Digitalization of banking services and methodology for building and functioning of Fintech companies

In the world of banking services, some sustainable trends have been observed globally in recent years, which strongly influence the forms of banking organization. In many cases, fintech companies are joining forces with banks to pursue a new common business, in which customer interaction is mainly through electronic means of communication. Very often it relies on the synergistic effect that leads to an increase in the efficiency of work of each business partner and the work on the common project as a whole. A major component in the digitization of banking services is the mobile or web-based information system through which employees and customers work. Fintech companies place qualitatively new requirements on the managers who manage such business structures. In addition to knowledge and experience in the field of financial instruments, a thorough knowledge of information technology is also required

Prospects of Mobile Search

Search faces (at least) two major challenges. One is to improve efficiency of retrieving relevant content for all digital formats (images, audio, video, 3D shapes, etc). The second is making relevant information retrievable in a range of platforms, particularly in high diffusion ones as mobiles. The two challenges are interrelated but distinct. This report aims at assessing the potential of future Mobile Search. Two broad groups of search-based applications can be identified. The first one is the adaptation and emulation of web search processes and services to the mobile environment. The second one is services exploiting the unique features of the mobile devices and the mobile environments. Examples of these context-aware services include location-based services or interfacing to the internet of things (RFID networks). The report starts by providing an introduction to mobile search. It highlights differences and commonalities with search technologies on other platforms (Chapter 1). Chapter 2 is devoted to the supply side of mobile search markets. It describes mobile markets, presents key figures and gives an outline of main business models and players. Chapter 3 is dedicated to the demand side of the market. It studies users¿ acceptance and demand using the results on a case study in Sweden. Chapter 4 presents emerging trends in technology and markets that could shape mobile search. It is the author's view after discussing with many experts. One input to this discussion was the analysis of on forward-looking scenarios for mobile developed by the authors (Chapter 5). Experts were asked to evaluate these scenarios. Another input was a questionnaire to which 61 experts responded. Drivers, barriers and enablers for mobile search have been synthesised into SWOT analysis. The report concludes with some policy recommendations in view of the likely socio-economic implications of mobile search in Europe.JRC.DG.J.4-Information Societ

The Impact of IT on the Banking Productivity

There has been much debate on whether the investment in Information Technology provides improvements in productivity and business efficiency of banks and, weather the usage of the opportunities of Digital Technologies to better serve customers and achieve firm goals the proliferation of technologies offers vast new opportunities. This paper investigates the impact of ICT capital on productivity in banks. For the analysis, data from various research reports, and reliable studies on banking efficiency and productivity and digitalization of their services are employed. The results obtained shed some light on the relative impact of ICT capital, and provide new insights about the structural dynamics between these factor inputs. We find that the banks as financial service sectors in developed countries are quite similar in terms of efficiency, and that efficiency and productivity depends more and more on ICT capital. Although, the financial services industry and banks in particular increasingly invest in technologies to improve their online banking and more recently their mobile payment solutions, the Serbian case, as banking sector in transition countries, shows slower implementation of new digital trends in operational activities of the banks. At the same time, banks use tools such as social networks, digital tools kits, online competitions, online advertising campaigns, mobile apps, location-based services and online market research to connect with customers. The paper also provides an overview of digital trends in general and the banking industry in particular and best practices how digital media tools are helpful to achieve marketing goals, and ultimately generate higher revenues at lower costs. The contribution of the paper can be seen also in: Deeping the understanding of (stationary and mobile) digital technologies in the marketing tool box; Further exploring the digital landscape and the types of digital customers in the banking industry, and in discussions the cases of the introduction of a mobile payment system

Prospects for financial technology for health in Africa

Over the years, technology has revolutionized the operations of many industries, ranging from manufacturing and agriculture to financial institutions which are usually the first users of innovations. Owing to the recent technological trends in the financial sector, such as mobile money, artificial intelligence, and medical robotics, as well as the rapidly increasing human population and the emergence of new patterns of disease, it is necessary for the healthcare sector to adopt new strategies to deliver efficient and effective healthcare services. Financial technology (FinTech), a combination of financial services and technology, entails the incorporation of modern, innovative technologies by industries into their financial services. FinTech is an endless array of applications, products, and services which includes mobile banking, cryptocurrency, insurance, and investment apps among many others. Any enterprise that employs technology to enhance or automate financial services and processes is referred to as FinTech. This fast-growing industry serves the interests of both the business sector and the consuming public. There have been many applications and uses of FinTech, however, its employment in the field of health remains to be explored further and maximized, particularly in the developing world like Africa. This paper aims to explore the prospects of FinTech for healthcare in Africa

