scholarly journals Creative Destruction – An Inevitable Reality for the Financial Services Sector in Zambia?

2021 ◽  
Vol 04 (12) ◽  
Author(s):  
Billy Kaombe ◽  
Keyword(s):  
Financial Services ◽  
Null Hypothesis ◽  
Linear Regression Analysis ◽  
Secondary Data ◽  
Mobile Network ◽  
Disruptive Innovation ◽  
Banking Services ◽  
Mobile Money ◽  
Services Sector ◽  
Financial Services Sector

The financial services sector in Zambia has become increasingly exposed to the ever-growing challenges posed by mobile network operators (MNOs). The introduction of mobile money by MNOs has witnessed increased usage of mobile money services. During the same period, there has been a noticeable decline in the usage of digital banking services. The research study therefore sought to establish whether there was a correlation between increased usage of mobile money services and usage of digital banking services in Zambia. The study was quantitative in nature and was based on secondary data sources. Data from 19 of the 21 digital financial services providers in Zambia were analysed using times series trend analysis and simple linear regression analysis. In order to establish whether a correlation existed between increased usage of mobile money services and usage of digital banking services in Zambia, a t- test was conducted. This acted as a guide to the decision as to whether or not to accept or reject the null hypothesis. The study failed to reject the null hypothesis and therefore concluded that no correlation existed between increased usage of mobile money services and usage of digital banking services. However, the study expounded the research results in terms of Schumpeter, Christensen and Foster’s ideas on disruptive innovation.

Protection of Customers for Management of Digital Banking Services (Study at PT. BRI Unit Boyolali)

2020 ◽  
Vol 3 (2) ◽  
pp. 170
Author(s):  
Herdian Ayu Andreana Beru Tarigan ◽  
Darminto Hartono Paulus
Keyword(s):  
Information Technology ◽  
Financial Services ◽  
Banking Industry ◽  
Service Innovation ◽  
Quality Of Services ◽  
Legal Research ◽  
Banking Services ◽  
Services Sector ◽  
Financial Services Sector

<p>Increasing competition in the Indonesian banking industry has encouraged many banks to improve the quality of services to customers by utilizing information technology developments. Service innovation in the use of information technology encourages banks to enter the era of digital banking services. However, the development of digital banking services also increases the risks faced by banks. The purpose of this study is to provide an overview of the implementation of digital banking services and customer protection for risks from digital banking services. The method used in this study is an empirical legal research method. The results of this study indicate that the implementation of digital banking services is regulated by OJK Regulation No.12/POJK.03/2018. The existence of this OJK Regulation is expected by banks as providers of digital banking services to always prioritize risk management in the use of information technology. In addition, this study also shows the existence of 2 types of customer protection for the use of digital banking services, namely preventive protection in the form of legislation related to customer protection in the financial services sector and repressive protection in the form of bank accountability for complaints from customers using digital banking services.</p>

scholarly journals Settling Inconsistencies Associated with The Genesis of The Financial Services Authority Act

2017 ◽  
Vol 2 (1) ◽  
pp. 36-41
Author(s):  
Theresia Anita Christiani ◽  
Maria Hutapea
Keyword(s):  
Financial Services ◽  
Secondary Data ◽  
Jel Classification ◽  
Financial Service ◽  
Financial Service Authority ◽  
Legal Principles ◽  
Services Sector ◽  
Financial Services Sector ◽  
Legal Principle ◽  
The One

Objective - The FSA Act the establishment of which is mandated by Article 34 of Law No. 23 of 1999 concerning the Bank of Indonesia, was enacted on 22 November 2011. This Act, together with Law No. 3 of 2004, regulates and supervises Indonesia's integrated financial services sector. This article reveals the existence of inconsistencies between the legal terms underlying the establishment of the FSA one the one hand, and the provisions contained in the Financial Service Authority itself, on the other. These inconsistencies also become evident in the light of the 1945 Constitution which facilitated the establishment of the Bank of Indonesia Law. The purpose of this article is to ascertain a method of resolving these inconsistencies associated with the genesis of the Financial Service Authority. Methodology/Technique - The research method used in this article is doctrinal in nature that uses secondary data and information sources as material to analyse the relevant problems. Findings - The research has revealed that the most appropriate method of settling these inconsistencies requires a consideration of the express wording of the FSA. Novelty - This article indicates the need to apply legal principles rather and adjudicatory methods. Type of Paper: Review Keywords: Settlement; Banking; Legal; Principle; Law. JEL Classification: J21, J28, K23.

