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1.
Topia-Canadian Journal of Cultural Studies ; 45:165-174, 2022.
Article in English | Web of Science | ID: covidwho-2071050

ABSTRACT

COVID-19 quarantine measures impacted incomes, labour and housing situations in different ways, particularly in the domestic sphere. In Argentina, "financial inclusion" polices" were linked, on one hand to the "bankarization" of new sectors to access relief funds, and on the other to the proliferation of fintech to mediate the receipt of funds. Debt, as a way of privatizing the crisis in the ability to eat, protect and heal oneself, solves emergencies in the here and now and exploits and conditions future time. Household debt, as a specific articulation of gender mandates, extracts value from reproductive tasks. Household debt is also an index of public debt, its cascading down the social hierarchy, and, as such, allows for a simultaneous analysis of the micro and macro planes. Even prior to the health emergency, the expansion of financial technologies targeting the most precarious sectors was becoming an accelerator for taking out non-banking debt.

2.
Sustainability ; 14(19):12616, 2022.
Article in English | ProQuest Central | ID: covidwho-2066436

ABSTRACT

Earlier literature has shown that the implementation of FinTech innovations is not only determined by banks, financial institutions, or government support, but also by the perception and experiences of FinTech users. FinTech research has shown encouraging findings from scholars in developed countries. However, little is known about the users’ acceptance and use of FinTech in Jordan. The aim of this study is to investigate the determinants of users’ intentions and e-Loyalty toward FinTech adoption in Jordan post the COVID-19 era. A conceptual framework was developed by integrating the four original constructs of the unified theory of acceptance and use of technology (UTAUT), namely performance expectancy (PE), effort expectancy (EE), social influence (SI), and facilitating conditions (FC), with three additional factors: personal innovativeness (PI), financial literacy (FL), and uncertainty avoidance (UA). In addition, the proposed model considered the e-Loyalty of FinTech users as a consequence of having a good FinTech experience. A quantitative approach using a cross-sectional online questionnaire was applied to collect data from 423 FinTech users. Data were analyzed utilizing structural equation modeling (SEM) based on AMOS 26.0 software package. The findings revealed that UA has a moderating effect on the relationship between FC and users’ intentions. Also, PI has a significant impact on PE and EE. While PE, SI, and FC are factors that enhance behavioral intentions. In return, it builds users’ e-Loyalty toward FinTech services and is deemed a new normal behavior. This study may help FinTech service providers and policymakers better understand the, currently relatively low, usage rate of FinTech, and how it contributes to the development of strategies that boost the acceptance and e-Loyalty of FinTech by Jordanian users after the COVID-19 era, where FinTech is still considered an innovation.

3.
Journal of Private Enterprise ; 37(2):57-89, 2022.
Article in English | ProQuest Central | ID: covidwho-2046075

ABSTRACT

FinTech has not only become a buzzword but also brought several business opportunities in the financial world, with the potential to increase financial inclusion, enhance people's daily lives, and spur growth. The issue of online buyers' knowledge about FinTech adoption has emerged from the rapid trend of digital technology in Kathmandu Valley. It also suggests that demographic variables (age and gender) and digital activity (internet experience and level of awareness) mitigate the major correlations. This paper aims to understand online grocery buyers' prior knowledge imprint in FinTech adoption during COVID-19 lockdowns. An exploratory research design was adopted, and data were collected through structured questionnaires using both descriptive and inferential statistics with the help of structural equation modeling. We find that the most respondents are aged twenty-one to forty, showing that most youth are attracted to technological innovation in FinTech (e-commerce and e-banking). We find that two-thirds of online buyers in Kathmandu Valley are facing the challenge of FinTech adoption due to slow internet and lack of awareness about its applications. The structural equation modeling shows that six out of eight constructs are fit and validated with the model. Attitude has a significant effect on actual purchases, whereas trust does not play a partial mediating role between dependent and independent variables. The internet as a digital marketplace has become an important part of marketing strategy and customer-relationship management. Thus, internet issues should be solved immediately with stable connections by internet service providers.

