scholarly journals Fintech: A Literature Review

2021 ◽  
Vol 15 (1) ◽  
pp. 80
Author(s):  
Ferdinando Giglio
Keyword(s):  
Financial Services ◽  
Financial Stability ◽  
Business Models ◽  
New Technologies ◽  
National Level ◽  
Industrial Sector ◽  
World Bank Group ◽  
The European Union ◽  
Acceleration Force ◽  
Bank Group

This article analyzes the Fintech evolution. After describing the process of this phenomenon, some of the main definitions are provided both nationally and internationally. Finally, six main models of Fintech are analyzed. Through a systematic literature, 14 articles have been selected that deal with the phenomenon of Fintech. Six Fintech business models implemented by the ever growing number of Fintech startups have been identified, payment, wealth management, crowdfunding, loan, capital market and insurance services. Internationally, Fintech has already been defined by the International Monetary Fund (IMF), the World Bank Group (WBG), the Financial Stability Board (FSB), the Organization for Economic Cooperation and Development (OECD), the International Organization of Securities Commissions (IOSCO), the Bank for International Settlements (BIS). On a national level, on the other hand, Fintech has been analyzed by various countries, USA, United Kingdom, Singapore, China, Switzerland, China, Australia and the European Union. Fintech refers to a broad set of innovations - observable in the financial field in a broad sense - which are made possible by the use of new technologies both in the offer of services to end users and in the internal production processes of financial operators as well as in the design of market enterprises, without thereby compromising new possible configurations of intersectoral activities. Fintech appears to be representative of innovative methods - based on technology - of carrying out activities directly or indirectly connected to financial services rather than being a pre-defined industrial sector. Following the logic of the digital economy, Fintech contributes to designing an open and continuous network of modular services for businesses, individuals and banking, financial and insurance intermediaries, becoming a powerful acceleration force for the integration policies of the financial services markets in the EU.

scholarly journals Transforming Universities for the Digital Age - Policies – Business Models – Resources

2019 ◽  
Vol 5 (4) ◽  
Author(s):  
Eva Szalma
Keyword(s):  
Higher Education ◽  
Business Models ◽  
Career Guidance ◽  
Student Mobility ◽  
Classical Model ◽  
National Level ◽  
The European Union ◽  
Institutional Leadership ◽  
Strategic Factor ◽  
E Learning

Higher education systems in the European Union are operating in an increasingly fast-changing and competitive environment. They have to tackle key issues dealing with massification, career guidance, cost-efficiency, international attractiveness, student mobility. At a more operational level, digital practices and technologies support the change of several aspects of higher education institutions and new players providing expertise and methodologies undermine the classical model of university as a leading knowledge producer and disseminator.Such major transformations require modern governance arrangements and dynamic leadership. As outlined in the EU Modernization Agenda of Higher Education (2011), the major bottleneck found is the staff competence and preparedness, more specifically at the institutional leadership and executive management level.The interest for e-learning is not new but contrary to the obvious interest for equipment or management, this has not been enough for e-learning to impose itself. As stated by Paul Bacsich (2011) the presence of ICT in universities is a reality but the education transformation has not yet taken place. So far, initiatives are generally focused on operational (managerial) aspects. The D-TRANSFORM project starting in 2014 and ending in 2017[1] was the first European-funded project focusing on the fundamental strategic aspects of digital innovation of Higher Education. Through leadership schools, MOOCs, guidelines and stat-of-the-art reports it helped university governing bodies to define their own digital strategies and coordinate them with public policies defined at the European/national level and to be able to plan e-education according to the university needs and profile.[1] DigiTal Resources As a New Strategic FactOr for a Renovation and Modernization in HEType: Initiative supported by the ERASMUS+(2014- 2017)Budget: 1 M$

Effective Governance through Decentralized Soft Implementation: The OECD Guidelines for Multinational Enterprises

2008 ◽  
Vol 9 (11) ◽  
pp. 1753-1778 ◽  
Author(s):  
Gefion Schuler
Keyword(s):  
Human Rights ◽  
Financial Services ◽  
Multinational Enterprises ◽  
Contact Point ◽  
Pulp Mill ◽  
World Bank Group ◽  
International Court Of Justice ◽  
International Court ◽  
Bank Group ◽  
Sea Area