Financial Technology Implications

2020 ◽  
pp. 34-62
Author(s):  
Arjun R. ◽  
Nishmitha N. ◽  
Suprabha K. R.
Keyword(s):  
Financial Services ◽  
Secondary Data ◽  
Financial Systems ◽  
Services Sector ◽  
Financial Services Sector ◽  
Technology Industry ◽  
Industry Survey ◽  
Start Ups ◽  
Industry Experience ◽  
Financial Technology

The chapter examines the particularities of the financial technology industry and explores how FinTech is defined and how the financial technology solutions can be implemented by companies and categorized. Financial technology companies are generally start-ups founded with the purpose of disrupting financial systems and corporations that rely less on software. But Fintech is not confined to start-ups only. Fintech comprises a vessel of technical aspects that describes an emerging financial services sector in the 21st century. The chapter aims to provide key insights into the evolution of the FinTech sector in emerging markets like ASEAN and India by and industry experience in this area. Both industry survey reports and peer-reviewed research is used as secondary data. The critical challenges to be addressed at the policy level, regional differences and future implications are being discussed thereby creating bridges the FinTech in ASEAN context to create a coherent framework.

scholarly journals Cyclical Fluctuations in the Banking Services Market and the Changes in the Situation of Entities from the Financial Services Sector

2019 ◽  
Vol 5 (52) ◽  
pp. 118-129
Author(s):  
Robert Skikiewicz ◽  
Józef Garczarczyk
Keyword(s):  
Financial Services ◽  
Cross Correlation ◽  
Banking Sector ◽  
Time Range ◽  
Banking Services ◽  
Services Sector ◽  
Financial Services Sector ◽  
Cyclical Fluctuations ◽  
Banking Market ◽  
Cross Correlation Analysis

Abstract Section K of the services sector includes entities conducting financial and insurance activities and, among others, banks. Fluctuations in the whole economy and its individual sectors’ situation are interrelated; hence, one may also expect similarities of cyclical fluctuations in the banking sector and in the entire financial sector. The analyses in the article concern the connections between the cyclical fluctuations on the banking services market and in the entire K section of the services sector, grouping entities conducting financial and insurance activities in Poland. The analyses proved that changes in the economic situation appear earlier in the banking sector than in section K of the services sector. The time range of analyses covered the period from the first quarter of 2003 to the first quarter of 2018. Conclusions on relationships were formulated on the basis of cross-correlation analysis and the analysis of the turning points in the time series of variables describing the cyclical fluctuations in the banking market and in the K section of the services sector.

Financial Technology Implications

2021 ◽  
pp. 239-260
Author(s):  
Arjun R. ◽  
Nishmitha N. ◽  
Suprabha K. R.
Keyword(s):  
Financial Services ◽  
Secondary Data ◽  
Financial Systems ◽  
Services Sector ◽  
Financial Services Sector ◽  
Technology Industry ◽  
Industry Survey ◽  
Start Ups ◽  
Industry Experience ◽  
Financial Technology

The chapter examines the particularities of the financial technology industry and explores how FinTech is defined and how the financial technology solutions can be implemented by companies and categorized. Financial technology companies are generally start-ups founded with the purpose of disrupting financial systems and corporations that rely less on software. But Fintech is not confined to start-ups only. Fintech comprises a vessel of technical aspects that describes an emerging financial services sector in the 21st century. The chapter aims to provide key insights into the evolution of the FinTech sector in emerging markets like ASEAN and India by and industry experience in this area. Both industry survey reports and peer-reviewed research is used as secondary data. The critical challenges to be addressed at the policy level, regional differences and future implications are being discussed thereby creating bridges the FinTech in ASEAN context to create a coherent framework.

