Digital Banking and Financial Technology

A special issue of Journal of Risk and Financial Management (ISSN 1911-8074). This special issue belongs to the section "Financial Technology and Innovation".

Deadline for manuscript submissions: 30 June 2024 | Viewed by 9889

Special Issue Editors


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Guest Editor
Department of Accounting, Banking and Finance, University of Canberra, Canberra, ACT 2617, Australia
Interests: efficiency and productivity; E-commerce; anti-money laundering and microfinance
Special Issues, Collections and Topics in MDPI journals

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Guest Editor
School of Information Technology, RMIT University, Hanoi, Vietnam
Interests: blockchain; cryptocurrencies; FinTech; e-commerce; cyber security; artificial intelligence

Special Issue Information

Dear Colleagues,

With advances in technology, traditional banking services are increasingly being offered digitally. Digital banking obviates the need for physical presence or brick-and-mortar banking. Financial technology, or fintech for short, refers to the delivery of financial services using innovative technologies. Buy-Now-Pay-Later services, for example, allow users to shop around and pay back later in interest-free instalments. Both digital banking and fintech are revolutionizing the financial services world. This Special Issue brings together papers that document the state-of-art in these areas. Research papers documenting theoretical and empirical research on how digital banking and fintech are shaping financial services are welcome.

Prof. Dr. Milind Sathye
Prof. Dr. Sam Goundar
Guest Editors

Manuscript Submission Information

Manuscripts should be submitted online at www.mdpi.com by registering and logging in to this website. Once you are registered, click here to go to the submission form. Manuscripts can be submitted until the deadline. All submissions that pass pre-check are peer-reviewed. Accepted papers will be published continuously in the journal (as soon as accepted) and will be listed together on the special issue website. Research articles, review articles as well as short communications are invited. For planned papers, a title and short abstract (about 100 words) can be sent to the Editorial Office for announcement on this website.

Submitted manuscripts should not have been published previously, nor be under consideration for publication elsewhere (except conference proceedings papers). All manuscripts are thoroughly refereed through a single-blind peer-review process. A guide for authors and other relevant information for submission of manuscripts is available on the Instructions for Authors page. Journal of Risk and Financial Management is an international peer-reviewed open access monthly journal published by MDPI.

Please visit the Instructions for Authors page before submitting a manuscript. The Article Processing Charge (APC) for publication in this open access journal is 1400 CHF (Swiss Francs). Submitted papers should be well formatted and use good English. Authors may use MDPI's English editing service prior to publication or during author revisions.

Keywords

  • fintech
  • digital banking
  • new payment services

Published Papers (4 papers)

