FinTech in Brazil

2021 ◽  
pp. 154-165
Author(s):  
Raphaela Godinho
Keyword(s):  
Financial Market ◽  
Financial Institutions ◽  
Business Models ◽  
Financial System ◽  
Competitive Market ◽  
Digital Platforms ◽  
Current Context ◽  
Start Ups

To accompany the development and advancement of new means of access and service, banks have sought the adoption of friendly and efficient digital platforms so that they can contain the advances of fintechs. The research approaches topics that are aligned, such as the current context of the economy, the National Financial System, and the scenario of start-ups in Brazil. It was also observed that there is a need to regulate the sector so that it can grow with more freedom and thus be able to add to the country this technological wealth, but it analyzes the need to be less bureaucratic like the financial institutions that operate in the market. The study allowed the authors to understand how large companies already established in the financial market identify fintechs and their business models, identifying opportunities, threats, and how this understanding permits the fintechs to prepare for a competitive market, and for large companies to understand how this model can be characterized as an ally.

Legitimacy building of digital platforms in the informal economy: evidence from Indonesia

2021 ◽  
Vol ahead-of-print (ahead-of-print) ◽  
Author(s):  
Eko Heru Prasetyo
Keyword(s):  
Informal Economy ◽  
Chief Executive Officers ◽  
Business Models ◽  
Chief Executive ◽  
Sharing Economy ◽  
Bottom Of The Pyramid ◽  
Content Type ◽  
Digital Platforms ◽  
Executive Officers ◽  
Start Ups

Purpose This study aims to investigate how digital entrepreneurs develop platforms business models under an unregulated market and what approach they take to address informal economy (IE) activities. Design/methodology/approach The author used a qualitative method by interviewing sixteen respondents, including founders, Chief Executive Officers, and managers of digital-driven start-ups in Indonesia. I then analysed the interviews into several codes and themes for further discussion. Findings This study reveals distinctive approaches performed by startups within three-level institutions, namely, users, market and regulation. Each level represents digital entrepreneurs’ unique behaviour, which the author described as collective, narrative and compliant. Research limitations/implications This paper demonstrates that digital entrepreneurs leveraging informal sectors contribute to the process of formalisation. However, the author emphasise less on how it impacts informality and who receives incentives. Practical implications This study suggests appropriate strategies for entrepreneurs who build and develop a platform beyond immature setting and unveils different directions to comprehend their legitimacy building. Social implications This study also elucidates political implications such as how the dynamics between regulators’ response and entrepreneurs’ reaction shape the new regulative environment. An idea of self-regulate – entrepreneurs as actors instead of a subject of regulation – might be suitable to reflect how they overcome the bottom of the pyramid using technology innovation. Originality/value While previous studies focused primarily on sharing economy, this study provides a different array of discussion on the digitalisation of the informal economy in emerging markets.

scholarly journals The Brazilian Financial System, Cyber Security Policy and Personal Data Protection

2020 ◽  
Vol 12 (2) ◽  
pp. 172-186
Author(s):  
Carlos Goettenauer
Keyword(s):  
Financial Institutions ◽  
Data Protection ◽  
Cyber Security ◽  
Security Policy ◽  
Business Models ◽  
Financial System ◽  
Regulatory Environment ◽  
Regulatory Regime ◽  
Legal Regime ◽  
The Creation

Purpose ”“ This work intends to map and analyze, through the polycentric regulation proposal introduced by Julia Black, the contribution of the actors involved in the creation of the data protection regulatory legal regime in financial system, after the introduction of the cyber security policy by the Central Bank of Brazil, the approval of the General Data Protection State and new financial business models. Methodology ”“ It first analyses the regulatory and statutory norms associated with data protection in the financial system, combined with the cyber security policies published by financial institutions. After this, it identifies the actors who contribute to the regulatory environment and their respective regulatory role. The final step is the creation of a table to categorize each actor’s functions in the regulatory regime. Findings ”“ The research concludes that the contracts between financial institutions and technology play a major role on creating and hybrid regulatory environment for data protection. Originality ”“ The work is an original analysis of the data protection regulatory legal regime in financial system, using polycentric regulation not only as a theoretical reference, but also as a methodological framework.

