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Books > Business & Economics > Industry & industrial studies > Service industries > Financial services industry
This book provides both practice-oriented and academic insights
into the disruptive power of fintech for the banking industry. It
explores (1) whether and how the banking industry can use newly
emerging technologies in the financial sphere to its advantage
while managing any associated risks, (2) how these technologies
affect traditional banking service formats as well as the pricing
of these services, and (3) whether the emergence of fintech in the
banking industry calls for a rethinking of existing banking
regulations such as the Basel Accords as well as country-specific
regulations. Prior publications in this area typically examine both
current applications of fintech in the banking industry, as well as
its future prospects, by analyzing actual cases or exploring the
impact of a single emerging technology on the banking industry.
They often ignore the interdependence between emerging technologies
and overlook the connection between fintech as a whole and the
future of the banking industry. This book addresses this gap by
providing a comprehensive overview of various fintech applications
and by analyzing what they mean for the future of banking. Given
the potentially disruptive power of fintech, the book will focus on
the challenges banking supervisors are likely to encounter as a
result of fintech's continual ascent. It will thus encourage
readers to think about and explore how to find a balance between
the beneficial aspects of fintech and the challenges it creates in
terms of supervision, regulation, and risk management.
This second edition updates and extends the original foundations of
the loanable funds model. It develops a new monetary model of
inside money, which is created by the commercial (or retail) banks,
drawing on the events of 2007/08 that led to the Great Recession
and fragile economy of today. Coronavirus is likely to cause
another downturn of economic activity, from the perspective of late
2020 as this is written. That will represent a long-period of
subpar, anaemic growth, which has not been satisfactorily explained
by the traditional theory in the form of neo-classical analysis.
The reason may lie with the adoption of a body of theory based
primarily on a barter system of exchange but sometimes with one
commodity used as money to try to explain a dynamic, monetary
economy of today. Money has evolved from a system of barter to
become a medium of exchange based on fiat money and credit currency
underpinned by legal tender, and therefore, a creature of law. If
households and firms lose confidence in the banking system, they
can withdraw their deposits in the form of cash as a medium of
exchange, which must be accepted in exchange for goods and services
as legal tender. This book highlights the importance of how money
is created or destroyed endogenously and derives the loanable
supply of funds in conjunction with the demand within a revised
analysis of monetary theory, with a new emphasis on portfolio
theory. It applies critical thinking and the realization of a more
precise formulation of the loanable funds theory to final year and
postgraduate students in particular, with various features
systematically added such as the catastrophe framework and Minsky's
theory of changing states in an attempt to derive a fully dynamic
model. There is a new framework using aggregate demand and supply
analysis to explain inflation. This will be reinforced at each
stage by the inclusion of revised and updated case studies, graphs
and figures to give an international setting and application
This book describes various approaches in modelling financial risks
and compiling ratings. Focusing on emerging markets, it illustrates
how risk assessment is performed and analyses the use of machine
learning methods for financial risk assessment and measurement. It
not only offers readers insights into the differences between
emerging and developed markets, but also helps them understand the
development of risk management approaches for banks. Highlighting
current problems connected with the evaluation and modelling of
financial risks in the banking sector of emerging markets, the book
presents the methodologies applied to credit and market financial
risks and integrated and payment risks, and discusses the outcomes.
In addition it explores the systemic risks and innovations in
banking and risk management by analyzing the features of risk
measurement in emerging countries. Lastly, it demonstrates the
aggregation of approaches to financial risk for emerging financial
markets, comparing the experiences of various countries, including
Russia, Belarus, China and Brazil.
This book investigates factors that contribute to the development
of an efficient financial sector in Ghana. While sustainable
finance has long been known to propel economic growth and
development, and while many African countries have taken
initiatives to develop integrated frameworks of their financial
sectors that tackle developmental challenges, scholars and
policymakers have always grappled with understanding of factors
that enhance performance of the financial sector. In this book, an
expert team of authors examines the financial landscape, central
bank policies, competition, financial innovation, financial
inclusion and banking stability in Ghana, while also exploring how
financing models such as enterprise finance and microfinance can be
more effective in sustaining financial markets. The authors discuss
how Ghana can build fortified institutions, regulatory frameworks,
and productive capacity to strengthen the financial sector and
foster pathways that will enhance economic development. Empirical
and scientific evidence give this book a unique approach that is
both qualitative and quantitative.
