scholarly journals Regulating Financial Services in an Era of Technological Disruption

2020 ◽  
Vol 36 (2) ◽  
pp. 1-24
Author(s):  
Louis De Koker ◽  
Nicholas Morris ◽  
Sue Jaffer
Keyword(s):  
Financial Services ◽  
Business Models ◽  
Controlled Environment ◽  
Innovative Products ◽  
New Business ◽  
Vehicles Emissions ◽  
Financial Regulatory ◽  
New Business Models ◽  
Financial Technology ◽  
Regulatory Challenges

Financial regulators are challenged to respond to the innovation opportunities presented by financial technology (fintech). Current rules are not necessarily sufficient or effective to adequately regulate new business models and new products relating to innovations such as crypto assets or digital financial services. Regulators that fail to respond in a timely manner may drive innovation offshore and deprive their markets and consumers of appropriate, new services. To respond to new financial innovation, regulators have been establishing innovation hubs and regulatory sandboxes. Innovation hubs enable them to engage innovators more effectively. Sandboxes allow the products to be tested in a controlled environment and enable to regulator to consider whether existing laws are appropriate to regulate such products and, of not, what measures may be required. Sandboxes are however resource intensive and they hold a number of risks. Financial regulators are, of course, not alone in having to address the regulatory challenges of innovation. This article therefore also considers other non-financial regulatory experiences of innovative products and services, namely automated vehicles; emissions trading in China; and Uber and its clones, to consider whether those experiences hold lessons for financial regulators.

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.

Fintech Challenges and Outlook in India

2021 ◽  
pp. 136-153
Author(s):  
Neeta Baporikar
Keyword(s):  
Literature Review ◽  
Financial Services ◽  
Business Models ◽  
The Novel ◽  
Foreign Markets ◽  
Indian Economy ◽  
Exploratory Approach ◽  
New Business ◽  
Start Ups ◽  
New Business Models

Fintech refers to the novel processes and products that become available for financial services due to the digital technological advancements. Fintech includes technologically enabled financial innovation leading to new business models, applications, processes, or products with an associated material effect on financial markets, institutions, and financial services. India is transitioning into a dynamic ecosystem offering Fintech start-ups a platform to grow into billion-dollar unicorns. From tapping new segments to exploring foreign markets, Fintech in India is pursuing multiple targets. The traditionally cash-driven Indian economy has responded well to the Fintech opportunity, primarily triggered by a surge in e-commerce, and Smartphone penetration. However, India's growth is still not comparable in scale to its global counterparts but is stacked well, due to a strong talent pipeline of the tech workforce. Hence, adopting an exploratory approach, based on in-depth literature review, the chapter aims to identify the challenges and deliberate on the outlook for Fintech in India.

scholarly journals New Disruptive Models for the Telecommunications Operators in the New Digital Arena

2019 ◽  
Vol 11 (1) ◽  
pp. 101-118
Author(s):  
Christian James Aguilar Armenta
Keyword(s):  
Detailed Analysis ◽  
Value Chain ◽  
Business Models ◽  
Current Status ◽  
Economic Competition ◽  
Digital Ecosystem ◽  
New Business ◽  
New Business Models ◽  
Regulatory Challenges ◽  
Regulatory Impacts

Purpose – We know that the new digital ecosystem brings with it the emergence of new services in telecommunications, which in turn entails opportunities and challenges for both operators and regulators. It is essential to know its current status, in order to understand and try to predict the role played by operators in the value chain of new business models, the types of interaction they will have with other stakeholders, as well as the possible regulatory impacts. Methodology/approach/design – To contribute to this end, in this article we present a review of newly created business models, in which operators are the main actors. Findings – After a detailed analysis of the most relevant cases, we present the regulatory challenges they represent today, as well as their potential implications in terms of economic competition.

scholarly journals SHAPING OF ORGANIZATIONAL RESILIENCE IN AN UNSTABLE WORLD: POSSIBILITY OR NECESSITY?

2016 ◽  
Vol 11 (2) ◽  
pp. 68-70 ◽  
Author(s):  
Iwona Gorzeń-Mitka
Keyword(s):  
Supply Chain ◽  
Business Models ◽  
Modern World ◽  
Organizational Resilience ◽  
Organizational Efficiency ◽  
Trade Offs ◽  
Innovative Products ◽  
New Business ◽  
Key Participants ◽  
New Business Models

Increased complexity of economic, social and technological systems cause that crises, uncertainty and risk have become an integral part of modern world. Undoubtedly, today’s organizations face the necessity of dealing with a growing number of various risk factors-generators: disasters, sudden bankruptcies of key participants of supply chain, loss of reputation, highly innovative products/technologies entering the market or risk resulting from introducing new legal regulations (Gorzeń-Mitka, 2015). Thus, U.Beck’s statement that the 21st century can be described as the century of risk seems right (Beck, 2009).Operation of companies in the current environment requires effective trade-offs among economic, environmental and social outcomes while maintaining the longevity of organizational efficiency (Eltantawy, 2016). For example, Maslaric et al. (2013) indicate that, modern trends in new business models, which assume a strive for continuous improvement in efficiency by cutting costs and reducing waste in every supply chain processes, create a new risk perspective. In this situation, striving to achieve balance between organizational efficiency and organizational resilience is more than a necessity. This has caused seeking for new approaches to protect value and results of our activities. One of them is creation of resilience. According Oxford Advanced Learner's Dictionary word "resilience" has two meanings: the ability of people or things to feel better quickly after something unpleasant and the ability of a substance to return to its original shape after it has been bent, stretched or (Oxford Advanced Learner's Dictionary, 2016).

