Goto

Collaborating Authors

How AI & Machine Learning is Infiltrating the Fintech Industry?

#artificialintelligence

Fintech is a buzzword in the modern world, which essentially means financial technology. It uses technology to offer improved financial services and solutions. How AI and machine learning are making ways across industries, including fintech? The use of artificial intelligence (AI) and machine learning (ML) is evolving in the finance market, owing to their exceptional benefits like more efficient processes, better financial analysis and customer engagement. According to the prediction of Autonomous Research, AI technologies will allow financial institutions to reduce their operational costs by 22%, by 2030.


Fintech, regtech, and financial development: evidence from China - Financial Innovation

#artificialintelligence

This study investigates the influence of fintech on developments in China’s financial sector across 290 cities and 31 provinces between 2011 and 2018. Using a two-stage least squares instrumental variable regression approach and correcting for cross-sectional dependency, simultaneity, and endogeneity of regressors, the results establish a positive link between fintech and financial development. Our findings show that fintech supports financial sector development by enhancing access (loans), depth (deposits), and savings within China’s financial institutions. We also show that the emergence of fintech in the area of financial regulation (regulatory technology: regtech) can significantly improve financial development outcomes. Therefore, it is imperative for regulators to pursue policies that balance growth in the fintech sector while mitigating the associated risks. In addition, we use the difference-in-differences approach to show that policy measures such as interest rates liberalization also positively impacted financial development during the analysis period. In our conclusion, we suggest a policy framework for balanced fintech sector growth in developing countries.


14 Fintech Trends To Watch For In 2020

#artificialintelligence

Automation and technology aimed at improving financial services--fintech--has garnered a lot of attention lately. From crowdfunding to mobile payments and money transfer services, fintech has the potential to revolutionize how consumers and businesses handle financial transactions. As with any technology, fintech developments happen quickly, and smart business owners will want to keep up. Below, 14 members of Forbes Finance Council take a look at the trends in fintech that could rise to prominence over the next year. Members of Forbes Finance Council share the trends they believe will dominate fintech over the next year.


FinTech trends to lookout for in 2022

#artificialintelligence

The Indian FinTech sector has witnessed substantial growth in the past few years and has rapidly transformed the financial sector. As per a study conducted by Boston Consulting Group and FICCI, the sector is likely to achieve a valuation of $150-160 billion by 2025. There are over 2,100 FinTech companies in the country, of which 67% were set up in the past five years. Traditionally, banks have served as the gateway to payment services. However, with the advent of technology and digitisation in the financial sector, this domination is gradually declining as an increasing number of Fintech companies enter the fray.


How Fintech Companies Are Failing To Help Millennials With Financial Security

#artificialintelligence

Low incomes, high urban rents, hefty student debt and spending habits are just a few reasons millennials struggle with their finances. That's why this generation is an easy target for fintech companies, which often claim to help people save money and manage their spending. However, many current efforts fall short because they're focused on the wrong aspects of financial health. A panel of Forbes Finance Council members shared their thoughts on how fintech startups are dropping the ball in helping millennials work toward a secure financial future. Members of Forbes Finance Council discuss ways fintech startups are failing to serve millennials.Photos courtesy of the individual members.