Download or read book Fintech Credit Risk Assessment for SMEs Evidence from China written by Yiping Huang and published by . This book was released on 2020-09-25 with total page 42 pages. Available in PDF, EPUB and Kindle. Book excerpt: Promoting credit services to small and medium-size enterprises (SMEs) has been a perennial challenge for policy makers globally due to high information costs. Recent fintech developments may be able to mitigate this problem. By leveraging big data or digital footprints on existing platforms, some big technology (BigTech) firms have extended short-term loans to millions of small firms. By analyzing 1.8 million loan transactions of a leading Chinese online bank, this paper compares the fintech approach to assessing credit risk using big data and machine learning models with the bank approach using traditional financial data and scorecard models. The study shows that the fintech approach yields better prediction of loan defaults during normal times and periods of large exogenous shocks, reflecting information and modeling advantages. BigTech's proprietary information can complement or, where necessary, substitute credit history in risk assessment, allowing unbanked firms to borrow. Furthermore, the fintech approach benefits SMEs that are smaller and in smaller cities, hence complementing the role of banks by reaching underserved customers. With more effective and balanced policy support, BigTech lenders could help promote financial inclusion worldwide.

Download or read book Artificial Intelligence Fintech and Financial Inclusion written by Rajat Gera and published by CRC Press. This book was released on 2023-12-29 with total page 179 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book covers big data, machine learning, and artificial intelligence-related technologies and how these technologies can enable the design, development, and delivery of customer-focused financial services to both corporate and retail customers, as well as how to extend the benefits to the financially excluded sections of society. Artificial Intelligence, Fintech, and Financial Inclusion describes the applications of big data and its tools such as artificial intelligence and machine learning in products and services, marketing, risk management, and business operations. It also discusses the nature, sources, forms, and tools of big data and its potential applications in many industries for competitive advantage. The primary audience for the book includes practitioners, researchers, experts, graduate students, engineers, business leaders, and analysts researching contemporary issues in the area.

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 The Digital Financial Revolution in China written by David Dollar and published by Brookings Institution Press. This book was released on 2022-05-10 with total page 210 pages. Available in PDF, EPUB and Kindle. Book excerpt: Describes how China is in the lead in transforming finance for the digital age This book is the product of a joint research project between economists at the National School of Development, especially the affiliated Institute of Digital Finance, at Peking University and at the Brookings Institution. It investigates the impact of financial technology on job creation, income distribution, and consumer welfare in China. It also examines larger systemic issues such as monetary policy, stability of the banking sector, and international trade and payments.

Download or read book Proceedings of the 2nd International Academic Conference on Blockchain Information Technology and Smart Finance ICBIS 2023 written by Jerome Yen and published by Springer Nature. This book was released on 2023-07-25 with total page 1595 pages. Available in PDF, EPUB and Kindle. Book excerpt: This is an open access book.With the rapid development of modern economy and Internet technology, the traditional financial industry has to develop Internet finance to provide better services and meet the needs of the times. It is against this background that the blockchain, relying on its special advantages (collective maintenance, reliable databases, and decentralization), provides the reliability to solve the credit risk of Internet finance, has an impact on institutions, trust mechanisms, risk control, etc. in the Internet finance industry, and has derived more new application scenarios, thus paving the way for the development of finance in the Internet era. Applying blockchain technology to the financial field can promote data information sharing, improve value transmission efficiency, and enhance database security. The financial market based on the decentralized system of blockchain technology can reduce the operating costs of financial institutions, improve economic efficiency, and solve problems such as information asymmetry. The new financial business model of "blockchain+finance" is conducive to improving the Internet credit reporting system, preventing and controlling Internet financial risks, and further realizing "financial disintermediation". At present, in China's financial field, blockchain technology has been applied and innovated in supply chain finance, cross-border payment, trade finance, asset securitization and other scenarios. To promote the exchange and development of blockchain, information technology and financial experts and scholars. The 2nd International Academic Conference on Blockchain, Information Technology and Smart Finance (ICBIS 2023) will be held in Hangzhou from February 17 to 19, 2023. This conference mainly focuses on the latest research on "blockchain, information technology and smart finance". This conference brings together experts, scholars, researchers and relevant practitioners in this field from all over the world to share research results, discuss hot issues, and provide participants with cutting-edge scientific and technological information, so that you can timely understand the development trends of the industry and master the latest technologies, broaden research horizons and promote academic progress.