4.
Academy of Marketing Studies Journal ; 26(S3), 2022.
Article in English | ProQuest Central | ID: covidwho-2045182

ABSTRACT

In the economic development of a nation, banks occupy an important place. Commercial banks as financial institutions have also emerged as significant sources of funds to industry by virtue of which they constitute an important element of the institutional structure of the capital market in India. Banks assist the establishment and development of well-economic infrastructure for better living standards and are a good source for the procurement of credit to vulnerable groups. They initiated varied financial products and services for inclusive growth at affordable costs. The main purpose of the study is to identify the specific role played by commercial banks in India for achieving financial inclusion. In this research, Firstly, the authors will talk about the significance of financial inclusion in detail;later, the focal point is on the initiatives and role of commercial banks to achieve financial inclusion. The study is based on a systematic review of the literature. The researchers have reviewed the literature of the last decade to realize the financial inclusion growth through the banks. A longitudinal manner literature review has been carried out. The findings of this review paper suggested that various significant contributions rendered by the Indian banking sector towards inclusive growth and to the unbanked populace are Bank branch penetration, Setting up of BC/BF outlets to a large extent, no-frill accounts opening with nil or no balance, Expansion of ATM density in rural and semi-rural areas, Rendering flexible credit facility to MSMEs, SHGs and Villagers to make them economically strong, the introduction of technology-based initiatives such as online banking, Mobile banking, telebanking, Kiosks, and smart cards, simplified KYC norms, distributing General credit cards and Kisan credit cards, and enhancing the financial literacy among the public. The study also concentrates on the performance of banks for financial inclusion before and after the adoption of ICT technology in India.

5.
Laws ; 11(4):57, 2022.
Article in English | ProQuest Central | ID: covidwho-2023858

ABSTRACT

The unprecedented expansion of the digital economy has increased the intricacy of mobilising tax revenues from both domestic and international transactions. Tax evasion and avoidance are perpetuated by the invisible nature of digital transactions. To minimise the untapped revenues, countries all over the world are mapping policy strategies on how to collect revenue from this sector. African countries are not an exception. They have constructed digital tax policies to levy both direct and indirect taxes on digital transactions. This paper focuses on direct digital service taxes (DSTs). Direct digital service taxes have been an issue of debate among governments, policy makers, academics, tax bodies, and development organisations. Disagreements coalesce around their structure, their adherence to the canons of taxation, opportunities, and challenges as well as consequences of implementing them. Through a literature review, this paper assesses the legislative structure and administration of digital service taxes in relation to the canons of taxation. The findings of the review were conflicting. While certain aspects, motives, and possible outcomes of the taxes upheld the principles of taxation, some of these were conflicting with the principles. This could possibly be linked to variations in the economic, political, and social contexts in African countries and between developed and developing countries. The study recommends that while digital service taxes are an irrefutable necessity to tap tax revenues from the digital economy, African countries should ensure that equity, neutrality, economy, and efficiency among other principles are considered and balanced with the fundamental roles of tax policy.

6.
Information ; 13(8):390, 2022.
Article in English | ProQuest Central | ID: covidwho-2023762

ABSTRACT

Digital inclusive finance, as a vital engine for the country’s high-quality growth, provides new impetus and prospects for encouraging economic development during the looming economic downturn. SMEs play a significant role in economic growth and development, particularly in developing countries. However, value promoting financial inclusion for SMEs through digitalization is still understudied. The objectives aimed at by this investigation were: to study the impact of financial inclusion on SME performances, to observe the influence of digital financing on financial inclusion and SME performance association as a mediator and to examine how the Technology Acceptance Model (TAM) supports financial inclusion and SME performance. A well-structured questionnaire using a quantitative research approach was utilized to gather data from 366 owner-managers among Sri Lankan SMEs. The study’s findings are presented: financial inclusion, digital financing and TAM play influential roles in SME performance. More precisely, digital financing and TAM mediate positively the relationship between financial inclusion and performance in SMEs. The findings of this research endeavor to shed light on developing and popularizing digital financing by providing services which are cheap, secure and low risk from a supply-side perspective, as well as adopting and adjusting digital financing by enhancing financial literacy, which would be necessary from the demand-side perspective.

