scholarly journals Measuring Financial Access

2020 ◽  
Vol 20 (08) ◽  
Author(s):  
Marco Espinosa-Vega ◽  
Kazuko Shirono ◽  
Hector Carcel Villanova ◽  
Esha Chhabra ◽  
Bidisha Das ◽  
...  
Keyword(s):  
Financial Services ◽  
Service Providers ◽  
Financial Service ◽  
Supply Side ◽  
Future Directions ◽  
Financial Access ◽  
10Th Anniversary ◽  
Mobile Money ◽  
Global Coverage ◽  
Disaggregated Data

This departmental paper marks the 10th anniversary of the IMF Financial Access Survey (FAS). It offers a retrospective of the FAS database, along with some reflections as to its future directions. Since its 2009 launch, the FAS has provided granular data on access to and use of financial services. It is a supply-side database with annual global coverage based on data sourced directly from financial service providers—aimed at supporting policymakers to target and evaluate financial inclusion policies. Its data collection has kept pace with financial innovation, such as the rise of mobile money and growing demand for gender-disaggregated data—and the FAS must continue to evolve.

Assessment of Mobile Money Enablers in Nigeria

2018 ◽  
pp. 129-155
Author(s):  
Sunday Adewale Olaleye ◽  
Ismaila Temitayo Sanusi ◽  
Dandison C. Ukpabi
Keyword(s):  
Service Delivery ◽  
Social Influence ◽  
Developing Economies ◽  
Financial Service ◽  
Considerable Influence ◽  
Future Directions ◽  
Mobile Money ◽  
Utaut Model ◽  
Performance Expectancy ◽  
Effort Expectancy

This chapter describes how mobile money is an emerging and innovative financial service delivery mechanism. With huge success, recorded mostly in the developing economies, it is scholarly unclear the antecedents of its adoption. Using a survey of 151 respondents comprising both the banked and underbanked in the South-Western part of Nigeria, the authors used the PLS-SEM to test the research hypothesis. The results reveal the enablers of mobile money, which are social influence, performance expectancy, security and effort expectancy, and inhibitors such as system anxiety and cost. Privacy, trust, image and convenience were not found significant in this study. Social influence, performance expectancy and effort expectancy variables adapted from the UTAUT model have considerable influence on mobile money in Nigeria. Study implications and future directions are offered.

Mobile Financial Services

2020 ◽  
pp. 96-119
Author(s):  
Alexander Maina Kimari ◽  
Eric Blanco Niyitunga
Keyword(s):  
Financial Services ◽  
Developing World ◽  
Service Providers ◽  
Customer Experience ◽  
Financial Service ◽  
Financial Inclusion ◽  
The Poor ◽  
Financial Exclusion ◽  
Mobile Financial Services

The chapter explores financial exclusion, its causes, and consequences in society. The chapter found that the existing discrepancy in financial inclusion between the developed and developing world is driven by financial exclusion that makes it difficult for financial service providers to expand outreach to the poor at affordable prices. The chapter aims to investigate the role of mobile financial service design and development in dealing with financial exclusion. It was found that mobile financial services are promoting financial inclusion in various markets. However, few studies have been undertaken on the benefits of mobile financial services in dealing with the high rates of financial exclusion. The chapter recommended that to achieve financial inclusion, there is need for mobile financial services providers to take into account customer experience through the ease of using the phone interface. The chapter concluded that there is need for scholars in the fields of finance and economics to conduct research in the areas of mobile financial services and their role in society.

Securing Financial Inclusiveness Adoption of Blockchain FinTech Compliance

2022 ◽  
pp. 168-196
Author(s):  
Heru Susanto ◽  
Fahmi Ibrahim ◽  
Rodiah ◽  
Didi Rosiyadi ◽  
Desi Setiana ◽  
...  
Keyword(s):  
Cyber Security ◽  
Financial Services ◽  
Business Models ◽  
Service Providers ◽  
Personal Data ◽  
Financial Service ◽  
Management Approach ◽  
Security Risk ◽  
Payment Systems ◽  
Major Target

Financial technology (FinTech) as part of financial inlcussion changes conventional business models to be information technology minded. The presence of FinTech in the wider community makes it easy for access to financial service products and transactions and payment systems more practically, efficiently, and economically. Unfortunately, as the security risk in transacting increases, cyber security in the financial services industry and FinTech service providers is considered a major target by cybercriminals. This study proposed a security management approach through hybrid blockchain method implemented through flask framework and encryption to protect transaction data. The results are promising. Referring to accuracy, this study successfully reduces data leakage and misuse of personal data and financial data in FinTechs.

