FinTech platforms

India is a growing market for Fintech with a population of nearly 1.3 billion. A huge percentage of unbanked and under banked population is making India an exhilarating global space for financial technologies. Fintech is regarded as a game changer and disruptive innovation which is capable of shaking up the traditional financial markets. Fintech has been growing rapidly in India in the last five years and is expected to grow further in the nearest future. At this outset the article focuses on the basic types of financial technologies and their functions and also discusses the opportunities and challenges it has in the Indian business environment

Finance and technology are inching closer to convergence by the day; while older investors may be reluctant to have robots doing their investing for them, many millennials are jumping unto the new asset management bandwagon. Thus, allowing algorithms to predict and recommend investment plans and automatically balance portfolios for them based on information such as age, risk tolerance level, investment goals, etc. Robo-advisory software programs periodically buy and sell securities to keep the mix matched to investors' risk tolerance. This study shows that the emerging issues around fintech only serve to signal that the asset management industry is set for a massive overhaul as more investors seek to substitute the human asset manager for robots and algorithms. Personal finance management especially for low net worth individuals is in a nascent stage of undergoing a complete revolution as these technologies continue to develop. Adventurous investors are encouraged to try robo-advisory services. Although robo-advisory is still at a very rudimentary level especially in developing countries, asset management companies need to recognize the impending disruption and use it to their advantage or risk being smothered by the technology. Introduction:

FinTech is a relatively recent and unique amalgamation of financial services and information technology. However, finance and technology have long gone together and support each other, with financial firms supplying the capital to fund technological developments and then incorporating many of these new technologies into their business. In fact, one could argue that one of the earliest examples of FinTech occurred in the mid-1800s with the introduction of the telegraph and the laying of the first transcontinental telegraph line, which helped integrate the national economy. In 1871, 10 years after the first transcontinental telegraph, Western Union introduced money transfers making them arguably the country's first FinTech firm. A more recent FinTech example occurred in 1967, when Barclays introduced the Automatic Teller Machine or ATM. Thinking of FinTech as a recent phenomenon also ignores the fact that the financial industry has historically been the largest purchaser of information technology.

Digital technologies are deeply embedded into the daily activity of every capital markets professional. They have transformed the sales and trading business over time and will continue to improve it. The Digital Asset ecosystem has developed significantly since the advent of Bitcoin over a decade ago. Beyond cryptocurrencies, blockchain technology is going to have a revolutionizing impact on financial services, including Capital Markets. The Global Capital Markets including equities and bonds was valued at $177.5 Trillion at the end of 2019 according to research by SIFMA. These markets, in essence, represent data, and the benefits of transferring data on a blockchain include accessibility, liquidity, and transparency. The attributes of financial digital assets and how they will transform capital markets will be addressed in paper, focusing on how Blockchain and Distributed Ledger Technology (DLT) can fundamentally change the way financial institutions are exchanging value and building market infrastructure.

Purpose-The purpose of this study is to analyze the dynamics of creating a wealthy FinTech Ecosystem. The state of the Turkish FinTech Ecosystem will be used as a case to determine the components of a healthy FinTech Ecosystem. Methodology-This paper is designed on a self-reflection methodology. The author is the co-founder of FinTech Istanbul Platform, which is acting as a FinTech Hub to gather all the building blocks of the Ecosystem in Turkey since 2016. The reflections are based on the experience of the author gained both from Turkey and international hubs. Findings-The main components of a FinTech Ecosystem consist of 8 elements: New technologies and tools that enable innovations; telecom and technology companies that create infrastructure for distribution; startups that create innovative business models; government and regulators that define the rules of the game; financial institutions that cooperate with startups; customers and users who benefit from innovations; investors, incubation centers and accelerators that enable both financial aid and space for innovators. Conclusion-To create a wealthy FinTech Ecosystem, all players and stakeholders must work together and try to create synergy in order to sustain competitive advantage.