7.
Economies ; 10(8):184, 2022.
Article in English | ProQuest Central | ID: covidwho-2023274

ABSTRACT

The digital economy has risen dramatically in the global environment, and many developing countries, including African countries, have seen a spike in digital activity over recent years. The digital economy’s growth has resulted in an increase in digital financial services (DFS) in Africa and other developing regions. Since many African countries are under pressure to raise domestic revenue, taxing the digital economy has become a viable option. As a result, this study attempted to respond to the following questions: first, what is the link between DFS growth and digital inclusion in African countries? Second, what justifies the imposition of DFS taxes in Africa? Third, what are the potential consequences of DFS taxes in African countries? Using secondary data from the literature review and document analysis, a systematic technique for assessing or evaluating printed and electronic documents, and computer-based and internet-transmitted material, the study discovered that digital financial inclusion is driving financial inclusion on the African continent. The study also found that, despite several negative consequences associated with the growth of the digital economy, most African economic activities are informal and are being aided by various digital financial services. Therefore, it is equally crucial that when adopting digital finance taxes, care is taken to avoid excluding low-income earners from the financial sector and to take note of the usage, affordability, and distortive implications of taxation.

8.
Managerial Finance ; 48(9/10):1391-1412, 2022.
Article in English | ProQuest Central | ID: covidwho-2018560

ABSTRACT

Purpose>The COVID-19 pandemic has exposed the financial-economic vulnerability of the public and threatened the household financial stability, especially of the low-income group population, in developing economies such as India. The assessment of household financial vulnerability has gained considerable attention these days, especially in poor and developing countries. This article seeks to assess the level of household financial vulnerability in India, based on a household survey conducted across India.Design/methodology/approach>This paper has proposed a financial vulnerability index (FVI) based on three self-reported parameters: (1) making end meet, (2) perception of income shock and (3) perception of expenditure shock. Subsequently, the impact of various behavioural and socioeconomic factors on the proposed financial vulnerability index has been assessed using fractional probit regression.Findings>The research findings indicate that higher financial knowledge, better money management skills and lower impulsivity in financial behaviour can reduce financial vulnerability. It is suggested that suitable financial literacy programmes be implemented for vulnerable sections of society to enhance their financial knowledge, improve money management skills and manage impulsivity, thereby helping them make informed financial decisions leading to their financial well-being.Originality/value>To the best of the authors’ knowledge, none of the past studies have developed and assessed the financial vulnerability index in India. This study provides relevant recommendations for various financial sector regulators and government institutions in India.

9.
Cogent Economics & Finance ; 10(1), 2022.
Article in English | Web of Science | ID: covidwho-2017536

ABSTRACT

Technology has reshaped how financial services are designed, delivered, and consumed over the past decade. The increased mobile and internet penetration and availability of cheap data combined with the advent of Fintech, digitalization, blockchain technology, machine learning, and artificial intelligence have fast-tracked the digital transformation of economies worldwide. Covid19-induced lockdowns accelerated the digitalization of financial services. This study identifies the main areas and current dynamics of Fintech, digitalization, and financial services and suggests future research directions. Using a bibliometric analysis followed by a thematic literature review, the study examines a sample of 583 journal articles from the Scopus database from 1984 to 2021. Based on the bibliometric analysis, we identified four dominant themes. These themes are further explored through a thematic literature review to gain further insights. We conclude by suggesting potential directions for future research in the field.

