This book develops insights of digitalization and the future of financial services to originate an innovative approach to financial field, in order to underpin research and practice in the wide area of digital finance. The aim of this book is to extend our understandings on how digitalization and the future of financial services can be helpful in different business circumstances in many cross-functional financial areas, such as financial markets, financial risk management, financial technologies, investment finance, etc. Thus, the book aims at addressing the relevance of digital finance for different players, highlighting differences in tools and processes as well as identifying innovative practices in financial digitalization. This can result in some novel theoretical and practical insights that can foster financial players, in order to proactively explore and exploit opportunities in financial digitalization and offset financial risks and increase efficiency.
Author(s): Darko B. Vuković, Moinak Maiti, Elena M. Grigorieva
Series: Contributions to Finance and Accounting
Publisher: Springer
Year: 2022
Language: English
Pages: 228
City: Cham
Preface
Introduction
Contents
About the Editors
Digital Finance and Financial Services
1 Introduction
2 Financial Inclusion
3 Stylized Facts of Financial Inclusion
4 Literature Review
5 Modelling the Volatilities of Performance of Technology-Driven Financial Services Companies
6 Conclusion
References
Innovation and Fintech
1 Introduction
1.1 A Brief History of the Development of Financial Innovation
2 Modern World of Finance-World of Innovation
3 Emergence and Growth of the Financial Technology (Fintech) Significance
4 Financial Technology Application
5 Conclusions
References
Central Bank and Fintech: Regulatory Challenges and Framework
1 Introduction
1.1 Fintech Innovations
1.2 Adoption of Fintech Services
1.3 Recent Growth Status of Fintech
2 Regulatory Challenges for Fintech
2.1 Challenges for Central Banks
2.1.1 Monetary Policy Implementation and Transmission
2.1.2 Financial Stability
2.1.3 Payment System-Associated Risk
2.1.4 Cybersecurity Risk
2.1.5 Speculative Risk
2.1.6 International Payments Standardization
3 Central Bank
3.1 Commercial Banks
3.2 Technology
3.3 Learning from International Experience
4 Regulatory Policies for Fintech
4.1 Assessing the Suggestions of Previous Studies
4.1.1 Use of RegTech
4.1.2 Regulatory Changes in the EU
4.1.3 Regulatory Landscape
4.1.4 Joint Ventures with Financial Intermediaries
4.1.5 Need for Entry Barriers to Avoid the Concentration
4.1.6 Central Bank Digital Currency (CBDC) in Cross Border Payments
4.1.7 Functionality-Based Regulatory Framework
5 Need for Regulatory Framework in the Indian Context
6 Bank-Fintech Cooperation
7 International Regulatory Landscape
8 Shift from Activity-Based Regulation to Entity-Based Regulation
9 Conclusion
References
The Dematerialization of Money in the Age of COVID-19 Pandemic: A New Future for Digital Finance?
1 Introduction
2 The Dematerialization of Money
3 The Impact of COVID-19 Pandemic in Cryptocurrency Market
4 Which Future for Digital Finance?
5 Conclusion
References
International Financial Markets in the Digital Era
1 Introduction
2 Impact of Electronic Trading on the Market
2.1 Impact on the Market Structure
2.2 Impact on Price Quality
2.3 Impact on Market Stability
3 The Case of the Foreign Exchange Market
3.1 Technical Innovations
3.2 Market Size and Structure
3.3 How FX Is Traded in the Dealer-Customer Market?
4 Summary
References
Response of BTC Market to Social Media Sentiment: Application of Cross-Quantilogram with Bootstrap
1 Introduction
1.1 Twitter-Based Uncertainty
2 Literature Review
3 Methodology and Data
3.1 Data and Sources
3.2 Cross-Quantilogram
4 Results and Discussion
4.1 Twitter-Based Economic Uncertainty Index to Bitcoin Returns
4.2 Twitter-Based Economic Uncertainty -Weighted Index to Bitcoin Returns
4.3 Twitter-Based Economic Uncertainty Scaled Index to Bitcoin Returns
4.4 Twitter-Based Economic Uncertainty Originated from Tweets in English Index to Bitcoin Returns
5 Empirical Findings
6 Conclusion
References
The Impact of Digitalization on the Introduction of Innovations into BFSI Activities
1 Introduction
1.1 Overview of Financial Innovations and Their Impact on Changing the Business Model of BFSI
1.2 Aspects of the Transformation of Regulatory Practice and the Development of Digital Technologies
References
AI, Blockchain, and IOT
1 Introduction
2 Internet of Things
3 IoT in Finance
4 Blockchain Technology
5 Blockchain in Finance
6 Smart Contracts
7 Artificial Intelligence
8 AI in Finance
9 AI, Blockchain, and IoT
10 Fintech
11 Conclusion
References
Role of Digital Financial Inclusion in Promoting Economic Growth and Freedom
1 Introduction
2 Financial Inclusion and Freedom
3 Digital Finance in the Modern Industrial Era
4 Economic Freedom, Financial Development, and Growth
5 Financial Freedom in BFSI Via Bank Efficiency
6 Conclusion
References
Nexus of Digitalization, Social, and Governance Factors
1 Business in the Era of Digitalization
2 Digitalization in Corporate Sustainability Reporting
3 Application of Extensible Business Reporting Language (XBRL)
4 Applying XBRL for ESG Reporting
References
Risk of Digitalization and Financial Freedom
1 Introduction
2 Innovation as a Factor of Digitalization and Financial and Digital Freedom
3 Bank Sector as a Factor of Financial Freedom in Digitalization Process
4 Cryptocurrencies and Digital Technologies as a Factor of Financial Freedom and Digitalization
5 Conclusion
References