scholarly journals EFFECT OF MOBILE MONEY SERVICES ON KENYA’S FINANCIAL INCLUSION

2019 ◽  
Vol 4 (2) ◽  
pp. 1
Author(s):  
Vincent Wakaba ◽  
Dr. Joshua Matanda Wepukhulu
Keyword(s):  
Financial Services ◽  
Social Scientist ◽  
Secondary Data ◽  
Target Population ◽  
Financial Inclusion ◽  
Unique Contribution ◽  
Banking Services ◽  
Mobile Money ◽  
Review Period ◽  
Statistical Approaches

Purpose: The main objective was to determine the effect of Key mobile money services on financial inclusion in Kenya. Materials and Methods: The study adopted a census research design. The target population was limited to the 4 firms (Safaricom, Airtel, Equity and Telkom) providing mobile money services in Kenya.  The study relied on secondary data. The study review period was between 2013 and 2018. Descriptive statistical approaches, regression and correlation analysis was used to analyze secondary data. Data was analyzed quantitatively by use of SPSS (Statistical Package for Social Scientist) V21 program. Results: The study established that the Mobile money deposit services, Mobile money saving services, Agency banking services and Mobile bill payment services positively and significantly affected Kenya’s financial inclusion. Unique contribution to theory, practice and policy: The study recommends that the providers of mobile money services should increase accessibility of these services to citizens since their continued usage leads to positive and significant growth of Kenya’s financial inclusion. The providers can achieve this by encouraging many citizens to be their agents in offering the services. Availability of many agents acting on behalf of the mother company in various parts of the country increases the levels of access of the financial services. Key words: Deposit Services, Saving Services, Agency Banking Services, Mobile Money Financial Inclusion

scholarly journals New Generation Banks' Promotion Strategies for Banking Services

2010 ◽  
Vol 9 (2) ◽  
pp. 59-72
Author(s):  
Joseph Sebastian Thekedam
Keyword(s):  
Financial Services ◽  
Banking Sector ◽  
Service Industry ◽  
The Other ◽  
Marketing Management ◽  
Banking Services ◽  
Services Sector ◽  
Financial Services Sector ◽  
Promotion Strategies ◽  
New Generation

One of the sectors within the service industry that has been influenced the most by the changes in the globalization process, and at the same time has been highly internationalized, is the banking sector. With the growing importance of the financial sector, pressures are escalating for more effective marketing management of the financial services. Despite the recent recessions, the financial services sector is continuing to grow in terms of turnover and profits and thus, has a supreme impact on the other spheres of the economy.

Crowdfunding y el financiamiento de pyme en Colombia

2017 ◽  
Vol 7 (12) ◽  
pp. 47
Author(s):  
Humbolth Antonio Pesca Gómez
Keyword(s):  
Business Model ◽  
Web Sites ◽  
Financial Services ◽  
Business Models ◽  
Banking Services ◽  
Services Sector ◽  
Financial Services Sector ◽  
The World ◽  
New Business ◽  
Technological Platforms

La financiación colectiva, alternativa o crowdfunding se ha catalogado como un fenómeno tecnológico, social y de emprendimiento, de muy rápido crecimiento en el sector de los servicios financieros y se proyecta como una alternativa a los servicios bancarios ofrecidos por la banca tradicional. Uno de los aspectos más destacables de este modelo financiero alternativo crowdfunding, es que es innovador, tanto en términos de modelos de negocio y de plataformas tecnológicas. Estos modelos operan exclusivamente en línea, en sitios web y se han diseñado de acuerdo a las necesidades del cliente y del inversor. Es una forma de respuesta a la coyuntura económica que sevive en el mundo, representada en el recorte de las fuentes de financiamiento a las Pyme, presentándose como una excelente alternativa en la obtención de recursos para el financiamiento de sus proyectos. Con este trabajo se busca entender el potencial de los modelos crowdfunding, como vehículo de financiación necesario para las Pyme.ABSTRACTThe collective, alternative financing or crowdfunding has been catalogued as atechnological, social and entrepreneurial phenomenon of very rapid growth in the financial services sector and is projected as an alternative to the banking services offered by traditional banks. One of the most outstanding aspects of this alternative business crowdfunding model is that it is innovative, both in terms of technological platforms and business models. These models operate exclusively online, on web sites and have been designed according to the needs of customer and investor. This new business model is a form of response to the economic situation that exists in the world, represented in cutting sources of financing to SMEs, presenting itself as an excellent alternative in obtaining resources to finance their projects. This work seeks tounderstand the potential of models crowdfunding, as a vehicle for financing necessary for SMEs. Fecha de recepción: 12 de septiembre de 2016Fecha de aprobación: 16 de noviembre de 2016Fecha de publicación: 6 de enero de 2017 