Financial services remain untapped by most of the small business owners in Bangladesh. This limited access to mobile financial services and FinTech presents a business opportunity for the FinTech startups in the market. TallyKhata and Upay are digital financial services platforms visualizing to capture the untapped sector by becoming one of the first movers in the industry. This article has studied the cases of TallyKhata and Upay in empowering small businesses in Bangladesh through the services that have made business transactions and credit management hassle-free.

El objetivo era crear una moneda fiduciaria que proporcionara seguridad y rapidez en las transacciones dado el entorno de crisis en el que se desarrolló, fungiendo como un medio de pago, sin embargo, últimamente se ha utilizado como un instrumento de inversión, debido a la rentabilidad que son capaces de generar en el corto plazo y su popularidad entre un sector social, sin embargo, no existe algo que sustente el valor de la criptomoneda diferente a su valorización por el juego de la oferta y demanda y el número de operaciones que se realice con ella, haciendo de su mercado, un mercado volátil.
Esta tecnología presenta características no de una moneda, sino de un medio de pago, así como de un instrumento de inversión además de ser prometedora en cuanto a transformar la industria financiera agilizando transacciones, reduciendo costos, brindando mayor seguridad e incluso facilitar la meta de inclusión financiera.

Course Essential Understanding:
Upon  successful  completion  of  the  course,  the student  is  expected  to  be  able  to demonstrate strong knowledge  on fintech  applications; the  history  &  usage of cryptocurrencies;  and  both  these  technology  domains’  main  market incentives and socioeconomic  drivers–gathering  a  solid understanding  of  the  opportunities  in  the ongoing revolution we  are  living  in.

The  course  is  divided  into  two  main domains with equal importance: We will first understand the digital revolution of Fintech. Then we will build  on  that  fundamental  knowledge  base  to  shift  to  how Cryptocurrencies offer  a completely alternative and exciting domain of money. The internet of money, so to say.

1.In  the first  half of  the  course  the  student  will  thoroughly understand  the  reasons why  banks  partner  with fintech companies  in  the  fields  of  payments,  insurance, lending, and digital KYC processes

2.In  the second  half of  the  course  the  student  will  be  able  to  clearly identify  and locate  the  historical  foundations of blockchain  technology and some  theoretical approaches in regards to the Bitcoin and Ethereum ecosystems.

This book presents a comprehensive overview of transactional forms of
the digital across Asia by studying the platforms and infrastructures that
shape the digital experience. It provides a definitive account of the core
features of the ways the digital economy in Asia is transforming everyday
lives.
Transactional relations between digital media platforms and new
forms of sociability are remediating social relationships for the digital
age. In capturing the digital revolution through case studies from across
the larger Asian region, the book offers a richly contextualised and comparative account that firmly situates the frontiers of the digital within
the Asian experience.

During the past few years, with the use and availability of the internet exponentially increasing, many sectors, including banking, undergo a rapid and often abrupt change in the way they operate. Technological innovations, along with changes to the preferences of the modern customer open up the way to a digitalised world. Banking services and delivery channels go through an enormous shift from traditional non-digitalised processes supported by bank employees, to fully online and self- serviced; rendering physical branches and employees vastly redundant. This research aims to examine this evolution by analysing the technological and sociological factors that have contributed to it, including advances in mobile telephony and online data management, as well as customer trends of reducing visits to physical branches and liaising with bank employees.

This thesis further illustrates how, with the use of cloud technology, big data analysis and internet of things devices, the transformation of financial institutions fostered the rise of tech-savvy start-ups, which are widely known as fintech companies. It also examines the effort made by traditional banking institutions to catch up with this new environment, by introducing mobile banking services that substitute their physical services. This thesis will also analyse some of the novel services provided by these start-ups including new ways of account management, mobile payments and wallets, cryptocurrency trading, P2P lending, AI robots, etc. Lastly, this research analyses the demographic characteristics of the customers adopting these novel services, as well as the regulations applied in the EU and UK in which financial and non-financial institutions operate in.

The research concludes that the future of banking is characterised by innovative services and products offered online which, however, would need to be supported by a regulatory framework, able to eliminate entry barriers for newcomers in the banking sector.

