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Author: Oscar Cortez Publisher: Nova Science Publishers ISBN: 9781634845519 Category : Financial services industry Languages : en Pages : 0
Book Description
The consumer financial services market has seen the increasing use and proliferation of mobile technology to access financial services and manage personal finances. The Consumer Financial Protection Bureau's Office of Financial Empowerment issued a Request for Information (RFI) to find out more about mobile financial services and how low-income and economically vulnerable consumers are using them. This book provides a description of mobile financial services, a discussion of the opportunities and risks, and key takeaways from the comments. Furthermore, this book considers the ability of mobile financial services to increase financial inclusion among the underserved by providing them access to the banking system, retaining them in safe and sustainable account relationships, and fostering financial empowerment to improve financial stability and fulfill financial goals.
Author: Oscar Cortez Publisher: Nova Science Publishers ISBN: 9781634845519 Category : Financial services industry Languages : en Pages : 0
Book Description
The consumer financial services market has seen the increasing use and proliferation of mobile technology to access financial services and manage personal finances. The Consumer Financial Protection Bureau's Office of Financial Empowerment issued a Request for Information (RFI) to find out more about mobile financial services and how low-income and economically vulnerable consumers are using them. This book provides a description of mobile financial services, a discussion of the opportunities and risks, and key takeaways from the comments. Furthermore, this book considers the ability of mobile financial services to increase financial inclusion among the underserved by providing them access to the banking system, retaining them in safe and sustainable account relationships, and fostering financial empowerment to improve financial stability and fulfill financial goals.
Author: Ms.Ratna Sahay Publisher: International Monetary Fund ISBN: 1513512242 Category : Business & Economics Languages : en Pages : 83
Book Description
Technology is changing the landscape of the financial sector, increasing access to financial services in profound ways. These changes have been in motion for several years, affecting nearly all countries in the world. During the COVID-19 pandemic, technology has created new opportunities for digital financial services to accelerate and enhance financial inclusion, amid social distancing and containment measures. At the same time, the risks emerging prior to COVID-19, as digital financial services developed, are becoming even more relevant.
Author: Carol Realini Publisher: FriesenPress ISBN: 146026553X Category : Business & Economics Languages : en Pages : 149
Book Description
As incredible as it may seem in this hyper-connected, technologically advanced era, half the planet’s population exist as “Financial nomads”—those who nourish and shelter themselves without using traditional banking services. While the wealthy live at the top of a metaphorical pyramid, taking financial security and banking services for granted, there are billions of people who struggle at the pyramid’s base in an exhausting state of financial exclusion and insecurity. Times are changing rapidly, but despite global uncertainty, technology has the capacity to reach and equip people in all walks of life. Advances in communications have reconfigured the ease with which we interact with our money—and these advances can provide innovative financial services to the unbanked and underserved around the world. Financial inclusion for all is indeed within our reach, and with this conviction, authors Karl Mehta and Carol Realini propose a vision for a better world and a blueprint to get there. www.carolrealini.com
Author: International Monetary Fund Publisher: International Monetary Fund ISBN: 1498321860 Category : Business & Economics Languages : en Pages : 73
Book Description
The paper finds that while there are important regional and national differences, countries are broadly embracing the opportunities of fintech to boost economic growth and inclusion, while balancing risks to stability and integrity.
Author: Dominika Maison Publisher: Springer ISBN: 3030105709 Category : Business & Economics Languages : en Pages : 236
Book Description
This book stresses the psychological perspective in explaining financial behavior. Traditionally, financial behaviors such as saving, spending, and investing have been explained using demographic and economic factors such as income and product pricing. The consequence of this way of thinking is that financial institutions view their clients mostly from the perspective of their income. By taking a psychological approach, this book stresses the perspective of consumers confronted with a quickly changing financial world: the changing of financial offers and products (savings, investments, loans), the changing of payment methods (from cash to cheques, cards and mobile payments), the accessibility and temptation of goods, and the changing of insurance and pension systems. The Psychology of Financial Consumer Behavior provides insight into the thought processes of consumers in a variety of financial topics. Coverage includes perceptions of wealth, the pleasure or pain of spending, cashless transactions, saving and investing, loans, planning for the future, taxes, and financial education. The book holds appeal for researchers, professionals, and students in economics, psychology, economic psychology, marketing and consumer science, or anyone interested in financial behaviors.
