جستجوی مقالات مرتبط با کلیدواژه « فین تک » در نشریات گروه « اقتصاد »

Today, the importance of fintechs in the financial field is not hidden from anyone. The importance of this matter is to the extent that a wide range of recent studies have been conducted on the performance of fintechs and their relationship with the banking sector at the international literature. In Iran, there are more than 50 fintech companies that have entered into various sectors of the banks' business model. Therefore, they can affect the financial stability of the Iranian banks. In this article, using data of fintechs and financial statement of banks during 1991-2021 and ARDL and Quantile methodology, the effect of fintechs in the short and long term on the financial stability of banks has been investigated according to the type of ownership, the size of the banks, and the degree of financial stability. In this article, fintechs are divided into two groups: competing fintechs and non-competing fintechs. Fintech lifetime has been used as a measure of fintech performance. The z-score has been used as a measure of financial stability of banks. The results of the accuracy of the model indicate the normality of the distribution of residual sentences, the absence of serial correlation, the existence of homogeneity variance and the existence of long-term relationship. The results of the survey show a significant relationship between fintechs and financial stability of banks. So in long term, both competing and non-competing fintechs have a negative effect on the financial stability of banks. But in the short term, non-competing fintechs have a positive relationship and competing fintechs have a negative relationship with the financial stability of banks. Also, examining the effect of fintechs according to the type of ownership and size indicates the negative effect of fintechs based on the type of ownership and size, and examining the effect of fintechs according to the degree of financial stability indicates the negative effect of fintechs on banks with low financial stability.

Given the potential impact of blockchain technology on the banking industry, it is crucial to explore how this technology influences business models within the sector. This understanding can provide valuable insights into how value is created, delivered, and captured in banking. The main objective of this article is to present a blockchain technology framework as applied to fintech in the financial and banking sectors. This study employs metacomposition to identify key factors, the fuzzy Delphi method to evaluate, refine, and localize the model, and the Dimetal technique to analyze relationships and effects. The research involved a systematic review of 849 articles (ranging from 1395 to 1402 in the Iranian calendar for domestic articles, and from 2016 to 2023 for international articles), from which 73 articles were selected and analyzed using content analysis. Subsequently, 7 dimensions, 23 components, and 102 indicators were validated and localized with the assistance of 17 experts. In the final stage, these dimensions and components were prioritized with expert input, leading to the extraction of the final framework. The results indicate that fintech-driven blockchain technology enhances value creation in the dimensions of innovation and technology, transparency, security, quality, speed, business models, and collaboration, providing strategic capabilities to financial and banking businesses.

Financial technology will transform traditional financial markets, especially banks, by taking advantage of innovation. The purpose of this research is to present an entrepreneurial model regarding the subject of this research. The research is exploratory in terms of its applied purpose-developments and data collection method. In order to examine the relationship model and its fit, structural equation modeling has been used. As a result, the components are placed in 5. Therefore, according to these recommendations, in order to improve their business models, it has been provided.

  THEORETICAL FRAMEWORK:

Today, the world is witnessing very rapid progress in various fields of science, the speed of these developments and innovations resulting from it is faster, especially in the science of information and communication technology, and the technologies of this field have become a precursor to developments in other fields as well. Banks have always been the focus of researchers due to their special importance in the economy of countries. With the expansion of technology and the increasing influence of the internet and virtual space in people's daily lives, the need for ideas and innovation in the banking sector also becomes more tangible.In a significant part of the previous research in the field of financial technology ecosystem, the way of its development and evolution and the role of this ecosystem in creating innovation in the financial services industry have been discussed. In research, the proposed classification framework of the paper has three dimensions: financial benefits, challenges and functions enabled by blockchain.The current research seeks to answer the following questions:What factors does the entrepreneurial model of technological businesses in the banking industry include?In what dimensions are the influential factors of financial technology in the banking industry?How are the influential dimensions of financial technology in the banking industry related to each other?