This paper aims to interrogate existing FinTech regulations in Nigeria, extract the challenges of the budding industry and illuminate on prospects with the underlying aim of proffering sublime, practical recommendations towards the optimal harnessing of immense potentials inherent in the industry, currently left untapped as a result of sparse and disharmonized regulations.

Abstract
The aim of this paper is to offer a broad framework to allow a better understanding of the current legal situation of Robo-Advisory. The disruption of robo-advisors as new market players in the financial sector are bringing new challenges that the regulators must face in the short term. For this reason, at this time, it is necessary to delve into some key aspects that regulators should consider in order to create and implement effi-cient regulation of this new phenomenon. The goal of this work is to clarify some as-pects in order to understand Robo-Advisory from the legal point of view, taking into account the determinant uses of Robotics, Artificial Intelligence (AI) and Digital Tech-nologies to the financial services, with a brief and particular focus on the European Fi-nancial Market Regulation.
Keywords
Fintech, Robolaw, Robo-Advisory, Robo-Advisors, Robotics, Law, Legal Informatics, AI, Regtech, Financial Markets

Abstract: India is a growing market for Fintech with a population of nearly 1.3 billion. A huge percentage of unbanked and under banked population is making India an exhilarating global space for financial technologies. Fintech is regarded as a game changer and disruptive innovation which is capable of shaking up the traditional financial markets. Fintech has been growing rapidly in India in the last five years and is expected to grow further in the nearest future. At this outset the article focuses on the basic types of financial technologies and their functions and also discusses the opportunities and challenges it has in the Indian business environment.
Keywords: Financial innovation, Customer experience, Payments, Security

A technology is generated from the development of science which is then implemented in society. Changes in science to technology are inseparable from scientists. A scientist will be confronted with personal interests or interests of the general public which bring to the issue of scientific ethics and value-free problems. Likewise with the progress of e-finance and mobile technology for financial companies. This prompted Fintech's innovation to emerge after the global financial crisis in 2008 by combining e-finance, internet technology, social networking services, social media, artificial intelligence, and Big Data analytics. In addition, with the development of the digital economy, Fintech is present as an innovation. But in its development, there are still positive and negative issues from the application of Fintech that provide many new perspectives that lead to moral and ethical issues. By adopting the Kitchenham Systematic Literature Review (SLR) approach, this study identifies what problems occur in the development of Fintech. Using three databases, including SCOPUS, ScienceDirect, and IEEE Xplore and Mendeley devices for journal database management, this study attempts to formulate an understanding of Fintech, Fintech variety, trends and Fintech innovations, what problems arise from Fintech innovation and how solutions are implemented Fintech. Abstrak Sebuah teknologi dihasilkan dari perkembangan Ilmu pengetahuan yang kemudian diimpelentasikan pada masyarakat. Perubahan ilmu pengetahuan menjadi teknologi tidak terlepas dari ilmuwannya. Seorang ilmuwan akan dihadapkan dengan kepentingan pribadi atau kepentingan khalayak ramai yang membawa pada persoalan etika keilmuan serta masalah bebas nilai. Demikian halnya dengan kemajuan e-finance dan teknologi mobile untuk perusahaan keuangan. Hal ini mendorong inovasi Fintech muncul setelah krisis keuangan global di tahun 2008 dengan menggabungkan e-finance, teknologi internet, layanan jejaring sosial, media sosial, kecerdasan buatan, dan analitik Big Data. Selain itu, dengan perkembangan ekonomi digital, Fintech hadir sebagai suatu inovasi. Namun dalam perkembangannya, masih terdapat isu positif dan negatif dari penerapan Fintech yang memberikan banyak perspektif baru yang membawa pada persoalan moral dan etika. Dengan melakukan pendekatan Systematic Literature Review (SLR) Kitchenham, penelitian ini mengidentifikasi problem apa saja yang terjadi pada perkembangan Fintech. Menggunakan tiga basis data antara lain SCOPUS, ScienceDirect, dan IEEE Xplore dan perangkat Mendeley untuk manajemen basis data jurnal, penelitian ini mencoba merumuskan pengertian tentang Fintech, ragam Fintech, tren dan inovasi Fintech, masalah apa yang muncul akibat inovasi Fintech serta bagaimana solusi dalam penerapan Fintech. Kata Kunci : Fintech, Systematic Literature Review (SLR)

