scholarly journals The Appleization of finance: Charting incumbent finance’s embrace of FinTech

2018 ◽  
Vol 4 (2) ◽  
pp. 159-80
Author(s):  
Reijer Hendrikse ◽  
David Bassens ◽  
Michiel Van Meeteren
Keyword(s):  
Data Mining ◽  
Information And Communication Technologies ◽  
Business Model ◽  
Financial Services ◽  
Business Models ◽  
Communication Technologies ◽  
Data Driven ◽  
Financial Industry ◽  
Information And Communication ◽  
Financial Technology

The rise of financial technology (FinTech) engenders novel business models through integrating financial services and information and communication technologies (ICT). Digital currencies and payments, data mining, and other FinTech applications threaten to radically overhaul the financial sector. This article argues that, while we are becoming aware of how technology giants such as Apple Inc. are making inroads into financial services, we need to become more sensitive to how financial incumbents mimick ICT firms while aiming to neutralize the FinTech challenge. Practices from Silicon Valley are spilling over into ‘traditional’ finance through a process we dub Appleization. We illustrate how incumbents aim to remain indispensable amidst rapid digitization. Mimicking tech strategies, financial incumbents resort to transforming legacy ICT systems into integrated platforms, cultivating entrepreneurial ecosystems where startups are ‘free’ to compete whilst effectively being locked into the incumbent's orbit. We illustrate this by comparing Apple’s business features (locking-in developers, customers and state into a hybrid business model based on a synergy between hardware, software and data-driven platform components) with emerging practices in the financial industry. Our analogy suggests that the Appleization of finance might radically transform, yet not undercut the oligopolistic position of financial incumbents.

scholarly journals Financial sector evolution and competencies development in the context of information and communication technologies

2020 ◽  
Author(s):  
Ilja Arefjevs ◽  
◽  
Aivars Spilbergs ◽  
Andris Natrins ◽  
Atis Verdenhofs ◽  
...  
Keyword(s):  
Information And Communication Technologies ◽  
Business Model ◽  
Business Models ◽  
Business Processes ◽  
New Products ◽  
Communication Technologies ◽  
Financial Sector ◽  
New Business ◽  
Information And Communication ◽  
Competencies Development

The development of information and communication technologies (ICT) has a significant impact on the business model of companies operating in the financial sector. Digital transformation leads to changing existing business model rapidly, as well as necessity of developing new processes specifically related to the use of ICT in business processes, development of new products and updating existing ones. At present, changes in the demand for ICT related processes in financial sector are observed both through the development of different technologies and their applications core or ancillary processes (e.g. innovations in payment systems including crypto currencies, blockchain-assisted smart contract, credit markets and insurance including peer-to-peer lending). Based on the opportunities offered by ICT, new business models need to be developed in the financial sector to transform these capabilities into new products and services that respond to changing customer demand. The aim of research to investigate the changes taking place in financial sector in the light of developments in ICT for acquisition of necessary competencies. Research methodology includes systematic review of scientific literature, analysis of selected financial sector statistics, semi-structured industry expert interviews and statistics analysis. The empirical study is limited to the financial sector of Latvia. Although due to the global nature of the financial sector the research findings could be applied internationally.

The Datalogical Drug Mule

2017 ◽  
Vol 3 (3) ◽  
pp. 9-29
Author(s):  
Juan Llamas-Rodriguez
Keyword(s):  
Information And Communication Technologies ◽  
Communication Technologies ◽  
Data Driven ◽  
Biological Processes ◽  
Cultural Narratives ◽  
Government Documents ◽  
Human Labor ◽  
Information And Communication ◽  
Data Capturing ◽  
Legal Structures

Borders and bodies are increasingly regulated by data-capturing mechanisms spread across the world through information and communication technologies. This article traces the features and implications of such a border-body datalogical entanglement through the figure of the drug mule. It analyzes government documents and recorded case studies to argue that this figure emerges from an assemblage of cultural narratives, legal structures, human labor, technical practices, and biological processes. The datalogical drug mule is already implicated in a struggle over what, and how, data is meaningful and actionable. Investigating this figure allows us to begin disentangling the data-driven mechanisms that constitute modern borders and bodies while at the same time accounting for analog continuities in contemporary practices of border security.

