Download or read book The Global Findex Database 2017 written by Asli Demirguc-Kunt and published by World Bank Publications. This book was released on 2018-04-19 with total page 148 pages. Available in PDF, EPUB and Kindle. Book excerpt: In 2011 the World Bank—with funding from the Bill and Melinda Gates Foundation—launched the Global Findex database, the world's most comprehensive data set on how adults save, borrow, make payments, and manage risk. Drawing on survey data collected in collaboration with Gallup, Inc., the Global Findex database covers more than 140 economies around the world. The initial survey round was followed by a second one in 2014 and by a third in 2017. Compiled using nationally representative surveys of more than 150,000 adults age 15 and above in over 140 economies, The Global Findex Database 2017: Measuring Financial Inclusion and the Fintech Revolution includes updated indicators on access to and use of formal and informal financial services. It has additional data on the use of financial technology (or fintech), including the use of mobile phones and the Internet to conduct financial transactions. The data reveal opportunities to expand access to financial services among people who do not have an account—the unbanked—as well as to promote greater use of digital financial services among those who do have an account. The Global Findex database has become a mainstay of global efforts to promote financial inclusion. In addition to being widely cited by scholars and development practitioners, Global Findex data are used to track progress toward the World Bank goal of Universal Financial Access by 2020 and the United Nations Sustainable Development Goals. The database, the full text of the report, and the underlying country-level data for all figures—along with the questionnaire, the survey methodology, and other relevant materials—are available at www.worldbank.org/globalfindex.

Download or read book Financial Inclusion Through Digital Banking in India written by Dr.S.Rajaram and published by SK Research Group of Companies. This book was released on 2024-01-09 with total page 236 pages. Available in PDF, EPUB and Kindle. Book excerpt: Dr.S.Rajaram, Associate Professor, Department of Commerce, St. Joseph University, Dimapur, Nagaland, India.

Download or read book The Promise of Fintech written by Ms.Ratna Sahay and published by International Monetary Fund. This book was released on 2020-07-01 with total page 83 pages. Available in PDF, EPUB and Kindle. Book excerpt: Technology is changing the landscape of the financial sector, increasing access to financial services in profound ways. These changes have been in motion for several years, affecting nearly all countries in the world. During the COVID-19 pandemic, technology has created new opportunities for digital financial services to accelerate and enhance financial inclusion, amid social distancing and containment measures. At the same time, the risks emerging prior to COVID-19, as digital financial services developed, are becoming even more relevant.

Download or read book Fintech written by International Monetary Fund and published by International Monetary Fund. This book was released on 2019-06-27 with total page 73 pages. Available in PDF, EPUB and Kindle. Book excerpt: The paper finds that while there are important regional and national differences, countries are broadly embracing the opportunities of fintech to boost economic growth and inclusion, while balancing risks to stability and integrity.

Download or read book FINANCIAL INCLUSION IN INDIA written by DR.S.V. SHINDE and published by Lulu.com. This book was released on with total page 176 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Download or read book India s Approach to Open Banking Some Implications for Financial Inclusion written by Mr.Yan Carriere-Swallow and published by International Monetary Fund. This book was released on 2021-02-26 with total page 27 pages. Available in PDF, EPUB and Kindle. Book excerpt: We examine how the development of the digital infrastructure known as the “India Stack”—including an interoperable payments system, a universal digital ID, and other features—is delivering on the government’s objective to expand the provision of financial services. While each individual component of the India Stack is important, we argue that its key overarching feature is a foundational approach of providing extensive public infrastructures and standards that generates important synergies across the layers of the Stack. Until recently, a large share of India’s population lacked access to formal banking services and was largely reliant on cash for financial transactions. The expansion of mobile-based financial services that enable simple and convenient ways to save and conduct financial transactions has provided a novel alternative for expanding the financial net. The Stack’s improved digital infrastructures have already allowed for a rapid increase in the use of digital payments and the entry of a range of competitors including fintech and bigtech firms.

Download or read book Is Digital Financial Inclusion Unlocking Growth written by Purva Khera and published by International Monetary Fund. This book was released on 2021-06-11 with total page 30 pages. Available in PDF, EPUB and Kindle. Book excerpt: Digital financial services have been a key driver of financial inclusion in recent years. While there is evidence that financial inclusion through traditional services has a positive impact on economic growth, do the same results carry over for digital financial inclusion? What drives digital financial inclusion? Why does it advance more in some countries but not in others? Using new indices of financial inclusion developed in Khera et. al. (2021), this paper addresses these questions for 52 developing countries. Using cross-sectional instrument variable procedure, we find that the exogenous component of digital financial inclusion is positively associated with growth in GDP per capita during 2011-2018, which suggests that digital financial inclusion can accelerate economic growth. Fractional logit and random effects empirical estimation identifies access to infrastructure, financial and digital literacy, and quality of institutions as key drivers of digital financial inclusion. These findings are then used to help inform policy recommendations in areas related to the digitization of financial services to promote financial inclusion.