The main aim of the given research is to develop an appropriate approach for creation
of information FinTech platform with the EU standards compliance mainly for
SMEs in order to support innovativeness of SMEs, improve their access to finance
and simplify different financial processes. The authors defined the main features of
FinTech platforms underlining types of FinTech, its participants and the most influential
factors. The main trends of FinTech platforms development in the EU countries,
such as the level of investment, impact of EU FinTech platforms on the global scale,
features of investments into B2B FinTech, were determined. It was considered that in
Ukraine, some positive changes in legislation were adopted, but the challenges like
lack of finance, slow adoption of innovations in the financial market, not sufficient
clarity of legislation remain among the main constraints for further development of
FinTech platforms in Ukraine. The conducted analysis on the level of FinTech types
performance by Ukrainian platforms showed only the great share of digital payments
and money transfers, while other modern innovative FinTech instruments should not
be underestimated for proper FinTech application in Ukraine. For this purpose, the
authors have developed the Information Platform on Support for SMEs’ Innovations
that consolidates interests of both SMEs and scientists. To determine both the SMEs’
opinion about the necessity of a particular Internet platform for them and the types of
services that could be provided by the sme-sci.com platform, the authors conducted
a survey in which 374 medium-sized and 380 small businesses took part. The results
of the survey that are presented in the article confirm the necessity of the Information
Platform on Support for SMEs’ Innovations and demand for it from the SMEs. Finally,
the result of the research proves that such a unique informational platform as sme-sci.
com that will serve as an interactive field for exchanging ideas and information of both
representatives of scientific and business world is of great importance.

FINTECH: Digitalizzazione dei processi d’intermediazione finanziaria

Progetto di ricerca congiunto tra la Commissione Nazionale per la Società e per la Borsa e numerose università italiane, mirato a indagare l'ampiezza e la profondità dei cambiamenti che la rivoluzione digitale in atto e l'applicazione di tecnologia intelligente potranno apportare al sistema finanziario nel suo complesso.

http://www.consob.it/web/area-pubblica/fintech
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FINTECH: Digitalization of Financial Intermediation Processes

Joint research project between the public authority responsible for regulating the Italian financial markets (CONSOB) and a large number of Italian universities, aimed at investigating the breadth and depth of the changes that the digital revolution and the application of intelligent technology will bring to the financial system.

http://www.consob.it/web/area-pubblica/fintech
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FINTECH: Digitalização de Processos de Intermediação Financeira

Projeto de pesquisa conjunta entre a Autoridade pública responsável pela regulação dos mercados financeiros italianos (CONSOB) e um grande número de universidades italianas, com o objetivo de investigar a amplitude e profundidade das mudanças que a revolução digital e a aplicação da tecnologia inteligente trarão ao sistema financeiro.

http://www.consob.it/web/area-pubblica/fintech

(Working group Scuola Superiore Sant’Anna di Pisa: Erica Palmerini. Professoressa Associata di Diritto privato, Scuola Superiore Sant’Anna di Pisa; Giuseppe Aiello. Sostituto Procuratore presso la Procura della Repubblica di Trani; Viola Cappelli. Dottoranda di ricerca in Diritto privato, Scuola Superiore Sant’Anna di Pisa; Gaetana Morgante. Professoressa Associata di Diritto penale; Nicolò Amore. Dottorando di ricerca in Diritto penale dell’economia, Università degli Studi della Tuscia; Giuseppe di Vetta. Dottore di ricerca in Diritto penale, Scuola Superiore Sant’Anna di Pisa; Gaia Fiorinelli. Dottoranda di ricerca in Diritto penale, Scuola Superiore Sant’Anna di Pisa; Martina Galli. Dottoranda di ricerca in Diritto penale, Università degli Studi della Tuscia)