10.
Heliyon ; 8(6): e09766, 2022 Jun.
Article in English | MEDLINE | ID: covidwho-1983109

ABSTRACT

The covid-19 pandemic revolutionises digital financial services, and hence digital financial inclusion is essential to ensure everyone can access digital financial services and thus promote sustainable economic growth. The development and activities promoting digital financial inclusion must align and help attain 2030 Sustainable Development Goals (SDGs). While the pandemic is anticipated to increase the usage of digital financial services, it has also created challenges for certain countries. Hence, a systematic literature review explores digital financial inclusion across countries. This research finds that developing countries, mainly Asian countries, embrace and improve digital financial inclusion to help reduce poverty. However, the results indicate that in developing countries, a persistent divide exists between gender, the wealthy and the poor, and urban and rural areas regarding access to and usage of digital financial services. At the end of the study, we propose a few recommendations, focusing on improving digital infrastructure, simplifying the complicated banking procedures, and stressing the importance of financial education, enabling the smooth implication of digital financial inclusion across countries.

11.
De Gruyter Handbook of Personal Finance ; : 405-430, 2022.
Article in English | Scopus | ID: covidwho-1974369

ABSTRACT

This chapter provides an overview of how digital technologies are transforming the financial services landscape. We highlight the latest in digital financial product and service offerings related to payments and transfers, savings and investments, borrowing, and risk management. We then consider how digitalization is impacting the delivery of financial advice - including virtual advisors, robo- and hybrid advisors, and personal finance communities. While many of these digital innovations were underway prior to Covid-19, the pandemic accelerated the transition raising concerns that some individuals and families may be at risk of being excluded from financial services due to growing socioeconomic and digital divides. We look at barriers to access and usage and emphasize the need for digital financial literacy. Legal and regulatory challenges are also examined. Particular attention is given to recent efforts by regulatory and supervisory authorities to balance innovation and competition with consumer protection. The insights from this chapter provide a useful starting place for scholars and practitioners who are interested in exploring in greater detail how digital technologies are impacting the financial services industry. © 2022 Walter de Gruyter GmbH, Berlin/Boston.

12.
Vinimaya ; 43(1):20-26, 2022.
Article in English | ProQuest Central | ID: covidwho-1970663

ABSTRACT

The Reserve Bank of India (RBI) has allowed Scheduled Commercial Banks (SCBs) and Small Finance Banks (SFBs)to lend money to NonBanking Finance Companies (NBFCs) and Micro Finance Institutions (NBFC-MFIs) respectively for the purpose of on-lending to the priority sectors. As per the Master Directions of RBI on Priority Sector Lending the facility was allowed till March 31,2022. However, the circular issued by the RBI on May 13,2022 makes this facility to continue on an ongoing basis. The article gives a background for the facility, discusses few related questions and suggesting a way forward. The authors opine that there is synergy between banks and NBFCs and lending for on-lending creates a win-win for all the stakeholders. They also recommend that the banks shall engage NBFCs and NBFC-MFIs as channel partners for reaching out to the priority sectors.

13.
Journal of Financial Economics ; 146(1):90-118, 2022.
Article in English | ScienceDirect | ID: covidwho-1956209

ABSTRACT

New technology promises to expand the supply of financial services to small businesses poorly served by banks. Does it succeed? We study the response of FinTech to financial services demand created by the introduction of the Paycheck Protection Program. FinTech is disproportionately used in ZIP codes with fewer bank branches, lower incomes, and more minority households, and in industries with fewer banking relationships. It is also greater in counties where the economic effects of the COVID-19 pandemic were more severe. Substitution between FinTech and banks is economically small, implying that FinTech mostly expands, rather than redistributes, the supply of financial services.

