FinTech ecosystem as an instrument of sustainable development provision

Purpose: The article aims to determine the relationship between the FinTech ecosystem and ensuring a stable path of economic growth in the context of digitalization. The transition to digitalization of the financial sector is accompanied by a fundamentally new, qualitative transformation of socioeconomic relations in society. Design/Methodology/Approach: As part of the study, the concept of FinTech was considered both in the context of technological innovation and in the context of companies utilizing these innovations in business, as well as the systematization of business models of the FinTech industry. The classification of horizontal and vertical innovations of the financial industry is given. The authors presented the structure of the FinTech ecosystem as an instrument for ensuring sustainable. Findings: For the successful development of the FinTech ecosystem, the authors of the study presented a number of initiatives, the implementation of which will ensure the maintenance of the financial system stability, protection of consumer rights, as well as the digital innovations’ development and implementation. Practical Implications: The formation of a sustainable digital financial infrastructure tends to ensure the effective provision of services in the financial market, including for small and medium-sized companies, which will increase the availability of financial services and promote competition in the financial sector. Originality/Value: The key contribution of the study is the ecosystem approach, which allowed determining the possibilities of safe sustainable development of the financial sector.peer-reviewe

Digitization trends in hospitality and tourism

This paper discusses the main trends that digitalization has brought about in hospitality and tourism. The basic approaches of Industry 4.0 and the processes and levels of technification are presented, as well as the digitization that has taken place in the tourism sector, highlighting the main technologies such as digital applications, mobile devices, Big Data, the internet of things, virtual assistants, the cloud, virtual and augmented reality, robots and chatbots, as well as new designations for tourism activities, such as smart tourism and e-tourism.

On the innovation mechanisms of fintech start-ups: insights from Swift's innotribe competition

The emergence of nascent forms of financial technology around the globe is driven by efforts to deconstruct and reimagine business models historically embedded within financial services. Entrepreneurial endeavors to this end are diverse. Indeed, the propensity towards complexity across the fintech landscape is considerable. Bridging as it does a diverse range of financial ser-vices, markets, innovations, industry participants, infrastructures and technologies. This study aims to improve the comprehension of the global fintech landscape. It is based on the analysis of start-ups who participated in SWIFT’s Innotribe competition over a three-year period. We used cluster analysis to group 402 fintech start-up firms, and then selected representative cases to create a foundational understanding of the structure of the fintech landscape. We found that six clusters capture the variety of firms and their activities. The main findings of this work are: (1) the development of fintech clusters to classify core services, business infrastructures and underlying component technologies, which characterize the fintech landscape; (2) an analysis of how fintechs synthesize different technologies to restructure and coordinate flows of financial information through competitive and cooperative mechanisms of disintermediation, extension of access, financialization, hybridization and personalization; (3) an analysis of related strate-gies for value creation connected with the competitive and cooperative mechanisms that were identified. Collectively, our results offer new insights into the diversity and range of emergent innovations and technologies which are transforming the financial services industry worldwide

E-Commerce Technology and Some Applications

Latest and dependable way to deliver electronic transactions by computer to computer communication combined with (JIT) ; Just in time manufacturing methods; EDI and email used for many years. e-commerce is a transaction of buying or selling online. Electronic commerce draws on technologies such as mobile commerce, electronic funds transfer, supply chain management, Internet marketing, online transaction processing, electronic data interchange (EDI), inventory management systems, and automated data collection systems

What determines FinTech success? — A taxonomy-based analysis of FinTech success factors

Value creation in the financial services sector has been fundamentally transformed by digitally born financial technology (FinTech) companies. FinTech companies synthesize information systems with financial services. Given its disruptive power, the FinTech phenomenon has received great attention in academic research, practice, and media. Still, limited systematic research provides a structure and holistic view of FinTechs’ success. Aiming to enhance understanding of the factors enabling FinTech success, we classify success factors across extant scientific literature on distinct FinTech business model archetypes. Our analysis reveals that the “cost–benefit dynamic of the innovation,” “technology adoption,” “security, privacy, and transparency,” “user trust,” “user-perceived quality,” and “industry rivalry” are crucial factors for FinTech success and can be seen as “grand challenges” for the FinTech ecosystem. In addition, we validate and discuss our findings with real-world examples from the FinTech industry and two interviews with stakeholders from the FinTech ecosystem. Our study contributes to the knowledge of FinTechs by providing a classification system of success factors for practitioners and researchers

The State of the Electronic Identity Market: Technologies, Infrastructure, Services and Policies

Authenticating onto systems, connecting to mobile networks and providing identity data to access services is common ground for most EU citizens, however what is disruptive is that digital technologies fundamentally alter and upset the ways identity is managed, by people, companies and governments. Technological progress in cryptography, identity systems design, smart card design and mobile phone authentication have been developed as a convenient and reliable answer to the need for authentication. Yet, these advances ar enot sufficient to satisfy the needs across people's many spheres of activity: work, leisure, health, social activities nor have they been used to enable cross-border service implementation in the Single Digital Market, or to ensure trust in cross border eCommerce. The study findings assert that the potentially great added value of eID technologies in enabling the Digital Economy has not yet been fulfilled, and fresh efforts are needed to build identification and authentication systems that people can live with, trust and use. The study finds that usability, minimum disclosure and portability, essential features of future systems, are at the margin of the market and cross-country, cross-sector eID systems for business and public service are only in their infancy. This report joins up the dots, and provides significant exploratory evidence of the potential of eID for the Single Digital Market. A clear understanding of this market is crucial for policy action on identification and authentication, eSignature and interoperability.JRC.DDG.J.4-Information Societ

Building Digital Identities: The Challenges, Risks and Opportunities of Collecting Behavioural Attributes for new Digital Identity Systems.

The provision of legal identity for all is increasingly viewed as a key mechanism for driving development goals. Behavioural attributes produced through digital interactions may have significant potential for enabling access to a legal identity for all, however the social, legal, and technical affordances and implications remain under-explored.University of Exeter and CoelitionEconomic and Social Research Council (ESRC

JAVNO FINANCIJSKO PRAVO I DIGITALNA EKONOMIJA

Finance has become an active area of the application of these technologies. As a result, the emergence of new institutions and the modernization of the existing ones, based on new technological breakthrough of humanity, which undoubtedly affect already existing institutions, and which are subject to change under their influence. The aim of this paper is to define the list of unresolved issues in the theory of the financial law that exist in relation to the nature of the technologies used and innovation (“fintech”) in the field of the public finance and the means of legal regulation of the public finance.Financije su postale aktivno područje primjene ovih tehnologija. Kao rezultat toga, pojavljuju se nove institucije i moderniziraju postojeće, temeljene na novom tehnološkom prodoru čovječanstva, koji nesumnjivo utječe na već postojeće institucije, a koje su pod utjecajem promjena. Cilj ovog rada je definirati popis neriješenih pitanja u teoriji financijskog prava koja postoje u odnosu na prirodu korištenih tehnologija i inovacija („fintech“) u području javnih financija i sredstava pravnih reguliranja javnih financija