Download or read book Understanding Cybersecurity Management in FinTech written by Gurdip Kaur and published by Springer Nature. This book was released on 2021-08-04 with total page 193 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book uncovers the idea of understanding cybersecurity management in FinTech. It commences with introducing fundamentals of FinTech and cybersecurity to readers. It emphasizes on the importance of cybersecurity for financial institutions by illustrating recent cyber breaches, attacks, and financial losses. The book delves into understanding cyber threats and adversaries who can exploit those threats. It advances with cybersecurity threat, vulnerability, and risk management in FinTech. The book helps readers understand cyber threat landscape comprising different threat categories that can exploit different types of vulnerabilties identified in FinTech. It puts forward prominent threat modelling strategies by focusing on attackers, assets, and software and addresses the challenges in managing cyber risks in FinTech. The authors discuss detailed cybersecurity policies and strategies that can be used to secure financial institutions and provide recommendations to secure financial institutions from cyber-attacks.

Download or read book FinTech Financial Inclusion and Sustainable Development written by David Mhlanga and published by Taylor & Francis. This book was released on 2024-09-16 with total page 290 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book explores the significant impact of FinTech on the financial industry and how it could be used to promote legitimate development in the global economy. It takes readers on an engaging tour of the field of FinTech, immersing them in a thorough investigation of the technological advancements, creative business models, and regulatory issues that define the FinTech landscape. The book begins by documenting the rise of FinTech, providing historical context, and highlighting key milestones. It delves into the numerous technologies that have fuelled the FinTech revolution and offers valuable insights into the ongoing evolution of the financial industry and its implications for individuals, businesses, and society. It explores topics such as microfinance, digital lending, social impact investing, and sustainable finance, signalling the ability of FinTech to foster financial inclusion, reduce poverty, and drive sustainable economic growth in developing economies. The book takes into account ethical as well as regulatory considerations, and the importance of striking a balance between innovation and consumer protection. The book offers a comparative regional perspective and provides case studies of successful FinTech organizations from across the world. It concludes by providing an in-depth exploration of future trends and predictions, with a specific focus on emerging technologies such as ChatGPT and their potential impact. This will be a useful reference for researchers, scholars, and students, concerned with the changing dynamics of the industry in an increasingly digital and interconnected world.

Download or read book Banking Credit Risk Management in the People s Republic of China written by Yiling Xing and published by . This book was released on 2006 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Download or read book Innovative Finance for Technological Progress written by Farhad Taghizadeh-Hesary and published by Taylor & Francis. This book was released on 2022-12-28 with total page 357 pages. Available in PDF, EPUB and Kindle. Book excerpt: Innovative businesses and startups contribute to job creation, economic growth, and technological advancement in most countries. Finance helps nurture innovative firms like startups. Unfortunately, most startups and innovative projects cannot secure finance through the usual and conventional methods. This book goes beyond traditional financing to explore innovative ways to help finance startups and novel businesses. The book covers institutional innovation, innovation in products and processes, and the recent progress in financial innovations in various countries through empirical and case studies. It gives an in-depth look at regulatory, policy frameworks, and risk assessments for financial innovations. It also assesses the role of various innovations, including Fintech, machine learning, big data, scoring models, credit databases, digital platforms, credit guarantees in funding startups, and novel technologies. This book offers valuable insights into how policymakers can nurture a more conducive ecosystem for startups and technologies through innovative finance.

Download or read book Fintech and Cryptocurrency written by Mohd Naved and published by John Wiley & Sons. This book was released on 2023-10-23 with total page 380 pages. Available in PDF, EPUB and Kindle. Book excerpt: FINTECH and CRYPTOCURRENCY Dive into the world of fintech and cryptocurrency through the engaging perspectives of this diverse group of authors and uncover the intricate connections between technology, finance, and cryptocurrency that make this a must-have for anyone intrigued by the future of digital society. Digital currencies, decentralization of money, and the growth of new technologies like blockchain, the Internet of Things, and machine learning have produced new opportunities and difficulties for banking and finance, as well as users of these services in electronic commerce. New banking and finance technologies may improve operational efficiency, risk management, compliance, and client pleasure, but they can decrease barriers and introduce new concerns, such as cybersecurity risk. Cryptocurrencies with smart contracts for payments and trading, as well as AI systems with adaptive algorithms that allow picture and speech recognition, expert judgement, group categorization, and forecasting in a variety of fields, are instances of increased automation. Simultaneously, the potentials pose risks and raise regulatory concerns. The rise of blockchain technology and its widespread use have had a significant impact on the operation and management of digital systems. At the same time, researchers and practitioners have paid close attention to digital finance. Blockchain’s first applications were limited to the production of digital currency, but it has now been expanded to include financial and commercial applications. Innovative digital finance has had a huge impact on business and society since it has been extensively adopted by businesses and consumers. As a result, the goal of this edited book is to expand and deepen our knowledge of the business possibilities of novel blockchain and digital financial applications.