14.
Finance Research Letters ; : 103182, 2022.
Article in English | ScienceDirect | ID: covidwho-1936444

ABSTRACT

We explore how information-sharing and financial inclusion influence bank risk in 84 countries from 1996-2020. Results show that greater information-sharing and financial inclusion lessen bank risk levels. The average bank's Z-score increases by 3.51 – 9.09%, attributable to enhanced information-sharing and higher financial inclusion. Inclusion-based deposit mobilization reduces bank probability of insolvency, suggesting that inclusion provides banks with cheap funding sources, reducing moral hazard problems and risky behaviors. Results remain robust across risk indicators and controlling for FinTech-based inclusion and COVID-19-induced risk. They support the hypothesis of increased social returns to transparency, information-sharing, and reaching out to financially excluded segments.

15.
Communications of the Association for Information Systems ; 50(1):803-834, 2022.
Article in English | Scopus | ID: covidwho-1934778

ABSTRACT

This paper offers a systematic review of academic and practitioner-oriented literature on FinTech to determine the literature's existing scope and examine the intersection with work in the Information Systems (IS) field. Findings from our review show that the practitioner-oriented literature foreshadowed the rise of FinTech by extensively reporting on algorithm-based and electronic trading (2009 onwards), followed by reporting on FinTech start-ups and funding successes (2014 onwards). The practitioner literature subsequently reported on alternative finance models, the introduction of cryptocurrencies, and risks and regulatory issues. Academic literature on FinTech began to rise from 2014 onwards, focusing initially on the development of FinTech in the aftermath of the 2007-2008 global financial crisis. Research attention subsequently shifted to FinTech innovations (alternative finance, cryptocurrency and blockchain, machine-based methods for financial analysis and forecasting, including artificial intelligence), as well as risk and regulatory issues. IS work on FinTech started to emerge from 2015 onwards, initially focusing on mobile payment systems and peer-to-peer lending. However, the body of work at the intersection of FinTech and IS is still small. Our review sheds light on several opportunities for future research, including financial inclusion, the impacts arising from COVID-19, and the emergence of new business models, such as Banking as a Service (BaaS). © 2022 by the Association for Information Systems.

16.
Journal of Financial Counseling and Planning ; 33(2):160-170, 2022.
Article in English | ProQuest Central | ID: covidwho-1933446

ABSTRACT

When the COVID-19 pandemic caused businesses to close and triggered high unemployment in 2020, millions of unbanked U.S. households, those without a bank account, had to wait for weeks and months for their stimulus checks to arrive. The delayed delivery of stimulus checks issued by the Coronavirus Aid, Relief, and Economic Security (CARES) Act sheds light on the critical role that safe, affordable financial services and products play in people’s ability to cope with financial shocks. Dialogues over banking practices have been framed with a banked-unbanked dichotomous framework that masks more nuanced understandings of households’ financial realities, including the underbanked, who use a bank account and alternative financial services simultaneously. Using data from the 2015 National Financial Capability Study, this study identifies and compares predictors of being underbanked and unbanked, respectively. We found that the underbanked group is a sizable, distinctively different group. Income volatility and welfare benefit receipt are both associated with being underbanked rather than unbanked. Our findings call for expanding the current, limited framework to gain more complete, nuanced understandings of banking practices.

17.
SSRN; 2022.
Preprint in English | SSRN | ID: ppcovidwho-339924

ABSTRACT

Mobile Money (MM) is gradually replacing cash as the primary method of payment for the unbanked and underserved in Ghana. The rapid expansion of mobile phone use, particularly in rural areas, has contributed to Ghana's rapid growth in MM usage. This study looks into whether recent changes in the mobile money sector especially after COVID-19 have been disrupting or enabling the sector. In the article, we used a review of policies and academic literature as our methodology. According to the findings, Mobile Money Interoperability is one of Ghana's most significant financial sector advancements, resulting in an increase in mobile money transactions. It also demonstrates that regulation has a significant influence on the use and uptake of mobile money. Regulation influences both the range of services offered, such as inter-person transfers, bill payments, merchant payments, and overseas remittances, as well as the ease with which new consumers can sign up for mobile money services. Furthermore, the results show that, while the use of mobile money services is increasing, cybercrime and fraud are also evolving in the mobile money market. The study also touches on the impact of the electronic levy (e-levy) on digital financial services and mobile money with the potential impact on the growth of the sector. According to the study, regulators can act as catalysts for greater financial inclusion by enacting laws and rules that make basic financial services more accessible and common. Policies and regulations promoting financial literacy in the mobile money space will have a significant impact on reducing mobile money fraud. It also implies that mobile money is a more accessible option for holding and maintaining money than traditional banks because more people use mobile phone technology and find it more convenient to access than physical banks. As a result, the study emphasizes the importance of encouraging customer protection and financial literacy. Furthermore, regulators and stakeholders should promote the expansion of the m-money platform in order to close the financial inclusion gap. The policy brief has insights for practitioners, policymakers and the academic community.

