The article studies the impact of Fintech on entrepreneurship in Arabic region by using Crowdfunding platforms as the field of study. The article focuses on Arabic Crowdfunding platforms. The population of (12) platforms consist of: individuals, entrepreneurs, investors, employees at Crowdfunding platforms. Descriptive and quantitative approach used in this article, and a questionnaire used as a tool to collect primary data. The results indicate an impact for Fintech on entrepreneurship in general and obvious obstacles to use it widely (...) in Arabic region cause of legislations or e-payments. The article recommended more awareness for innovative products and services such as Fintech, Crowdfunding and adopting the culture of e-business models. Also the article promoting the process of developing regulations that organize e-business models, especially Fintech and Crowdfunding, the use of modern communication technology to serve the development of society, more interest to innovation and creativity as a key factor for entrepreneurial success. (shrink)

The level of financial literacy of rural residents will affect their financial decisions and the financial well-being behind the decisions. This paper uses mediating effect and moderating effect to test the influence path of rural residents’ subjective and objective financial literacy on their financial decision-making with survey data from Henan and Anhui provinces in China. The results show that subjective and objective financial literacy have positive effects on financial market participation. Subjective and objective financial literacy have negative direct effects on (...) insurance market participation. Subjective financial literacy plays an incomplete mediating effect in the impact of objective financial literacy on financial market and insurance market participation. Objective financial literacy is adjusted by subjective financial literacy on financial market participation and insurance market participation. At the same time, we introduce financial technology penetration as a threshold variable in the model and find that the financial literacy has stronger impact on financial decision-making if the financial technology penetration is above the threshold. (shrink)

Financiële technologische ontwikkeling, de zogeheten fintech, is hot en happening. De ontwikkelingen gaan snel maar leiden geregeld tot moreel kwetsbare praktijken. Een geautomatiseerd systeem de schuld geven van economische uitbuiting, uitsluiting en privacyschending is onzinnig. De auteurs gaan in op de vraag wat de rol van financiële ethiek (nog) is als de besluitvorming en gedragssturing bij en in het ontwerp van allerlei systemen (grotendeels) vooraf bepaald wordt. -/- Dit artikel is relevant voor financieel professionals die fintech vormgeven en/of (...) gebruiken. Helaas zijn er geen kant-en-klare oplossingen om moraliteit te programmeren. De auteurs roepen lezers daarom op om bij het managen van de nieuwe innovatiegolf te blijven streven naar vormen van goed bestuur en best practices. (shrink)

Evolution of fintech services and the adoption of new emerging technology is what is seen in today’s world. Very few researchers have studies on the factors that affect the adoption of fintech services and how human behavior varies as technology changes. Apart from this, the advancement in mobile phones and the increase in the usage of them have increased the demand of the online financial services. In this paper we have considered and studied factors that have an impact (...) of the adoption of fintech services through convenient sampling. We have studied perceived ease of use, innovation, trust and government support. Through SPSS we have concluded that each of these factors have a positive impact on the adoption of fintech services. Our model is based on TAM and was adopted from our base article. The finding of this research can be used to make improvements in the existing fintech services and also in the development of new services. (shrink)

Building on critical approaches that understand algorithms in terms of communication, culture and organization, this paper offers the supplementary conceptualization of algorithms as organizational figuration, defined as material and meaningful sociotechnical arrangements that develop in spatiotemporal processes and are shaped by multiple enactments of affordance–agency relations. We develop this conceptualization through a case study of a Danish fintech start-up that uses machine learning to create opportunities for sustainable pensions investments. By way of ethnographic and literary methodology, we provide an (...) in-depth analysis of the dynamic trajectory in and through which the organization gives shape to and takes shape from its key algorithmic tool, mapping the shifting sociotechnical arrangements of the start-up, from its initial search for a viable business model through the development of the algorithm to the public launch of its product. On this basis, we argue that conceptualizing algorithms as organizational figuration enables us to detail not only what algorithms do but also what they are. (shrink)

The financial applications of data technology have enabled the rise of Chinese fintech industries. As part of people's everyday lives, fintech apps have helped companies collect vast amounts of user data for business profit and social good. This paper takes an open-systems approach to study the constructs of this emerging idea of data governance, particularly its operational logic, involved stakeholders, and socio-cultural consequences in the context of fintech industries in China. It asserts that data governance at the (...) company level has been realized through three types of tasks: standardization, configuration, and monetization of big data. These tasks are oriented by the imperative of business innovation which is considered pivotal for the company to survive the competition. An ensemble of internal and external actors joined the governing process, but internal actors hold the stake. The goal of innovation drives the companies to speedily collect data from a wider variety of sources, thus having to establish more sophisticated systems to manage and utilize those data. These complicated systems, however, have urged the government to strengthen regulatory controls alongside the general support of business innovation. This study unveils the performative aspects of big-data-based innovation at fintech firms. It also helps to understand the pathology of the innovation-governance paradox shared in the data economy in the global context. (shrink)

The green development level reflected in the green finance index and the evaluation of the degree of green development in smart cities have important practical effects on economic transformation. For promoting the transformation and upgrading of finance, we select 2013–2019 data and construct a distributed lag model to analyse the important role played by green finance and financial technology in the construction of smart cities. In the paper, we find green finance promotes the construction of smart cities, and only it (...) will not appear until nine months late. Financial technology has an opposite impact on the construction of smart cities, this is mainly because the research and marketization of financial technology are higher, and the cost is also higher. This influence will appear in the next 14 months. (shrink)

With the threats from Fintech firms and regulators, would banks ever be dethroned from the crown? The answer to this question yet remains to be examined.

