444 research outputs found

    Financial technology and inclusion in ASEAN

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    Financial inclusion technologies and bank performance: insights from Zimbabwe's banking sector

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    The study examined the effect of financial inclusion technologies on the financial performance of Zimbabwean banks. The study employs ATM, mobile banking (MB), internet banking (IB) and point of sale (POS) transactions on the financial performance of banks as measured by return on assets. The study adopted the explanatory design and the target population of the study consisted of all the 13 commercial banks in Zimbabwe, with the study period being six years, from 2013 to 2018. The panel data was estimated using fixed and random effects. The findings of the research indicated that all the commercial banks in Zimbabwe at the time of doing this study were using POS, ATM, Mobile banking and Internet banking as they adopted digital forms of banking. In terms of financial performance, banks have been able to increase their return on assets between the years 2013 and 2018. In terms of regression analysis, the findings indicate that for every 1% increase in Mobile banking, ATM and Internet banking there will be an accompanying 0.6%, 0.9%, and 0.5% increase in financial performance respectively while for every 1% increase in POS, there will be a 0.7% decrease in financial performance. Therefore, the research recommended banks to go a step ahead in being innovative through designing new products which will only be accessible to clients who access banking through digital banking methods. Also, the research recommends the government of Zimbabwe to put in place sound macro-economic policies for the whole economy to recover so that the commercial banks in Zimbabwe can fully utilize the benefits associated with digital banking

    COVID -19 Crisis in Africa: Leveraging FinTech and RegTech for Economic Recovery

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    The precise impact of the Covid-19 pandemic on African economies is still unknown, however if the crisis persists, it is likely to have huge economic ramifications on the continent. Financial Technology (FinTech), which has made a positive contribution in Africa can significantly support the recovery process after the crisis but the extent of its contribution will depend on a number of factors

    The Enigma of Mobile Money Systems

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    In this paper we argue that the success of mobile banking models represents an enigma in terms of their replicability to other countries. These models offer the opportunity to diminish the financial exclusion suffered by the poor by offering access to credit, savings, and transfers, which are key tools capable of transforming the livelihoods of the poor as well as the efficiency of the market. We show that mobile phones need a complete ecosystem that supports its application to a functioning mobile banking service. The aim of this paper is to contribute to existing knowledge of mobile money across the value chain by providing insight into the mechanisms of m-money and the value propositions within the business of m-banking. We develop a taxonomy of the key drivers of the business model to help assess the replicability of these models in other countries. We focus on models developed in Kenya, the Philippines, and Brazil, and explore if some of the conditions present in these models are lacking for a widespread adoption in other. We conclude, however, that there appears to be no set of clearly identifiable variables that serve as a basis for success and that those necessary conditions for the replication of m-banking models identified by the existing literature to other countries around the world do not guarantee results. Moreover, we find that some of these conditions are not present in countries where m-banking models have been successful.M-banking, financial inclusion, mobile applications, mobile opportunities, developing countries.

    Regulating FinTech: Lessons from Africa

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    Technological innovation in finance (“FinTech”) has been on the rise in recent years, creating new challenges for regulators. These challenges vary significantly depending on the region in question and type of economy, not least because different technologies are applied to tackle different problems. This Article focuses on regulatory frameworks of two leading jurisdictions in terms of FinTech development in Sub-Saharan Africa: Kenya and South Africa. As the developments in the region cannot be analyzed in isolation from the global trends in FinTech regulation, this Article approaches the matter systematically. It starts by clarifying the existing terminology and preparing a comprehensive matrix of various challenges in FinTech regulation: in doing so, it does not take the interests of innovation promotion for granted and adopts a balanced approach, weighing various—often mutually exclusive—considerations against each other. This Article also argues that rule of law challenges, rather than technical problems, remain the key obstacles to adequate FinTech regulation. It then proceeds to discuss the specific regulatory issues in two African jurisdictions that are current regional leaders in the FinTech space—Kenya and South Africa. Finally, this Article concludes by synthesizing a set of recommendations for improving the FinTech regulatory systems in the two countries, in the light of the earlier matrix of regulatory challenges. Many findings in this Article (such as the need for improved methodology of social and economic impact analyses and various policy considerations for structuring the FinTech regulation) are relevant outside the African context and have universal application

