scholarly journals Local Government Financial Institution and FinTech

2019 ◽  
pp. 557-566
Author(s):  
Witold Srokosz
Keyword(s):  
Local Government ◽  
Business Model ◽  
Financial Institutions ◽  
Financial Institution ◽  
Model Based ◽  
Blockchain Technology ◽  
The Creation ◽  
Legal Barriers

The article compares the characteristics of local government financial institutions and FinTechs in order to make an attempt to answer the question whether a local government financial institution may constitute a FinTech. The study analyses a particular case of using the business model based on blockchain technology for a local government financial institution, as well as discusses the possibility to base the functioning of such institution on the DAO concept. The article is summarised with the outline of the analyses of legal barriers concerning the creation and functioning of local government financial institutions as FinTechs.

scholarly journals A case study on business model innovations using Blockchain: focusing on financial institutions

2017 ◽  
Vol 11 (3) ◽  
pp. 335-344 ◽  
Author(s):  
JaeShup Oh ◽  
Ilho Shong
Keyword(s):  
Business Model ◽  
Financial Institutions ◽  
Financial Services ◽  
Business Models ◽  
Measurement Data ◽  
Actual Measurement ◽  
Content Type ◽  
Blockchain Technology ◽  
Insufficient Amount

Purpose Blockchain is a distributed ledger, in which the blocks containing transaction details are connected chronologically to form a series of chains, thus raising the possibility of improving the process and innovating business model for the financial institutions. The purpose of this paper is to study the actual cases of Blockchain applied in Korea in 2017, so that a vision of business model innovation of financial institutions can be drawn. Design/methodology/approach The financial institutions in Korea are in the technology verification stage to introduce Blockchain technology. Since there is an insufficient amount of actual measurement data, case study method was adopted. The authors interviewed ICT officers of major banks in Korea. The purpose of the interview was to understand the relationship between Blockchain and business models of financial institutions, and the effects and challenges that Blockchain has on the business model of financial institutions. Findings From the perspective of financial institutions, the emergence of Blockchain does not just have technical significance – emergence of highly efficient database system – but has the possibility that if the business model of existing financial intermediaries disappears or get reduced, the financial services relying on them can disappear altogether, or some of them can be replaced, and financial transaction patterns of consumers can be changed. As a case studies researched for this paper, it was discovered that the distributed characteristic of Blockchain cannot be applied when actually developing financial services.

scholarly journals NEW QUALITY OF FINANCIAL INSTITUTIONS AND BUSINESS MANAGEMENT

2020 ◽  
Vol 6 (1) ◽  
pp. 59
Author(s):  
Nataliia Kraus ◽  
Kateryna Kraus ◽  
Valerii Osetskyi
Keyword(s):  
Comparative Analysis ◽  
Financial Institutions ◽  
Financial Institution ◽  
Business Management ◽  
Scientific Research ◽  
Digital Economy ◽  
Management Tool ◽  
Innovative Development ◽  
Blockchain Technology ◽  
The Relationship

Economic processes in the world are characterized by a high level of dynamism, change and innovative approaches to addressing key issues in nowadays. In a context of globalization and European integration of Ukraine into a high-tech competitive environment in order to financing innovative projects, it is necessary to use Blockchain technology as an effective tool for digital economy. Purpose of scientific research is to find out key priorities and functionalities of Blockchain’s application for solving business and government tasks. The object of scientific research is the latest financial technology Blockchain and a system of cult-technologies: crowdsourcing, crowdfunding, crowdinvesting. Methodology. In the process of research, the following methods are used: generalization is used in studying the nature, preconditions and principles of Blockchain technologies; formalization is used when comparing characteristics of the latest forms of financing, such as crowdsourcing, crowdfunding, crowdinvesting. In the course of scientific research, key qualitative characteristics of digital economy are described and the dominant components of its development are investigated. The result of the article. The priorities, new principles of business management and possibilities of Blockchain technology as an effective digital economy tool for solving business and government tasks are revealed. Future prospects from the implementation of crowd-technologies as an effective management tool in progress for solving the problems of innovative business are substantiated. Interconnection in the latest financial institution of creative initiatives realization is presented. The comparative analysis of management of new institutes of innovative development for Ukrainian economy in the course of doing business is carried out. The result of the research is presentation of the relationship in the latest financial institution implementing creative initiatives and a comparative analysis of new institutes of innovative development in the sphere of finance for the Ukrainian economy. Practical implications. The components of digital economy identified by the authors in the article are accelerators of the socio-economic life of Ukrainian society in the modern world and are capable of rapidly increasing Ukraine’s GDP. The described new forms of financing of Ukrainian startups (crowdsourcing, crowdfunding, crowdinvesting) are today quite interesting and effective tool for solving business problems in the financial, economic, innovative and marketing spheres. Value/originality. Blockchain technology, as an effective tool for Ukraine’s digital economy, is able to address the challenges of business and government, uncover the relationship between crowdsourcing, crowdfunding, crowdinvesting, and explain the content of innovative financial institutions for Ukraine’s economy.

