Download or read book Mobile Financial Services for Economically Vulnerable and Underserved Consumers written by Oscar Cortez and published by Nova Science Publishers. This book was released on 2016 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: The consumer financial services market has seen the increasing use and proliferation of mobile technology to access financial services and manage personal finances. The Consumer Financial Protection Bureau's Office of Financial Empowerment issued a Request for Information (RFI) to find out more about mobile financial services and how low-income and economically vulnerable consumers are using them. This book provides a description of mobile financial services, a discussion of the opportunities and risks, and key takeaways from the comments. Furthermore, this book considers the ability of mobile financial services to increase financial inclusion among the underserved by providing them access to the banking system, retaining them in safe and sustainable account relationships, and fostering financial empowerment to improve financial stability and fulfill financial goals.
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 Psychology of Financial Consumer Behavior written by Dominika Maison and published by Springer. This book was released on 2019-02-28 with total page 236 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book stresses the psychological perspective in explaining financial behavior. Traditionally, financial behaviors such as saving, spending, and investing have been explained using demographic and economic factors such as income and product pricing. The consequence of this way of thinking is that financial institutions view their clients mostly from the perspective of their income. By taking a psychological approach, this book stresses the perspective of consumers confronted with a quickly changing financial world: the changing of financial offers and products (savings, investments, loans), the changing of payment methods (from cash to cheques, cards and mobile payments), the accessibility and temptation of goods, and the changing of insurance and pension systems. The Psychology of Financial Consumer Behavior provides insight into the thought processes of consumers in a variety of financial topics. Coverage includes perceptions of wealth, the pleasure or pain of spending, cashless transactions, saving and investing, loans, planning for the future, taxes, and financial education. The book holds appeal for researchers, professionals, and students in economics, psychology, economic psychology, marketing and consumer science, or anyone interested in financial behaviors.
Download or read book Financial Inclusion at the Bottom of the Pyramid written by Carol Realini and published by FriesenPress. This book was released on 2015-07-15 with total page 149 pages. Available in PDF, EPUB and Kindle. Book excerpt: As incredible as it may seem in this hyper-connected, technologically advanced era, half the planet’s population exist as “Financial nomads”—those who nourish and shelter themselves without using traditional banking services. While the wealthy live at the top of a metaphorical pyramid, taking financial security and banking services for granted, there are billions of people who struggle at the pyramid’s base in an exhausting state of financial exclusion and insecurity. Times are changing rapidly, but despite global uncertainty, technology has the capacity to reach and equip people in all walks of life. Advances in communications have reconfigured the ease with which we interact with our money—and these advances can provide innovative financial services to the unbanked and underserved around the world. Financial inclusion for all is indeed within our reach, and with this conviction, authors Karl Mehta and Carol Realini propose a vision for a better world and a blueprint to get there. www.carolrealini.com
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 Modernizing the Telephone Consumer Protection Act written by United States. Congress. House. Committee on Energy and Commerce. Subcommittee on Communications and Technology and published by . This book was released on 2017 with total page 140 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Financial Inclusion Mobile Money and Regulatory Architecture written by Martina Metzger and published by . This book was released on 2022 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper discusses first the role of mobile money accounts to enhance financial inclusion towards vulnerable groups in developing countries in the light of recent empirical evidence. Second, we explore the role of regulation to address risks to consumers and the financial system arising from the use of mobile money accounts, a question which has not been thoroughly addressed in the literature. Although financial inclusion via mobile money accounts is increasing, the outreach to particular disadvantaged and poor groups is still limited. However, remittances and G2P payments might develop into game changers for financial inclusion of poor and vulnerable households. Many countries from Sub-Saharan Africa are outperformers in terms of use of mobile money accounts in comparison to developing countries in other regions. Strikingly, the empirical evidence suggests that the regulatory landscape was of strategic importance to unleash the developmental potential of mobile money networks and the crowding-in of formerly unbanked households. Regulation on consumer protection particularly is of strategic relevance for the lasting acceptance and smooth operation of mobile money services and sharing the benefits with disadvantaged and poor households. A lack of effective and convincing consumer safeguards in place could diminish the trust in mobile money services and subsequently their acceptance and use. As mobile money services involve similar risks as traditional banking services, similar rules should apply. In addition, there are risks arising from the particular technology for mobile money account holders and institutions of the financial sector, including DFS providers. To these risks belong hysteresis effects to the disadvantage of poor households due to the use of alternative data and biased algorithms as well as displacement effects in local traditional and digital financial services due to BigTech.