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Research

18 pages, 877 KiB  
Article
Investigating the Components of Perceived Risk Factors Affecting Mobile Payment Adoption
by Eugene Bland, Chuleeporn Changchit, Charles Changchit, Robert Cutshall and Long Pham
J. Risk Financial Manag. 2024, 17(6), 216; https://doi.org/10.3390/jrfm17060216 - 21 May 2024
Viewed by 1116
Abstract
As smartphone ownership rapidly expands, mobile payment options are gaining popularity due to the portability and convenience they offer. This study examines attitudes towards adopting mobile payment, focusing on the component risk, which consists of multiple dimensions including performance, financial, time, psychological, and [...] Read more.
As smartphone ownership rapidly expands, mobile payment options are gaining popularity due to the portability and convenience they offer. This study examines attitudes towards adopting mobile payment, focusing on the component risk, which consists of multiple dimensions including performance, financial, time, psychological, and social risks. The study uses a quantitative approach, collecting data through a survey distributed to mobile payment users, with 361 respondents in the United States. The survey instrument includes measures of performance and psychological risk, as well as attitudes towards mobile payment acceptance. Data analysis using SPSS 25.0 and AMOS 24.0 reveals that both performance and psychological risk significantly negatively impact attitudes towards mobile payment acceptance, underscoring the importance of mobile payment service providers implementing effective risk management policies to improve users’ positive attitudes towards their platforms. Full article
(This article belongs to the Special Issue Digital Banking and Financial Technology)
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21 pages, 680 KiB  
Article
Decrypting Cryptocurrencies: An Exploration of the Impact on Financial Stability
by Mohamed Nihal Saleem, Yianni Doumenis, Epameinondas Katsikas, Javad Izadi and Dimitrios Koufopoulos
J. Risk Financial Manag. 2024, 17(5), 186; https://doi.org/10.3390/jrfm17050186 - 30 Apr 2024
Viewed by 1169
Abstract
This study aims to empirically examine the relationship between cryptocurrency and various facets of the financial system. It seeks to provide a comprehensive understanding of how cryptocurrencies interact with, and influence, the stock market, the U.S. dollar’s strength, inflation rates, and traditional banking [...] Read more.
This study aims to empirically examine the relationship between cryptocurrency and various facets of the financial system. It seeks to provide a comprehensive understanding of how cryptocurrencies interact with, and influence, the stock market, the U.S. dollar’s strength, inflation rates, and traditional banking operations. This is carried out using linear regression models, Granger causality tests, case studies, including the collapse of the Futures Exchange (FTX), and the successful integration of Binance. The study unveiled a strong positive correlation between cryptocurrency market capitalization and key financial indicators like the Dow Jones Industrial Average, Consumer Price Index, and traditional banking operations. This indicates the growing significance of cryptocurrencies within the global financial landscape. However, a mild association was found with the U.S. dollar, suggesting a limited influence of cryptocurrencies on traditional fiat currencies currently. Despite certain limitations such as reliance on secondary data, methodological choices, and geographic focus, this research provides valuable insights for policymakers, financial industry stakeholders, and academic researchers, underlining the necessity for continued study into the complex interplay between cryptocurrencies and financial stability. Full article
(This article belongs to the Special Issue Digital Banking and Financial Technology)
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18 pages, 571 KiB  
Article
Digital Banking through the Uncertain COVID Period: A Panel Data Study
by Kuldeep Singh, Sam Goundar, Preetha Chandran, Amit Kumar Agrawal, Nimisha Singh and Prasanna Kolar
J. Risk Financial Manag. 2023, 16(5), 260; https://doi.org/10.3390/jrfm16050260 - 29 Apr 2023
Cited by 1 | Viewed by 2221
Abstract
This research investigates how the uncertainty caused by the COVID-19 pandemic has affected digital banking usage in India. The study is made by utilizing a panel of data consisting of 108 firm-month observations during covid period from 2020 to 2022, with data mainly [...] Read more.
This research investigates how the uncertainty caused by the COVID-19 pandemic has affected digital banking usage in India. The study is made by utilizing a panel of data consisting of 108 firm-month observations during covid period from 2020 to 2022, with data mainly collected to analyze the impact of COVID-19 uncertainty. Most of the determinants were collected from the RBI data website. The main emphasis of this study is on the utilization of digital banking services in the context of the pandemic, and the research assesses the factors that have influenced this trend, including the number of physical bank branches, the utilization of debit and credit cards at automated teller machines (ATMs) and points of sale (PoS), as well as the level of economic policy uncertainty (EPU). The analysis was conducted using panel regression analysis, a suitable method for handling the error components in the model that are either fixed or random. The findings indicate that the uncertainty caused by the pandemic has had a negative impact on the use of digital banking services. Additionally, the study highlights that the usage of debit and credit cards at PoS has significantly contributed to promoting the progress of digital banking services during the pandemic. Overall, this study provides valuable insights into how digital banking services have evolved during a period of significant uncertainty and disruption. Full article
(This article belongs to the Special Issue Digital Banking and Financial Technology)
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13 pages, 1131 KiB  
Article
Virtual IBAN as a Service in the Law of the European Union and Poland
by Michał Grabowski
J. Risk Financial Manag. 2022, 15(12), 566; https://doi.org/10.3390/jrfm15120566 - 30 Nov 2022
Cited by 3 | Viewed by 4270
Abstract
The purpose of this paper is to present the two existing virtual account models functioning in the European Union, examine their legal validity and identify the legal challenges related to the functioning of these models. The first model, Mass Payment Accounts, which is [...] Read more.
The purpose of this paper is to present the two existing virtual account models functioning in the European Union, examine their legal validity and identify the legal challenges related to the functioning of these models. The first model, Mass Payment Accounts, which is related to virtual accounts rather than to virtual IBANs, is the model where the licensed financial institution only provides a business payment (settlement) account, with technical subaccounts, to one of their business clients. The functionality of the subaccounts is limited to reflect and distinguish the incoming payments. The second and more complex model is the vIBAN solution, where the licensed payment institution provides, to another licensed financial institution, indirect access to local payment schemes (hereinafter referred to as “vIBAN”). To confirm the legal validity and identify the potential risks of vIBAN services, EU law was analysed with some insights from Polish law. The reason for introducing vIBAN services is the difficulty for certain payment service providers to participate in so-called designated payment systems. Designated payment systems are usually the most widespread local payment systems. The reason for the different treatment of these designated systems is banking systemic risk, understood as a situation where a default by a system participant may result in a default by other participants. Consequently, even if a given payment service provider can obtain its own IBAN number, there is often no possibility for it to participate in designated payment schemes. Bearing in mind the different rules in the case of designated payment systems, the legality of vIBAN services in the EU law is justified by the principle of free movement of services, the principle of equal access to payment schemes and the obligation of the credit institutions to provide banking and non-banking participants with credit institution payment account services on an objective, non-discriminatory and proportionate basis. However, there are various challenges related to the functioning of vIBAN services, such as the overlapping of certain AML/CFT obligations, enforcement of administrative and court seizures, AML-related blocking of vIBANs and consistency of money transfer sender data with the Fund Transfer Regulation. The most pressing challenges requiring prompt regulation on the European level are related to the applicable deposit protection scheme, as well as to specific Member States’ administrative restrictions, which can cause difficulties in offering vIBAN services to business entities. Full article
(This article belongs to the Special Issue Digital Banking and Financial Technology)
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