scholarly journals The Institutional Financial Market’s Infrastructure: Theoretical and Practical Aspects

2021 ◽  
Vol 25 (1) ◽  
pp. 130-135
Author(s):  
Natalia Sirenko ◽  
◽  
Olena Bodnar ◽  
Nataliia Shyshpanova ◽  
◽  
...  
Keyword(s):  
Financial Markets ◽  
Financial Market ◽  
Financial Institutions ◽  
Mixed Model ◽  
Financial System ◽  
Real Economy ◽  
Stage Of Development ◽  
Theoretical Approaches ◽  
Definition Of ◽  
Current Stage

Annotation. Introduction. The relevance of the study is conditioned to the significant influence of modern financial markets on the real economy and social development as a whole. Purpose. The purpose of the article is to generalize the theoretical provisions for determining the model of the financial market, highlighting the elements of the financial market infrastructure, analysis of the development of the domestic financial market. Results. We have done the characteristic of the current stage of the financial system’s and financial market’s development. Denotes the inhomogeneity of the existing theoretical approaches to the definition of a financial market and its structural classification, with emphasis on the importance of the institutional component. We have done the analysis of the different models (types) of the financial system and financial markets and the factors determining the use of these models in different countries. Background of selection of so-called mixed model of the financial system in Ukraine are systematized, when equal opportunities and rights, with no serious legislative restrictions and financial transactions are carried out banking and non-banking financial institutions. The current stage of development of the domestic financial market is characterized by a dominant share of universal banks, but the industry non-bank financial institutions has also received its development, which generally creates a competitive environment for all market participants. At the same time, certain non-bank credit institutions, recently appeared on the market and very dynamic, require special attention from the mega-regulator. Conclusions. In this regard, we have done the conclusion about the need to improve legislation in the field of financial markets and to ensure an acceptable level of control. Keywords: financial market; financial system; banking and non-banking financial institutions.

THE WORLD ECONOMY

2008 ◽  
Vol 206 ◽  
pp. 74-82
Author(s):  
Dawn Holland ◽  
Ray Barrell ◽  
Tatiana Fic ◽  
Sylvia Gottschalk ◽  
Ian Hurst ◽  
...  
Keyword(s):  
Financial Market ◽  
Financial Institutions ◽  
World Economy ◽  
Financial System ◽  
Bank Lending ◽  
The Past ◽  
The Us ◽  
The World ◽  
Global Financial System ◽  
Financial Market Crisis

Over the past few weeks, the global financial system has appeared on the brink of collapse, as mounting bank losses and a lack of banking liquidity have resulted in a wave of collapsing financial institutions across Europe and the US. While the immediate threat to the financial system appears to have been averted, the continuing deleveraging process, declining asset prices and heightened uncertainty regarding the viability of financial institutions have sharply reduced the willingness and ability of banks to lend to each other and to other borrowers, and at the same time reduced the willingness of borrowers to increase their levels of debt. As the events of recent weeks have unfolded, it has become increasingly clear that the fallout from the financial market crisis will continue to restrict bank lending severely for at least the next several months, pushing the world's major economies into recession. As a consequence, growth in the OECD economies next year is projected to be the weakest since 1982, with output forecast to rise by just 0.4 per cent.

scholarly journals ORGANIZATIONAL AND LEGAL REGULATION OF THE FINANCIAL SECTOR OF THE ECONOMY AMID EUROPEAN INTEGRATION

2019 ◽  
Vol 4 (5) ◽  
pp. 379
Author(s):  
Oleksii Fedotov ◽  
Svetlana Levchenko
Keyword(s):  
European Integration ◽  
Financial Market ◽  
Financial Institutions ◽  
Financial System ◽  
Financial Sector ◽  
Legal Regulation ◽  
Economic Security ◽  
State Regulation ◽  
The State ◽  
Market Potential

