamic environment. Thus, banks and insurance companies are forced to permanently improve their performance – raising process performance represents one of the biggest levers for success. This chapter analyses the challenges of operational process management for banks and insurance companies. The involvement of customers in service processes of financial institutions make these not as easy to manage as production processes. In response to these challenges, cornerstones for a general framework for operational management of service processes will be developed. The aim of this chapter is to present a framework for structuring service processes which allows combining influences by customers and an operational process management. The concept is based on the modularisation approach and will be demonstrated using a loan process as an example.

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 Customer Satisfaction in Retail Banking Services in Nepal

2019 ◽  
Vol 12 (1) ◽  
pp. 45-58
Author(s):  
Phul Prasad Subedi
Keyword(s):  
Regression Analysis ◽  
Customer Satisfaction ◽  
Financial Institutions ◽  
Commercial Banks ◽  
Retail Banking ◽  
Descriptive Statistics ◽  
Banking Services ◽  
Factors Affecting ◽  
Independent Variables ◽  
The Relationship

This research mainly focuses on analysing the factors affecting customer satisfaction in retail banking in Nepal. The study adopts descriptive and explorative research design to deal with the fundamental issues associated with various factors of customers’ satisfaction and retail banking. The study is based on questionnaire survey of 200 customers of 10 different “A” class financial institutions, i.e. commercial banks. Descriptive statistics, correlation coefficient and regression analysis have been applied to estimate the relationship between customer satisfaction as dependent variable and service quality variables as independent variables. The empirical evidences indicate that reliability, responsiveness, assurance and tangibles factors have positive and significant impact on customer satisfaction. It reveals that higher the level of responsiveness, reliability, assurance and tangibility higher would be the customer satisfaction.

Financial exclusion and financial capabilities in Canada

2016 ◽  
Vol 8 (2) ◽  
pp. 212-227 ◽  
Author(s):  
Laura Lamb
Keyword(s):  
Survey Data ◽  
Financial Literacy ◽  
Financial Services ◽  
Conclusive Evidence ◽  
Exploratory Research ◽  
Financial Capability ◽  
Content Type ◽  
Financial Exclusion ◽  
Canadian City ◽  
The Relationship

Purpose The financially excluded are often denied basic financial services from mainstream banking institutions, leading them to high-cost fringe finance institutions (FFIs) such as payday loan companies and pawnshops. While strategies to address financial exclusion often include financial capabilities education, there does not appear to be evidence suggesting such education is an appropriate solution. The purpose of this study is to explore the relationship between financial capability and financial exclusion with survey data collected from the Canadian city of Kamloops located in the southern interior of British Columbia. Design/methodology/approach This exploratory research addresses the objective with survey data collected on the banking habits and financial capability levels of fringe finance users in a Canadian city. Findings The results imply that fringe finance users do not have lower levels of financial capability than those who do not use fringe finance, when education and income are controlled. Research limitations/implications Limitations include the relatively small survey sample of 105 people in one urban center in Canada. Originality/value While financial literacy is acknowledged to be an important life skill for all members of society, there is no conclusive evidence suggesting it is a solution to financial exclusion. This is the first research to examine the relationship between financial exclusion and fringe finance use in Canada by collecting data on fringe finance users with face-to-face interviews.

scholarly journals ПІДВИЩЕННЯ РІВНЯ ФІНАНСОВОЇ ГРАМОТНОСТІ ТА ФІНАНСОВОЇ ОСВІТИ — ВИКЛИК СУЧАСНОСТІ

2019 ◽  
Vol 13 ◽  
pp. 429-438
Author(s):  
Т. А. Латковська
Keyword(s):  
Financial Institutions ◽  
Financial Literacy ◽  
Financial Services ◽  
Financial Education ◽  
General Information ◽  
Financial Knowledge ◽  
System Protection

У статті розглядаються питання фінансової грамотності та фінансової освіти, які на сьогоднішній день є актуальними та необхідними. Доводиться, що недостатнє володіння основами фінансових знань і загальною інформацією громадян про свої права та обов'яз­ки викликає недовіру до фінансових установ, небажання використовувати їх як інстру­мент забезпечення збереження заощаджень та підвищення рівня добробуту. Робиться висновок про потребу системного захисту фінансових прав та законних інтересів широ­ких верств населення, створення умов для підвищення фінансової грамотності та фінан­сової освіти, створення механізмів досудового вирішення конфліктів між споживачами фінансових послуг та фінансовими інститутами.   The questions of financial literacy and financial education, being to date actual and necessary, are examined in the article. Proved, that the insufficient possessing bases of financial knowledge and general information of citizens about the rights and duties is caused mistrust to financial institutions, unwillingness to use them as an instrument of providing of maintenance of economies and increase of level of welfare. Drawn conclusion about the necessity of system protection of financial rights and legal interests of wide layers of population, in conditioning for the increase of financial literacy and financial education, in creation of mechanisms of pre-trial decision of conflicts between the consumers of financial services and financial institutes.

scholarly journals The Effect Of Corporate Governance On Corruption In Public Listed Companies In The Context Of Jordan