Download or read book Impact of Digital Banking in Promoting Financial Inclusion written by Neeraj Kumar and published by . This book was released on 2023-08-31 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: Digital financial inclusion can prove a master stroke in reaching the unserved and underserved population, especially to low income groups. With the aim of reaching such population banking and non banking sectors have started to render digital financial services to excluded people. The approach to digital channels and usage of financial services in formal way by the debarred and underserved populace is termed as "Digital Financial Inclusion". One of the decisive drivers that included majority of population in formal financial sector was Pradhan Mantri Jan Dhan Yojna initiated by the Indian Government. Under this scheme the bank accounts of majority of the Indian citizens have been opened to provide the benefits of direct benefit transfer. The accounts of adults with any of the financial institutions have been increased from 52.8% to 79.8 % between years 2014 to 2017 that shows more than three hundred million people entered in formal financial sector in three years. If the digital financial services could be provided in an effective manner by the service providers it may bridge the gap in the way of financial inclusion by providing convenience, ease of use, time saving and low cost transaction features etc. Various digital banking channels have been introduced by the financial institutions and Government such as Automatic teller machines (ATMs), Cash dispensing machines, Internet banking, Mobile banking, Point of sales (POS) terminals, Unified payment interface (UPI) and Business correspondents etc. which made the banking easily accessible. In spite of presence of enormous digital banking platforms, still there are quite a few lacunas ingrained in the system that act as roadblock in the way of digital financial inclusion. Hence we cannot ignore the adverse factors and the risk associated with digital transactions.

Download or read book Inclusive Banking In India written by Lalitagauri Kulkarni and published by Springer Nature. This book was released on 2021-06-01 with total page 195 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book addresses the gaps in the present institutional structure of inclusive finance framework in India. It provides a comprehensive review of the role of banks in financial inclusion policy and micro-finance landscape in India at present. It identifies the key issues within the banking system which prove to be obstacles in the way of achieving financial inclusion and sustainable growth. The book conceptualizes inclusive banking, delves into the theoretical foundations thereof and suggests an institutional framework to avoid overlapping of their functions in order to ensure profitability. It reviews the existing market structure and competition in the inclusive finance arena while considering the role of banks, micro-finance institutions and SHGs in financing the poor. The book proposes a distinct change to the existing business model, examines the bank business model for inclusion and how the banks can and should treat the micro lending clientele as their core client base to counter the issues of profitability and competition in today’s banking sector. It also discusses some of the latest initiatives in inclusive finance and the importance of entrepreneurship development experiments in India and their efficacy in comparison with the micro-lending model.

Download or read book Marketing Techniques for Financial Inclusion and Development written by Jain, Dhiraj and published by IGI Global. This book was released on 2018-06-01 with total page 311 pages. Available in PDF, EPUB and Kindle. Book excerpt: Financial inclusion has been one of the most propagated ideologies in countries, and as a result, significant efforts have been taken to nurture institutions and systems to include an array of socio-economic classes. Various financial institutions and societies have taken steps toward financial inclusion, but to be successful, they need to understand how to accurately target and market their potential customers as well as the new avenues for development. Marketing Techniques for Financial Inclusion and Development is a critical scholarly resource on the marketing techniques adopted by various financial institutions and societies for promoting financial inclusion initiatives for the development of the society at large. Featuring coverage on a broad range of topics such as consumer awareness, financial literacy, and micro-enterprises, this book is geared towards managers, investors, brokers, researchers, and all others within the banking industry.

Download or read book Fintech and Financial Inclusion in Latin America and the Caribbean written by Mr. Dmitry Gershenson and published by International Monetary Fund. This book was released on 2021-08-20 with total page 77 pages. Available in PDF, EPUB and Kindle. Book excerpt: Despite some improvement since 2011, Latin America and the Caribbean continue to lag behind other regions in terms of financial inclusion. There is no clear evidence that fintech developments have supported greater financial inclusion in LAC, contrary to what has been observed elsewhere in the world. Case studies by national policy experts suggest that barriers to entry in the financial sector, along with a constraining regulatory environment, may have hindered a faster adoption of fintech. However, fintech development seems to have accelerated in the wake of the COVID-19 pandemic and with the support of recent policy initiatives.