Internet (Web 2.0) ha permitido volver a formas ancestrales de intercambio a través de las plataformas digitales. Si éste tradicionalmente se ha basado en una relación vertical entre el suministrador del bien o servicio (generalmente una empresa) y un demandante (consumidor o empresario), la economía de la plataforma intermediaria genera en muchos casos un mercado horizontal, entre iguales (peers). Es su intermediación técnica y también material la que va a generar nuevas necesidades regulatorias o adaptación de las ya existentes.
El acervo comunitario en materia de protección de los consumidores está basado en un modelo de distribución en cadena: fabricante, mayorista, minorista y consumidor en una escala vertical. El desequilibrio entre las posiciones de las partes cuando el empresario es proveedor y el adquirente consumidor (B2C), sirvió de justificación para el diseño de un sistema contractual de protección del consumidor, propio de la contratación en masa. La economía de la plataforma deja obsoleto este esquema porque los bienes y servicios se intercambian entre pares y los particulares actúan como proveedores (prosumidores).
Lo decisivo no es tanto qué se contrata, sino cómo se contrata y por ello en la primera parte de este libro se trata la contratación a través de plataformas intermediarias en línea.
El sector de las finanzas no se ha mantenido ajeno a este fenómeno: sujetos que demandan financiación a una pluralidad de personas a través de plataformas digitales. La segunda parte de este libro se centra en la financiación en masa a través de préstamos o crowdlending, gracias a la tecnología, enmarcándose en el fenómeno FinTech.  La desconfianza en la banca tradicional y el factor tecnológico han favorecido un crecimiento espectacular de este modelo de financiación.
Procede comprobar si estos mediadores financieros cuentan con las garantías suficientes o, simplemente, se pretende generar un mercado de crédito paralelo que permita esquivar los requerimientos regulatorios diseñados para la banca tradicional.
La desprotección del inversor es importante en el marco legal español, e incluso, cabe plantear un eventual riesgo sistémico para el sistema financiero general.
La evaluación del riesgo de crédito en la financiación colectiva a través del procesamiento masivo de datos procedentes, en muchos casos, de redes sociales con técnicas de inteligencia artificial, plantea importantes problemas jurídicos. A ello hay que unir toda la problemática contractual que suscita esta modalidad de financiación, derivada de la estructura triangular que presenta y de los indudables solapamientos normativos que se producen con la normativa de protección de consumidores. A estos complejos problemas trata de dar respuesta la presente monografía.
The Internet (Web 2.0) has made it possible to return to ancestral forms of exchange through digital platforms. If this has traditionally been based on a vertical relationship between the supplier of the good or service (generally a company) and a demander (consumer or entrepreneur), the economy of the intermediary platform in many cases generates a horizontal market, between equals (peers). It is their technical and also material intermediation that will generate new regulatory needs or adaptation of existing ones.
The Community acquis in the field of consumer protection is based on a chain distribution model: manufacturer, wholesaler, retailer and consumer on a vertical scale. The imbalance between the positions of the parties when the entrepreneur is a supplier and the acquirer is a consumer (B2C), served as a justification for the design of a contractual system of consumer protection, typical of mass contracting. The economics of the platform render this scheme obsolete because goods and services are exchanged between peers and individuals act as suppliers (prosumers).
What is decisive is not so much what is contracted, but how it is contracted, and therefore the first part of this book deals with contracting through online intermediary platforms.
The finance sector has not remained oblivious to this phenomenon: subjects who demand financing from a plurality of people through digital platforms. The second part of this book focuses on mass financing through loans or crowdlending, thanks to technology, within the framework of the FinTech phenomenon.  Mistrust of traditional banking and the technology factor have favoured a spectacular growth of this financing model.
It is necessary to check whether these financial intermediaries have sufficient guarantees or, simply, to generate a parallel credit market that allows avoiding the regulatory requirements designed for traditional banking.
The lack of investor protection is important in the Spanish legal framework, and there is even a possible systemic risk for the general financial system.
The assessment of credit risk in collective financing through the massive processing of data coming, in many cases, from social networks with artificial intelligence techniques, raises important legal problems. To this must be added all the contractual problems raised by this form of financing, arising from its triangular structure and the undoubted regulatory overlaps with consumer protection regulations. This book attempts to respond to these complex problems.