scholarly journals Digitalization of Financial Services in Albania Under Restricted Measures Covid-19

2020 ◽  
Vol 3 (2) ◽  
pp. 17
Author(s):  
Rezana Balla
Keyword(s):  
Financial Services ◽  
Business Models ◽  
Legal Framework ◽  
Financial Industry ◽  
Technology Innovations ◽  
Markets And Institutions ◽  
New Business ◽  
Job Challenges ◽  
Digital Transactions ◽  
Financial Technology

Under the restricted measures due to the global pandemic Covid-19, like all other services, financial services had difficulties in performing their financial activities. These difficulties are stronger at countries where financial services are denied for a long time. Financial services denial is an issue that has affected not only Albania but small Balkan countries as well. The reasons for this denial are many, but among them we can distinguish the lack of credit experience, as one of the common reasons to be excluded in these countries from the development of the financial sector. Currently, one of the reasons for the financial denial is the emergency created by Covid-19, where physical distancing and other measures taken by governments to restrict movement and services make financial service impossible. Thus, one of the most effective ways to perform financial services remotely is financial technology. Financial technology refers to the possibilities of financial innovation through technology that can result in new business models, applications, processes, or products with an effectiveness related to financial markets and institutions and the provision of financial services. This paper aims to present the challenges of the legal framework and regulatory institutions, to provide recommendations for its improvement, to enable the development of financial technology in the financial market in Albania. The paper address issues such as the Bank of Albania's consideration on the Directive (EU) 2015/2366 On Payment Services (PSD II). What benefits or challenges would its implementation bring? How is the financial industry projected after the implementation of PSD II? What are the biggest job challenges with payment institutions that have not been to the market before or that bring technology innovations? The paper addresses the issue of money laundering through online digital transactions as well.

Business Model Design

2016 ◽  
Author(s):  
Raphael Amit ◽  
Christoph Zott
Keyword(s):  
Information And Communication Technologies ◽  
Business Model ◽  
Dynamic Capabilities ◽  
Holistic Approach ◽  
Communication Technologies ◽  
Model Design ◽  
Information And Communication ◽  
Business Model Design ◽  
The Rich ◽  
Economic Landscape

The rapidly changing economic landscape, coupled with transformational advances in information and communication technologies, presents many challenges to managers of large and small enterprises alike. They need to adopt a holistic approach to continuously renew and innovate their organizations’ capabilities, their product and service mix, their product-market strategies, their activity systems, and more. In response to such challenges, two perspectives have emerged in the strategic management literature in the last two decades: the dynamic capabilities paradigm and the business model perspective. With few exceptions, these viewpoints have been kept separate. In this chapter, we explore the rich links between these two perspectives and suggest that business model design, when viewed through a process lens, is in fact a dynamic capability. Our contribution is to elaborate on the mechanisms of this capability.

New tools for developing the living environment (based on materials of Gaidar Forum – 2021)

2021 ◽  
Vol 23 (1) ◽  
pp. 6-12
Author(s):  
NATALYA YASKOVA ◽  
Keyword(s):  
Information And Communication Technologies ◽  
Business Models ◽  
Communication Technologies ◽  
Living Environment ◽  
Investment Activity ◽  
New Business ◽  
Information And Communication ◽  
The Government ◽  
National Economies ◽  
Expert Community

The pandemic has become the reason for structural reforms as well as for discussing many issues by the expert community. In this regard, the Gaidar Forum – 2021 became the very platform where experts in various fields of knowledge could meet. Specialists discussed such issues as sustainable development problems, the innovative focus of development, the introduction of IT technologies, restructuring of national economies, new business models, etc. Most of the questions, one way or another, concern the problem of the evolution of the living environment. These are the questions that were presented by the experts of the “Building together” discussion platform. Analyzing the results of the construction complex, which ensures the implementation of the national project “Housing and the Urban Environment”, made it possible to identify the nature of further measures taken by the Government of the Russian Federation in order to create a competitive living environment. Experts systematized the prospects for business models of investment and construction activities involved in the development of territories, identified new tools for enhancing investment activity, and focused the attention of the authorities on information and communication technologies used in modeling the living environment.