Botnia S.A./Metsä-Botnia Oy's construction of the Orion pulp mill in Uruguay raised concerns regarding violations of national, regional, and international law with regard to social and environmental protection. On 18 April 2006, the Center for Human Rights and Environment (CEDHA), an Argentinean non-governmental organisation, submitted to Finland's National Contact Point (NCP) a “specific instance” regarding the possible non-compliance of Botnia S.A. (a Finnish enterprise) with the OECD Guidelines for Multinational Enterprises (OECD Guidelines for MNEs, Guidelines) when building the envisaged pulp mill in Uruguay. According to the Center for Human Rights and Environment, Botnia S.A. violated the OECD Guidelines for MNEs especially with respect to Chapter II “General Policies”, Chapter III “Disclosure”, Chapter V “Environment” and Chapter VI “Bribery”. Specific instances concerned with related issues were filed by the Center for Human Rights and Environment with the Swedish and Norwegian NCPs against Nordea, a leading financial services group of the Nordic and Baltic Sea area, for possible financing of Botnia S.A.'s pulp mill project and against the Finnish state bank Finnvera for providing export guarantees to Botnia S.A. Other fora that have in the meantime become involved in the issue are the International Court of Justice and member institutions of the World Bank Group, the International Finance Corporation and the Multilateral Investment Guarantee Agency.

New Technologies and Democratic Participation on the International Level

2013 ◽  
pp. 10-19
Author(s):  
Marios Papandreou
Keyword(s):  
Information And Communication Technologies ◽  
New Technologies ◽  
National Level ◽  
Communication Technologies ◽  
International Level ◽  
The European Union ◽  
Global Democracy ◽  
Information And Communication ◽  
The One

This chapter shows that the role of new technologies in global democracy is very important. First, the concept of democracy is analyzed with particular reference to participation and (access to) information. Second, it is explained that democracy should not be limited to the national level because of the major changes of globalization and because of the fact that these changes influence the everyday lives of billions of people. Examples of the United Nations and the European Union are examined, the former as an example of what could be done and how (with regard to individuals’ participation) and the latter as an example of what has already been achieved. Finally, it is explained how and under which conditions new technologies could help build more democratic and more participatory processes on the international level. The concept of access is the central link between information and communication technologies on the one side and international participatory democracy on the other.

Viewpoints on Cooperative Peatland Management: Expectations and Motives of Dutch Farmers

Land ◽  
2021 ◽  
Vol 10 (12) ◽  
pp. 1326
Author(s):  
Johanna Norris ◽  
Bettina Matzdorf ◽  
Rena Barghusen ◽  
Christoph Schulze ◽  
Bart van Gorcum
Keyword(s):  
Q Methodology ◽  
Business Models ◽  
Policy Design ◽  
National Level ◽  
Climate Mitigation ◽  
The European Union ◽  
Peat Soils ◽  
Funding Sources ◽  
Agricultural Emissions ◽  
Future Policy

The European Union (EU) is globally the second highest emitter of greenhouse gases from drained peatlands. On the national level, 15% of agricultural peat soils in the Netherlands are responsible for 34% of agricultural emissions. Crucial to any successful policy is a better understanding of the behavioral change it will bring about among the target groups. Thus, we aim to explore farmers’ differing viewpoints to discuss how policy and planning can be improved to ensure landscape-scale climate mitigation on agriculturally used peatlands. Q methodology was used to interview fifteen farmers on Dutch peat soils, whereby 37 statements were ranked in a grid according to their level of agreement. Factor analysis revealed three main viewpoints: farmers with a higher peat proportion show an urgency in continuing to use their land (‘cooperative businesspeople’), while ‘independent opportunists’ are wary of cooperation compromising their sense of autonomy. Farmers who are ‘conditional land stewards’ are open to agriculture without drainage but require appropriate payments to do so. Future policy design must focus on providing support to farmers that go beyond compensation payments by providing information about funding sources as well as potential business models for peatland uses with raised water tables.