Financial sector development depends on the efficiency of its regulatory mechanisms that should correspond to the directions of implementation of state financial policy, which is aimed at the support for economic stability, protection of interests of participants in financial markets, and provision of rational use of growing financial market potential. Introduction of the mechanism of organisational and legal regulation is able to implement a complex approach to the application of various methods, means, other regulators on processes of effective formation and use of state financial resources in order to ensure their coordination and correspondence to strategic development priorities of the state. The purpose of the article is to substantiate features of organisational and legal regulation of the financial sector of the economy of EU countries and Ukraine, identify the main directions for reformation and recommendations for its improvement in the context of European integration trends and the possibility of securing competitive positions of Ukraine in the international market. The most widespread in the world are two models for regulating the financial sector’s activity – sectoral model and mega-regulator model. In the sectoral model, functions of public authorities are distributed according to three financial sectors (banking, insurance, stock). The model of mega-regulator determines the peculiarities of establishing a single authority endowed with functions of supervision and regulation of the financial sector. At the modern state of countries’ development, the main methods and forms of state regulation of the financial sector are determined by direct (development and adoption of laws and regulations, licensing of the activities, supervisory activities and implementation of measures of supervision of financial institutions) and indirect (changes in the volume of cash resources, securities issue, interest policy, provision of guarantees on fulfilment of obligations for securities of separate issuers, encouragement of foreign relations with international financial organisations) influence. Financial sector regulation in the EU and Ukraine is carried out according to the sectoral model where banking activities are subject to the Central Bank; activities in the market for securities are regulated by the National Securities and Stock Market Commission; activities of other financial intermediaries and financial companies are regulated by the National Commission for State Regulation of Financial Services Markets. Results of the research conducted allow determining the features of state regulation of the financial sector of the economy of Ukraine: the lack of legislative environment for regulating the financial status at the macrolevel and microlevel; provisions of the existing regulatory framework are aimed at the regulation of economic security; the absence of strategic benchmarks fixed in long-term documents for ensuring financial development of the country and the economic development of financial institutions; the presence of several regulators of the state of the financial system that duplicates functions and causes inefficient work; information closeness of regulators of financial market and financial system regarding the results of their work on ensuring the financial stability of the state. In order to improve rating positions and competitive advantages of Ukraine in global markets, it is necessary to develop additive legal framework and state support program for export-oriented enterprises for the promotion of export of finished products with high added value; start the policy of expansion on the basis of expansion of both geographical and commodity structure of exports.

scholarly journals Innovation and economic growth: evidence from financial institutional innovation

2017 ◽  
Vol 8 (2) ◽  
pp. 126
Author(s):  
Md Qamruzzaman
Keyword(s):  
Economic Growth ◽  
Financial Market ◽  
Financial Institutions ◽  
Financial Institution ◽  
Financial System ◽  
Capital Flow ◽  
Institutional Innovation ◽  
Market Development ◽  
Study Results ◽  
Financial Market Development

Innovation is the key to bringing changes in the traditional financial system. Innovation in the financial system being new financial products, hybrid financial institutions and new rules and regulations to reform existing financial system. Evolvement of financial institutions in the economy help economy in performing a financial function more effective and efficiently and such performance of financial institution promotes economic growth. The aim of the study to assess the relationship between institutional innovation and economic growth of Bangladesh over the period from 1991 to 2015. During this study, we employ the various econometric model to established association ship between institutional innovation and economic growth. Study results revealed that all the variables are stationary at level and after first difference all the variables become non-stationary. Test of Cointegration results revealed that innovation in the financial system through non-bank financial institutions and the financial market can contribute long run and CPI and spread rate can contribute in short run in the economic growth of Bangladesh. While Granger Causality Test revealed that Capital flow and GDP shows unidirectional causality but financial market development and GDP shows the Bidirectional causal relationship in the economy. It is also observed from causality analysis that capital flow and financial market development shows bidirectional causality, which indicated that innovation either in a financial institution or financial market can cause both variables and eventually influence on economic growth. So policymaker should consider the interrelationship between institutional innovation and economic growth while the formulation of economic policy because policy should expedite the development process in the financial system by making robust financial sector through encouraging financial innovation with banks, non-banks financial institution and capital market as well. Robust financial development can cause positively in overall economic growth in Bangladesh.