scholarly journals Innovation risk management in financial institutions

2021 ◽  
Vol 18 (1) ◽  
pp. 190-202
Author(s):  
Svitlana Mishchenko ◽  
Svitlana Naumenkova ◽  
Volodymyr Mishchenko ◽  
Dmytro Dorofeiev
Keyword(s):  
Risk Management ◽  
Financial Institutions ◽  
Financial Institution ◽  
Cloud Service ◽  
Operational Stability ◽  
Insurance Fund ◽  
Constant Attention ◽  
Blockchain Technology ◽  
Collective Risk ◽  
The Impact

The extensive use of financial technologies and innovations in the provision and utilization of financial products and services causes new risks that require constant attention. The article aims to improve innovation risk management methods to increase the operational stability of financial institutions in Ukraine. By generalizing international practice, the types of innovation risks are classified, and their impact on the activities of financial institutions and consumers is characterized. The attention is drawn to the control strengthening over the impact of operational and regulatory risks, based on important theoretical provisions contained in WBG, BIS, BCBS, and FSB documents. An organizational scheme for the interaction of a financial institution and an IT company is proposed to conclude “smart contracts” based on the use of a cloud service and blockchain technology. The authors propose additional methods of insurance protection and compensation for losses caused by the implementation of risks of using ICT and innovation based on creating the Collective Risk Insurance Fund of financial institutions; offer approaches to the calculation of variable and fixed parts of the contribution to the insurance fund for certain groups of financial institutions. It is concluded that to maintain the proper operational stability of financial institutions in Ukraine, it is necessary to introduce additional collective compensation methods for the risks of innovation and the strengthening of cyber threats.

The Potential Of Blockchain Technology To Change International Mobile Roaming Business Model

2019 ◽  
Vol 5 (1) ◽  
pp. 15-22
Author(s):  
Ardian Thresnantia Atmaja
Keyword(s):  
Business Model ◽  
Current Situation ◽  
Business Value ◽  
Third Party ◽  
Fundamental Aspect ◽  
Clearing House ◽  
Blockchain Technology ◽  
Smart Contract ◽  
Target Architecture ◽  
Architecture Development

The key objectives of this paper is to propose a design implementation of blockchain based on smart contract which have potential to change international mobile roaming business model by eliminating third-party data clearing house (DCH). The analysis method used comparative analysis between current situation and target architecture of international mobile roaming business that commonly used by TOGAF Architecture Development Method. The purposed design of implementation has validated the business value by using Total Cost of Ownership (TCO) calculation. This paper applies the TOGAF approach in order to address architecture gap to evaluate by the enhancement capability that required from these three fundamental aspect which are Business, Technology and Information. With the blockchain smart contract solution able to eliminate the intermediaries Data Clearing House system, which impacted to the business model of international mobile roaming with no more intermediaries fee for call data record (CDR) processing and open up for online billing and settlement among parties. In conclusion the business value of blockchain implementation in the international mobile roaming has been measured using TCO comparison between current situation and target architecture that impacted cost reduction of operational platform is 19%. With this information and understanding the blockchain technology has significant benefit in the international mobile roaming business.