Download or read book Banking Law and Regulation 2nd Edition written by Malloy and published by Wolters Kluwer. This book was released on 2019-02-22 with total page 4424 pages. Available in PDF, EPUB and Kindle. Book excerpt: Employment Law Update, 2019 Edition analyzes recent developments in case law of interest to employment law practitioners representing plaintiffs, defendants, and labor unions and comprehensively covers recent developments in the rapidly changing employment and labor law field. Comprised of ten chapters - each written by an expert in employment law - this updated edition provides timely, incisive analysis of critical issues. Employment Law Update, 2019 Edition provides, where appropriate, checklists, forms, and guidance on strategic considerations for litigation and other forms of dispute resolution. Some of the new material discussed in this 2019 Edition includes: How the U.S. Department of Labor enforces federal whistleblower statutes Recent case law circumscribing arbitration, which can, potentially, deprive non-union workers of fundamental statutory and constitutional rights Recent German embrace of minimum wage law Efforts by legislatures, administrative agencies, courts, and public interest groups to transform the "soft law" of the U.N. Guiding Principles on Business and Human Rights into "hard law" binding multinational corporations Special problems relating to aviation personnel who blow the whistle Protection for disabled veterans under the ADA and the USERRA Evolving framework for enforcing the rights of the LGBT population Transnational labor law applicable to expatriates Application of multinational firms' codes of conduct across national borders Application of differing systems of employee rights and obligations to floating employees Previous Edition: Employment Law Update, 2018 Edition ISBN 9781454898931
Download or read book Discrimination Vulnerable Consumers and Financial Inclusion written by Cătălin-Gabriel Stănescu and published by Routledge. This book was released on 2020-12-28 with total page 291 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book addresses the questions of discrimination, vulnerable consumers, and financial inclusion in the light of the emerging legal, socioeconomic, and technological challenges. New technologies – such as artificial intelligence-driven consumer credit risk assessment and Fintech platforms, the changing nature of vulnerability due to the ongoing COVID-19 pandemic, as well as the sophistication of digital technologies, which help circumvent legal barriers and protections – necessitate the continuous study of the existing legal frameworks and measures that are capable of tackling these challenges. Organized in two major parts, the first addresses, from multiple national angles, the idea of a human rights approach to consumer law, in order to replace the mantra of economic efficiency that characterizes financial services with those of human dignity and freedom from discrimination and from debt-induced servitude. The second tackles the challenges posed by increased usage of technology in connection with financial services, which tends to solve, but also creates, additional issues for consumers in general, and for vulnerable groups in particular.
Download or read book Powering the Digital Economy Opportunities and Risks of Artificial Intelligence in Finance written by El Bachir Boukherouaa and published by International Monetary Fund. This book was released on 2021-10-22 with total page 35 pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper discusses the impact of the rapid adoption of artificial intelligence (AI) and machine learning (ML) in the financial sector. It highlights the benefits these technologies bring in terms of financial deepening and efficiency, while raising concerns about its potential in widening the digital divide between advanced and developing economies. The paper advances the discussion on the impact of this technology by distilling and categorizing the unique risks that it could pose to the integrity and stability of the financial system, policy challenges, and potential regulatory approaches. The evolving nature of this technology and its application in finance means that the full extent of its strengths and weaknesses is yet to be fully understood. Given the risk of unexpected pitfalls, countries will need to strengthen prudential oversight.