The new European crowdfunding regulation: facilitating cross-border services

2021 ◽  
Vol ahead-of-print (ahead-of-print) ◽  
Author(s):  
Marco Brand
Keyword(s):  
European Union ◽  
Financial Services ◽  
Business Models ◽  
Service Providers ◽  
The European Union ◽  
Content Type ◽  
Cross Border ◽  
Funding Sources ◽  
Capital Markets Union ◽  
The Impact

Purpose To explain the new Crowdfunding Regulation to market participants and to describe the impact of the Crowdfunding Regulation on current crowdfunding business models in the European Union. Design/methodology/approach This article provides an overview of the new Crowdfunding Regulation with a focus on the provisions concerning cross-border services (“European Passport”) and the new authorization requirements for crowdfunding service providers. Findings In particular the introduction of the European passport will open new funding sources for project owners. This together with the harmonized authorization requirements of crowdfunding service providers is expected to contribute to further growth of the crowdfunding market in the European Union. The Crowdfunding Regulation is a further step on the way to a Capital Markets Union in Europe and regulates crowdfunding for the first time on a European level. Practical implications The Crowdfunding Regulation does not cover all existing crowdfunding business models in Europe (e.g., consumer as project owners and qualified subordinated loans are exempted). Insofar, the rules of the Member States continue to apply with the consequence of a partial fragmentation of applicable regulations. Originality/value Expert guidance from experienced financial-services lawyer.

Generics at the Crossroads: Will Europe Lead the Way Forward?

2009 ◽  
Vol 6 (3) ◽  
pp. 193-205
Author(s):  
Eric Gorka
Keyword(s):  
Economies Of Scale ◽  
New Technologies ◽  
National Level ◽  
Fixed Costs ◽  
The European Union ◽  
Global Trends ◽  
The Future ◽  
Operational Excellence

The generics industry is at a crossroads. Fundamental growth drivers remain unchanged, and should result in sustained long-term growth. However, growing cost and pricing pressures mean the industry of the future will look very different and the longer term impact of the financial crisis is still unclear. Future industry structure will also be determined by the extent to which genuine competition is allowed to emerge and to overcome the trend towards nationalist protectionist policies. The companies that succeed will be those that excel in four key areas: launches, differentiation, geographic presence and operational excellence. They will implement variations on three basic strategies: leveraging fixed costs/economies of scale, using new technologies and focusing on value products. Although many questions remain to be answered, including the future role of Europe, several global trends are clear, including ongoing industry consolidation and the growing importance of biosimilars. Otherwise, much will depend on developments in the European Union (EU), the world's largest single market. The EU offers an object lesson in the need for political leadership not only from the top but also at the national level, where varying approaches can have make-or-break importance for generic penetration rates and thus for the industry as a whole.

scholarly journals Comparative Analysis of Financial Stability Policy of The National Bank of Serbia and The European Central Bank

2015 ◽  
Vol 53 (2) ◽  
pp. 142-161
Author(s):  
Mirjana Jemović ◽  
Borko Krstić
Keyword(s):  
European Union ◽  
Financial Services ◽  
Financial Stability ◽  
Banking Sector ◽  
Global Financial Crisis ◽  
System Stability ◽  
The European Union ◽  
National Bank ◽  
The Global Financial Crisis ◽  
The Eu

AbstractThe Republic of Serbia has successfully completed the first part in the European Union integration process, being granted candidate status for membership in the European Union (EU). The stage of accession negotiations is in progress, and it includes the full harmonization with the EU acquis, whereby the analytical review of legislation, the so-called screening is being carried out in 35 chapters. The global financial crisis that affected our country in 2008 has required a timely reaction of the National Bank of Serbia (NBS) in order to preserve the financial system stability, especially the banking sector as its most important segment. As the financial services sector adjusts within chapter 9, the aim of this paper is to assess the level of compliance of national legislation with the EU legislation regarding banking sector. Along with the regulatory initiatives in the field of preserving financial stability in the EU countries, the NBS has paid great attention to the harmonization of its financial stability policy with the financial stability policy of the European System of Central Banks (ESCB).

scholarly journals Legal Status of the Financial Ombudsman in the European Union – Risks and Challenges

2021 ◽  
pp. 145-162
Author(s):  
Ewa Derc
Keyword(s):  
Financial Market ◽  
Financial Services ◽  
Financial Stability ◽  
Legal Status ◽  
The Other ◽  
The European Union ◽  
Financing System ◽  
Consumer Rights ◽  
The Stability ◽  
To Receive

