The Role of Information Technology in Fintech Innovation: Insights from the New York City Ecosystem

Mamonov, Stanislav

doi:10.1007/978-3-030-44999-5_26

Cited by 8 publications

(5 citation statements)

References 28 publications

Supporting

Mentioning

Contrasting

Order By: Relevance

“…More importantly internet usage plays crucial roles in the automation of service delivery in the financial sector which has been identified as a significant motivator of remittance inflow. In fact, internet has been identified as a key enabler of financial technology (fintech) which has brought about massive transformation in financial services delivery including remittance processing (Lewan, 2018;Mamonov, 2020). In all, the findings corroborate the conclusions of prior related studies including Elmi andNgwenyama (2020), Gascon et al (2023), Ahmed and NaRanong (2023) for Somalia, Bangladeshi and El Salvador respectively.…”

Section: Findings and Discussionsupporting

confidence: 84%

Remittance inflows in a digital economy: A Sub-Saharan African experience

Jemiluyi,

Jeke

2024

J. Infras. Policy. Dev.

View full text Add to dashboard Cite

The undeniable importance of migrants’ remittances to the welfare of developing countries was again demonstrated during the COVID-19 pandemic. This has therefore led to a significant shift in attention to the relevance of remittances and has likewise spurred research interest in factors that motivate the inflows of remittances. However, in spite of the increasing recognition of the roles of digital technology in the macroeconomic performance of developed and developing economies alike, empirical analysis of its possible impacts on remittance inflows has not been well explored in the literature. Therefore, pooling the annual data of 35 sub-Saharan African (SSA) countries from 2011 to 2020, this study investigates the nexus between digital technology and remittance inflows within the generalized method of moments (GMM) framework. Using two measures of digital technology infrastructure—internet usage and mobile cellular subscription—the study finds a positive relationship between digital technology and remittances inflow. In addition, the findings indicate that the magnitude of the effect is relatively higher for internet usage. The study thus shows that the increased rate of remittance mobilization constitutes a significant pathway through which digital technology impacts the economies of the SSA region. Moreover, it offers further insight on the importance of digital technology in the socioeconomic development of developing countries. From a policy standpoint, governments and policymakers in SSA countries should intensify efforts to promote the diffusion and penetration of digital infrastructure.

show abstract

Section: Findings and Discussionsupporting

confidence: 84%

Remittance inflows in a digital economy: A Sub-Saharan African experience

Jemiluyi,

Jeke

2024

J. Infras. Policy. Dev.

View full text Add to dashboard Cite

show abstract

“…The role of information technology in driving innovation is underscored, with information technology playing a critical role in orchestrating resources and processes to efficiently deliver personalized financial services to customers (Mamonov, 2020). Technological innovations like blockchain and the Internet of Things (IoT) can potentially transform traditional financial services (Hudaefi et al, 2023).…”

Section: Review Of Fintech Ecosystemmentioning

confidence: 99%

“…This is due to differing perspectives on FinTech among banks and technology. However, the importance of a supportive ecosystem, effective regulation, and collaboration between traditional financial institutions, startups, and government agencies for the successful development of the FinTech industry are emphasized (Arkanuddin et al, 2021;Avarmaa et al, 2022;Basole & Patel, 2018;Castro et al, 2020;Mamonov, 2020).…”

Section: Review Of Fintech Ecosystemmentioning

confidence: 99%

Unveiling the Potential of the Islamic Fintech Ecosystem in Emerging Markets

Ajouz,

Abuamria

2023

AQUJIE

View full text Add to dashboard Cite

Islamic FinTech combines Islamic financial principles with advanced technology, offering a unique approach to financial inclusion in emerging markets. This study aimed to examine the critical aspects of the Islamic FinTech ecosystem and provide a roadmap for stakeholders to improve financial inclusion in these markets. A qualitative research methodology was employed, using semi-structured interviews, which are structured based on the FinTech ecosystem dimensions, which include talents, demand, policy, and capital, to analyze the Islamic FinTech ecosystem in emerging markets. The study found that improvements are needed in talent development, customer-centric products, government policies, and investment strategies to enhance the Islamic FinTech ecosystem. The study's results indicate a strong demand for innovative Islamic financial products in emerging markets, with high acceptance and adoption rates. However, several aspects need improvement, including developing locally tailored products and services suitable for emerging markets, building trust and credibility, and fostering partnerships between traditional Islamic financial institutions and FinTech startups. The study also highlights the importance of government policies, regulations, and capital investments in nurturing a healthy Islamic FinTech ecosystem in emerging markets. The originality lies in the comprehensive analysis of the diverse perspectives of different stakeholders by providing original insights into the Islamic FinTech ecosystem in emerging markets and its potential role in promoting financial inclusion.

show abstract

“…This theory is becoming increasingly popular with the development of electronic banking and financial globalization. A historical view of the development of financial technologies and the prospects for the impact of ecosystem principles on investment decisions are uncovered in the publications of Lee and Yong Jae Shin, S. Mamonov, and other FinTech innovation researchers (Lee & Shin, 2018;Mamonov, 2020;Castro et al, 2020, etc.). Forming ecosystems in the financial sector of Russia is considered in detail in the publication of G.B.…”

Section: Investment Ecosystems As a Factor Of Changes In The System Of Interaction Between Investors And Financial Market Professionalsmentioning

confidence: 99%

The impact of technological and institutional transformation of the global financial market on education

Sukiasyan

Ershov

Poletaev

et al. 2021

revtee

View full text Add to dashboard Cite

The article is devoted to forming new educational directions conditioned by the technological and institutional transformation of the global financial market in the 21st century. The modern digital economy puts forward new requirements for the competencies and professional ethics of specialists working in the investment sphere. The authors have identified the key factors determining the tasks of modernizing the training of financial analysts, bankers, and lawyers specializing in investment law. The problem concerns issues of digitalizing and globalizing investment flows, forming investment ecosystems, and expanding the participation of large financial businesses in educational projects. The authors conclude that global technological and socio-economic transformations stimulate the entire financial world, including Russia, to revise their business models, and the spheres of financial and specialized legal education – to actively modernize according to market requirements.

show abstract

The Role of Information Technology in Fintech Innovation: Insights from the New York City Ecosystem

Cited by 8 publications

References 28 publications

Remittance inflows in a digital economy: A Sub-Saharan African experience

Remittance inflows in a digital economy: A Sub-Saharan African experience

Unveiling the Potential of the Islamic Fintech Ecosystem in Emerging Markets

The impact of technological and institutional transformation of the global financial market on education

Contact Info

Product

Resources

About