Brand equity in Caribbean financial services: the moderating role of service providers

2019 ◽  
Vol 38 (3) ◽  
pp. 642-670
Author(s):  
Meena Rambocas ◽  
Surendra Arjoon
Keyword(s):  
Customer Satisfaction ◽  
Brand Equity ◽  
Financial Services ◽  
Service Providers ◽  
Credit Unions ◽  
Financial Service ◽  
Insurance Companies ◽  
Equation Modeling ◽  
Service Experience ◽  
Content Type

Purpose The purpose of this paper is to develop an integrated model to represent how service experience (core, employee and service scale), customer satisfaction (transaction-specific and cumulative) and brand affinity influence brand equity in financial services, taking into account the moderating influence of financial service providers. Design/methodology/approach Data were collected from 751 customers in three types of financial service providers (banks, insurance companies and credit unions), and analyzed with structural equation modeling and multi-group analysis. Findings The findings confirm the significant and positive influence of service experience, customer satisfaction and brand affinity on brand equity. Employee service experience has the strongest influence, but its impact is mediated by customer satisfaction. Brand affinity has the lowest influence on brand equity. The type of financial service provider moderates the influence of customer satisfaction on brand equity; transactional satisfaction is more important for credit unions and insurance companies, but cumulative satisfaction is higher for banks. Practical implications The study is significant for three reasons. First, it reconciles branding strategies across different types of financial service providers. Second, it will help financial managers to develop and implement a more integrated approach toward building brand equity for financial service brands. Finally, it will identify specific service-related areas financial providers can target to increase customers’ preferential value. Originality/value The paper addresses previous concerns within brand equity studies by examining the drivers of brand equity formation in multiple financial institutions. It shows how different aspects of service experience and customer satisfaction affect brand affinity and preferential attitudes toward financial brands.

scholarly journals Empirical Data on Mobile Money Hesitation Factors in Somalia

2020 ◽  
Vol 9 (3) ◽  
pp. 3719-3727
Keyword(s):  
Financial Services ◽  
Perceived Risk ◽  
Large Scale ◽  
Central Government ◽  
Service Providers ◽  
Electronic System ◽  
Full Scale ◽  
Financial Loss ◽  
Mobile Money ◽  
Money Transfer

Mobile money is an electronic system of transferring money from person to person. The mobile money service has expanded its coverage all over the world and there is hardly any country that do not practice any form of mobile money transfer. Somalia is one of the countries that embraced mobile money unconditionally as there is lack of traditional financial institutions providing financial services since the collapse of central government in 1991. Somalians accepted mobile money because it has made money transfer easier for them to pay bill and shopping. However, there are hesitation factors that hinder the full scale functioning of the system and makes people hesitate to use mobile money. Currently mobile money users practice very limited mobile money functions such as sending and receiving, withdrawal, top up and internet recharge. Other mobile money functions such as pay tuition fees, payrolls, payments for purchase t, utility payment and saving money into mobile money account are lagging behind. This empirical study explores the inconvenience factors that lead people to hesitate to use mobile money in a large scale. In this study, 650 survey questionnaire were distributed among mobile money users in Somalia. The questionnaires were distributed through online Google form. A total of 375 respondents submitted their responses and all the answers were recorded into SPSS. IBM-SPSS statistics 22 were used to statistically analyses the data. Factor analysis for data validity and scale analysis for data reliability, frequency and descriptive statistics were conducted to analyze the data. The study found that there are numerous mobile money hesitation factors that make Somalian people to hesitate fully practicing the system. These hesitation factors include perceived risk of financial loss, perceived risk of system error, perceived risk of authentication weaknesses, lack of regulation and policy and interoperability between the mobile money service providers. This study concludes that hesitation factors needs to be addressed that will improve the level of mobile money usage into full scale. Among factors that may reduce hesitation factors of the usage of mobile money services in Somalia are high level accuracy of mobile money authentication system, operative interoperability platform, highly effective compensation system and functioning mobile money regulations and policy.

Financial self-efficacy: a determinant of financial inclusion

2017 ◽  
Vol 35 (3) ◽  
pp. 338-353 ◽  
Author(s):  
Rachel Mindra ◽  
Musa Moya ◽  
Linda Tia Zuze ◽  
Odongo Kodongo
Keyword(s):  
Financial Services ◽  
Self Efficacy ◽  
Structural Equation ◽  
Structural Equation Models ◽  
Service Providers ◽  
Financial Service ◽  
Financial Inclusion ◽  
Financial Behavior ◽  
Cross Sectional ◽  
Content Type

Purpose The purpose of this paper is to examine the relationship between financial self-efficacy (FSE) and financial inclusion (FI) among individual financial consumers in Uganda. Design/methodology/approach Using a quantitative approach and cross-sectional research design, a sample of 400 individuals from urban Central and rural Northern Uganda was drawn. SPSS and AMOS™ 21, regression analysis and structural equation models were used to establish the hypothesized relationship between FSE and FI. Findings The results suggest a strong positive and significant relationship between FSE and FI. The results further suggest that other variables which were controlled for, such as age and gender, had significant influence on an individual’s usage of formal financial services. Research limitations/implications The study was assessed using both potential and actual consumers of financial services collectively. However, if separately assessed, possibly there would be a variation in behavioral responses toward FI. Practical implications Formal financial service providers need to enhance individuals’ levels of confidence in management of finances and utilization of formal financial products and services, so that the financial consumers can realize the changes in financial behavior and consequently FI. Social implications The enhancement of individuals’ level of confidence in evaluating the available financial service options will guide them to take financial decisions that will improve their livelihood. Originality/value The results contribute toward the limited empirical and theoretical evidence for FSE and FI from a behavioral demand-side perspective.

