scholarly journals Financial technology in the Finnish banking sector and its impact on stakeholders in the wake of COVID-19

2021 ◽  
Vol 11 (1) ◽  
pp. 8-19
Author(s):  
Shab Hundal ◽  
Taisiia Zinakova
Keyword(s):  
Banking Sector ◽  
Banking Industry ◽  
Commercial Banking ◽  
Insurance Companies ◽  
Primary Data ◽  
Structured Interviews ◽  
Firm Financing ◽  
Start Ups ◽  
Future Growth ◽  
Financial Technology

Financial Technology (FinTech, hereafter) has integrated with the banking sector. Despite its fast growth, FinTech is a relatively new and under-explored phenomenon in the academic and corporate spheres. The current study aims to explore, first, the role and relevance of FinTech in the commercial banking sector in Finland; and second, the changing dynamics of stakeholders of the banking industry in the light of FinTech. The above objectives have been studied in the wake of the COVID-19 pandemic. The primary data has been collected through semi-structured interviews. A significant impact of FinTech has been observed in the following aspects of the banking sector: customers, strategy, risk management, investors, operations, competitiveness, and future growth. FinTech adoption has been contributed by the growth in the IT sector and innovations in the field of firm financing including crowdsourcing and peer-to-peer financing. Changing customers’ demands and behaviour have also facilitated FinTech adoption (Lee & Teo, 2015). Banks have been integrating FinTech into insurance services and this feature has become more profound ever since banks increased their cooperation with international insurance companies (Paschen, Wilson, & Ferreira, 2020). Similarly, there has been a significant increase in collaboration between banks and FinTech start-ups. Nonetheless, the unpredictable factors, such as the ongoing COVID-19, can influence the future innovation and adoption of FinTech.

scholarly journals EMERGENCE OF FINANCIAL TECHNOLOGY IN ISLAMIC BANKING INDUSTRY AND ITS INFLUENCE ON BANK PERFORMANCE IN COVID-19 SCENARIO: A CASE OF DEVELOPING ECONOMY

2021 ◽  
Vol 37 (01) ◽  
pp. 97-109
Author(s):  
Ashfaq Ahmad ◽  
Aamir Sohail ◽  
Abid Hussain
Keyword(s):  
Cyber Security ◽  
Banking Sector ◽  
Banking Industry ◽  
Essential Element ◽  
Bank Performance ◽  
Islamic Banking ◽  
Islamic Banks ◽  
Structured Interviews ◽  
Finance Industry ◽  
Financial Technology

Technological intervention and financial innovation are an essential element for the banking sector especially in post-Covid 19 scenario. Islamic banking industry has also no exception and Islamic banks could attain institutional objectives over financial technology. The motivation behind research is to investigate emergence of financial technology in Islamic Banking Industry and its Influence on Bank Performance. The population of the study consists of Islamic banks and windows of Islamic banks operating in Pakistan. The sample size consists of four Islamic banks, five Islamic windows of conventional banks, and State bank of Pakistan. Purposive sampling technique was used by researcher. Semi-structured interviews were conducted and NVIVO software was used for data analysis. Findings indicate that technologies used by different banks to serve the customer are blockchain, mobile banking, customer relations management, cyber security, cloud banking, and fintech start-up. Reaction and response of the Islamic finance industry to the rise of financial technology and its impact on Pakistan is obvious.

EMERGING TRENDS IN BANKING SECTOR - ITS CHALLENGES AND OPPORTUNITIES

2018 ◽  
Vol 6 (26) ◽  
Author(s):  
Karigoleshwar .
Keyword(s):  
Banking Sector ◽  
Banking Industry ◽  
Banking System ◽  
Major Change ◽  
Commercial Banking ◽  
Foreign Banks ◽  
Emerging Trends ◽  
Reserve Bank ◽  
Challenges And Opportunities ◽  
Multiple Regions

In financial sector the banking industry is the largest player, has also been undergoing a major change. Today the banking industry is stronger and capable of withstanding the pressures of competition. Today, we are having a fairly well developed banking system with different classes of banks – public sector banks, foreign banks, private sector banks – both old and new generation, regional rural banks and co-operative banks with the Reserve Bank of India as the fountain Head of the system. In the banking field, there has been an unprecedented growth and diversification of banking industry has been so stupendous that it has no parallel in the annals of banking anywhere in the world. The banking industry has experienced a series of significant transformations in the last few decades. Among the most important of them is the change in the type of organizations that dominate the landscape. Since the eighties, banks have increased the scope and scale of their activities and several banks have become very large institutions with a presence in multiple regions of the country.' The paper examines the new trends in commercial banking. The present era the cashless transactions, E-cheques, mobile wallets. The paper attempts to present the emerging trends and its challenges that recently emerged in the banking sector with special emphasis on digitization. It will be useful to the academicians, banking and insurance personnel, students and researchers. Common readers also know the latest innovations in banking sector