O fenómeno FinTech revolucionou o modo de prestar serviços financeiros e transformou a relação entre o prestador destes serviços e o consumidor, sendo as plataformas digitais e aplicações o meio através do qual o consumidor passou a relacionar-se com o seu prestador de serviços financeiros. O sector bancário precisa adaptar-se de forma célere e urgente à nova realidade. O perfil do consumidor de serviços financeiros alterou-se e quanto mais digital e tecnológico se tornarem os prestadores de serviços financeiros, surgem (...) novas desigualdades sociais. Propomo-nos analisar que desigualdades se geraram e quais os atuais impactos sociais. (shrink)

This essay reviews two recent books—Marion Laboure and Nicolas Deffrennes's Democratizing Finance and Eswar S. Prasad's The Future of Money—on financial technology (fintech) and the future of money. Both books present overviews of recent developments in fintech and assess the prospects of technological change to deliver a more accessible, equitable financial system—described in both cases as the “democratization of finance.” I raise two key concerns about the limits of the “democratization” implied here. First, the vision of democratized finance (...) implicit in both books rests on claims about widening access to financial services for individuals, households, and businesses. This contrasts with more substantive visions of democratized finance that entail the exercise of accountable, deliberative decision-making on monetary and financial questions. Second, “fintech democracy” rests on a very thin account of how finance might be democratized, stressing exogenous technological change, with little consideration of relations of power, institutional reforms, or mobilization. Both books provide eloquent and comprehensive overviews of emerging fintech debates, but in so doing ultimately reveal important limitations to achieving financial democracy through fintech. (shrink)

In the era of FinTech, many countries are currently exploring the viability of their own digital currencies due to the vast potential in terms of efficiency, security and accessibility. Some digital currencies have been under rapid development and real-world trials have recently been deployed. The purpose of this paper is to understand the main factors that could affect people’s intention to use digital currency via an empirical study. A survey was employed to collect data and the final sample consisted (...) of 408 respondents in China. The responses were analyzed using exploratory factor analysis, confirmatory factor analysis and structural equation modeling. The results showed that financial knowledge, perceived value, openness to innovation and perceived convenience positively impact people’s intention to use digital currency. It was also found that perceived value can be significantly anteceded by perceived monetary value, perceived functional value, and perceived emotional value. In addition, the mediating effect of perceived value on the influencing path between financial knowledge and intention to use was also confirmed. The findings can be utilized by governmental related authorities or FinTech companies to enhance the perception of users and develop effective strategies for increasing their intention to use digital currency. (shrink)

The role of software architecture in large-scale Agile development is important because several teams need to work together to release a single software product while helping to maximise teams’ autonomy. Governing and aligning Agile architecture across autonomous squads, when using the Spotify model, is a challenge because the Spotify model lacks practices for addressing Agile architecture governance. To explore how software architecture can be governed and aligned by scaling the Spotify model, we conducted a longitudinal embedded case study in a (...) multinational FinTech organisation. Then, we developed and evaluated an approach for architectural governance by conducting an embedded case study. The collected data was analysed using Thematic Analysis and informed by selected Grounded Theory techniques such as memoing, open coding, constant comparison, and sorting. Our approach for architectural governance comprises an organisational structure change and an architecture change management process. The benefits reported by the practitioners include devolving architectural decision-making to the operational level, enhancing architectural knowledge sharing among squads, minimising wasted effort in architectural refactoring, and other benefits. The practitioners in our case study realised an improved squad autonomy by the ability to govern and align architectural decisions. We provide two key contributions in this paper. First, we present the characteristics of our proposed architectural governance approach, its evaluation, benefits, and challenges. Second, we present how the novel Heterogeneous Tailoring model was enhanced to accommodate our architectural governance approach. (shrink)

Liquidity risk arises from the inability to unwind or hedge trading positions at the prevailing market prices. The risk of liquidity is a wide and complex topic as it depends on several factors and causes. While much has been written on the subject, there exists no clear-cut mathematical description of the phenomena and typical market risk modeling methods fail to identify the effect of illiquidity risk. In this paper, we do not propose a definitive one either, but we attempt to (...) derive novel mathematical algorithms for the dynamic modeling of trading volumes during the closeout period from the perspective of multiple-asset portfolio, as well as for financial entities with different subsidiary firms and multiple agents. The robust modeling techniques are based on the application of initial-value-problem differential equations technique for portfolio selection and risk management purposes. This paper provides some crucial parameters for the assessment of the trading volumes of multiple-asset portfolio during the closeout period, where the mathematical proofs for each theorem and corollary are provided. Based on the new developed econophysics theory, this paper presents for the first time a closed-form solution for key parameters for the estimation of trading volumes and liquidity risk, such as the unwinding constant, half-life, and mean lifetime and discusses how these novel parameters can be estimated and incorporated into the proposed techniques. The developed modeling algorithms are appealing in terms of theory and are promising for practical econophysics applications, particularly in developing dynamic and robust portfolio management algorithms in light of the 2007–2009 global financial crunch. In addition, they can be applied to artificial intelligence and machine learning for the policymaking process, reinforcement machine learning techniques for the Internet of Things data analytics, expert systems in finance, FinTech, and within big data ecosystems. (shrink)

New network technologies are framed as eliminating ‘transaction costs’, a notion first developed in economic theory that now drives the design of market systems. However, the actual promise of the elimination of transaction costs seems unfeasible, because of a cyclical pattern in which network technologies that make that promise create processes of institutionalization that create new forms transaction costs. Nonetheless, the promises legitimize the exemption of innovations of network technologies from critical scrutiny.