Ordnungspolitische Weichenstellungen für die anstehende Reform der Riester-Rente

2020 ◽  
Vol 69 (3) ◽  
pp. 239-249
Author(s):  
Axel Kleinlein
Keyword(s):  
Life Insurance ◽  
Financial Services ◽  
Service Providers ◽  
Insurance Industry ◽  
Financial Service ◽  
Mandatory Retirement ◽  
Insurance Company ◽  
Life Insurance Company ◽  
Insurance Sector ◽  
Life Insurance Industry

Abstract The Riester pensions today face two main problems: First, life insurance industry in Germany faces the problem of inadequate solvency. Therefore, there is a need that we take the Riester pension not as a sole part of the life insurance sector and open it to the whole sector of financial services. Second, the previous regulation of the Riester pension is causing problems. Particularly the guarantee forces mandatory retirement with a life insurance company and the requirement of capital preservation. Therefore we have to review these two guarantee aspects. It is also important to limit costs and to simplify the funding system. The concept of the “Basisdepot-Vorsorge” solves these problems while it is based on promoting precisely those who want to save up for their retirement during their active career, no matter what kind of financial service is included in the accumulation or decumulation phase. To include all different financial service providers creates the needed economical competition to ensure better products for the Riester-Rente.

SEC charges private fund administrator with gatekeeping failures

2017 ◽  
Vol 18 (1) ◽  
pp. 65-67
Author(s):  
Keith Miller ◽  
Martin E. Lybecker ◽  
Jesse Kanach ◽  
Mary C. Moynihan ◽  
Hillary B. Levun
Keyword(s):  
Financial Services ◽  
Design Methodology ◽  
Service Providers ◽  
White Collar ◽  
Financial Service ◽  
Securities And Exchange Commission ◽  
Content Type ◽  
Services Sector ◽  
Financial Services Sector ◽  
Enforcement Activity

Purpose To explain a set of recent US Securities and Exchange Commission (SEC) administrative settlements targeting fund administrators and to alert fund administrators and other financial service providers to their growing “gatekeeper” obligations. Design/methodology/approach This article explores the factual and legal contours of SEC administrative settlements with a fund administrator, as well as related enforcement actions against investment managers, to better understand the affirmative steps the SEC is expecting financial service providers to take to help root out fraud and misappropriation in the financial services sector. Findings The SEC’s administrative settlements with this fund administrator illustrate the SEC’s expanding focus on the “gatekeeper” function and signal the intent of the SEC to impute culpability for wrongdoing to fund administrators and other financial service providers simply for not doing enough to root out fraud and misappropriation in the financial services sector. Originality/value This article contains valuable information about recent SEC enforcement activity and practical guidance from experienced white collar, securities, and investment management lawyers.

FinTech for Digital Financial Services

2019 ◽  
pp. 61-80
Author(s):  
Benjamin Enahoro Assay
Keyword(s):  
Financial Services ◽  
Service Providers ◽  
Financial Service ◽  
Innovative Technology ◽  
African Society ◽  
The Future

The introduction of FinTech into Africa's digital financial services environment has provoked a controversy as to whether the innovative technology should be assimilated by banks and other financial service providers or not, thus creating uncertainty about the future of FinTech on the continent. This chapter, therefore, examines the issues, controversy, and problems surrounding the debut of FinTech and suggest ways to make the technology acceptable in order to harness its potentials for the overall benefit of the African society.

Tapping the Untapped (Financial Inclusion)

2016 ◽  
Vol 1 (2) ◽  
Author(s):  
Atul Kumar Srivastava
Keyword(s):  
Rural Areas ◽  
Financial Services ◽  
Andhra Pradesh ◽  
Service Providers ◽  
Financial Service ◽  
Financial Inclusion ◽  
Gdp Growth ◽  
Rural People ◽  
Agrarian Economy ◽  
Opening Up

As far as our economic growth is concerned, we are growing rapidly .This statement is easily supported by GDP growth. Is this the growth of our whole economy? Ours is an agrarian economy and if people living in those rural areas are not being taken into account properly, then, it will be wrong to say that we are growing rapidly. A major portion of India lives in villages and that area is being excluded by the financial service providers. This article talks about the potential areas i.e. states regarding financial inclusion. This article tries to look into the problems faced by the bankers while opening up a branch in rural areas and problems the faced by customers. Ultimately, financial service providers have to foray into that field. This article gives an insight regarding financial inclusion. An attempt is being made by RBI , they have given some policies in which it is written clearly that Financial inclusion should be there. But it will be worth while to see the supply barriers in this field. The paper talks about those aspects too. This article discusses the issues raised in Andhra Pradesh recently, which should already be avoided by financial service providers. After all, the efforts of financial service providers should be more target oriented and packed with some strategy regarding financial inclusion and this paper just focuses upon some strategies. A survey of a rural area in Bareilly district was made to know the concerns of rural people regarding financial services. This paper is an attempt to peep into the different facets of financial inclusion but it will become effective only then, when policymakers show their required concern over it.

Sign in / Sign up

Export Citation Format

Share Document