Download or read book Consumers and Mobile Financial Services 2016 written by Board of Governors of the Federal Reserv and published by Createspace Independent Publishing Platform. This book was released on 2016-07-18 with total page 82 pages. Available in PDF, EPUB and Kindle. Book excerpt: Mobile phones have increasingly become tools that consumers use for banking, payments, budgeting, and shopping. Given the rapid pace of change in the area of mobile finance, the Federal Reserve Board began conducting annual surveys of consumers' use of mobile financial services in 2011. The series examines trends in the adoption and use of mobile banking, payments, and shopping behavior and how the evolution of mobile financial services affects consumers' interaction with financial institutions. This report presents findings from the latest survey, fielded in November 2015, which focused on consumers' use of mobile technology to access financial services and make financial decisions. Where applicable, the findings from the current survey are also compared with the findings from previous surveys. Topics include consumer access to bank services using mobile phones ("mobile banking"), consumer payment for goods and services using mobile phones ("mobile payments"), mobile security, and consumer financial management and shopping decisions facilitated by the use of mobile phones. Details about the survey, its methodology, and limitations can be found in the body of the report and in a methodological appendix.
Download or read book Banking Law and Regulation written by Malloy and published by Aspen Publishers Online. This book was released on 1987 with total page 4496 pages. Available in PDF, EPUB and Kindle. Book excerpt:
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 Financial Capability and Asset Building in Vulnerable Households written by Margaret Sherraden and published by Oxford University Press. This book was released on 2018-04-26 with total page 600 pages. Available in PDF, EPUB and Kindle. Book excerpt: Financial struggles of American families are headline news. In communities across the nation, families feel the pinch of stagnant and sometimes declining incomes. Many have not recovered from the Great Recession, when millions lost their homes and retirement savings. They are bombarded daily with vexing financial decisions: Which bills to pay? Where to cash checks? How to cover an emergency? How to improve a credit report? How to bank online? How to save for the future? Low- and moderate-income families have few places to turn for guidance on financial matters. Not many can afford to pay a financial advisor to help navigate an increasingly complex financial world. They do their best with advice from family and trusted individuals. Social workers, financial counselors, and human services professionals can help. As "first responders," they assist families and help in finding financial support from public and private sources. But these professionals are too often unprepared to address the full range of financial troubles of ordinary working families. Financial Capability and Asset Building in Vulnerable Households prepares social workers, financial counselors, and other human service professionals for financial practice with vulnerable families. Building on more than 20 years of research, the book sets the stage with key concepts, historical antecedents, and current financial challenges of families in America. It provides knowledge and tools to assist families in pressing financial circumstances, and offers a lifespan perspective of financial capability and environmental influences on financial behaviors and actions. Furthermore, the text details practice principles and skills for direct interventions, as well as for designing financial services and policy innovations. It is an essential resource for preparing the next generation of practitioners who can enable families to achieve economic security and development.
Download or read book Fintech Inclusive Growth and Cyber Risks Focus on the MENAP and CCA Regions written by Ms.Inutu Lukonga and published by International Monetary Fund. This book was released on 2018-09-11 with total page 51 pages. Available in PDF, EPUB and Kindle. Book excerpt: Financial technology (fintech) is emerging as an innovative way to achieve financial inclusion and the broader objective of inclusive growth. Thus far, fintech in the MENAP and CCA remains below potential with limited impact on financial inclusion. This paper reviews the fintech landscape in the MENAP and CCA regions, identifies the constraints to the growth of fintech and its contribution to inclusive growth and considers policy options to unlock the potential.
Download or read book Financial Technology written by United States Government Accountability Office and published by Createspace Independent Publishing Platform. This book was released on 2017-12-25 with total page 72 pages. Available in PDF, EPUB and Kindle. Book excerpt: FINANCIAL TECHNOLOGY: Information on Subsectors and Regulatory Oversight
Download or read book Reaching the Unreached written by Dr. Martina Mutheu and published by Exceller Books. This book was released on with total page 72 pages. Available in PDF, EPUB and Kindle. Book excerpt: Mobile Money was introduced in Kenya in 2007 through the launch of the M-PESA Mobile Money transfer service by Safaricom. Since its inception, M-PESA has seen unprecedented growth with many other players partnering or riding on its infrastructure to offer their services. Among these are savings and credit, mobile banking, digital lending, bill payments, and insurance among others. This book traces the journey of mobile money in Kenya; first documenting conditions before its launch, conditions necessitating its rapid adoption, partnership formation, financial inclusion and digital lending and thereafter making a case for mobile money as a promising model for financial inclusion.
