Effects of innovative finance, strategy, organization and performance: a case study of company

Purpose The aim of the research is to analyze sustainability in energy companies in terms of financial innovation, innovation strategy and organizational innovation. Design/methodology/approach The analysis of this research was done by using the Mplus 7 package program, and the research model was tested using the existing latent variables and their expressions. Data from 298 administrative staff (white collar) working in companies operating in the energy sector were analyzed. Findings Both independent and mediation effects of financial innovation and innovation strategy positively affect sustainability performance. Therefore, it can be concluded that in order for sustainability performance to be positive, importance should be given to financial innovation, innovation strategy and organizational innovation activities. Research limitations/implications As the data were collected from energy companies in this research, it is not correct to generalize the evaluations. Therefore, in terms of the limitations of the research, the sector and sample size should be taken into account in future studies. Originality/value This research conducted in energy companies focuses on the importance of sustainability and has a unique value in the literature as the data is collected and analyzed from white-collar employees.

The Role of Marketing Knowledge Management in Enhancing Digital Financial Innovation in Commercial Banks

This study examines the role of marketing knowledge management (assets and capabilities) in enhancing digital financial innovation through the moderating role of employees' demographic characteristics (age, education, experience, and position) in commercial banks operating in Jordan. To accomplish this aim, a conceptual framework based on knowledge-based theory and literature review was developed. A total of 336 responses to a questionnaire survey were collected from the managers and employees working on commercial banks operating in Jordan. The empirical findings revealed that marketing knowledge management capabilities positively and significantly affect digital financial innovation. The findings also support the moderating effect of only two demographic characteristics: of employees: education and position on the relationship between marketing knowledge management and digital financial innovation in commercial banks in Jordan.

Financial Inclusion between Financial Innovation and Economic Growth A Study of Lower Middle Income Economies

Financial inclusion is a key concern that has achieved much impulsion in the last two decades internationally. It has the scope of reporting of financial scheme and institutions to the underserved community in the economy. This study examined the effect of financial innovation on economic growth with the mediation of financial inclusion. To address the relationship researchers in this study have used measures from a dataset of low and lower middle income group economies over a sample period from 2010-2017. The results of this study shows that financial innovation creates opportunities for financially excluded segment of the society which results in financial inclusion that leads to economic growth of low and lower middle economies. Therefore, financial innovation is a way for creation of financial inclusion in low and lower middle economies.

Nexus Between Financial Innovation and Financial Intermediation in Nigeria’s Banking Sector

This study evaluated the relationship between financial innovation and financial intermediation in Nigeria. It seems that banks in Nigeria may have a problem of deposit-loan mismatch and losing customers to start-ups given increasing cost of deposits attributable to disruptive practice arising from financial innovations. The specific objectives of this study were to examine the relationship between financial innovation (value of the automated teller machine, internet banking, mobile banking, point of sale transactions) and financial intermediation (commercial banks deposit mobilization) in Nigeria for the period 2009–2018. This study was anchored on the financial innovation theory of Joseph Schumpeter, which states that technology creates opportunities for new profits and super profits as a result of increased investment by banks or financial institutions on products of innovation. The ordinary least square was used to estimate the parameters. The data used were extracted from the Central Bank of Nigeria statistical bulletin. The results showed that there is a positive and significant relationship between financial innovation (value of Automated Teller Machine) and financial intermediation (commercial banks deposit mobilization) in Nigeria; there is a positive but no significant relationship between financial innovation (internet banking) and financial intermediation (commercial banks deposit mobilization) in Nigeria; there is a positive but no significant relationship between financial innovation (mobile banking) and financial intermediation (commercial banks deposit mobilization) in Nigeria; and there is no positive and significant relationship between financial innovation (point of sale transactions) and financial intermediation (commercial banks deposit mobilization) in Nigeria. The f-test result showed that financial innovations proxies jointly related significantly to commercial banks’ deposits. The work concludes that financial innovations contributed to commercial banks’ deposits in Nigeria. The researchers recommended among others that banks should improve on the security of transactions done on their platforms, continue to improve and partner with start-ups in technological infrastructure, improve on power and network stability, deploy more innovative products, and improve on the efficiency of bank staff by regular training.