This open access Pivot demonstrates how a variety of technologies
act as innovation catalysts within the banking and financial
services sector. Traditional banks and financial services are under
increasing competition from global IT companies such as Google,
Apple, Amazon and PayPal whilst facing pressure from investors to
reduce costs, increase agility and improve customer retention.
Technologies such as blockchain, cloud computing, mobile
technologies, big data analytics and social media therefore have
perhaps more potential in this industry and area of business than
any other. This book defines a fintech ecosystem for the 21st
century, providing a state-of-the art review of current literature,
suggesting avenues for new research and offering perspectives from
business, technology and industry.
This short monograph examines the tense relationship between
central bank independence and democratic legitimation, which has
changed as the European Central Bank (ECB) has been entrusted with
new tasks and faced unprecedented challenges. The financial and
sovereign debt crisis, in particular, has affected the ECB's
position within the Economic and Monetary Union without substantial
changes in the Union's legal framework. However, the evolution of
an institution primarily obligated to maintain price stability into
an actor involved in sustaining financial stability, performing
banking supervision and supporting economic policy raises the
question of whether the high level of autonomy granted to the ECB
is justified with regard to the principle of democracy that demands
adequate accountability and control. This book identifies
requirements for the democratic legitimation of central bank action
in relation to specific tasks. Further, it analyses other scales of
independence encountered in EU law in order to allow readers to
gain a better conceptual understanding of central bank
independence.
Financial services technology and its effect on the field of
finance and banking has been of major importance within the last
few years. The spread of these so-called disruptive technologies,
including Blockchain, has radically changed financial markets and
transformed the operation of the industry as a whole. This is the
first multidisciplinary handbook of FinTech and Blockchain covering
finance, economics, and legal aspects globally. With comprehensive
coverage of the current landscape of financial technology alongside
a forward-looking approach, the chapters are devoted to the spread
of structured finance, ICT, distributed ledger technology (DLT),
cybersecurity, data protection, artificial intelligence, and
cryptocurrencies. Given an unprecedented 2020, the contributions
also address the consequences of the current emergency, and the
pandemic stroke, which is revolutionizing social and economic
paradigms and heavily affecting Fintech, Blockchain, and the
banking sector as well, and would be of particular interest to
finance academics and researchers alongside banking and financial
services professionals.
Bill Gates' quote, "Banking is necessary, but banks are not,"
showcases the opportunity for financial services digital
transformation. The next transition from industry 4.0 to 5.0 will
impact all sectors, including banking. It will combine information
technology and automation, based on artificial intelligence,
person-robot collaboration, and sustainability. It is time to
analyze this transformation in banking deeply, so that the sector
can adequately change to the 'New Normal' and a wholly modified
banking model can be properly embedded in the business. This book
presents a conceptual model of banking 5.0, detailing its
implementation in processes, platforms, people, and partnerships of
financial services organizations companies. The last part of the
book is then dedicated to future developments. Of interest to
academics, researchers, and professionals in banking, financial
technology, and financial services, this book also includes
business cases in financial services.
This book covers three topics that have dominated financial market
regulation and supervision debates: digital finance, sustainable
finance, and the Banking and Capital Markets Union. Within the
first part, seven chapters will tackle specific questions arising
in digital finance, including but not limited to artificial
intelligence, tokenisation, and international regulatory
cooperation in digital financial services. The second part
addresses one of humanity's most pressing issues today: the climate
crisis. The quest for sustainable finance is driven by political
actors and a common understanding that climate change is a severe
threat. As financial institutions are a cornerstone of human
interaction, they are in the regulatory spotlight. The chapters
explore sustainability in EU banking and insurance regulation, the
interrelationship between systemic risk and sustainability, and the
'greening' of EU monetary policy. The third part analyses two
projects that have led to huge structural changes in the European
financial market architecture over the last decade: the European
Banking Union and Capital Markets Union. This transformation has
raised numerous legal questions that can only gradually be answered
in all their intricacies. In four chapters, this book examines
composite procedures, property rights of depositors in banking
resolution, preemptive financing arrangements and the phenomenon of
subsidiarisation in the context of Brexit. Of interest to
academics, policymakers, practitioners, and students in the field
of EU financial regulation, banking law, securities law, and
regulatory law, this book offers a compilation of analyses on
pressing banking and capital markets law problems.
