Charge Account Banking: A Study of Financial Innovation in the 1950s

Vanatta, Sean H.

doi:10.1017/eso.2017.42

Cited by 7 publications

(4 citation statements)

References 13 publications

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“…Similarly, Sean (2018) took into account the effects of artificial intelligence on the financial innovations of particular service organizations when analyzing the digitalization of business transactions through the use of blockchain and AI. The study investigated the use of a structured questionnaire in survey field research to get data from a subset of respondents.…”

Section: Artificial Intelligence and Financial Engineeringmentioning

confidence: 99%

The role of artificial intelligence and financial engineering for listed service companies in Nigeria

Ajah,

Akintoye,

Anaekenwa

et al. 2024

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This study examines the role of artificial intelligence (AI) in the financial engineering of listed service companies in Nigeria. The study used a survey field alongside secondary data from the financial statements of the service companies listed in the Nigerian Exchange Group. Self-structured questionnaires were administered through online platforms. The respondents were drawn from the staff of the service companies having access to AI and among the strata of practicing auditors and accountants with a clear understanding and good knowledge of AI applications and capabilities in solving financial engineering-related issues. The study utilized 487 validated responses in total. The Cronbach Alpha test was performed to confirm the validity and reliability of the instrument. Using the Statistical Program for the Social Sciences (SPSS) program, descriptive and inferential statistics were used to evaluate the obtained data. The results demonstrated that AI had a significant effect on product engineering and process engineering. Also, AI had a significant effect on financial solution engineering and, lastly, on human efficiency and productivity engineering in listed service companies in Nigeria. Managers can use the research findings to brace AI in business transactions to provide creative financial solutions, increased productivity, and increased competitiveness in the sector of digital service delivery.

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Section: Artificial Intelligence and Financial Engineeringmentioning

confidence: 99%

The role of artificial intelligence and financial engineering for listed service companies in Nigeria

Ajah,

Akintoye,

Anaekenwa

et al. 2024

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show abstract

“…The reason for the adoption of digital payment systems by customers depends on many factors, which influence the success rate of fintech payment models (Eka Putri et al 2019;Golubić 2019). The development of innovative technologies has made transactions amazingly fast and easy and results in the development of innovative methods of practicing prevailing functions digitally (Dermaku 2018;Vanatta 2018).…”

Section: Paymentsmentioning

confidence: 99%

Fintech Innovations in the Financial Service Industry

Mansurali

Ramakrishnan

Joghee

et al. 2022

JRFM

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Digital transformation underscored by the fourth industrial revolution has led to the emergence of sophisticated technology-enabled financial services known as fintech, that has swiftly altered traditional financial services space. Global adoption of fintech is rapidly increasing due to its disruptive nature and is largely embraced by participants who are underserved by traditional financial service providers. Global investments in fintech are growing rapidly year by year owing to increased interconnectivity with the digital revolution. Fintech is expansive, engulfing a plethora of innovative applications in various services including payments, financing, asset management, insurance, etc. There exists a gap in the literature and visualization research on impact and future pathway of fintech innovations in payments and financial services and role of financial regulations. This study aims to enrich the understanding of fintech innovations in payments and financing and investigate the correlation and significance of regulatory framework in maintaining a fair ecosystem. With this objective, an extant systematic review was performed using research articles published in peer-reviewed journals for the period 2014–2022 when there has been a burgeoning of interest in ‘fintech’ globally. The findings of this study contribute to the theoretical constructs of fintech innovations in the financial services industry and show that such innovations play a crucial role in shaping the nature of future of business. The results of this study have implications for researchers who could deploy this research as a reference point to get a holistic insight and a detailed mapping of innovations in fintech.

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“…It was rebranded as MasterCard in 1979. In addition to these wellknown national programs, a number of local banks also experimented with community charge card services during the early 1950s (Vanatta, 2018). Their abandonment highlighted the difficulty of implementing universal cards even on a city-wide basis.…”

Section: Consumer Credit and The Emergence Of Payment Cardsmentioning

confidence: 99%

Plastic surveillance: Payment cards and the history of transactional data, 1888 to present

Lauer

2020

Big Data & Society

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Modern payment cards encompass a bewildering array of consumer technologies, from credit and debit cards to storedvalue and loyalty cards. But what unites all of these financial media is their connection to recordkeeping systems. Each swipe sends data hurtling through invisible infrastructures to verify accounts, record purchase details, exchange funds, and update balances. With payment cards, banks and merchants have been able to amass vast archives of transactional data. This information is a valuable asset in itself. It can be used for in-house data analytics programs or sold as marketing intelligence to third parties. This research examines the development of payment cards in the United States from the late 19th century to present, drawing attention to their fundamental relationship to identification, recordkeeping, and data mining. The history of payment cards, I argue, is not just a history of financial innovation and computing; it is also a history of Big Data and consumer surveillance. This history, moreover, provides insight into the growth of transactional data and the datafication of money in the digital economy.

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Charge Account Banking: A Study of Financial Innovation in the 1950s

Cited by 7 publications

References 13 publications

The role of artificial intelligence and financial engineering for listed service companies in Nigeria

The role of artificial intelligence and financial engineering for listed service companies in Nigeria

Fintech Innovations in the Financial Service Industry

Plastic surveillance: Payment cards and the history of transactional data, 1888 to present

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