Publicación: Anuario de Derecho Concursal num.47/2019 parte Estudios Editorial Civitas, SA, Pamplona. 2019. Resumen «Se analiza en el presente trabajo el fenómeno de la financiación en masa o crowdfunding, prestando especial atención a su instrumentación a través del contrato de préstamo. En particular, se estudia el problema de la evaluación de la solvencia de los promotores de financiación, las dificultades de acceso a datos de solvencia fiables. Los fallos de regulación provocan una importante desprotección del inversor en este tipo de plataformas. La falta de transparencia en el proceso de evaluación del riesgo de crédito del promotor de la financiación, la falta de publicidad de datos de morosidad son factores que evidencian la frágil posición del inversor y una opacidad de datos de solvencia que puede afectar negativamente al funcionamiento del sistema financiero tradicional. Las dificultades de acceso por parte de las plataformas de financiación participativa a datos de solvencia fiables han provocado, entre otros factores, que se recurra a datos obtenidos de redes sociales para evaluar el riesgo de crédito utilizando técnicas de inteligencia artificial, procedimientos que plantean retos normativos desde el punto de vista de la regulación de protección de datos personales. » Abstract: «Crowdfunding platforms are analyzed in this paper, paying special attention to its instrumentation through the loan contract (crowdlending). In particular, it studies the problem creditworthiness assessment of financing promoters and the difficulties of access by platforms to reliable solvency data. Regulatory failures lead to a significant lack of investor protection in this type of platforms because of the lack of transparency in the credit risk assessment process of the promoter of the financing, the lack of publicity of delinquency data. The opacity of solvency data generated by these platforms could negatively affect the functioning of the traditional financial system. The difficulties in access by financing platforms to reliable solvency data have led, among other factors, to the use of data obtained from social networks to assess credit risk, using artificial intelligence techniques, procedures that pose regulatory challenges from the point of view of personal data protection regulation.» Palabras clave Crowdfunding, Crowdlending, FinTech, Big data, Evaluación de la solvencia, Préstamo en masa, Plataformas de financiación participativa, Prima de riesgo social, Ficheros de solvencia patrimonial. Crowdfunding, Crowdlending, Financial platforms, Big data, Creditworthiness assessment, Lending, Positive credit information sharing, Social credit risk. I. El «crowdlending» o financiación colectiva a través de préstamos Los avances tecnológicos, unidos a determinadas circunstancias derivadas de la crisis financiera que vio la luz en 2008, han provocado que emerja un nuevo modelo de mercado que está teniendo un crecimiento progresivo y constante, englobado en la denominada economía colaborativa (sharing economy) o también llamada economía bajo demanda o consumo colaborativo. Se trata de un conjunto heterogéneo y rápidamente cambiante de modos de producción y consumo por el que los agentes comparten, de forma innovadora, activos, bienes o servicios infrautilizados, a cambio o no de un valor monetario, valiéndose para ello de plataformas sociales digitales y, en particular, de Crowdlending o préstamo en masa y evaluación de la solvencia del promotor de la financiación. 28 de marzo de 2019 © Thomson Reuters 1

El surgimiento de las plataformas financieras tecnológicas abre nuevas
oportunidades para la creación y desarrollo de productos y servicios financieros que permiten abrir el panorama de opciones para los usuarios, para quienes significa un mayor aprovechamiento de los recursos para favorecer a sus finanzas personales.
Se puede resaltar las ventajas que las tecnologías financieras ofrecen frente al sistema financiero tradicional, desde menores costos hasta una mayor facilidad para el acceso a la información, haciéndolas una herramienta útil en la toma de decisiones financieras.
Con la consolidación internacional de las llamadas Fintech, el acceso a los servicios financieros promete ofrecer servicios más eficientes y menor costo que la banca tradicional, en el caso de México, al ser de los primeros países en contar con un marco regulatorio en este sector, tiene amplias oportunidades de ser líder en el sector financiero digital.