Credit risk management of Ghanaian listed banks

2016 ◽  
Vol 58 (2) ◽  
pp. 162-178 ◽  
Author(s):  
Michelle Ayog-Nying Apanga ◽  
Kingsley Opoku Appiah ◽  
Joseph Arthur
Keyword(s):  
Risk Management ◽  
Credit Risk ◽  
Management Practices ◽  
Banking Sector ◽  
Banking Industry ◽  
Credit Risk Management ◽  
Structured Interviews ◽  
Content Type ◽  
Credit Risks ◽  
Commercial Loans

Purpose – The study aims to assess credit risk management practices within financial institutions in Ghana. Specifically, the study compares credit risk management practices of listed banks in Ghana with Basel II (1999). Design/methodology/approach – The analysis is based on data gathered from varied sources, namely, use of questionnaires, analysis of internal credit policies and procedure manuals and semi-structured interviews and discussions with credit risk managers of the selected banks in May 2007 and October 2014. Findings – Overall, the credit risk management practices within listed banks in Ghana are in line with sound practices. The only dissimilarity, however, is the role of the board of directors in defining acceptable types of loans and maximum maturities for the various types of loans. The listed banks in Ghana are also exposed to credit risks associated with granting both corporate and small business commercial loans and the use of collaterals to mitigate their credit risk exposures. Practical implications – Banks in Ghana should consider developing the skills of all their personnel and appropriately motivating those involved in the credit risk management processes to ensure that they carry out this process efficiently. Originality/value – Research into credit risk management in the banking industry from the Ghanaian perspective remains scant. This study is, therefore, timely, and its findings are invaluable for the efficient management of credit risk in the banking industry. This study provides policy recommendations which will enhance shareholder value and, in this way, contribute to greater stability in the banking sector in developing countries, in particular.

Sharia’h practice at Islamic banks in Pakistan

2018 ◽  
Vol 9 (3) ◽  
pp. 274-289
Author(s):  
Muhammad Tariq Majeed ◽  
Abida Zainab
Keyword(s):  
Risk Sharing ◽  
Banking Sector ◽  
Islamic Law ◽  
Banking Industry ◽  
Supervisory Board ◽  
Primary Data ◽  
Equation Modeling ◽  
Islamic Banking ◽  
Islamic Banks ◽  
Content Type

PurposeIslamic banks provide an alternative financial system based on Sharia’h (Islamic law). However, critics argue that operation at Islamic banks is violating Sharia’h particularly in terms of provision of interest free services, risk sharing and legal contract. The purpose of this paper is to empirically evaluate the Sharia’h practice at Islamic banks in Pakistan by considering some basic principles of Sharia’h. Design/methodology/approachPrimary data are collected from 63 branches of Islamic banks in Pakistan. Questionnaire is used as an instrument. The study uses structural equation modeling that includes confirmatory factor analysis and regression analysis. Data are codified and analyzed using SPSS and Amos. FindingsThis study finds that Islamic banks are providing interest free services, ensuring that transactions and contracts offered by Islamic banks are legal and offering conflict-free environment to customers. In contrast, estimated results expose that Islamic banks are not sharing risk and Sharia’h supervisory board is not performing its role perfectly. Similarly, it is found that organization and distribution of zakat and qard-ul-hassan are weak at Islamic banks. Research limitations/implicationsData are collected from Islamabad federal capital of Pakistan that hold just 5 per cent share of Islamic banking industry. This small share may not provide true picture of Islamic banking sector. Practical implicationsTo ensure risk sharing, Islamic banking industry must consider the development of new modes of financing and innovation of more products based on Sharia’h. State Bank of Pakistan should ensure separate regulatory framework that enable Islamic banks to provide qard-ul-hassan, organize and allocate zakat. Originality/valueThis paper discusses the perception of bankers, who are actually the executors, about Shariah’s practices at Islamic banks in Pakistan. There are not many discussions on this topic that could be found, and hence this could be considered as a significant contribution by this paper to the existing literature of Islamic finance.

scholarly journals Fintech Waqaf: Solusi Permodalan Perusahaan Startup Wirausaha Muda