scholarly journals Strategic and tactical benchmarks for restructuring the financial system of Ukraine

2021 ◽  
Vol 20 (1) ◽  
pp. 11-22
Author(s):  
Serhiy Frolov ◽  
Volodymyr Orlov ◽  
Olha Lozynska ◽  
Fathi Shukairi
Keyword(s):  
Financial Institutions ◽  
Financial Literacy ◽  
Business Models ◽  
Service Providers ◽  
Financial System ◽  
Gradual Transition ◽  
Shadow Banking ◽  
Advantages And Disadvantages ◽  
Stage Of Development ◽  
The World

General trends of the current stage of development of the world and domestic economies confirm the most important trends of financial systems of the leading countries, including Ukraine. Among them, it is advisable to highlight the following: financial inclusion, formation of an unassailable reputation by financial institutions, reducing the volume of shadow banking, increasing the level of the population’s financial literacy, developing financial technologies, and deepening the financial system. All of this involves increasing the size of financial assets in relation to the size of the economy based on the GDP indicator. Based on the results of generalizing the approaches of scientists to the list of determining factors affecting the development of the country’s financial system, the key role of the level of financial literacy of the population was established. The article presents the total index of financial literacy of the population of individual countries of Europe and the world based on the index components. The development of the financial system in all these areas creates conditions for a gradual transition to the development of a new quality financial ecosystem. The article proposes a definition of the financial ecosystem in the context of established hybrid of real and digital space based on the integration of financial institutions as key players with technology companies, public service providers and other participants. To ensure development, the advantages and disadvantages are specified based on the results of the SWOT analysis, which allowed to systematize the strengths and weaknesses, as well as the opportunities and threats of the financial ecosystem development. Based on the results of the analysis, four basic strategies for restructuring the financial system were developed, which are the basis for proposals for the development of the financial ecosystem and changing the business models of functioning of its subjects in Ukraine.

scholarly journals ACTIVITY OF INTERNATIONAL FINANCIAL INSTITUTES AND THEIR PARTICIPANTS OF THEIR RELATIONS WITH UKRAINE

2019 ◽  
Keyword(s):  
International Monetary Fund ◽  
Financial Market ◽  
Financial Institutions ◽  
Technical Assistance ◽  
Financial Institution ◽  
Financial System ◽  
International Financial Institutions ◽  
The World ◽  
The International Monetary Fund ◽  
The Imf

The article deals with the peculiarities of the activities of international financial institutions and their relationship with Ukraine in modern conditions. The main goals and directions of the activities of key international financial institutions, such as the International Monetary Fund, the World Bank, are specified. It is noted that in the context of globalization their role and significance grows, because they are supranational regulators that affect financial security of both the individual countries of the world and security of the world financial market as a whole. The main reasons for the emergence of international financial institutions and the basic goals of their activities are systematized. The International Monetary Fund is the main international financial institution, which is the institutional basis of the world monetary and financial system. The IMF assesses the sufficiency of the global financial protection system, provides economic supervision and control over the safe operation of the global monetary and financial system, and should respond to emerging problems and imbalances in a timely manner, providing the necessary funding and technical assistance to countries under the approved arrangements. The analysis of the statistics on loans provided by the IMF within various lending mechanisms, the analysis of the state of the world 's debts to the IMF in the context of its privileged and non – beneficial loans, the peculiarities of the IBRD' s relations with the member countries are analyzed and there are identified current trends in this direction. The key problems and challenges in the work of international financial institutions are formulated and prospective ways of their development are defined, the use of which will promote both optimization of their activities and strengthening the security of the world financial market.