Financial technology (fintech) is a growing industry in Indonesia, supported by advances in the technological infrastructure. At the end of 2019, the Financial Services Authority (OJK), the financial authority in Indonesia, recorded 164 registered and licensed fintech (P2P lending) companies. However, since early 2018, the Investment Alert Task Force (SWI) and the Ministry of Communication and Information Technology have blocked 1,350 illegal fintech platforms. Illegal fintech lending practices have mechanisms beyond the responsibility and authority of the OJK, including the risk of collection and distribution of personal data. The essence of this study is to discuss the landscape of fintech P2P lending in Indonesia from Indonesian Online News data, explore cases of fintech p2p lending in Indonesia, and understand the rules and policies. Qualitative research with a case study approach and Focus Group Discussion techniques were used to obtain data from 4 stakeholders in the Fintech P2P Lending Industry in Indonesia. VOS Viewer software is used to build keywords from Indonesian Online News collections, NVIVO 12 qualitative software is used to assist data analysis. The research found the keyword clusters most frequently discussed in the Indonesian Online News collection and five case themes such as public awareness about P2P lending (user understanding), data leakage, and restriction of data access, including personal data protection, personal data fraud, illegal fintech lending, and Product marketing ethics.

This paper aims to interrogate existing FinTech regulations in Nigeria, extract the challenges of the budding industry and illuminate on prospects with the underlying aim of proffering sublime, practical recommendations towards the optimal harnessing of immense potentials inherent in the industry, currently left untapped as a result of sparse and disharmonized regulations.

This book presents a comprehensive overview of transactional forms of the digital across Asia by studying the platforms and infrastructures that shape the digital experience. It provides a definitive account of the core features of the ways the digital economy in Asia is transforming everyday lives. Transactional relations between digital media platforms and new forms of sociability are remediating social relationships for the digital age. In capturing the digital revolution through case studies from across the larger Asian region, the book offers a richly contextualised and comparative account that firmly situates the frontiers of the digital within the Asian experience.

A model that uses a blockchain-based decentralized ledger system that combines sharing financial security data feeds sourced from a data feed provider and to compute the Net Asset Value (NAV) of a mutual fund scheme by an Asset management company. Blockchain emerged as a disruptive technology for various fintech areas. Traditional financial services such as the Asset Management industry can use this blockchain-based architecture for mutual fund management taking advantage of features like distributed ledger, immutability, smart contracts, amongst others. The paper discusses the architecture of a mutual fund system to share the Net Asset Values of mutual funds and the last traded prices of securities. The Linux Foundation manages Hyperledger Fabric. The Hyperledger project is an open-source model that can be cost-effective for the stakeholders. The proposed model involves stakeholders such as the data feed provider, regulator, registrar, and transfer agents (RTA/registrar), and the asset management company.

La Ley para Regular las Instituciones de Tecnología Financiera mejor conocida como Ley Fintech, nace de la necesidad de regular las actividades que el sistema financiero internacional ha logrado desarrollar, basados en un principio de innovación, de formación de nuevos mecanismos de gestión de riesgos y de participación en el mercado. Esta Ley forma parte de un compendio de regulaciones primarias y secundarias que buscan prevenir hechos ilícitos y tener un marco de referencia que incremente no solo la participación formal de las personas, sino que aumente la inclusión financiera y el desarrollo del sistema financiero. La Ley Fintech pone a México dentro del contexto global de las finanzas.

