Digital transformation of the banking system in the context of sustainable development

Journal of Money Laundering Control, Journal Year: 2021, Volume and Issue: 25(1), P. 165 - 180

Published: June 12, 2021

Purpose The purpose of this paper is to study the current state Russian banking system in context digital economy development, establish and identify benchmarks needs legal regulation, potential possibilities digitalization relations sector mechanism implementing prudential rules. Design/methodology/approach Using method political analysis used study, guidelines for financial services market have been determined, which are strategic planning documents. Findings International research field indicates that globalization stimulate processes international regulatory cooperation harmonization legislation, use new approaches development adoption regulations market. growth will contribute effective implementation rules, including those related need protect public interests. Originality/value revealed a number issues activities credit institutions professional participants securities central bank as mega-regulator, requiring solution. Measures aimed at improving legislation procedures regulation supervision proposed.

Language: Английский

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A Systematic Literature Review of the Risk Landscape in Fintech

Risks, Journal Year: 2023, Volume and Issue: 11(2), P. 36 - 36

Published: Feb. 8, 2023

The current study is primarily concerned with the developments in financial technology, or fintech, that have significantly altered traditional systems, focusing on several risk categories emerged technology sector’s digital ecosystem. This paper a review of existing literature related to landscape particularly its publication trend, journal productivity, impact, affiliated organizations, and themes. A bibliometric content analysis 84 articles collected through Scopus’ structured database performed for comprehensive review. It revealed development has decreased physical crime while simultaneously increasing cybercrime. Another challenge asymmetrical between markets relevant supervisors. These issues necessitate creation an Act Fintech create legislative framework. present study’s findings are helpful academia industry aid their knowledge about fintech associated risks, timeline, geographical spread, coherent

Language: Английский

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FINTECH, TAXATION, AND REGULATORY COMPLIANCE: NAVIGATING THE NEW FINANCIAL LANDSCAPE

Finance & Accounting Research Journal, Journal Year: 2024, Volume and Issue: 6(3), P. 320 - 330

Published: March 9, 2024

The emergence of financial technology (Fintech) has revolutionized the global landscape, offering innovative solutions that challenge traditional banking systems and investment practices. This review explores intersection Fintech, taxation, regulatory compliance, highlighting complexities opportunities within this dynamic ecosystem. Fintech encompasses a wide range technologies, including blockchain, artificial intelligence, mobile payment systems, which have streamlined services expanded access to capital markets. However, rapid evolution poses significant challenges for taxation frameworks. Traditional tax laws struggle keep pace with speed complexity digital transactions, leading uncertainties in treatment enforcement. Navigating implications requires nuanced understanding assets, decentralized finance (DeFi) platforms, cross-border transactions. Tax authorities worldwide are grappling these challenges, seeking balance innovation compliance while ensuring fair transparent regime. examines various approaches adopted by governments bodies address legislative reforms, international cooperation, use advanced data analytics. Furthermore, remains critical concern firms, as they must navigate labyrinth rules standards across jurisdictions. Compliance requirements vary widely, ranging from anti-money laundering (AML) regulations protection laws, presenting operational legal market participants. discusses strategies achieving sector, emphasizing importance proactive risk management, engagement, technological such RegTech. Despite convergence offers immense growth. By embracing transformation adopting agile frameworks, businesses can unlock full potential safeguarding stability integrity. provides insights into evolving landscape key trends, best practices navigating new frontier finance. Keywords: Taxation, Financial, Technology, Review.

Language: Английский

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Digital Technologies in the Financial sector: Evolution and Major Development Trends in Russia and Abroad

Finance Theory and Practice, Journal Year: 2021, Volume and Issue: 25(3), P. 90 - 101

Published: July 7, 2021

The subject of the research is a complex financial technologies that are actively used in and credit sector Russia abroad. study aims to show place technological progress based on use FinTech development human capital Russian economy; transformation business processes modern technologies, creating new promising opportunities, responding challenges Industry 4.0. paper considers issues related prospects for global practice possibilities their adaptation activities organizations. analysis data provided by international consulting companies, analytical centers, official sources Central Bank (Bank Russia). authors apply methods such as comparative research, empirical, logical, graphical, analysis, interpretation, comparison. assesses growing role economy, identifies main problems, outlines integration traditional institutions companies reproduction innovations future. As result, it was concluded improving effectiveness banking possible basis digitalization using various which will lead simplification optimization operations, prevention fraud, create more personalized offers according customer needs, while changing way interaction with them.