Download or read book FinTech in Sub Saharan African Countries written by Mr.Amadou N Sy and published by International Monetary Fund. This book was released on 2019-02-14 with total page 61 pages. Available in PDF, EPUB and Kindle. Book excerpt: FinTech is a major force shaping the structure of the financial industry in sub-Saharan Africa. New technologies are being developed and implemented in sub-Saharan Africa with the potential to change the competitive landscape in the financial industry. While it raises concerns on the emergence of vulnerabilities, FinTech challenges traditional structures and creates efficiency gains by opening up the financial services value chain. Today, FinTech is emerging as a technological enabler in the region, improving financial inclusion and serving as a catalyst for the emergence of innovations in other sectors, such as agriculture and infrastructure.

Download or read book Digital Africa written by Tania Begazo and published by World Bank Publications. This book was released on 2023-04-04 with total page 348 pages. Available in PDF, EPUB and Kindle. Book excerpt: All African countries need better and more jobs for their growing populations. Digital Africa: Technological Transformation for Jobs shows that broader use of productivity-enhancing digital technologies by enterprises and households is imperative to generate such jobs, including for lower-skilled people. At the same time, broader use can support not only countries’ short-term objective of postpandemic economic recovery but also their vision of economic transformation with more inclusive growth. These outcomes are not automatic, however. Mobile internet availability has increased throughout the continent in recent years, but Africa’s uptake gap is the highest in the world. Areas with at least 3G mobile internet service now cover 84 percent of country populations averaged across Sub-Saharan Africa, but only 22 percent use such services. The average African business lags in the use of smartphones and computers, as well as more sophisticated digital technologies that catalyze further productivity gains. Two issues explain the usage gap: the affordability of these new technologies and the willingness to use them. For the 40 percent of Africans below the extreme poverty line, mobile data plans alone would cost one-third of their incomes—in addition to the price of access devices, apps, and electricity. Data plans for small and medium businesses are also more expensive than in other regions. Moreover, shortcomings in the quality of internet services—and in the supply of attractive, skill-appropriate apps that promote entrepreneurship and raise earnings—dampen people’s willingness to use them. For those countries already using these technologies, the development payoffs are significant. New empirical studies for this report add to the rapidly growing evidence that mobile internet availability directly raises enterprise productivity, increases jobs, and reduces poverty across Africa. To realize these and other benefits more widely, Africa’s countries must implement complementary and mutually reinforcing policies to strengthen both consumers’ ability to pay and willingness to use digital technologies. These interventions must prioritize productive use to generate large numbers of inclusive jobs in a region poised to benefit from a massive, youthful workforce—one projected to become the world’s largest by the end of this century.

Download or read book China s Digital Economy Opportunities and Risks written by Ms.Longmei Zhang and published by International Monetary Fund. This book was released on 2019-01-17 with total page 24 pages. Available in PDF, EPUB and Kindle. Book excerpt: China’s digital economy has expanded rapidly in recent years. While average digitalization of the economy remains lower than in advanced economies, digitalization is already high in certain regions and sectors, in particular e-commerce and fintech, and costal regions. Such transformation has boosted productivity growth, with varying impact on employment across sectors. Going forward, digitalization will continue to reshape the Chinese economy by improving efficiency, softening though not reversing, the downward trend of potential growth as the economy matures. The government should play a vital role in maximizing the benefits of digitalization while minimizing related risks, such as potential labor disruption, privacy infringement, emerging oligopolies, and financial risks.