In the first step, to implement this method, the triangular fuzzy values of experts' opinions as well as the components obtained from previous researches in both internal and external studies were calculated and these components were converted into fuzzy values. In the second step, to calculate the average of the opinions of n respondents, their fuzzy average was calculated. In the third step, according to the studies conducted from domestic and foreign researches, the participating team consists of academic experts, number of 20 people, including faculty members of public administration, information technology management, entrepreneurship and banking affairs management, based on the information that they have been determined in the field of financial technologies in the banking system. In the fourth step, to validate the findings of the qualitative part, the method of long-term engagement and continuous observation, review by participants and colleagues, and the triangulation technique of data sources have been used. In order to achieve reliability criteria, including reliability, transferability, reliability, and verifiability, which are used in transferability, the results of the study, in reliability, coding in reports, and in verifiability, recording activities over time. In the fifth step, after data editing, coding and data entry, two methods of descriptive and inferential statistics and software such as Excel, SPSS, PLS have been used to analyze the data. In the sixth step, the interpretive structural model (ISM) was presented by Andrew Sage in 1977.

In the first stage, according to the fact that each of the previous researchers introduced different components in their articles, with the method of content analysis and the combination of similar codes, the primary components in each of the dimensions of the model were identified by analyzing the existing articles and books and interviewing experts became. Fixed fuzzy numbers are calculated by using the average method as follows:ϰ1=(U+M+L)/3; ϰ2=(U+2M+L)/4; ϰ3=(U+4M+L)/6  According to KMO number (more than 0.7) and significance level, Bartlett's test is less than 5%. The explained variance shows that these questions consist of 5 factors and these factors explain and cover about 64.55% of the variance, which actually indicates the appropriate validity of the questions. A good fit index above 0.5 indicates a good fit of the model.According to the results obtained from the structural equation model, the analysis of the research model is presented as follows: the coefficient of determination shows that 74.9 percent of the changes in business internationalization are explained by innovative capabilities, entrepreneurial attitude, supply chain initiatives, and internationalization. Market structure and support activities in this research, the components are placed in 5 levels, which are at the highest level of innovative capabilities and entrepreneurial attitude and at the lowest level of business internationalization.

CONCLUSIONS & SUGGESTIONS:

Over the years, although many researchers have investigated the components of a business model (Bertel et al., 2012), designing a new business model is closer to an art than a science. In order to achieve the goal of the research, with the help of findings from previous researches, key factors have been identified and then using interpretive structural modeling or ISM, for the key factors identified from the point of view of experts, including university professors, banking experts and managers specializing in the field of business and they are technological works, a structured relationship was defined.In a changing environment, the delivery and delivery need of financial services will also change. The proposed model is more comprehensive compared to similar proposed models, and the categories taken from previous researches are in five dimensions. By comparing the previous research with the current research, it can be concluded that the structure of institutions and technological activities are among the elements that need to be paid attention to. In order to start and create technological businesses in the banking industry, entrepreneurs need to have a high entrepreneurial attitude in addition to creating an environment that has high innovative capabilities.

Fintech is one of the financial innovations that affects the development of financial markets, the growth of financial institutions, and the provision of financial services which leads to the creation of new products, new business models, and new applications. Fintech has different effects on the welfare of urban and rural households according to society's access level to other financial services. On the one hand, fintech leads to an increase in economic development and welfare of households through the reduction of information asymmetry, efficient allocation of financial resources, the reduction of financing cost, the accumulation of capital, and the increase in the individual education level. On the other hand, fintech reduces economic development and the household's welfare by increasing risk and negatively affecting financial regulations. During the last two decades, Iran's economy has experienced significant growth in the fintech industry along with the expansion of technology and information infrastructure, the development of the internet, and financial services. Therefore, analyzing the impact of fintech on rural households' welfare as an index to reflect the purchasing power and the ability to acquire living facilities is of special necessity. Despite this, the role and importance of fintech on rural households’ welfare has not been examined in any of the country's research. Considering the importance of the subject, the main goal of the present essay is to investigate the effect of fintech on the welfare of rural households in the provinces of Iran from 2014 to 2020 using the econometric approach of panel data.