2021 ◽  
Vol 58 (1) ◽  
pp. 555-566
Author(s):  
Mohamed Fahmi Ghazwi
Keyword(s):  
Corporate Governance ◽  
Financial Institutions ◽  
Listed Companies ◽  
The Other ◽  
Minority Shareholders ◽  
Legal Provisions ◽  
Other Hand ◽  
Number Of Factors ◽  
The One ◽  
The Relationship

The OECD defined corporate governance  as, enforce laws, rules and standards that define the relationship between company management on the one hand, shareholders, stakeholders or parties associated with the company on the other, and urge financial institutions to adopt those laws and standards in their systems to ensure universal classification, such laws and standards are called corporate governance. Some countries have adopted such standards, which are based on integrity and transparency, such as the Hashemite Kingdom of Jordan, but the apply these standards to protect the minority of shareholders in the joint stock companies are in conflict with certain legal provisions laid down by the Jordanian legislature in the companies Act. The Jordanian companies' law and some other financial laws have, of course, included a number of factors that encourage corporate governance, but on the other hand, we find texts that still impede the application of these standards and provide indicators that do not encourage the application of their standards and affect the rights of minority shareholders. The study will refer to the most important corporate governance criteria that balance the rights of the minority and majority shareholders with those that still need to be modified.

scholarly journals Leasing as a Tool for Innovative Development of Enterprises

2021 ◽  
Vol 7 (522) ◽  
pp. 195-201
Author(s):  
O. V. Zhulyn ◽  
◽  
I. I. Nazarenko ◽  
N. P. Tesliuk ◽  
V. V. Shturko ◽  
...  
Keyword(s):  
Financial Literacy ◽  
Financial Services ◽  
Capital Investment ◽  
Financial Statements ◽  
Financial Inclusion ◽  
Bank Loan ◽  
Innovative Development ◽  
Financial Leasing ◽  
Fixed Assets ◽  
The Relationship

In countries with a developed financial market, one can often see the relationship between the level of distribution of financial leasing services and the volume of capital investment and the introduction of innovations in enterprises. In the context of the implementation of the concept of sustainable development and updating of fixed assets for more energy-efficient ones, financial leasing services are gaining special popularity. The article is aimed at comprehensive analyzing of the domestic market of leasing services and developing a mechanism for improving financial leasing services as a tool for innovative development of enterprises. The article considers the concept of financial leasing; the development of the leasing services market in Ukraine is analyzed; the main problems of leasing services provision, as well as their advantages compared to a bank loan are highlighted; the main directions of development of financial leasing services are proposed. As a result of scientific researches, a mechanism for the development of the financial leasing services market as a tool for innovative development of enterprises and financial inclusion in general has been developed. This mechanism provides for: creation of conditions for easy and equal access to the financial services market for all lessors; expanding possible sources of financing for leasing companies; conducting financial statements in accordance with IFRS and risk management system; carrying out measures to improve financial literacy with an emphasis on the advantages of leasing for enterprises, which should contribute to financial inclusion; creation of a balanced policy of taxation of leasing operations and licensing of owners of leasing companies only with impeccable business reputation and fair behavior in the financial services market.

scholarly journals Digital Financial Services: Prospects and Challenges

2021 ◽  
Vol 24 ◽  
pp. 1-25
Author(s):  
Martha Gertruida Van Niekerk ◽  
Nkgolodishe Hermit Phaladi
Keyword(s):  
South Africa ◽  
Financial Institutions ◽  
Financial Literacy ◽  
Financial Services ◽  
Recognition System ◽  
Financial Inclusion ◽  
Market Abuse ◽  
Lack Of Information ◽  
Digital Identification ◽  
Verification Methods

Digital financial services (DFSs), being financial services accessed and delivered through digital channels, have grown rapidly in South Africa as well as globally. The adoption of the technology for DFSs has led to an increase in financial inclusion, enabling more individuals and businesses to have access to useful and affordable financial products and services, where payments, savings, credit, investment and insurance are included. Through the Financial Sector Regulation Act 9 of 2017 financial inclusion was statutorily enacted for the first time. The regulators are now empowered to insist that financial institutions take proactive steps to expand financial inclusion and can take the necessary steps to enforce these powers. One of the factors that have an influence on whether consumers will adopt DFSs is consumers' perspectives of DFSs. Lack of information and knowledge combined with the cost of data negatively influences the adoption of DFSs. The transfer of information to unbanked people in South Africa with regards to DFSs should be enhanced by the state as it strives to improve financial literacy. DFSs are susceptible to financial crimes like fraud, money laundering, terrorist financing, bribery, corruption and market abuse. The challenges that threaten the interests of customers should be addressed by stricter information verification methods when transacting with clients online. Technological detectors and digital identification should be used more effectively to verify customers and to alert authorities to suspicious transactions. Financial institutions might consider authenticating online transactions by thumb-print or a voice recognition system. This paper emphasises that because of the prospects of greater and deeper financial inclusion in South Africa, the use of DFSs has to be improved and developed and the challenges have to be constructively addressed to unleash the true potential thereof.

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