Download or read book Afrique num rique written by Tania Begazo and published by World Bank Publications. This book was released on 2023-08-08 with total page 403 pages. Available in PDF, EPUB and Kindle. Book excerpt: Tous les pays africains ont besoin d'avantage d'emplois de qualité pour leurs populations croissantes. Le rapport « Afrique numérique : Transformation technologique pour l’emploi » montre qu'une utilisation plus large, par les entreprises et les ménages, des technologies numériques génératrices de productivité est impérative afin de générer de tels emplois, y compris pour les personnes peu qualifiées. Dans le même temps, cette démarche peut soutenir non seulement l'objectif à court terme de reprise économique postpandémique des pays, mais aussi leur vision d'une transformation économique assortie d’une croissance plus inclusive. Cependant, ces résultats ne seront pas automatiques. La disponibilité de l'internet mobile a augmenté sur l’ensemble du continent ces dernières années, mais l'écart d'utilisation est le plus élevé au monde. Les zones disposant d'au moins un service internet mobile 3G couvrent désormais 84 % en moyenne de la population des pays d'Afrique subsaharienne, mais seulement 22 % utilisent ces services. Et l'entreprise africaine moyenne accuse un certain retard en matière d'utilisation de smartphones et d’ordinateurs, ainsi que de technologies numériques plus sophistiquées qui contribuent à obtenir de nouveaux gains de productivité. Deux problèmes expliquent cet écart d'utilisation : l'absence d'abordabilité de ces nouvelles technologies et la de les utiliser. Pour les 40 % d'Africains qui vivent en dessous du seuil de pauvreté extrême, les forfaits de données mobiles coûteraient à eux seuls un tiers de leurs revenus, en plus du prix des appareils d'accès, des applications et de l'électricité. Les forfaits de données pour les petites et moyennes entreprises sont également plus chers que dans d'autres régions. De plus, la qualité des services internet †“ de même que la fourniture d'applications attrayantes et adaptées aux compétences qui favorisent l'entrepreneuriat et augmentent les revenus †“ présente des lacunes qui freinent la volonté des entreprises et populations de les utiliser. Pour les pays qui utilisent déjà ces technologies, les retombées du développement sont importantes. De nouvelles études empiriques réalisées pour le présent rapport s'ajoutent aux données sans cesse croissantes qui démontrent que la disponibilité de l'internet mobile augmente directement la productivité des entreprises, accroît le nombre des emplois, et réduit la pauvreté à travers l'Afrique. Pour que ces bénéfices ainsi que d'autres avantages se concrétisent plus largement, les pays africains doivent mettre en oeuvre des politiques complémentaires et synergiques afin de renforcer à la fois la capacité de payer des consommateurs et leur volonté d'utiliser les technologies numériques. Ces interventions doivent accorder la priorité à une utilisation productive en vue de générer un grand nombre d'emplois inclusifs dans une région sur le point de bénéficier d'une main-d'oeuvre massive et jeune, laquelle est appelée à devenir la plus importante du monde d'ici la fin du siècle.

Download or read book Digital Transformation in Islamic Finance written by Yasushi Suzuki and published by Taylor & Francis. This book was released on 2022-12-30 with total page 301 pages. Available in PDF, EPUB and Kindle. Book excerpt: The ongoing digital transformation is shaping the Islamic mode of financial intermediation and the impact on the faith-based financial mode has been multifaceted. This has raised a host of interesting questions: what is the degree of penetration of Islamic finance in the fintech industry? Are Islamic financial institutions (IFIs) or banks ready to embrace fintech? Is fintech an enabler or barrier to achieve the intended purpose of Islamic finance? Will technology narrow the division between Islamic and conventional finance in the future? These are existential questions for Islamic finance and the book endeavors to examine the impact of financial technology on the industry. The book assesses various fintech business models and how they could be a threat or an opportunity. It also examines whether fintech provides IFIs an edge to serve clients following the Shariah norms and how the adoption of fintech in the Islamic mode is required for meeting the maqasid Al Shariah. The book discusses applicability of fintech like blockchain, digital currency, big data, and AI to different branches of Islamic finance. This book will interest students, analysts, policymakers, and regulators who are working on Islamic finance, financial economics, Islamic economics, and development finance.

Download or read book World Development Report 2022 written by World Bank and published by World Bank Publications. This book was released on 2022-05-14 with total page 405 pages. Available in PDF, EPUB and Kindle. Book excerpt: The COVID-19 pandemic triggered the largest global economic crisis in more than a century. In 2020, economic activity contracted in 90 percent of countries, the world economy shrank by about 3 percent, and global poverty increased for the first time in a generation. Governments responded rapidly with fiscal, monetary, and financial policies that alleviated the worst immediate economic impacts of the crisis. Yet the world must still contend with the significant longer-term financial and economic risks caused by, or exacerbated by, the pandemic and the government responses needed to mitigate its effects. World Development Report 2022: Finance for an Equitable Recovery examines the central role of finance in the economic recovery from COVID-19. Based on an in-depth look at the consequences of the crisis most likely to affect low- and middle-income economies, it advocates a set of policies and measures to mitigate the interconnected economic risks stemming from the pandemic—risks that may become more acute as stimulus measures are withdrawn at both the domestic and global levels. Those policies include the efficient and transparent management of nonperforming loans to mitigate threats to financial stability, insolvency reforms to allow for the orderly reduction of unsustainable debts, innovations in risk management and lending models to ensure continued access to credit for households and businesses, and improvements in sovereign debt management to preserve the ability of governments to support an equitable recovery.

Download or read book People s Republic of China Selected Issues written by International Monetary and published by International Monetary Fund. This book was released on 2022-02-04 with total page 83 pages. Available in PDF, EPUB and Kindle. Book excerpt: Selected Issues