In the research model specification, welfare was considered a function of fintech, economic growth, financial development, government spending, and trade openness. Also, two indices of the Sen and Engel coefficient were used to measure the variable of rural households’ welfare. The research area includes Iran’s provinces and covers annual time series data for 2014 to 2020. The consumer price index in the base year 2016 was applied to convert the nominal data to real. Since in the present research, the number of cross−sections is more than the length of the time series period, to estimate the model and investigate the effect of fintech on rural households’ welfare, the panel generalized method of moments approach was used. In the panel GMM, the dependent variable with a lag is entered into the model as an explanatory variable along with other independent variables, which solves the problem of serial autocorrelation and, due to the use of the method of moment estimators remove the heteroskedasticity problem. Specifications such as the disappearance of the variable's endogeneity and the effectiveness of both fixed and random effects in model estimation make the dynamic panel model approach preferable to other static patterns.

The findings show that fintech has a positive effect on social welfare and a negative impact on the Engel coefficient. The fintech growth leads to an increase in entrepreneurship and household income by reducing borrowing costs and access to financial services and increasing the non−food consumption of goods. Economic growth has a positive effect on social welfare growth and a negative influence on the Engel coefficient. Improving economic growth by increasing income and non−food consumption expenditures enhances social welfare and reduces the Engel coefficient. Financial development has a negative influence on social welfare growth and a positive effect on the Engel coefficient. The inefficiency of the financial systems in Iran leads to a decrease in the non−food consumption goods and a decrease in welfare by reducing economic growth and individual real income. The government expenditure per capita growth has a positive effect on social welfare growth and a negative impact on the Engel coefficient. Increasing government spending through increasing productivity leads to improved income and welfare growth. The degree of trade openness has a positive effect on social welfare growth and a negative influence on the Engel coefficient. Increasing the degree of trade openness through the transfer of knowledge and improving technology leads to an increase in income and non−food consumption, and as a result, an increase in welfare.

Expanding access to credit is considered one of the most important factors to reduce poverty and improve the welfare of rural households. In such a way, access to credit by increasing income and smoothing consumption increases the welfare of poor rural households. Fintech leads to an increase in rural households' access to financial credit by providing innovative business models and new methods of financial intermediation. Upsurging access to financial credit leads to an expansion in entrepreneurship and raises investment in the human capital of individuals living in rural areas. Increasing entrepreneurship in rural areas and increasing investment in human capital also leads to increased employment, raised income, and growth in the welfare of rural households. Although the concentration of banks and other traditional financial institutions in urban areas has hindered the participation and investment of rural households in the financial markets, However fintech, by taking advantage of the advances and innovations in the field of technology, such as the internet, mobile phones, and artificial intelligence, has caused the remove of location barriers, raised quick and easy access to financial services, reduced information asymmetry, and declined transaction costs which in turn provides the possibility of participation and investment of individuals living in rural areas in financial markets. In such a way, poor rural individuals with small savings can also participate in the economy's financial sector. Participation and investment in the economy’s financial sector lead to an increase in profitability and income and, as a result, an increase in the welfare of rural households. Considering the significant consequence of fintech on the welfare of rural households, it is recommended that the government adopts comprehensive policies, including the creation of regulatory laws to direct fintech, increasing investment in mobile phone and internet infrastructure to increase rural households access to the internet, increasing investment in the field of artificial intelligence, and ultimately training rural households to use the benefits of artificial intelligence.

The global financial industry has been changing rapidly with the advancement of financial technology in the last few years. New emerging technologies such as internet finance, blockchain and mobile banking have revolutionized the financial industry. As a financial innovation, fintech has created profound changes in payment patterns and by relying on new transaction methods such as mobile payment, it has enabled traditional finance to overcome geographical and time limitations. The presence of fintech technology provides cheaper services with more choices for consumers to purchase financial services, which leads people's financial behavior towards digitalization. The emergence of financial technology has created new business models that challenge traditional risk-taking approaches. Based on this, it is necessary to gain insight into the impact of fintech innovation on the risk-taking of the banking system. Therefore, this article examines the impact of banking fintech innovation on their risk-taking using panel data in Iranian banks between 1386 and 1400. The experimental results show that the improvement of fintech innovation significantly reduces the risk-taking of banks. Banking fintech by using cryptographic technology for financial transactions, electronic equipment and financial software, they increase the security of transactions, increase the transparency of the banking system, reduce the possibility of human errors in the transfer process and financial transactions, and as a result, reduce banking risk.