Download or read book Behavioral Finance and Decision making Models written by Tripti Tripathi and published by Business Science Reference. This book was released on 2019 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: Behavioral finance challenges the traditional assumption that individuals are rational by focusing on the cognitive and emotional aspects of finance, which draws on psychology, sociology, and biology to investigate true financial behavior. The financial sector requires sound understanding of market dynamics and strategic issues to meet future challenges in the field. Behavioral Finance and Decision-Making Models seeks to examine behavioral biases and their impact on investment decisions in order to develop better future plans and strategies in the financial sector. While highlighting topics including behavioral approach, financial regulation, and globalized sector, this book is intended for policymakers, technology developers, managers, government officials, academicians, researchers, and advanced-level students.

Download or read book IIBF X Taxmann s Digital Banking Seminal guide to familiarise the readers with digital banking advancements and provides practical knowledge for adapting to digital changes in banking written by Indian Institute of Banking & Finance and published by Taxmann Publications Private Limited. This book was released on 2024-01-13 with total page 21 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book provides a seminal guide that charts the transformative journey of the banking sector in the digital age. It discusses the rise of digital banking, innovative financial products like UPI BHIM, and the role of Fintechs and NBFCs in enhancing financial inclusion and accessibility. The book provides in-depth insights into new banking trends like Blockchain and AI and offers practical knowledge for banking professionals to adapt to this evolving digital landscape. It serves as an essential resource, covering the following broad topics: • Digital Banking Products • Digital Banking & Financial Inclusion (FI) • Marketing of Digital Banking Products • Payment Systems • Future Trends in Digital Banking An invaluable resource for students, professionals, and anyone keen on understanding the digital banking revolution. The Present Publication is the 2024 Edition, updated by Mr Burra Butchi Babu | Former General Manager – Bank of India and vetted by Mr V.A. Prasanth | Former General Manager & Chief Information Officer – Indian Bank. Taxmann exclusively publishes this book for the Indian Institute of Banking and Finance with the following coverage: • Module A – Digital Banking Products o Digital Delivery Channels § Introduction and need for digital channels in banking § Analyzing the cost of transactions and customer preferences § The role of technology in enhancing user-friendliness and customer interaction § Emphasizing security as a crucial aspect of digital banking, including information security § Overview of the Integrated Ombudsman Scheme, 2021 by RBI § Discussion on customer protection and limiting liability in unauthorized transactions § RBI's directions on digital payment security controls § Challenges faced in digital banking and the concept of e-KYC o Cards § History and overview of plastic payment cards § Features and benefits of cards for customers § Understanding the Payment Card Industry-Data Security Standard § Comparison between Magnetic Strip Cards and EMV Cards, including NFC-based Tap & Go technology § The approval process for card schemes and profitability aspects § Insight into backend operations, recovery, follow-up, and information security issues o Automated Teller Machines (ATMs) § History and product features of ATMs § Types of ATMs, including White Label and Brown Label § The functioning of ATM networks and Instant Money Transfer (IMT) systems § Discussing profitability, risk management, and frauds in ATM operations § Backend operations and technology in ATMs § Overview of the Dispute Management System (DMS) o Mobile Banking § Introduction and diverse features of mobile banking § Description of IMPS and its benefits § Discussion on risk management, frauds, backend operations, and information security tips in mobile banking o Internet or Online Banking § History, working, and features of Internet banking § Analysis of the profitability and risks associated with Internet banking o POS Terminals § Background and features of Point of Sale (POS) systems § Benefits of POS systems to merchants and customers § Different types of transactions and the cash withdrawal process at POS § Merchant onboarding, approval process, and the parties involved in a POS setup § Profitability analysis and risk management in POS operations • Module B – Digital Banking & Financial Inclusion (FI) o Introduction to financial inclusion and its strategies o Approaches to accelerate financial inclusion and the role of technologies o Digital banking services in financial inclusion and factors beyond technology o Information security issues in financial inclusion and new developments o Understanding how banks earn money using digital delivery channels • Module C – Marketing of Digital Banking Products o Concept and channels for marketing digital banking products o Product planning and marketing structure in banks o Sales delivery, e-galleries, and after-sales service to customers o Marketing strategies for financial inclusion and the dangers of mis-selling o Use of analytics in marketing and customer education and protection • Module D – Payment Systems o Overview of global and domestic payment systems o Introduction to new domestic payment vehicles and platforms o Detailed analysis of various systems like Cheque Truncation System (CTS), RTGS, NEFT, NETC, Bharat QR, UPI QR, BBPS, and SWIFT o Forex and securities settlements o Innovative banking and payment systems, including digital banking super apps • Module E – Future Trends in Digital Banking o Background and future trends in digital banking o The impact of fintech, business ecosystem, and blockchain technology o Discussion on cryptocurrencies, peer financing, cloud computing, and virtualization o Data analytics, artificial intelligence (AI), machine learning (ML), deep learning (DL), robotic process automation (RPA), and the Internet of Things (IoT) o Central Bank Digital Currency (CBDC) and digital transformation of banks in India