This contribution deals with the protection of consumer rights which must be clear and certain. At the same time, it is not possible to protect the important interests of the stability of the financial market and its actors and, at the same time, to protect those who use the services of these actors. After all, the interests of the parties in a contract are not entirely compatible, the client wants to receive the lowest possible price of capital and the borrower the highest possible price. A body that will protect one party will not be independent with regard to the other interest being protected. The idea of all the Financial Ombudsmen created after 2008 is precisely that of protecting one party, the consumer/customer, who, in his or her own way, is the guarantor of the banks' liquidity security. This idea prevails where the consumer of financial services is effectively protected. The Ombudsman is, in a way, a consequence, but also a guarantor of financial stability and the financing system, and not speculation on consumers.

Banking in the United States

2019 ◽  
pp. 977-999
Author(s):  
Robert DeYoung
Keyword(s):  
Financial Services ◽  
Commercial Banks ◽  
Financial Stability ◽  
New Technologies ◽  
Banking Industry ◽  
High Volume ◽  
The United States ◽  
Retail Banking ◽  
Small Community ◽  
Banking Services

The past forty years has witnessed a near total transformation of the US banking industry, as well as a near total disaster. The bank regulatory framework established during the Great Depression was dismantled, new technologies revolutionized how banks produce and distribute financial services, and dramatic increases in competition have pressured banks to operate more efficiently. The population of commercial banks has been halved by a wave of acquisitions and the largest banks have increased ten-fold in size. A strategic dichotomy has emerged, with small ‘community’ banks providing person-to-person retail and small business banking services, and large commercial banks providing high-volume retail banking services in domestic markets and corporate and investment banking services around the world. These changes have brought great efficiencies to the banking industry and its customers, but have also introduced new instabilities to the system. A decade of historically high profits was followed by large investment losses and government bailouts during the financial crisis of 2008–9. A partial re-regulation of the industry has followed, and both bankers and policymakers seek to balance market efficiencies with financial stability as this dynamic industry moves further into the twenty-first century.

scholarly journals Current Status of Circular Economy Research in Finland

Resources ◽  
2021 ◽  
Vol 10 (5) ◽  
pp. 40
Author(s):  
Aida Hosseinian ◽  
Jenni Ylä-Mella ◽  
Eva Pongrácz
Keyword(s):  
Circular Economy ◽  
Business Models ◽  
Management Practices ◽  
New Technologies ◽  
National Level ◽  
Resource Scarcity ◽  
Current Status ◽  
Materials Management ◽  
Research Fields ◽  
Waste Management Practices

Circular economy has emerged as a sustainable alternative to the traditional, linear, extract-produce-use-dump economy. The scientific society, practitioners, policymakers, and business sectors are all actively taking part in driving the transition toward circular economy in their own sectors. Every sector is striving to address the environmental issues of their own area, and to find solutions to the problem of resource scarcity. However, there is a lack of comprehensive studies on the general status of circular economy research and applied projects. Finland aims to be a global pioneer in this field, which is why there is a tremendous boost in research in various fields of sustainable materials management. Therefore, there is a need to have a better perspective of the research society’s efforts to accelerate the transition to circular economy. The objective of this paper is to review scientific research and practices of circular economy transition in Finland, in order to categorize and analyze them. The paper aims to give an insight into the current status and provide a comprehensive understanding of the trend changes during the past 20 years. The analysis shows that there is growing attention to circular economy in many research fields, researchers and practitioners in all fields have responded to the need of the society. However, the recycling-based ‘end-of-pipe’ interpretation of circular economy is still more dominant than developing and implementing strategies for circular product design, dematerializing society, and developing service-based business models. It is important to bear in mind that circular economy is about much more than improved resource flows and waste management practices. Achieving a circular economy needs the engagement of the society, it needs invention and innovation and it also requires the creation of new technologies, products, services, and business models. This study gives a comprehensive perspective at the national level and addresses the key actions and sectors which require more investment and attention from the scientific community to boost the transition toward circular economy. There are some limitation in this study derived from the method of data collection and selection of databases. Due to this, there may be valuable works that were not published, or only in the Finnish language and were, therefore, not identified in this study.

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