scholarly journals EFFECT OF MERGERS AND ACQUISITIONS STRATEGIES ON FINANCIAL PERFORMANCE OF FINANCIAL SERVICES SECTOR

2017 ◽  
Vol 1 (1) ◽  
pp. 18
Author(s):  
Dr. Agnes Ogada ◽  
Dr. George Achoki ◽  
Dr. Amos Njuguna
Keyword(s):  
Mergers And Acquisitions ◽  
Financial Performance ◽  
Significant Relationship ◽  
Financial Services ◽  
Panel Data Analysis ◽  
Descriptive Analysis ◽  
Secondary Data ◽  
Primary Data ◽  
Services Sector ◽  
Financial Services Sector

 Purpose: The purpose of this study was to establish the effect of mergers and acquisitions strategies on financial performance of firms in the financial services sector in Kenya.Methodology: The study adopted a mixed methodology research design. The study population included all the 51 merged financial service institutions in Kenya. Purposive sampling was used. Primary data was obtained from questionnaires and a secondary data collection template was also used. The researcher used quantitative techniques in analyzing the data. Descriptive analysis for the study included the use of means, frequencies and percentages.  Inferential statistics such as correlation analysis was also used. Panel data analysis was also applied. Further, a pre and post merger analysis was used.Results: Cost efficiency was found to have a positive and significant effect on financial performance of merged institutions. Diversification had no significant effect on financial performance of merged institutions. Synergy had a significant relationship with financial performance of merged institutions. Board size had a significant relationship with financial performance of merged institution and there was a significant relationship between the moderating effect of economic growth and financial performance of merged institutions.Unique Contribution to Theory, Practice and Policy: The study recommended that policy makers (government) should be able to create or promote the enabling environment for facilitating mergers and acquisitions that concerns infrastructure provision, as a way of achieving cost reduction that could motivate similar mergers in other institutions in Kenya, stakeholders are to identify where their most immense profit pools lie and focus on improving those units responsible for them, the management of the financial services institutions should embrace diversification and financial innovation on product strategies as this will help in generating more income for the banks.

scholarly journals THE WEAKNESSES OF ALTERNATIVE INSTITUTIONS FOR DISPUTE RESOLUTION IN FINANCIAL SERVICES SECTOR

2021 ◽  
Vol 5 (2) ◽  
pp. 200
Author(s):  
Theresia Anita Christiani ◽  
Chryssantus Kastowo
Keyword(s):  
System Theory ◽  
Dispute Resolution ◽  
Financial Services ◽  
Alternative Dispute Resolution ◽  
Secondary Data ◽  
Legal Culture ◽  
Primary Data ◽  
Services Sector ◽  
Financial Services Sector ◽  
Settlement Of Disputes

There are weaknesses in the Financial Services Authority issued POJK No. 61/POJK/2020 concerning Alternative Dispute Resolution in the financial services sector. It hampered the objectives of the regulation. A concept proposal is needed to overcome the existing weaknesses. This research uses normative juridical analysis.  This research dose on the laws and regulations that apply in Indonesia relating to the settlement of disputes in the financial services sector. This study finds a proposed concept to overcome the weaknesses of Alternative Dispute Resolution in the financial services sector. The proposed idea empowers legal culture, legal substance, and legal culture as legal system theory. This research is limited to study based on secondary data, so there is no primary data.

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