scholarly journals FINANCIAL TECHNOLOGY MARKET IN CHINA: CURRENT SITUATION AND PROSPECTS

2020 ◽  
pp. 57-70
Author(s):  
S. A. Barykin
Keyword(s):  
Financial Services ◽  
Rapid Development ◽  
Financial Sector ◽  
Chinese Economy ◽  
Current State ◽  
The World ◽  
Technology Market ◽  
Cloud Technologies ◽  
Entire Economy ◽  
Financial Technology

The purpose of this article is to assess the extent, trends and consequences of the development of the financial technology market in China. To do this, an analysis of the current state of the Fintech market in China was carried out, the development factors of this market in the country and the consequences of the rapid development of the market for the entire economy of China were identified. It was concluded that the Chinese Fintech market is the leading market in the world in terms of transaction volumes and revenue. Areas were identified in which the development of the Fintech market had the greatest impact on the Chinese economy: the growth of the penetration of cloud technologies in the financial sector of China, the involvement of new segments of the population in the financial sector, and the increase in the efficiency of financial services.

scholarly journals COMPARATIVE ANALYSIS OF FINANCIAL TECHNOLOGY REGULATION SYSTEMS: FOREIGN AND DOMESTIC EXPERIENCE

2019 ◽  
pp. 7-13
Author(s):  
A. Semynoh ◽  
A. Bukhtiarova ◽  
N. Bort
Keyword(s):  
Comparative Analysis ◽  
Financial Market ◽  
Financial Institutions ◽  
Financial Services ◽  
Personal Data ◽  
Regulation System ◽  
Market Regulation ◽  
The World ◽  
Technology Market ◽  
Financial Technology

In the article, based on the analysis of scientific sources, a comparative analysis of financial market regulation systems in different countries of the world is made. The level of development of regulatory systems in the UK, France, USA, India and Ukraine is characterized. The main institutions that regulate and supervise in the countries of the world are listed. The basic principles of their functioning are presented. It also analyzes the regulatory and provisions governing the activities of fintech companies. It is determined that a particular problem for the development of the financial technology market is the lack of a single regulatory approach to different types of Fintech companies and solutions. This is evidenced by the lack of unified regulatory bodies in the field of fintech, as well as adequate regulatory support both in Ukraine and in foreign countries. At the moment, in most countries of the world, fintech companies are subject to the laws that were adopted in the times of existence of only classical financial institutions, and therefore do not take into account the specifics of individual fintech businesses, and their peculiarities of cooperation with banking and non-banking financial institutions, with intermediaries of the securities market. It is determined that, in accordance with the potential of the financial technology market development and the benefits of its growth, programs for the support and development of the financial market through the introduction of special commissions, accelerator funds and simplified regulation systems in the form of sandbox fintech are being implemented in all analyzed countries. It is determined that the driver of the growth of fintech solutions in the financial services market was the active dissemination of open APIs in the activities of financial institutions, which provide for voluntary exchange of information about bank customers with fintech companies. It is substantiated that an important component of increasing confidence in the financial technology market is ensuring the storage and protection of personal data of fintech companies’ clients. Keywords: financial technology market, fintech, financial services, financial institutions, financial technology market regulation system.

scholarly journals An Online Credit Agreement with Collateral in Indonesia

2021 ◽  
Vol 5 (1) ◽  
pp. 37
Author(s):  
Ma’ruf Akib
Keyword(s):  
Financial Services ◽  
Rapid Development ◽  
Preventive Measure ◽  
The World ◽  
P2p Lending ◽  
Online Registration ◽  
Loan Defaults ◽  
Credit Agreement ◽  
Online Lending ◽  
Financial Technology

Along with the rapid development of information technology which in turn has an impact on economic activity around the world, financial technology is here to provide facilities in the provision of financial services for the community. The ease of convenience offered through unsecured online loans carries the risk of loan defaults made by debtors. The purpose of this research is to find out what is the urgency of the need for collateral as one of the requirements for submitting online loans and how online registration of fiduciary collaterals can be a preventive measure for bad credit in online credit distribution. This study uses a normative-juridical research method. The result of this research is that there is a collateral that the online lending agreement functions as a legal umbrella so that debtors' obligations to creditors are fulfilled so that they avoid default, default, and even investor losses in Fintech P2P Lending activities. The importance of having a fiduciary collateral that is registered in the credit agreement online is to avoid a legal vacuum (rechts vacuum) or legal vacuum (wet vacuum) when there is default or default by the debtor.