Download or read book Digital finance and inclusion in the time of COVID 19 written by Benni, N. and published by Food & Agriculture Org.. This book was released on 2021-01-04 with total page 94 pages. Available in PDF, EPUB and Kindle. Book excerpt: The COVID-19 pandemic has impacted digital financial inclusion trends across the world in many and complex ways. In developing and emerging contexts, this crisis also holds the potential to propel an unprecedented acceleration in the process of financial digitization and turn out to be a game-changer for digital financial inclusion. The aim of this study is to illustrate the opportunities and risks associated with the surge in uptake and use of digital financial service, providing ideas on how to leverage the paradigm changes affecting the overall approach and perspective towards digital financial services – on the part of various stakeholders – to advance financial inclusion and development. It also seeks to showcase how digital financial services have been used – in both traditional and innovative ways – to mitigate the impact of the COVID-19 crisis on economies and societies, by both public and private actors.

Download or read book The Economics and Implications of Data written by Mr.Yan Carriere-Swallow and published by International Monetary Fund. This book was released on 2019-09-23 with total page 50 pages. Available in PDF, EPUB and Kindle. Book excerpt: This SPR Departmental Paper will provide policymakers with a framework for studying changes to national data policy frameworks.

Download or read book Marketing and Mobile Financial Services written by Aijaz A. Shaikh and published by Routledge. This book was released on 2018-12-21 with total page 286 pages. Available in PDF, EPUB and Kindle. Book excerpt: Mobile financial services (MFS) are of major interest and importance to both researchers and practitioners. The role played by nonbanking actors including telecoms and FinTech firms as well as other participants, such as PayPal and Amazon, in developing and deploying innovative financial and payment services is undeniable. Peer2peer (P2P) payments from nonbank services are becoming increasingly commonplace and will shortly be codified by EC (EU?) regulations requiring banks to provide access to consumer data for third-party app developers and service providers. Three major mobile financial systems—mobile banking, mobile payments, and branchless banking—currently dominate the electronic retail banking sector. Although interconnected and interrelated, their business models, regulatory frameworks, and target markets are distinct. This book provides a unified perspective on MFS and discusses its evolution, growth, and future, as well as identifying the frameworks, stakeholders, and technologies used in financial information systems in general and MFS in particular. Academics and researchers in digital and financial marketing will find this book an invaluable resource, as will bank executives, regulators, policy makers, FinTech professionals, and anyone interested in how mobile technology, social media and financial services will increasingly intersect.

Download or read book Bank 4 0 written by Brett King and published by John Wiley & Sons. This book was released on 2018-12-28 with total page 273 pages. Available in PDF, EPUB and Kindle. Book excerpt: Winner of best book by a foreign author (2019) at the Business Book of the Year Award organised by PwC Russia The future of banking is already here — are you ready? Bank 4.0 explores the radical transformation already taking place in banking, and follows it to its logical conclusion. What will banking look like in 30 years? 50 years? The world’s best banks have been forced to adapt to changing consumer behaviors; regulators are rethinking friction, licensing and regulation; Fintech start-ups and tech giants are redefining how banking fits in the daily life of consumers. To survive, banks are having to develop new capabilities, new jobs and new skills. The future of banking is not just about new thinking around value stores, payment and credit utility — it's embedded in voice-based smart assistants like Alexa and Siri and soon smart glasses which will guide you on daily spending and money decisions. The coming Bank 4.0 era is one where either your bank is embedded in your world via tech, or it no longer exists. In this final volume in Brett King's BANK series, we explore the future of banks amidst the evolution of technology and discover a revolution already at work. From re-engineered banking systems, to selfie-pay and self-driving cars, Bank 4.0 proves that we're not on Wall Street anymore. Bank 4.0 will help you: Understand the historical precedents that flag a fundamental rethinking in banking Discover low-friction, technology experiences that undermine the products we sell today Think through the evolution of identity, value and assets as cash and cards become obsolete Learn how Fintech and tech "disruptors" are using behaviour, psychology and technology to reshape the economics of banking Examine the ways in which blockchain, A.I., augmented reality and other leading-edge tech are the real building blocks of the future of banking systems If you look at individual technologies or startups disrupting the space, you might miss the biggest signposts to the future and you might also miss that most of we've learned about banking the last 700 years just isn't useful. When the biggest bank in the world isn't any of the names you'd expect, when branch networks are a burden not an asset, and when advice is the domain of Artificial Intelligence, we may very well have to start from scratch. Bank 4.0 takes you to a world where banking will be instant, smart and ubiquitous, and where you'll have to adapt faster than ever before just to survive. Welcome to the future.