Methods of Published Articles on Digital Economy

2020 ◽  
pp. 213-233
Author(s):  
Luciana Aparecida Barbieri da Rosa ◽  
Maria Carolina Martins-Rodrigues ◽  
Tais Pentiado Godoy ◽  
Waleska Yone Yamakawa Zavatti Campos ◽  
Larissa Cristina Barbieri
Keyword(s):  
International Research ◽  
Business Models ◽  
Web Of Science ◽  
Science Research ◽  
Digital Economy ◽  
The World ◽  
Innovative Products ◽  
New Business ◽  
Global Companies ◽  
New Business Models

The digital economy is changing the way business is done and is showing tremendous potential for organisational progress and global influence.As innovative products and service offerings make the world more competitive,if created properly, digital connectivity will be able to provide new business models and faster entries into global markets (Anderson, Wladawsky-Berger,2016).This gives rise to important issues pertaining to consolidation of practices, implementation of relevant issues across global companies, and many more. Appropriate answers can be searched for these questions in the international research databases on the digital economy like Scopus and Web of Science. Research contributions of authors demonstrating scientific completeness are of great important here. Also important are databases that have been adequately cited.

Blockchain Technology and New Business Models for Banks in the Financial Services Industry

2021 ◽  
pp. 1-38
Author(s):  
Vincent Sabourin ◽  
Mike Cyrille Aka-Brou
Keyword(s):  
Business Model ◽  
Financial Services ◽  
Business Models ◽  
Banking Industry ◽  
Disruptive Innovation ◽  
Strategic Intent ◽  
Blockchain Technology ◽  
International Banks ◽  
New Business ◽  
New Business Models

In recent years, the financial technology of blockchain has become a disruptive innovation that is transforming the management of banks. If blockchain represents an opportunity for financial services, it also represents a severe threat of financial disintermediation. What are the business models available to banks when deploying a business model to integrate the blockchain technology? In this chapter, the authors surveyed the strategic intent of 45 international banks for blockchain technology and analyzed the different business models that might facilitate a management transformation for the banking industry. They developed a taxonomy of five different business models. They were labeled as the following: the coordinators, the integrators, the solution providers, the disrupters, and the explorers.

scholarly journals IMPACT OF FINANCIAL TECHNOLOGY IN INDIA ON BANKING SECTOR

2020 ◽  
pp. 44-50
Author(s):  
Mrs.G.Yasmin ◽  
M.A.S. Raja Mohammed
Keyword(s):  
Financial Services ◽  
Business Models ◽  
Banking Sector ◽  
Financial Industry ◽  
Middle Income ◽  
Technology Sector ◽  
New Business ◽  
City Of London ◽  
The Impact ◽  
Financial Technology

Technology has, to some degree, always been part of the financial world. The term fintech refers to the synergy between finance and technology, which is used to enhance business operations and delivery of financial services. Financial technology is the application of new technological advancements to products and services in the financial industry. It includes B2C (Business to Client), Crowdfunding Platforms, Block chain and Cryptocurrency, Mobile Payments, Insurance, Robo-Advising, Stock-Trading Apps, Budgeting Apps, Fintech Stocks. Fintech market in India is likely to expand to $31 billion in 2020," India is a dominant force in the financial technology sector globally with 29 per cent annual returns on investments, a report released by the City of London Corporation. The study is important to analyse the impact of fintech in banking sector through analyzing its performance and growth pattern. Implementation of new business models driven by technologies such as Artificial Intelligence and Machine Learning Wide middle-class expansion by 2030, India will add 140 million middle-income and 21 million high-income households which will drive the demand and growth on the Indian Fin Tech space. KEY WORDS: Fintech, Financial services, banking sector, India, technology

Biotechnology lessons for robotics: Adapting new business models to accelerate innovation

2014 ◽  
Vol 20 (4) ◽  
Author(s):  
Arthur Boni ◽  
Christopher Moehle
Keyword(s):  
High Risk ◽  
Business Models ◽  
Product Market ◽  
Innovative Products ◽  
New Business ◽  
New Business Models

Abstract – The robotics industry is achieving a level of commercial maturity as evidenced by innovative products brought to market, and by the increasing pace of emerging robotics companies being acquired by larger players in a diversity of industries. However, there are challenges with accelerating the rate and scale of innovation in this industry. Our hypothesis is that while there are remaining technological challenges, the largest challenge is for the industry to adapt by exploitation of business models that focus more intently on validating product/market fit, building teams to span seamlessly from laboratory to market, and on developing creative structure and vehicles to provide the needed resources to commercialize.  To this end, we suggest that the robotics field could adapt approaches from the emerging “business model playbook” that are now being used in the field of biotechnology.  These industries do compare somewhat in that they are each technologically driven, have long, high- risk development cycles, and have the need for high levels of capital, compared to the software industry.  In this paper we review what has been accomplished in biotechnology, and also suggest how these lessons could be implemented in the field of robotics. 

DIGITAL ECONOMY AND GLOBALIZATION: THE IMPORTANCE OF DIGITAL ENTREPRENEURSHIP DEVELOPMENT

2020 ◽  
Vol 6 (3) ◽  
pp. 17-20
Author(s):  
Farxod Tursunov ◽  
Keyword(s):  
Business Models ◽  
Digital Economy ◽  
Management Systems ◽  
Entrepreneurship Development ◽  
New Business ◽  
Definition Of ◽  
Digital Enterprise ◽  
New Business Models ◽  
Digital Entrepreneurship

The article discusses the role of the digital economy in the development of the country, how it becomes the basis of the economy, new business models and management systems. The opinion of scientistsis analyzed, a definition of a digital enterprise is given

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