18.
VUZF Review ; 7(2):205-215, 2022.
Article in Bulgarian | ProQuest Central | ID: covidwho-1925020

ABSTRACT

The digitalization of financial services of banks and financial institutions has become important in the digital economy and has spread significantly during the pandemic. Digital financial literacy has become urgency. For its part, this has led to a new cycle in the development of digital financial literacy. The purpose of this article is to study the development of digital financial literacy in CEE countries and to develop recommendations for the implementation of national strategies for digital financial literacy, including for Ukraine. Identify factors and potential problems that may arise on a result of developing and implementing national digital strategies of financial literacy and identify the main components and indicators for evaluating the implementation of these strategies. Determined that, Ukraine has everything necessary for the successful implementation of initiatives in the field of financial technologies, namely: growing penetration of mobile communications and the Internet, innovative banking institutions, the availability of world-class talent.The creation of a separate unit on digital financial literacy in the National Bank of Ukraine, responsible for implementing the national strategy of digital financial literacy will ensure the unity of scientific and economic policy and integration of NDFIS development goals into digital modernization projects based on powerful feedback mechanisms. The main tasks of such a unit will be to develop appropriate methodological support for selecting and tracking the results of the implementation of the national strategy, assisting staff employed in the implementation of NDFIS and even reviewing the existing structure and powers of executive bodies at national and local levels.

19.
8th International Conference on Advanced Computing and Communication Systems, ICACCS 2022 ; : 1550-1553, 2022.
Article in English | Scopus | ID: covidwho-1922643

ABSTRACT

In the recent times, digital financial services have seen exponential growth with expanded opportunities to individuals, especially women. In 2020, more than 240 million women, as compared to data of the year 2014, have a bank account and access to mobile payment services. However, compared to men, women are more likely to be poor and have less participation in the formal economy. They mostly find jobs in the informal economy. Therefore, there is a need to support women's financial status by providing them with appropriate infrastructure and resources and removing barriers to digital financial inclusion. In addition, the policymakers need to address the challenges in access to financial services for women, different laws and regulations, and limited access to technology. The study explores the challenges to women's access to online banking and policy options to strengthen women's participation in digital financial services. © 2022 IEEE.

20.
Front Public Health ; 10: 896894, 2022.
Article in English | MEDLINE | ID: covidwho-1903236

ABSTRACT

Tourism is impacted by all types of crises, no matter how big or small. Even though many studies have examined tourism crises, most focus on the number of tourists arriving and departing. As a result of this lack of information, The adaptive differences in tourist behavior caused by various crises are not well understood. When it comes to inbound tourism, the financial and health-related crisis can significantly impact the tourist profile of the country and its visitors' spending habits. The findings show that the health crisis has a significant positive impact on tourism. Moreover, COVID_deaths and COVID_confirm_cases decrease the international tourism in developed and developing countries. According to the study's findings, tourists' sensitivity to crises varies between short- and long-haul markets. The evidence shows that financial inclusion has a significant positive impact on various aspects of tourism development in China. Hence, this article offers numerous policy and practical suggestions for sustainable tourism management.


Subject(s)
COVID-19 , Tourism , China , Humans , Travel
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