أثر التكنولوجيا المالية على القطاع المصرفي في العراق (فرصة ام تهديد؟)

2021 ◽  
Vol 2021 (71) ◽  
pp. 183-199
Author(s):  
شهد ماجد عبد ◽  
أ.م.د عبدالرسول علي حسين
Keyword(s):  
Banking Sector ◽  
Financial Sector ◽  
The World ◽  
The Impact ◽  
Financial Technology

This research talks about the financial technology that has recently begun to appear in the financial sector around the world, and which promises that it will either be the most important competitor to this sector, or the best available way for it to develop. This research talks about the impact of that technology on the Iraqi banking sector in terms of being an opportunity or a threat to it. The problem that this research addresses is: Is the adoption of financial technology, despite its risks, by the Iraqi banking sector will benefit it? Or will those risks be predominant in the end? It stems from the premise that financial technology is one of the most important opportunities available to the Iraqi banking sector. The research reached several conclusions, the most important of which is that financial technology is indeed an opportunity that is not a threat to the Iraqi banking sector (at least for now), but rather it is one of the most important opportunities available to it, so it must follow an offensive remedial strategy by the banking sector using its strengths that Including high levels of security and confidence, which creates the appropriate environment to exploit its opportunities.

Current State of the Worldwide and Russian E-commerce Markets and Prospects for Their Development

2021 ◽  
Vol 144 (5) ◽  
pp. 46-53
Author(s):  
Maxim E. Oschepkov ◽  
Keyword(s):  
Consumer Preferences ◽  
Rapid Development ◽  
Digital Revolution ◽  
Scientific Methods ◽  
Market Growth ◽  
Current State ◽  
The World ◽  
Current Economic Situation ◽  
Key Drivers ◽  
Market Volume

The article examines the current state of the world and Russian retail e-commerce markets and assesses the prospects for their development — the study of these issues is the purpose of the work. The research topic is relevant, because in the context of the global digital revolution and the rapid development of the world economy, the development of e-commerce is becoming one of the key drivers of the growth of all trade and the economy. To achieve this goal, based on the integrated application of such scientific methods as analysis, systematization, synthesis, generalization, classification and description, the following tasks were performed: the main development approaches included in the strategic management system of e-commerce market leaders were identified; the dynamics of the global and Russian e-commerce markets were analyzed; a comparative analysis of the development of e-commerce markets of the leading countries in terms of market volume and market growth rate was made; the key drivers and obstacles to the development of the global and Russian e-commerce markets, which are related to the current economic situation, the state of legal support and changes in consumer preferences, are identified and described; forecasts and trends in the development of markets are formulated.

Policies and Innovations of Financial Technology Business Models in the Digital Economy Era on the E-Business Ecosystem in Indonesia

2022 ◽  
pp. 22-42
Author(s):  
Ahmad Budi Setiawan ◽  
Amri Dunan ◽  
Bambang Mudjianto
Keyword(s):  
Business Model ◽  
Financial Services ◽  
Business Models ◽  
Rapid Development ◽  
Group Discussions ◽  
Business Ecosystem ◽  
Utilization Of Technology ◽  
The Government ◽  
Financial Transactions ◽  
Financial Technology

The rapid development of technology and information systems continues to give birth to various innovations, especially those related to financial technology to meet the various needs of the community, including access to financial services and processing of financial transactions. Financial technology (FinTech) is the implementation and utilization of technology to improve financial and banking services. The development of financial technology in Indonesia itself is growing rapidly, along with the development of existing technology. FinTech is developed by utilizing the latest software, internet, and computing technologies. Based on this, this study examines the development of innovation and policies for the fintech business model in the e-business ecosystem in Indonesia. This research is a qualitative research with data collection methods through focus group discussions, in-depth interviews, and literature studies. This chapter recommends that the government develop and make policies for fintech business model innovation in the e-business ecosystem in Indonesia.

scholarly journals Finance 4.0 as the Idea of Digital Transformation of the Financial Sector

2020 ◽  
Vol 20 (2) ◽  
pp. 134-148
Author(s):  
Vitaliy Ya. Pelykh
Keyword(s):  
Financial Services ◽  
Business Models ◽  
Rapid Development ◽  
Digital Technologies ◽  
Financial Sector ◽  
Scientific Publications ◽  
Research Problems ◽  
Definition Of ◽  
Impact Of Technology ◽  
The Impact

Rapid development and introduction of digital technologies has a significant impact on all areas of the economy. Everywhere causing a revision of existing paradigms, ways of interacting systems and aspects of business models. The author’s analysis of scientific publications shows that the recent financial crises are based on high risks of the traditional banking model, which are transferred to depositors and taxpayers. These processes have served as a driver for changes in the financial sector, changing existing concepts and paradigms towards the implementation of new digital approaches. The author, based on the analysis of the impact of technology on financial services, proposed the concept of Finance 4.0 implies a deep integration of digital technologies in the financial sector, which will lead to an increase in the quality and availability of services, as well as the formation of new rules that ensure healthy competition between market participants. As a result, the need for changes in both the economy as a whole and its branches is determined. This creates a need to develop current digital business models and methods for developing digital financial services. The purpose of the work is to offer a reasonable definition of Finance 4.0, as well as to identify the current requirements necessary for the implementation of the developed solutions within the financial environment. Which requires solving a number of research problems: 1. No definition of Finance 4.0. 2. Aspects of Finance 4.0 Are not defined. 3. It is Necessary to define the role of business models in the field of financial technologies. The relevance of the research is due to the fact that existing approaches to designing business models of financial services do not take into account the specifics of the idea of Finance 4.0 and the primacy of trust, which sometimes leads to the implementation of unprofitable solutions in the financial sector.