2019 ◽  
Vol 7 (2) ◽  
pp. 111
Author(s):  
Muhamad Nafik Hadi Ryandono
Keyword(s):  
Primary Data ◽  
Research Approach ◽  
Islamic Banks ◽  
Group Discussions ◽  
Start Up ◽  
Islamic Financial Institutions ◽  
Qualitative Descriptive ◽  
Expected Benefits ◽  
Start Ups ◽  
Financial Technology

Money waqaf in Indonesia has a huge potential. Despite the fact, this huge potential has not been organized and utilized optimally by the waqaf management agency. Another problem faced in waqaf money is the difficulties in integrate the system of funding, financing, mauquf alaih, and distribute the beneficiaries. In the present era, waqaf in Indonesia has not been digitalized and has not used the Financial Technology (FinTech) system, so it is less economically and inefficient. The expected benefits of the research are waqaf can be a solution to the capital problems that have been faced by start-up companies which mostly un-bankable. In other side, it hopefully can encourage Nadzir to be involved in growing and developing entrepreneurship for youth starting with establishing a start-up company. This research approach is qualitative descriptive. The data is primary data with data collection techniques namely focus group discussions and interviews. The objects of the research are 30 youth start-ups in Surabaya. The result of study is that money waqf can be an alternative solution of capital problems for youth start-up companies who are un-bankable. The Sharia Financial Technology (SFT) system is a system that capable of integrating nadzir with Islamic Financial Institutions Accep Cash Waqf (IFIACW), funding, financing, mauquf alaih, start-up investors, Islamic Financing Guarantee Institution (IFGI) and Islamic Banks.

scholarly journals Model of Agents-Based Branchless Banking Services Development in Urban and Rural Area

2020 ◽  
Vol 52 (1) ◽  
pp. 69
Author(s):  
Rini Rachmawati ◽  
Nur Muhammad Farda ◽  
Bowo Setiyono
Keyword(s):  
Rural Communities ◽  
Rural Areas ◽  
Urban Areas ◽  
Banking Sector ◽  
Primary Data ◽  
Information Communication ◽  
Structured Interviews ◽  
Banking Services ◽  
Internet Media ◽  
Measurement Of Coordinates

The banking sector has experienced a far leap related to Information Communication and Technology (ICT)-based services. Among them is e-banking that has been used by the community, especially in urban areas. Likewise, the use of ATMs can be used to provide banking services to the wider community, so that it can replace most of the functions of services in banks. However, in communities outside of urban areas such as rural communities there are still limitations in accessing e-banking and ATM services. Limited use of e-banking because this service must use internet media or smart phones to access. Meanwhile, the limited use of ATMs due to the availability of ATMs in rural areas is not as much as in urban areas, considering that rural areas are areas with low settlement densities. Today, banks in Indonesia have provided branchless banking by enabling agents. Branchless banking is found in urban, suburban and rural areas. In previous research, the existence of branchless banking in the form of agents and their utilization by customers has been identified. From previous studies, maps of agent and customer density and analysis related to the condition of regional accessibility have been produced. This research is a further study focusing on sub districts area with high agent density in both rural, suburban and urban areas. The purpose of this research is to analyze the development model of agent-based branchless banking services. Data was collected through primary data through observation, structured interviews and measurement of coordinates of the location of agents and banking services in the form of ATMs and Banks. The final result is expected to be used as a model for the development of branchless banking services in Indonesia. 

scholarly journals Assessment of CSR Practices in Nepalese Commercial Banks (A Comparative Study of RBBL, SCBL & NABIL)

2019 ◽  
Vol 22 (2) ◽  
pp. 11-20
Author(s):  
Kapil Khanal
Keyword(s):  
Financial Performance ◽  
Commercial Banks ◽  
Banking Sector ◽  
Secondary Data ◽  
Commercial Banking ◽  
Annual Reports ◽  
Primary Data ◽  
Secondary Source ◽  
Secondary Sources ◽  
Questionnaire Method

 Objective: To assess the corporate social responsibility practices in Nepalese commercial banking sector. Methods and Materials: Primary and secondary sources of data were used in the study. The primary data were collected through direct questionnaire method from 60 employees of sampled commercial banks. The secondary source was through journals, textbooks and annual reports of Nepal Rastra Bank. SPSS and Microsoft excel were used to analyze the collected data. The value of Cronbach’s Alpha (α) of overall questionnaire is 0.92, which suggests the reliability of primary data. Descriptive and explorative research designs were used to analyze the primary and secondary data. Results and Conclusion: Responses from all the respondents of commercial banks regarding CSR and Non-Financial Performance clearly imply that CSR has an influence on the Non-Financial Performance. In terms of ‘R2’, CSR impacts both Brand Image and Brand Awareness (i.e. 0.987). This clearly indicates that more than 98.7% variance of both non-financial performances has been explained by CSR. In terms of ‘R2’, CSR impacts less in financial performance (i.e. 0.149). This clearly indicates that only than 14.9% variance of financial performance has been explained by CSR.