India’s FinTech ecosystem is considered to be at an early stage of development compared to the US and UK ecosystems which have long enjoyed a concentration of startups, funding flow, and proactive FinTech policies. However, over the last few years, India’s FinTech ecosystem has been thriving. As per the India FinTech Report 2019,

Finance and technology are inching closer to convergence by the day; while older investors may be reluctant to have robots doing their investing for them, many millennials are jumping unto the new asset management bandwagon. Thus, allowing algorithms to predict and recommend investment plans and automatically balance portfolios for them based on information such as age, risk tolerance level, investment goals, etc. Robo-advisory software programs periodically buy and sell securities to keep the mix matched to investors' risk tolerance. This study shows that the emerging issues around fintech only serve to signal that the asset management industry is set for a massive overhaul as more investors seek to substitute the human asset manager for robots and algorithms. Personal finance management especially for low net worth individuals is in a nascent stage of undergoing a complete revolution as these technologies continue to develop. Adventurous investors are encouraged to try robo-ad...

P2P lending is a part of fintech where the public can request small loans without the common procedures of a conventional bank. There are many issues that arise from the lack of regulations and information on P2P lending which are mostly negative. In this paper, we analyze the public perspective of P2P lending regarding their opinion. We use text classification using Naïve bayes and random forest tree to classify their opinion. The data are collected from Google Playstore application review which are manually labeled as positive or negative. This paper also analyzes the reasoning behind such sentiments and the aspects most important to Indonesian users in P2P lending services. The experiment shows no significant difference in the accuracy using both classifiers. We found keywords that affect the sentiment using InfoGainAttribute in Weka. Based on manual review, the users mainly focus on the speed of loans going through, the ease of use of the application as well as convenience in reviewing the platform.

ABSTRAK
Tulisan ini bertujuan untuk mengetahui bagaimana inovasi teknologi finansial atau Fintech. Crowdfunding menurut C. Steven Bardford adalah penggunaan Internet untuk mengumpulkan uang melalui kontribusi kecil dari sejumlah besar investor dan dapat menyebabkan revolusi dalam bisnis kecil pembiayaan. C. Steven Bradford (2012) mengkategorikan beberapa model crowdfunding berdasarkan hasil yang diterima penyandang dana ataskontribusinya. Crowdfunding terbagi menjadi tiga jenis yaitu  Donation Based (Model Donasi), Reward Based (Model Penghargaan), Debt Based (Model Pinjaman), Model Pra-Pembelian, Equity Based (Model Ekuitas). Crowdfunding sangat dipilih sekarang karena saat ini berkembang sangat baik dan penerapannya pada bidang musik di Indonesia diyakini sebagai inovasi yang inovatif
Secara umum, di era digital sekarang platform crowdfunding dapat memberikan peluang yang lebih baik untuk menarik investor yang ingin membantu bisnisnya berkembang.

The World Bank acknowledges financial inclusion is a productive tool to reduce poverty in developing countries. Financial Inclusion is a new emerging paradigm of economic development and it plays a major role in elimination of poverty from the country. It is a driving force for a nation; it provides financial services to enormous people and it reduces the gap between rich and poor. India is with a population of 1.35 billion people, 29 states, 7 Union territories. Providing financial services to enormous population at economical and reasonable prices has been a global issue always. Proper financial access will improve the financial standard and living standard of the people. This chapter discusses the pros and cons of digital finance, digital finance inclusion, digital FinTech services and why it requires for better financial inclusion. Keywords: Financial Inclusion, Digital Finance, FinTech services.

Mass media, especially television can play a pivotal role in transferring the values and enterperenial attitudes to the society through production of documentaries, reports, biographies and a positive image of entrepreneurship. Payesh TV program is of the few entrepreneurship-oriented programs in Iran that has attracted a lot of attention and is one of the most popular programs in this domain. This qualitative study carried out to analyze the representation of the factors affecting the entrepreneurship development from the viewpoint of the entrepreneurs invited to the Payesh program using content analysis method. To this end, 21 episodes of Payesh program were selected purposefully according to the theoretical saturation of data and the interviews with entrepreneurs were analyzed. The results showed that this program has been able favorably to represent the positive experiences of entrepreneurs, especially the role of personal and personality factors in the formation of entrepreneurship elements. In this program, the news and information, educational, identity-making and critical functions of television are more pronounced than other functions, i.e., entertainment. However, another study is required to evaluate the effect of this program on the mind and behavior.