Use of New Innovative Technologies in Business by All Age Groups

2017 ◽  
pp. 79-103
Author(s):  
Stelian Stancu ◽  
Constanta-Nicoleta Bodea ◽  
Laura Elly Naghi ◽  
Oana Madalina Popescu ◽  
Alina Neamtu
Keyword(s):  
Information And Communication Technologies ◽  
Business Models ◽  
Age Groups ◽  
Communication Technologies ◽  
Entrepreneurial Activity ◽  
Future Research ◽  
Innovative Technologies ◽  
Entrepreneurial Attitudes ◽  
Information And Communication ◽  
Key Indicators

This paper makes a foray into the new innovative business technologies by presenting several important aspects of the Digital Economy, Business models, Entrepreneurship, Information and Communication Technologies (ICT), ICT4D, Innovation Technology. The second part of the paper consists of an analysis of new innovative technologies results in business, using Global Entrepreneurship Monitor (GEM), thus presenting the conceptual framework GEM, How GEM Defines Entrepreneurship, Measures of Entrepreneurial Activity, Entrepreneurial Aspirations, Entrepreneurial Attitudes. Based on this analysis, empirical results of new innovative business technologies in Romania are configured, highlighting the key indicators for Romania (2015), Entrepreneurial Activity rates in efficiency-driven EU Countries in 2014 (% of population aged between 18-64 years), distribution of entrepreneurs by gender, age, education and household income in Romania 2014 (%), both individually and overall. The paper concludes with key findings and proposals for the following questions to be explored in future research.

Decision Making and Behavior

2020 ◽  
pp. 250-268
Author(s):  
Jovanna Nathalie Cervantes Guzmán
Keyword(s):  
Decision Making ◽  
Economic Theory ◽  
Information And Communication Technologies ◽  
Business Model ◽  
Communication Technologies ◽  
International Level ◽  
Behavioral Bias ◽  
Secondary Sources ◽  
Information And Communication ◽  
And Behavior

The chapter explores the utility of neuroeconomics in decision making and behavior. Scientific knowledge will be advanced in the need for the application of neuroeconomics focused on one of the services of the information and communication technologies (ICT) of companies, that is, e-commerce of exponential artisanal SMEs of women entrepreneurs, by developing a proposal for a business model to increase the possibility of growth of their companies at the level national and international level. The methodology used was deductive, exploratory, descriptive, correlational, and documentary. Neuroeconomics have the potential to explain the phenomena that are considered as a deviation from the prediction or behavioral bias of decision-making models in economic theory. The study up to this point is quantitative using primary and secondary sources for research.

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.

Introduction to Banking Technology and Management

2008 ◽  
pp. 1-15
Author(s):  
Vadlamani Ravi
Keyword(s):  
Data Mining ◽  
Risk Management ◽  
Computer Science ◽  
Information And Communication Technologies ◽  
Science Communication ◽  
Banking Industry ◽  
Relationship Management ◽  
Communication Technologies ◽  
Customer Relationship ◽  
Information And Communication

This chapter introduces banking technology as a confluence of several disparate disciplines such as Finance (including risk management), Information technology, Computer Science, Communication technology and marketing science. It presents the evolution of banking, the tremendous influence of information and communication technologies on banking and its products, the quintessential role played by computer science in fulfilling banks’ marketing objective of servicing customers better at a less cost and thereby reap more profits. It also highlights the use of advanced statistics and computer science to measure, mitigate and manage various risks associated with banks’ business with its customers and other banks. The growing influence of customer relationship management and data mining in tackling various marketing related problems and fraud detection problems in banking industry is well documented. The chapter concludes by saying that the banking technology discipline is all set for rapid growth in future.

Sign in / Sign up

Export Citation Format

Share Document