    Remittance flows to post-conflict states: perspectives on human security and development

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    This repository item contains a single issue of the Pardee Center Task Force Reports, a publication series that began publishing in 2009 by the Boston University Frederick S. Pardee Center for the Study of the Longer-Range Future.Migrant remittances – that is, money or other goods sent to relatives in the country of origin– play an increasingly central role in post-conflict reconstruction and national development of conflict-affected states. Private remittances are of central importance for restoring stability and enhancing human security in post-conflict countries. Yet the dynamics of conflict-induced remittance flows and the possibilities of leveraging remittances for post-conflict development have been sparsely researched to date. This Pardee Center Task Force Report is the outcome of an interdisciplinary research project organized by the Boston University Center for Finance, Law & Policy, in collaboration with The Frederick S. Pardee Center for the Study of the Longer-Range Future. The Task Force was convened by Boston University development economist John R. Harris and international banking expert Donald F. Terry, and social anthropologist Daivi Rodima-Taylor, Visiting Researcher at the Boston University African Studies Center, served as lead researcher and editor for the report. The Task Force was asked to research, analyze, and propose policy recommendations regarding the role of remittances in post-conflict environments and their potential to serve as a major source of development funds. The report’s authors collectively suggest a broader approach to remittance institutions that provides flexibility to adapt to specific local practices and to make broader institutional connections in an era of growing population displacement and expanding human and capital flows. Conditions for more productive use of migrants’ remittances are analyzed while drawing upon case studies from post-conflict countries in Africa, Asia and Latin America. The papers in this Task Force Report establish the importance of remittances for sustaining local livelihoods as well as rehabilitating institutional infrastructures and improving financial inclusion in post-conflict environments. Highlighting the increasing complexity of global remittance systems, the report examines the growing informality of conflict-induced remittance flows and explores solutions for more efficient linkages between financial institutions of different scales and degrees of formality. It discusses challenges to regulating international remittance transfers in the context of growing concerns about transparency, and documents the increasing role of diaspora networks and migrant associations in post-conflict co-development initiatives. The Task Force Report authors outline the main challenges to leveraging remittances for post-conflict development and make recommendations for further research and policy applications

    Global themes of the financial inclusion landscape

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    This paper gives a broad overview of the financial inclusion environment, and one that would prioritize the financial needs of women and youth. The key issues are addressed, as well as innovations, industry practices, and regulatory developments through the lens of women and youth. The paper highlights key macro issues to be factored into the overall design of the African Center for Economic Transformation (ACET) comparative study for three Sub-Saharan countries

    Volatility behavior of virtual currencies

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    In order to do a volatility analysis, since the exchange rate is higher than the average risk, the higher the average rate of return, the higher the average growth rate of the year. applied the method of data analysis. An attempt to volatility analysis can be made in one year, in the middle of the end of 2016

    Demonetization, the Movement to an Electronic Payments System and the inch towards Full Financial Inclusion in the Indian Economy

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    There is ever-growing evidence, and importance of Financial Inclusion in economic growth and development in emerging economies like India. However, there is little-to-no information about the role of institutions engaged in digitized payments in accelerating Financial Inclusion. This paper aims to study the effects of the recent Demonetization ordinance, and its impact on Financial Inclusion in 2016, as well as the impact on recent institutional policy announcements. Additionally, It aims to assess the potential benefits of a digitized payment ecosystem and its institutional framework, in response to orders made by the Government of India and The Reserve Bank of India in order to achieve full financial inclusion in the long-run
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