Effects of Financial Innovations on Profitability for Deposit Taking Microfinancing Institutions in Kenya

2018 ◽  
Vol 9 (6) ◽  
pp. 529-536
Author(s):  
Martin Khoya Odipo ◽  
Keyword(s):  
Financial Institutions ◽  
Positive Relationship ◽  
Financial Institution ◽  
Secondary Data ◽  
Financial Statements ◽  
Descriptive Statistics ◽  
Primary Data ◽  
Microfinance Institutions ◽  
Financial Innovations ◽  
Strong Positive Relationship

Recent studies have documented that innovations improve profitability of firms. This article documents that deposit taking micro financial institutions that have adopted financial innovations have increased their profitability. The study covered five years between 2009-2013. Both primary and secondary data were used in the study. Primary data was obtained through administration of drop and pick questionnaires to selected employees of the institutions. Secondary data was obtained from financial statements and management reports of these deposit taking microfinance institutions. Data was analyzed using descriptive statistics, return on asset and multi-liner regression model to determine the effect of each financial innovation applied on profitability on the micro-financial institution. The results showed that most deposit taking microfinance institutions adopted these financial innovations in their current operations. There was strong positive relationship between individual innovations and profitability. In line with profitability ROA also showed improvement each year after the adoption of these financial innovations.

About digital transformation of the transport industry in Russia

2020 ◽  
Vol 19 (3) ◽  
pp. 95-105
Author(s):  
Natalia V. Vysotskaya ◽  
T. V. Kyrbatskaya
Keyword(s):  
Artificial Intelligence ◽  
Business Model ◽  
Data Science ◽  
Digital Transformation ◽  
Digital Culture ◽  
Blockchain Technology ◽  
Community Approach ◽  
Non Linear ◽  
Transport Industry ◽  
Artificial Intelligence Systems

The article is devoted to the consideration of the main directions of digital transformation of the transport industry in Russia. It is proposed in the process of digital transformation to integrate the community approach into the company's business model using blockchain technology and methods and results of data science; complement the new digital culture with a digital team and new communities that help management solve business problems; focus the attention of the company's management on its employees and develop those competencies in them that robots and artificial intelligence systems cannot implement: develop algorithmic, computable and non-linear thinking in all employees of the company.

Diversity and the Performance of Selected Financial Institutions of Asia

2018 ◽  
Vol 2 (1) ◽  
pp. 1
Author(s):  
Shafaque Fatima ◽  
Saqib Sharif
Keyword(s):  
Financial Institutions ◽  
Positive Impact ◽  
Financial Institution ◽  
Gender Diversity ◽  
Business Case ◽  
Ordinary Least Squares ◽  
Cross Sectional ◽  
Age Diversity ◽  
The Impact ◽  
Nationality Diversity

Linking with the business case for diversity, this study examines whether the top management team (TMT) and the board of directors (BODs) diversity has a positive impact on financial institution (FI) performance in select countries of Asia least researched domain. We use data from 119 financial institutions across Asia for the year 2015, initially 1,447 institutions; however, incomplete data was excluded from final analysis. We use three proxies for diversity, that is, nationality diversity, gender diversity, and age diversity of TMT and BODs. To investigate the impact of TMT and BODs diversity, cross-sectional ordinary least-squares estimation is applied, using Return on Average Assets (ROAA%) as a measure of performance.  We find that nationality diversity and age diversity is positively and significantly related to FIs performance. Our evidence indicates that executives and board members with diverse exposure and younger age improve FIs profitability. However, there is no significant relationship between gender and FIs performance.

scholarly journals Blockchain Disrupting Fintech and the Banking System

Proceedings ◽  
2021 ◽  
Vol 74 (1) ◽  
pp. 24
Author(s):  
Eduard Alexandru Stoica ◽  
Daria Maria Sitea
Keyword(s):  
Artificial Intelligence ◽  
Machine Learning ◽  
Big Data ◽  
Financial Institutions ◽  
New World ◽  
Great Part ◽  
Banking System ◽  
Daily Activities ◽  
Blockchain Technology ◽  
Almost All

Nowadays society is profoundly changed by technology, velocity and productivity. While individuals are not yet prepared for holographic connection with banks or financial institutions, other innovative technologies have been adopted. Lately, a new world has been launched, personalized and adapted to reality. It has emerged and started to govern almost all daily activities due to the five key elements that are foundations of the technology: machine to machine (M2M), internet of things (IoT), big data, machine learning and artificial intelligence (AI). Competitive innovations are now on the market, helping with the connection between investors and borrowers—notably crowdfunding and peer-to-peer lending. Blockchain technology is now enjoying great popularity. Thus, a great part of the focus of this research paper is on Elrond. The outcomes highlight the relevance of technology in digital finance.

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