The “bi-directional” influence between technology and society: how M-PESA is shaping and being shaped by society in Kenya

M-PESA (a mobile banking service in Kenya) was introduced to offer a person-to-person money transfer service. Its extensive adoption and appropriation for purposes other than person-to-person transfers has influenced the technology providers (Safaricom) to widen their services beyond their original intentions. M-PESA provides a wide range of financial services including services for people who were previously unbanked. Users of M-PESA can now pay different utilities, those without credit cards can purchase products online, others can repay loans to microfinance institutions, pay insurance premiums, withdraw money from ATMs, use it as Point of Sale Payment and open savings accounts. This research examines the existence of “bi-directional” influences between technology and society by taking M-PESA business users as a case. It specifically investigates how M-PESA as a technology has influenced the business environment in Kenya and how the design of M-PESA has in turn been influenced by its adoption. The research adopts the Adaptive Structuration Theory as the theoretical framework and interpretive case study research as a methodological approach. Interviews with different stakeholders in the industry were used to collect data. Data was analyzed using Diachronic Analysis. The results of the research show that there is a “bi-directional” influence between technology and people as they affect each other over time. Mobile technologies shape the way businesses operate, allowing them to provide new services and improve existing ones. At the same time, usage and adoption trends affect the design of mobile technologies. Over time, technology is adapted to accommodate the new needs of businesses and other needs in the wider community. This research shows that the impact of technology depends not only on its functionality but also on its use and appropriation in society.Dissertation (MCom)--University of Pretoria, 2011.Informaticsunrestricte

Harnessing Technology: analysis of emerging trends affecting the use of technology in education (September 2008)

Research to support the delivery and development of Harnessing Technology: Next Generation Learning 2008–1

Impact factors for mobile internet applications in the agri-food sectors

Mobile communication and the mobile Internet can provide important opportunities, economic advantages for enterprises end organisations and support their more efficient operating as they can be used anytime and anywhere. We can make their wide spread use, innovative effects and advantages economical if we consider the effect system of technologies and services. The technological, social and economical complex effect system puts a pressure on the spreading of business applications. The types of applicable equipment are increasing. According to social aspects there are four player groups: manufacturers, enterprises, customers and workers. The Internet technology and the Internet network have become essential communication tools in business processes recently. Using the Internet by means of mobile appliances increases the possibilities. By studying the business process the expenses, advantages, disadvantages can well be seen. Nowadays these applications are more and more successful in areas such as agriculture, different parts of the food industry, extension services, precision agriculture and logistics. It can be stated that the international and the Hungarian development tendencies of the mobile Internet, the RTD Programmes of EU help the wide-spread use of mobile services. The rapid development of the Hungarian domestic mobile market over the last years is the basis for the wide spread use of new broadband mobile services and applications. This system can contribute to the development of agriculture, enterprises and rural areas and can support production, commerce, services and product tracing. But for successful applications we have to consider the impact factors

Impacts for m-Internet applications and perspectives in agriculture

Mobile communication and the mobile Internet can provide important opportunities, economic advantages for enterprises end organisations and support their more efficient operating as they can use it anytime and anywhere. We can make their wide spread usage, innovation effect and advantages economical way if we consider the effect system of technologies and services. The technological, social and economical complex effect system puts pressure on spreading of business applications. The types of applicable equipment are increasing. There can be found four player groups according to social aspects: manufacturers, enterprises, customers and workers. The Internet technology and the Internet network have become essential communication tools in business processes recently. Using the Internet by means of mobile appliances increases the possibilities. If we study the business process the expenses, advantages, disadvantages can be seen well. Nowadays these applications are more and more successful in the following areas such as in agriculture, in different parts of food industry, in extension services, precision agriculture, logistics

Business Case and Technology Analysis for 5G Low Latency Applications

A large number of new consumer and industrial applications are likely to change the classic operator's business models and provide a wide range of new markets to enter. This article analyses the most relevant 5G use cases that require ultra-low latency, from both technical and business perspectives. Low latency services pose challenging requirements to the network, and to fulfill them operators need to invest in costly changes in their network. In this sense, it is not clear whether such investments are going to be amortized with these new business models. In light of this, specific applications and requirements are described and the potential market benefits for operators are analysed. Conclusions show that operators have clear opportunities to add value and position themselves strongly with the increasing number of services to be provided by 5G.Comment: 18 pages, 5 figure