scholarly journals Emerging Technology Innovation in Gaza Strip Municipalities: An Entrepreneurial Approach

2021 ◽  
Author(s):  
Ashraf AlAstal
Keyword(s):  
Open Innovation ◽  
Smart City ◽  
Gaza Strip ◽  
Primary Data ◽  
City Development ◽  
Structured Interviews ◽  
Public And Private ◽  
Entrepreneurial Behaviour ◽  
Growth Of Knowledge ◽  
Start Ups

Abstract To boost corporate efficiency in both the public and private sectors, innovation is fundamental. Efficient technological transfer and the role of public-private sector collaboration play a major role in the modern growth of knowledge-based economies. As a public service organization, municipalities normally coordinate with all partners to draw up strategies and use them in communities. A new vision is needed for the Gaza Strip municipalities, where all public and private stakeholders work together to co-design and co-develop new cutting-edge products and services aimed at generating shared value through entrepreneurial behaviour. However, concrete examples of smart city projects revealed that municipalities often do not have the necessary capabilities as well as innovative approaches to collaborate with start-ups and other stakeholders’ ecosystems. So, this paper aims at analyzing (open) innovation in the municipal sector shedding lights on the barriers and challenges that municipalities in Gaza Strip face in smart city development. This study uses primary data gathered from various stakeholders through focus groups, semi-structured interviews and webinars to demonstrate how municipalities can work to address challenges in the smart city context, and to promote an ecosystem of entrepreneurship and innovation. Gaza Strip municipalities need to offer the necessary conditions for entrepreneurial talents who can bring their creative mindset, and technological experiences to the table, making it possible to build the best teams to solve any challenge. The research also concluded that Open Innovation Platforms can be seen as an important tool for enabling start-ups and researchers in developing emerging technologies.

scholarly journals Financial Technology: Development of Innovative Fintech Start-Ups and Its Application in Banking System of Uzbekistan

2021 ◽  
Vol 8 (9) ◽  
pp. 214
Author(s):  
Shamsiddin Amanullaevich Allayarov ◽  
Maktuba Ravshanova
Keyword(s):  
Financial Stability ◽  
Banking Sector ◽  
Technology Development ◽  
Banking System ◽  
Industrial Sector ◽  
Economic Relations ◽  
Banking Market ◽  
Economic Growth Rates ◽  
Start Ups ◽  
Financial Technology

In the context of globalization, labor migration, trade and capital movements, tourism, foreign investment, IT are affected by the economic growth rates of countries. Periodic disclosure of reforms in the new Uzbekistan, the beginning of socio-economic relations provided opportunities for modernization, technical and technological re-equipment of the industrial sector. In particular, the need for financial technology in commercial banks is important to conduct research in this area. The influence of fintech is beginning to be felt in the banking sector and capital markets. This article surveys its development and its impact on efficiency, banking market structure, strategies of incumbents and entrants, and financial stability.

scholarly journals The Impact of Trust On E-Marketing And Customer Satisfaction In The Commercial Banks Of A Developing Country

2021 ◽  
Vol 58 (1) ◽  
pp. 2602-2614
Author(s):  
Ali Ismail Ali Algnaidi, Arun Kumar Tarofder, S. M. Ferdous Azam
Keyword(s):  
Customer Satisfaction ◽  
Consumer Satisfaction ◽  
Banking Sector ◽  
Banking Industry ◽  
Primary Data ◽  
Validity And Reliability ◽  
Spss Software ◽  
The Impact ◽  
The Relationship ◽  
Self Administered Questionnaire

The purpose of this paper is to determine, based on e-marketing, the customer satisfaction of Libya's banking industry. This is an empirical research designed using primary data gained by a well-structured questionnaire. After validity and reliability checking of a self-administered questionnaire using the SPSS software, the analysis was performed. The questionnaire was circulated in Misurata, Libya, to a sample of 350 bank customers. This paper provides a valuable contribution, as there are only a few studies dealing with the evaluation of e-marketing components in Libya's banking industry. The results have shown that the relationship between consumer satisfaction and e-marketing is significant here. Regression analysis found that all these factors positively impacted customer satisfaction in the Libyan banking sector based on three distinct independent variables (mobile phones, internet and credit cards). For bank management, which looks forward to innovative market models to gain customer satisfaction by trust-building, this study has huge implications.  

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