scholarly journals Identification and analysis of factors determining the readiness degree of the Russian Federation financial sector to the digitalization processes

E-Management ◽  
2020 ◽  
Vol 2 (4) ◽  
pp. 74-84
Author(s):  
E. A. Khalimon ◽  
V. G. Makeeva ◽  
Yu. N. Kafiyatullina ◽  
G. P. Kharchilava
Keyword(s):  
Financial Market ◽  
Financial Services ◽  
Practical Interest ◽  
Digital Technologies ◽  
Financial Sector ◽  
Strong Impact ◽  
Developed Economies ◽  
Market Participants ◽  
Technology Market ◽  
Identification Analysis

Nowadays, the rapidly growing technology market and the digitalization process that covers all areas of economic activity have a strong impact on financial markets. Changes in the financial sector occur both within the financial market objects themselves and in the processes of interaction with each other and clients. These changes are related to the application of new digital technologies, including distributed accounting technology, big data analysis, cloud computing, artificial intelligence, biometric technologies, augmented / virtual reality. These technologies are related to processes such as customer use of banking applications, remote payments, planning, lending and financing, trade and investment, insurance, security, regulatory operations and communications between financial market participants and customers.Such financial sector processes as fintech, regtech, investtech, creditech, inshurtech, cybertech, opertech, robotech, analytech, which reflect the digital aspect of the traditional processes of this market segment, have been described in the article. The article includes materials obtained in the course of the OECD’s work over the past few years on a number of related topics, including “Innovation in financial services”, “Digitalization and Finance”, which complements the study with additional relevant materials of international level. Technological innovations in the field of finance have been considered and their impact on the processes listed above has been evaluated. A detailed description of each of the nine processes contains the rationale and examples of the use of digital technologies, as well as the degree of integration and impact on these processes. The relevance of this topic is due to the fact that today there are no publications in domestic and foreign sources on the identification, analysis and evaluation of factors that affect the financial sector of the economy due to the lack of statistical and analytical information. In this regard, the conclusions made are of both scientific and practical interest not only in Russia, but also in other countries with developing and developed economies.

scholarly journals Prospects of Russian-Sino Financial Cooperation in the Banking Sector

2021 ◽  
Vol 14 (1) ◽  
pp. 99-104
Author(s):  
A. N. Rodionov ◽  
Zhao Tingchuan
Keyword(s):  
Financial Services ◽  
Entire Range ◽  
Essential Role ◽  
Banking Sector ◽  
Financial Sector ◽  
Financial Cooperation ◽  
Mutual Trade ◽  
Current State

The development of business cooperation between Russia and China in the financial sector is a multifactorial process, in which the banking sector plays an essential role. The article in hand describes the current state of Sino–Russian cooperation in the banking sector, points out the main issues and puts forward some suggestions for improving the working partnership between the two countries in this area with the aim of facilitating mutual trade, attracting investment, and developing the entire range of financial services.

scholarly journals “THE DEVELOPMENT OF DIGITAL ECONOMY IN INDONESIA”

2021 ◽  
Author(s):  
Made Bagoes Pradhana
Keyword(s):  
Financial Services ◽  
Service Providers ◽  
New Technology ◽  
Information Service ◽  
Financial Information ◽  
Financial Industry ◽  
Savings And Loans ◽  
The World ◽  
Money Transfer ◽  
Financial Technology

Currently the world has entered the industrial era 4.0 which is based on new technology and is able to change the entire chain and management in every branch of industry, including the financial industry known as financial technology and digital banking. Infrastructure financial services are growing rapidly in Indonesian services, computation with startup companies, such as payment and money transfer systems, savings and loans, insurance, financial information service providers, capital markets, crowdfunding, and wealth management.

INFLUENCE OF THE DIGITAL ERA 4.0

2021 ◽  
Author(s):  
Vachry Arfansyah Imang
Keyword(s):  
Financial Services ◽  
Industry 4.0 ◽  
New Technology ◽  
Financial Industry ◽  
Face To Face ◽  
Digital Era ◽  
Finance Company ◽  
The World ◽  
Strategic Role ◽  
Financial Technology

The era of industry 4.0 which is based on new technology and can change the entire chain and management in every branch of the industry including the financial industry which is commonly known as financial technology and digital banking has been experienced by the world today. Changes towards Financial Technology and digital banking show that technology is capable of playing a strategic role in providing accessible financial services. This is in accordance with the behavior of consumers who want service without having to be face-to-face at the bank, insurance office, or finance company.

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