During recent decades, technological progress has led to the considerable growth and development of fintech in Iran. Since fintech affects the financial system, examining the impact of fintech on financial development is of particular importance. Accordingly, the current research aims to investigate the effect of fintech on financial development in Iran. To analyze the relationship between variables the thresholds regression approach and seasonal data for the period 2013-2022 were used. The results show that fintech leaves a positive and significant impact on financial development before and after the threshold level. However, after crossing the threshold level, such an impact will surge. Fintech causes a reduction in transaction costs through the use of technologies such as artificial intelligence, information transparency rising, and efficient access to financial services. Diminishing the financial cost and raising the information transparency increases financial sector efficiency by growing participation in the financial markets. Also, more rise in fintech, through increasing competition in financial markets, promotes innovation in providing financial products and services, the efficient allocation of resources, and the rise of the financial sector efficiency, which in turn leads to more expansion of financial development.

Cryptocurrency mining is an important issue that has attracted the government’s and people’s attention to itself in recent years, and many people are active in this field. Despite the various activities in this field, the mentioned industry has not yet been legally recognized, and because of the absence of this legislation, many misfortunes and concerns have emerged. Considering this necessity and for relieving the concerns and ambiguities existing for the legislator, the present research seeks to jurisprudentially and legally investigate the ongoing problems in the legalization of cryptocurrency mining including “the nature of the cryptocurrency mining activity”, “the unnecessariness of mining”, “appointment of the mining legislator official” and “the feasibility for levying tax for mining”. The concluding element of the present research can be summarized in jurisprudential terms in “not amounting the mining activity to gambling”, “amounting the mentioned activity to reward”, “mining efficiency in terms of its necessity for protecting the network safety and the possibility for earning foreign currency incomes” and “not raising any doubt about weakening the Islamic system and sovereignty of the aliens”. In legal terms, the present study states that the legalization of cryptocurrency mining requires some changes in the Monetary and Banking Act, passed in 1980, and in tax levy terms, the aforesaid activity is included in Articles 93 and 94 of Direct Taxation Act, passed in 1987.

Fintech affects banks' risk management, and banks tend to improve the level of Fintech in their financial system by increasing risks; Liquidity, credit and systemic risks are the most important risks identified in the banking industry, but what causes the collapse of the entire banking system; Systemic risk is caused by the nature of the spread of this risk from one bank to other banks. Systemic risk occurs when the instability of one financial institution spreads to others, potentially causing a domino effect that can lead to broader economic effects. Identifying systemic risk is very important for monetary and financial supervisory organizations. The deployment and development of fintech has significantly affected banking systems. Increased systemic risk can hinder support for sustainable global development, especially in emerging economies. There are several indicators to calculate this risk; Among these indicators, we can refer to conditional value at risk (CoVaR), TENET (developed CoVaR model), final expected deficit (MES), systemic expected deficit (SES), systemic risk (SRISK), epidemic models (SIR). The results of the conducted research indicate the high level of systemic risk in Iran; Also, according to research, the amount of this risk is higher in state banks than in private banks. It should be noted that all three categories of intra-company, extra-company variables and diversification of bank income and assets (bank portfolio management) have a significant effect on systemic risk; This indicates the complexity of the dimensions of the formation of this type of risk.

Financial technology institutions cover a wide range of jobs in the financial field in Iran, and success in these jobs depends on various indicators, of which customers are one of these factors. Therefore, the identification and classification of these factors can be a strategy for new institutions in this field to reach the current model of fintech institutions, and it can also be a guideline to maintain the current state of financial technology institutions that have grown at the moment, to design a model of factors affecting the success of financial technology institutions. At the customer level, in this research, the interpretive structural modeling method has been used. MICMAC analysis has also been performed in the continuation of ISM interpretive structural modeling.The purpose of MICMAC analysis is to investigate and analyze the power of penetration the power of dependence of the components that are calculated in the stage of forming the final received matrix, by using a multi-criteria decision-making method, all factors and indicators affecting the success of financial technology institutions at the level of customers have been ranked by the opinion of the experts of the Fintech Association of Iran. Factors affecting the success of financial technology institutions at the customer level, customer orientation has taken the first place. The next ranks are given to agility, security management, low profit margin, easy adaptation, scalability and innovation, the model derived from the ISM method was fitted to the structural equation method, which shows the relationship between the variables.