scholarly journals Banking ecosystems and marketplaces: digitalization trends

2021 ◽  
Vol 16 (6) ◽  
pp. 132-138
Author(s):  
L. V. Prigoda ◽  
M. V. Alikaeva ◽  
Z. Cekerevac
Keyword(s):  
Artificial Intelligence ◽  
Development Strategy ◽  
Financial Market ◽  
Financial Institutions ◽  
Financial Services ◽  
Systems Approach ◽  
Human Life ◽  
Integrated Approach ◽  
Digital Platforms ◽  
The Creation

The article considers peculiarities of the activities of the main participants in the financial market, in particular banking in the context of digitalization and the introduction of artificial intelligence tools. At present, artificial intelligence (AI) technologies have a significant impact on human life, both in the process of instant transfers and in conversational interfaces. This affects the financial services sector, and its members are the most active in introducing disruptive AI innovations. Therefore, in order to increase the level of competitiveness, modern banks should act as locomotives in addressing issues of implementation, use of digital technologies and acceleration of methods of remote work. The COVID-19 pandemic has made its own adjustments to the concept of interaction of financial institutions with customers, for most of whom remote services have become an integral part of everyday life. The increasing demand for telecommuting services of financial institutions stimulates the creation of digital platforms that take into account both the processes of global digitalization and the changed demands of consumers in the context of a pandemic. This article provides an analytical overview of trends, obstacles and prospects for the integration of financial ecosystems and marketplaces in the Russian market. The necessity of using an integrated approach in developing the rules for the functioning of financial ecosystems in the formation of an adequate development strategy, which will ensure the creation of a fair competitive environment in the financial market, has been substantiated. The aim of the research is to identify the main trends and patterns in the financial services market, as well as to determine the vector for further development of financial ecosystems formed using artificial intelligence tools. To achieve this goal such general scientific methods as theoretical generalization, analysis and synthesis, comparative analysis, systems approach, etc. have been used.

scholarly journals The impact of Digital Platforms on Business Models: an empirical investigation on innovative start-ups

2018 ◽  
Vol 13 (4) ◽  
pp. 1210-1225 ◽  
Author(s):  
Roberto Ruggieri ◽  
Marco Savastano ◽  
Alessandra Scalingi ◽  
Dorina Bala ◽  
Fabrizio D’Ascenzo
Keyword(s):  
Business Models ◽  
Multiple Case Study ◽  
Marketing Manager ◽  
Interview Protocol ◽  
Digital Platforms ◽  
Multiple Case ◽  
Start Ups ◽  
The Impact ◽  
Number Of Customers

Abstract Digital platforms have the ability to connect people, organizations and resources with the aim of facilitating the core interactions between businesses and consumers as well as assuring a greater efficiency for the business management. New business concepts, such as innovative start-ups, are therefore created based on innovation, scalability and the relationships within the community around them. The purpose of this work is to deeply understand the evolution of business models brought by innovative and dynamic companies operating through online platforms. In order to achieve the objectives set, an exploratory multiple-case study was designed based on in-depth structured interviews. The aim was to conduct a mixed analysis, in order to rely both on qualitative and quantitative data. The structured interview protocol was therefore designed to collect and then analyse data concerning the company profile and managers’ perspectives on the phenomenon of interest. The interview protocol was submitted in advance and then face-to-face interviews were carried out with the following professional figures: Chief Executive Officer (CEO), General Manager, Chief Technology Officer (CTO), Marketing Manager and Developers. Collected data were analysed and processed through the Canvas Business Model in order to clearly outline similarities and differences among the sample. Results can be considered under two viewpoints. On the one hand, this work provides a detailed overview of the companies interviewed, according to the dimensions of: reference market dynamics, type and number of customers, scalability. On the other one, they allow to identify some success patterns regarding key activities, key resources, channel mix strategy, costs management, value proposition, customer segmentation, key partners and the way to obtain revenues. Results from the multiple-case study with 15 Italian start-ups provide interesting insights by comparing the innovative business models developed and highlighting key differences and similarities. Overall, the start-ups analyzed, operating in several sectors, showed great growth prospects and the possibility to create value for their customers through innovative products and services offered through digital platforms.

Sign in / Sign up

Export Citation Format

Share Document