Language: Английский

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The impact of FinTech development on stock price crash risk and the role of corporate social responsibility: Evidence from Vietnam

Business Strategy & Development, Journal Year: 2023, Volume and Issue: 6(4), P. 557 - 570

Published: June 26, 2023

Abstract With the strong development of Financial Technology (FinTech) innovation in recent years, academic interest effect FinTech on financial market has also increased significantly. To develop field further, this study investigates future stock price crash risk and role corporate social responsibility an emerging market. By using a sample 662 listed firms Vietnamese exchange for period 2011–2020 applying fixed‐effect System GMM estimation method, we find that results risk. However, disclosure can mitigate such effect. As extension, provide evidence is stronger becomes more important small firms. Our findings several implications shareholders, investors, regulators fields management investment.

Language: Английский

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The Interaction between Banking Sector and Financial Technology Companies: Qualitative Assessment—A Case of Lithuania

Risks, Journal Year: 2021, Volume and Issue: 9(1), P. 21 - 21

Published: Jan. 11, 2021

The role of financial technology companies increases every day. From one side this process generates more possibilities for consumers from other it is related with new risks which arise in banking sector. At the beginning FinTech era lots analyst were discussing about disruptive potential services. Later, however, we can see discussions cooperation between and banks. point very important to discuss a inclusion. purpose study analyze interaction sector companies. We use case Lithuania because here growing intensively. First all try scientific literature analyzes main aspects second part article provides progress presents points methodology. research was focused on strengths, weaknesses, opportunities, threats (SWOT) political, economic, social, technological, environmental, legal (PESTEL) analysis statistical parameters. also used correlation regression together qualitative assessments. Our results showed that order value better focus assessment only give different wrong results. identified both sectors interact each there no effect Lithuania.

Language: Английский

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Expanding Financial Inclusion Through Fintech and E-governance

Springer eBooks, Journal Year: 2023, Volume and Issue: unknown, P. 103 - 129

Published: Jan. 1, 2023

Language: Английский

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Global financial markets: Factors influencing the global financial markets

International Journal of Advanced engineering Management and Science, Journal Year: 2021, Volume and Issue: 7(6), P. 101 - 113

Published: Jan. 1, 2021

The worldwide recession began in earnest with a series of acute financial crises key developed nations that occurred simultaneously the freezing markets around world and steep decline global trade.The current research focused on assessing impact (Global economy, Business growth development, Inflation) ton markets.The present thesis was analyzed using questionnaire.Sample design is technique or process researcher able to accept selecting objects for survey referred as sample design.The chosen random sampling method carried out various businesses located Kurdistan region Iraq.A total 280 questionnaires were issued, but only 228 participants completed them correctly.In order examine aspect factors development growth, measure influence sustained competitive advantage small medium Iraq.Participants asked rate value each object five-point scale ranging from unimportant highly important.The findings revealed implications first hypothesis: Global economy strongly predicts (Beta weight 0.801, p.001), implying would have clear beneficial relationship based these findings, second 0.719, business finally third inflation 0.689, Inflation findings.

Language: Английский

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Economic Sanctions against Russia: Assessing the Policies to Overcome their Impact

Economy of Regions, Journal Year: 2020, Volume and Issue: 16(4), P. 1115 - 1131

Published: Dec. 1, 2020

Starting from 2014 the European Union countries, United States of America and some other states im- posed economic sanctions against Russia, resulting in diversification trade ties away western part- ners (“pivot to East” strategy). The mixed findings recent literature related their effective- ness measures overcome negative consequences, has necessitated examination these issues for case anti-Russian sanctions. We use various macroeconomic data along with indicators digital development financial inclusion. methodology comprises a combination graphical, com- parative, correlation analysis. analysis external sector shows that had substantial impact on foreign direct investment main senders. At same time, “pivot after not been implemented yet as much expected. To pact promote growth, current should be accompanied by measures, centred development, technologies, assess linkages between wealth inequality we found most countries moderate inequality, including transformation could bring more benefits terms than lower inequality. overall study allowed us examine policy implications effects Russia. obtained results will contribute addressing problem optimisation Russia’s behaviour target country is subject future research.

Language: Английский

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Novelties and Benefits of Fintech in the Financial Industry

International Journal of E-Services and Mobile Applications, Journal Year: 2021, Volume and Issue: 14(1), P. 1 - 25

Published: Oct. 15, 2021

New technologies and innovations that are emerging developing today through the financial industry can be called by one name is “FinTech”. The main feature of “FinTech” "digital proximity", where relationship between customers banks changes from "physical proximity" to proximity". Recognition new digital available ultimately their implementation lead an increase operational efficiency business excellence. objective this work was (1) study explore importance digitalization transformation its impact on FinTech (2) analyze Fintech's innovation novelty areas in sector, (3) ensure a review research literature these field. However, there still lack correlates fintech industry, which evident presented researched literature.

Language: Английский

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