PENDAMPINGAN PENYUSUNAN LAPORAN KEUANGAN USAHA RINTISAN KEUANGAN DIGITAL TEKNOLOGI ASURANSI SYARIAH YUKTAKAFUL (INSURTECH)

ABSTRAKPeningkatan pengguna internet sekarang ini berdampak pada berkembangnya usaha rintisan (startup) layanan digital yang membuat bisnis ini cukup menjanjikan. Yuktakaful sebagai salah satu startup penyedia layanan platform fintech di bidang keuangan khususnya asuransi terus berkembang menjadi organisasi yang menyediakan portal layanan digital asuransi (insurtech) berbasis web dan aplikasi mobile dengan berpegang pada prinsip Syariah. Namun, sebagai usaha yang baru berdiri tahun 2019 Yuktakaful memiliki kendala dalam menyusun laporan keuangan yang baik yang sesuai dengan format OJK. Padahal penyusunan laopran keuangan yang tidak memadai akan menghasilkan laporan keuangan yang tidak akurat. Kegiatan abdimas ini bertujuan untuk memberikan pendampingan kepada Yuktakaful dalam menyusun laporan keuangan yang sesuai dengan format OJK dan mengatasi persoalan keuangan yang terjadi saat ini. Berdasarkan hasil bimbingan dan evaluasi yang telah dilakukan maka kegiatan abdimas pendampingan dalam penyusunan laporan keuangan pada usaha rintisan inovasi keuangan digital ini sangat membawa manfaat yang besar bagi mitra. Mitra mengalami peningkatan tidak hanya dari segi pengetahuan dan pemahaman dalam penyusunan laporan keuangan saja tetapi juga muncul kepercayaan diri menghadapi regulator dan investor. Kata kunci: startup; insurtech; YukTakaful; laporan keuangan ABSTRACTThe current increase in internet users impacts on the increasing of startups digital service that make this business quite promising. Yuktakaful as one of the startups providing financial technology platform services in the financial sector, especially insurance, continues to develop into an organization that provides web-based insurance digital service portals (insurtech) and mobile applications by adhering to Sharia principles. However, as a business that was just established in 2019, Yuktakaful had problems in compiling good financial reports that suitable with the OJK format. In fact, preparing inadequate financial reports will result in inaccurate financial statements. This abdimas activity aims to provide assistance to Yuktakaful in compiling financial reports in accordance with the OJK format and overcoming current financial problems. Based on the results of the guidance and evaluation that have been carried out, the activities of abdimas mentoring in the preparation of financial reports for this digital financial innovation startup have brought great benefits to partners. Partners have increased not only in terms of knowledge and understanding in the preparation of financial statements but also confidence in facing regulators and investors. Keywords: startup; insurtech; YukTakaful; financial reports

REPRESENTATION OF THE FINANCIAL NEEDS OF RURAL MALAGASY HOUSEHOLDS

Madagascar is committed to implementing local financial services to facilitate rural households' access to these various services and promote rural development. The objective of the study is to understand the realities of the financing system in rural areas and more particularly in the rural commune of Alakamisy Itenina in vohibato district, and this, through the experience of rural households that determine the different financial needs and their financial priority. Using the Schwartz formula, surveys of 81 households were statistically treated. The results show that rural households prioritize social needs by meeting the social obligations dictated by fihavanana. The first place of the social obligations is perceived through the attachment to the traditional practice by the proverb “atero k'alao” which means "one receives by giving". This is how behavioural logic has been observed in localities far from financial services. Changing this behavioral logic turns out to be the best option. Rural households should accept new forms of financial innovation.