Nowadays, the use of Fintech or innovative application of technology in providing financial services has become an integral part of the banking industry, and banks' cooperation with Fintech startups to transition to digital banking is no longer a choice, but a necessity. The model of acceptance of new financial technologies is presented. In the qualitative section, 77 sub-categories, 16 main categories and 10 final documents were obtained by interviewing theoretical and experimental experts by content analysis method. Then, the conceptual model of the research was designed to enter the quantitative and modeling part. In the quantitative part, using the categories identified in the conceptual model and based on the questionnaire, the model of acceptance of Finatech products and services by the customers of the country's banks was presented by structural equations (PLS). The statistical population in a small part includes the customers of banks and financial institutions that due to the unlimited statistical population, 384 people were selected as a statistical sample by Cochran's formula. The results of structural equation modeling showed that the independent variables of awareness, perceived security, efficiency, convenience and comparative advantage have a positive effect and a negative effect on attitudes toward finitech products and services. Age and experience in relation to independent variables have a positive moderating effect on attitudes toward Fintech products and services. It can be said that attitude has acted as a mediator in the relationship between independent and dependent variables.

IoT, a state-of-the-art technology, faces many challenges in its growth and development. One of the main concerns is the potential threats posed by the spread of such technology in the world. The widespread adoption and spread of such a technology can threaten us much more seriously than the Internet currently available. The challenges we face in adopting such technology will include both the social and the technical aspects. Technical limitations include security considerations, privacy, as well as the resource, energy, and capacity issues for such a large amount of data and processing. Besides, socially, cultural infrastructure must first be provided for the diffusion of such technologies among the community. This study aimed to investigate the factors affecting the readiness level of the acceptance of IoT technologies. The relationships are examined as six main categories identified, namely the social aspect, the cultural aspect, the human aspect, the technological aspect, the financial aspect, the management aspect, government laws, and regulations. The opinions of senior ICT executives nationwide were collected. The statistical population of this study consists of experts and users of the financial sector, stock exchange, and financial institutions. Since the statistical population is infinite, 384 randomly available individuals are selected. SMART.PLS was used to validate the model and test the relationships between variables. The results indicate the impact of the identified categories on IoT adoption readiness.

The economic war against Iran has been going on for years, and economic defense has been charged with the responsibility to counter the enemy's economic aggression, with the aim of laying a stronger foundation for resistance to foreign conflicts. Economic defense requires appropriate tools, one of which is Fintech. Fintech is a tool that connects the two fields of economics and technology. This research has been done using library-survey methodology, examining the economic dimensions of Fintech businesses with the aim of introducing solutions to provide a model for the expansion of these businesses in strengthening economic defense with a statistical community of Fintech experts. In the qualitative stage, the qualitative model of the research with six categories of causal conditions, contextual conditions, central category, intervening conditions, strategies and actions, and outcomes is presented by the Qualitative Meta Synthesis Method. And in the quantitative stage, using the results of the questionnaire and the method of confirmatory factor analysis, a relatively good fit of the model is obtained.

The ingress of multiple players into various spheres of business along with facilitating to render the required services through development of digital channels have per se, exasperated the competitive environment and pave the way for more concentration on improving the sundry of processes of business sectors in toto. However, taking into account the traditional approach of banks for providing the wide range of financial services, the amelioration of operations in different banking sectors can be possible viz-a-viz their active interactions with the new players of this industry, the so called FinTechs, Ipso facto.
In this context, we may observe that certain banking functions i.e. the regulatory compliance, anti-money laundering and risk management are among the tasks in which they can be deemed as the participation targets of some specialized FinTechs known as RegTechs which de facto may be construed as “Regulatory Technology”. Hence, in this paper an attempt is made to expound the concept of regulatory technology and its impellers in the initial stage and subsequently we have investigated some important issues such as the forthcoming trends of risk functions and regulatory compliance, the arena of application and the descried samples for successful operations of RegTech, Sine qua non. Finally a process of formulating a framework for adoption and implementation of “Regulatory Technology” in financial entities and banking systems has been envisaged, Sui generis.