The Retail Bank of Tomorrow: A Platform for Interactions and Financial Services. Conceptual and Managerial Challenges

Omarini, Anna Eugenia

doi:10.22158/rem.v3n2p110

Cited by 13 publications

(16 citation statements)

References 22 publications

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“…The classified FinTech systems assume the role of financial technology in a broader domain that enhances operating conditions for companies or organizations. Moreover, their main target is to improve delivery services of FinTech efficiently to users (Omarini, 2018) Recently, FinTech services reached beyond digital banking or e-banking financial services (Yin & Gai, 2015). Currently, FinTech service providers are more focused on the consumer perspective that increase the utilization of the monetary service industry and familiarize them with innovative technology.…”

Section: Financial Technology (Fintech)mentioning

confidence: 99%

User Attitude and Intentions Towards FinTech in Bangladesh

Ayoungman

Chowdhury

Hussain

et al. 2021

International Journal of Asian Business and Information Management

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FinTech is considered as a need for modern financial methods to compete with traditional financial methods. The combination of innovation, technology and finance develop a unique method that could be a source of economic development in developing countries. Modern technologies are essential to recognize the user attitude, behaviour and intentions towards FinTech. Hence, the key objective of the study is to investigate the user attitude and intentions towards the adoption of FinTech in Bangladesh. Under the light of the Technology Acceptance Model and Theory of Planned Behaviour, the following study used Perceived Trust, Perceived Usefulness, Perceived Compatibility, Perceived Cost Efficiency and Perceived Risk as an independent variable towards attitude and intentions of the users towards FinTech products. The study collected data from 450 FinTech users from Bangladesh and the proposed relationship among variables were measured by Structural Equation Model by using SMART-PLS. The research findings will benefit FinTech operators to create more customized services for local consumers.

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Section: Financial Technology (Fintech)mentioning

confidence: 99%

User Attitude and Intentions Towards FinTech in Bangladesh

Ayoungman

Chowdhury

Hussain

et al. 2021

International Journal of Asian Business and Information Management

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“…The role of FinTech ecosystems in the development of digital business is best expressed in recent innovations and advancements in the digital payments and digital financial services landscape. FinTech startups are indeed challenging the status quo with innovative propositions, trying to disintermediate financial institutions from their traditional function of payment service providers (Omarini, 2018). According to Mellon (2015), consumer, retail and corporate payments FinTechs include mobile wallets, e-commerce, peer-to-peer (P2P) mobile payments, foreign exchange and remittances, payments, and digital currency solutions.…”

Section: Nexus Between Digital Business and Fintech Entrepreneurial Ecosystemmentioning

confidence: 99%

Electronic banking business in Sub-Saharan Africa: Socio-economic impact and the activities of FinTech ecosystems

Akinola¹

2021

IJMRE

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This paper centers on assessing the socio-economic impact of electronic banking business in Sub-Saharan Africa, while critically observing the role that emerging FinTech ecosystems play in deepening economic inclusion and access in developing countries. Extensive related literatures were consulted which were integrated into this new body of knowledge, which has been one of the recommended areas for future research. Research hypothesis were derived to validate relevant findings. This study aim to provide transparency on whether the development of digital payments business and FinTech ecosystems are having a synergistic positive impact or otherwise, on the economic well-being of developing countries. It will also support potential foreign investors and multilateral development agencies on relevant socio-economic factors to note, while expanding into or supporting development in developing countries. The implication of this is for policyholders, multilateral development organizations, investors, donor agencies and governments to be conscious of the real impact and take perceptual measures where and when the need arises.

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“…Traditionally, banks invested more in security and not so much in optimizing user experience. That's going to change in the platform environment [9].…”

Section: ░ 2 Literature Review and Theoretical Frameworkmentioning

confidence: 99%

The Rise of Platform-based Models and its Impact on Banking and Financial Services

Dutta

2020

IJBMR

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The banking and financial services industry is getting disintermediated. The platform model is disrupting almost every industry and banking and financial services industry is not an exception. Platform players are giving serious competition to the traditional banking and financial services players. The disintermediation of the vertically integrated value chain is altering the industry landscape across geographies. Amazon, Google, Apple, Facebook in North America and Alibaba, Baidu and Tencent in China are acquiring new customers and offering products and services on their ecosystem as Orchestrators, while their partners are taking advantage of the ecosystem and creating competitive advantage through their products and services. The disruption of the traditional vertically integrated industry structure looks real and may have reaching consequences. The cost advantage of the platform model will lure firms to be partners in this model. The network effect of the platform model makes it a sustainable business model with long term revenue opportunities. Traditional firms may need to alter the way they did business to survive the onslaught from platform players.

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The Retail Bank of Tomorrow: A Platform for Interactions and Financial Services. Conceptual and Managerial Challenges

Abstract: Banking without boundaries will grow in the future

Cited by 13 publications

References 22 publications

User Attitude and Intentions Towards FinTech in Bangladesh

User Attitude and Intentions Towards FinTech in Bangladesh

Electronic banking business in Sub-Saharan Africa: Socio-economic impact and the activities of FinTech ecosystems

The Rise of Platform-based Models and its Impact on Banking and Financial Services

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