This second edition further explores the regulatory landscape of
cryptocurrency, highlighting the rise of Bitcoin, which is based on
blockchain technology, and some of the many types of coins and
tokens that emerged thereafter. Although Bitcoin and other
cryptocurrencies have made national and international news with
their dramatic rise and decline in value, nevertheless the
underlying technology is being adopted by both industry and
governments, which have noted the benefits of speed, cost
efficiency, and protection from hacking. Based on numerous
downloaded articles, laws, cases, and other materials, the book
discusses the digital transformation, the types of
cryptocurrencies, key actors, and the benefits and risks. It also
addresses legal issues of digital technology and the evolving U.S.
federal regulation. The varying treatment by individual U.S. states
is reviewed together with attempts by organizations to arrive at a
uniform regulatory regime. Both civil and criminal prosecutions are
highlighted with an examination of the major cases that have
arisen. This second edition specifically explores the creation of
stablecoins, governments issuance of their own versions of digital
currencies, new regulations that have been enacted and promulgated,
and a clearer examination of futuristic evolutions that potentially
will have a major impact upon the current cited technologies.
The Future and FinTech examines the fundamental financial
technologies and its growing impact on the Banking, Financial
Services and Insurance (BFSI) sectors. With global investment
amounting to more than $100 billion in 2020, the proliferation of
FinTech has underpinned the direction payments, loans, wealth
management, insurance, and cryptocurrencies are heading.This book
presents FinTech from an industrial perspective in the context of
architecture and its basic building blocks, e.g., Artificial
Intelligence (AI), Blockchain, Cloud, Big Data, Internet of Things
(IoT), and its connections to real-life applications at work. It
provides a detailed guidance on how FinTech digitalizes business
operations, improves productivity and efficiency, and optimizes
resource management with the help of some new concepts, such as
AIOps, MLOps and DevSecOps. Readers will also discover how FinTech
Innovations connect BFSI to the rest of the world with growing
interests in Open Banking, Banking-as-a-Service (BaaS) and
FinTech-as-a-Service (FaaS).To help readers understand how FinTech
has unlocked numerous opportunities for tapping into the massive
substantial group of customers, this book illustrates the massive
changes already underway and provides insights into changes yet to
come through practical examples and applications with illustrative
figures and summary tables, making this book a handy quick
reference for all things of FinTech.Related Link(s)
This book is a collection of academic lectures given on fintech, a
topic that has been written about extensively but only from a
business or technological point of view. In contrast to other
publications on the subject, this book shows the reader how fintech
should be understood in relation to economics, financial theory,
policy, and law. It provides introductory explanations on
fintech-related concepts and instruments such as blockchains,
crypto assets, machine learning, high-frequency trading, and AI.
The collected lectures also point to surrounding issues including
start-ups, monetary policy, asset management, cyber and other
security, and stability of financial systems. The authors include
professors, a former central bank official, current officials at
Japan's Financial Services Authority, a lawyer, the former dean of
the Asian Development Bank Institute, and private sector
professionals at the frontline of fintech. The book is most
suitable for those both within and outside of academia who are
beginning to learn about fintech and wish to successfully take part
in the revolution that is certain to have wide-ranging effects on
our economy and society.
The financial markets have undergone a significant development
process, both qualitatively and quantitatively, and partly induced
by major pushes for globalization and deregulation. In this
context, finance has taken on an increasingly central role for
companies and is now on par with production and sales, which have
always been the cornerstones of business management. The effects of
these structural and functional changes are not limited to the way
companies operate, but also imply a change in corporate cultures;
one consequence of this phenomenon is the large percentage of
managers from the world of finance at the top tiers of corporate
organizations. Moreover, environmental turbulence has forced
companies to increasingly face negative situations characterized by
economic and financial imbalances that may require far-reaching
strategic changes. The purpose of this book, therefore, is to
investigate the possible financial strategies that companies in
distress can adopt; in this regard, it approaches financial
strategies as opportunities to resolve and prevent difficult
situations for the company. After having systematized the financial
strategies and policies used in the governance of companies, the
book analyzes both crises and turnaround processes, describing the
path until the financial balance is restored. Finally, the authors
analyze essential tools for the financial management of companies
in trouble, focusing in particular on operational tools for
managing the crisis, the recovery plan, and its monitoring.
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