Application of Big Data with Fintech in Financial Services

Awotunde, Joseph Bamidele; Adeniyi, Abidemi Emmanuel; Ogundokun, Roseline Oluwaseun; Ayo, Femi Emmanuel

doi:10.1007/978-981-33-6137-9_3

Cited by 47 publications

(25 citation statements)

References 54 publications

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“…The fields of work in statistics and computation are used in the interpretation of these data for purposes of better decision-making [75]. The continuously increasing datasets and ease of access have since been made possible through a collaboration of companies known as Fintech [76]. When it comes to obtaining big data networking requirements, database applications, and processing upgrades, there is no shortage of advice.…”

Section: Data Data Science and Big Data Analyticsmentioning

confidence: 99%

From Cyber–Physical Convergence to Digital Twins: A Review on Edge Computing Use Case Designs

Hlophe,

Maharaj

2023

Applied Sciences

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As a result of the new telecommunication ecosystem landscape, wireless communication has become an interdisciplinary field whose future is shaped by several interacting dimensions. These interacting dimensions, which form the cyber–physical convergence, closely link the technological perspective to its social, economic, and cognitive sciences counterparts. Beyond the current operational framework of the Internet of Things (IoT), network devices will be equipped with capabilities for learning, thinking, and understanding so that they can autonomously make decisions and take appropriate actions. Through this autonomous operation, wireless networking will be ushered into a paradigm that is primarily inspired by the efficient and effective use of (i) AI strategies, (ii) big data analytics, as well as (iii) cognition. This is the Cognitive Internet of People Processes Data and Things (CIoPPD&T), which can be defined in terms of the cyber–physical convergence. In this article, through the discussion of how the cyber–physical convergence and the interacting dynamics of the socio-technical ecosystem are enablers of digital twins (DTs), the network DT (NDT) is discussed in the context of 6G networks. Then, the design and realization of edge computing-based NDTs are discussed, which culminate with the vehicle-to-edge (V2E) use cases.

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Section: Data Data Science and Big Data Analyticsmentioning

confidence: 99%

From Cyber–Physical Convergence to Digital Twins: A Review on Edge Computing Use Case Designs

Hlophe,

Maharaj

2023

Applied Sciences

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“…Chinnasamy et al, 7 Duque et al, 33 Warjiyono et al, 34 Mei et al, 43 Seara et al, 45 Caragea et al, 53 Selim, 58 Anagnostopoulos, 65 Ju ¨nger and Mietzner, 68 Boot et al, 81 Laidroo and Avarmaa, 89 Palladino, 90 Yao and Song, 95 Mention, 97 Panos and Wilson, 98 Yoon and Jun, 100 Das, 107 Awotunde et al, 112 4.…”

Section: Ai and Mlbased Modelsmentioning

confidence: 99%

Utilizing the collective wisdom of fintech in the gcc region: A systematic mapping approach

Khan

Nazir

2022

Measurement and Control

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Globally, with the maturity of information technology, society is now in the information age, magnifying the significance of integrating innovative applications in different financial and other regulatory arenas. The emergence of financial technology (FinTech) based applications has transformed the traditional banking and regulatory systems and enhanced customer satisfaction by providing a balanced environment for protecting its customers from risky behavior or other potential disruptions. Besides these critical applications of FinTech in the financial industry, it is not developed in the Gulf Cooperation Council (GCC) region as in China, United States, and other developed countries. In order to bridge the gaps in the extant by identifying the critical factors involved, this research work presents a systematic analysis of the available literature reported during the period ranging from 2016 to 2021. This systematic mapping of the extant was performed by selecting five different research questions. The key objectives of this systematic research work are, (1) To identify the barriers that restrict the rise of FinTech in the GCC region, (2) Analyze the behavior of different communities regarding the adaptation of FinTech by evaluating the case studies reported, (3) the impacts of FinTech on different communities in the GCC region. (4) The findings of this research work will not only help the state development bodies by encouraging its stakeholders to use FinTech-driven applications in banking, markets, etc. but it will also help the people in maintaining long-term connection with the Ministries of Foreign Affairs, the Dutch regulators, Economic Affairs, the Dutch Central Bank (DNB), as well as with the Authority on Financial Markets (AFM), and (5) this study work will present new research directions for the research community to explore in the near future.

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“…Third, RAs gain trust (Cheng et al, 2019) as they are marketed as an option (Tao et al, 2021) under the professional management of a reputable and regulated professional service firm. The firm targets techsavvy, cost-conscious users and portrays itself (Woodyard and Grable, 2018) as a leader in financial best practices in mobilizing "big data" (Awotunde et al, 2021). Last, the successful introduction of RA sets a trajectory and pathway for opening algorithmic authority as a replacement for a professional agent.…”

Section: Ra: Professional Knowledgementioning

confidence: 99%

“…, 2021) under the professional management of a reputable and regulated professional service firm. The firm targets tech-savvy, cost-conscious users and portrays itself (Woodyard and Grable, 2018) as a leader in financial best practices in mobilizing “big data” (Awotunde et al. , 2021).…”

Section: Ra: Professional Knowledgementioning

confidence: 99%

Robo-Advice (RA): implications for the sociology of the professions

Wexler

Oberlander

2021

IJSSP

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PurposeThis conceptual paper explores the implications for the sociology of the professions of robo-advice (RA) provided by robo-advisors (RAs) as an early example of successfully programmed algorithmic knowledge managed by artificial intelligence (AI).Design/methodology/approach The authors examine the drivers of RAs, their success, characteristics, and establish RA as an early precursor of commercialized, programmed professional advice with implications for developments in the sociology of the professions.FindingsWithin the lens of the sociology of the professions, the success of RAs suggests that the diffusion of this innovation depends on three factors: the programmed flows of automated professional knowledge are minimally disruptive, they are less costly, and attract attention because of the “on-trend” nature of algorithmic authority guided by AI. The on-trend nature of algorithmic governance and its increasing public acceptance points toward an algorithmic paradox. The contradictions arise in the gap between RA marketed to the public and as a set of professional practices.Practical implicationsThe incursion of RA-like disembodied advice into other professions is predicted given the emergence of tech-savvy clients, the tie between RA and updatable flows of big data, and an increasing shift to the “maker” or “do-it-yourself” movements.Originality/valueUsing the success of RAs in the financial industry, the authors predict that an AI-managed platform, despite the algorithmic paradox, is an avenue for growth with implications for researchers in the sociology of the professions.

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Application of Big Data with Fintech in Financial Services

Cited by 47 publications

References 54 publications

From Cyber–Physical Convergence to Digital Twins: A Review on Edge Computing Use Case Designs

From Cyber–Physical Convergence to Digital Twins: A Review on Edge Computing Use Case Designs

Utilizing the collective wisdom of fintech in the gcc region: A systematic mapping approach

Robo-Advice (RA): implications for the sociology of the professions

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