Author: El Bachir Boukherouaa Publisher: International Monetary Fund ISBN: 1589063953 Category : Business & Economics Languages : en Pages : 35
Book Description
This paper discusses the impact of the rapid adoption of artificial intelligence (AI) and machine learning (ML) in the financial sector. It highlights the benefits these technologies bring in terms of financial deepening and efficiency, while raising concerns about its potential in widening the digital divide between advanced and developing economies. The paper advances the discussion on the impact of this technology by distilling and categorizing the unique risks that it could pose to the integrity and stability of the financial system, policy challenges, and potential regulatory approaches. The evolving nature of this technology and its application in finance means that the full extent of its strengths and weaknesses is yet to be fully understood. Given the risk of unexpected pitfalls, countries will need to strengthen prudential oversight.
Author: United States. Congress. House. Committee on Energy and Commerce. Subcommittee on Communications and Technology Publisher: ISBN: Category : Consumer protection Languages : en Pages : 140
Author: Martina Metzger Publisher: ISBN: Category : Languages : en Pages : 0
Book Description
This paper discusses first the role of mobile money accounts to enhance financial inclusion towards vulnerable groups in developing countries in the light of recent empirical evidence. Second, we explore the role of regulation to address risks to consumers and the financial system arising from the use of mobile money accounts, a question which has not been thoroughly addressed in the literature. Although financial inclusion via mobile money accounts is increasing, the outreach to particular disadvantaged and poor groups is still limited. However, remittances and G2P payments might develop into game changers for financial inclusion of poor and vulnerable households. Many countries from Sub-Saharan Africa are outperformers in terms of use of mobile money accounts in comparison to developing countries in other regions. Strikingly, the empirical evidence suggests that the regulatory landscape was of strategic importance to unleash the developmental potential of mobile money networks and the crowding-in of formerly unbanked households. Regulation on consumer protection particularly is of strategic relevance for the lasting acceptance and smooth operation of mobile money services and sharing the benefits with disadvantaged and poor households. A lack of effective and convincing consumer safeguards in place could diminish the trust in mobile money services and subsequently their acceptance and use. As mobile money services involve similar risks as traditional banking services, similar rules should apply. In addition, there are risks arising from the particular technology for mobile money account holders and institutions of the financial sector, including DFS providers. To these risks belong hysteresis effects to the disadvantage of poor households due to the use of alternative data and biased algorithms as well as displacement effects in local traditional and digital financial services due to BigTech.
Author: Cătălin-Gabriel Stănescu Publisher: Routledge ISBN: 1000295192 Category : Business & Economics Languages : en Pages : 291
Book Description
This book addresses the questions of discrimination, vulnerable consumers, and financial inclusion in the light of the emerging legal, socioeconomic, and technological challenges. New technologies – such as artificial intelligence-driven consumer credit risk assessment and Fintech platforms, the changing nature of vulnerability due to the ongoing COVID-19 pandemic, as well as the sophistication of digital technologies, which help circumvent legal barriers and protections – necessitate the continuous study of the existing legal frameworks and measures that are capable of tackling these challenges. Organized in two major parts, the first addresses, from multiple national angles, the idea of a human rights approach to consumer law, in order to replace the mantra of economic efficiency that characterizes financial services with those of human dignity and freedom from discrimination and from debt-induced servitude. The second tackles the challenges posed by increased usage of technology in connection with financial services, which tends to solve, but also creates, additional issues for consumers in general, and for vulnerable groups in particular.
Author: Malloy Publisher: Wolters Kluwer ISBN: 154380845X Category : Labor laws and legislation Languages : en Pages : 4424
Book Description
Employment Law Update, 2019 Edition analyzes recent developments in case law of interest to employment law practitioners representing plaintiffs, defendants, and labor unions and comprehensively covers recent developments in the rapidly changing employment and labor law field. Comprised of ten chapters - each written by an expert in employment law - this updated edition provides timely, incisive analysis of critical issues. Employment Law Update, 2019 Edition provides, where appropriate, checklists, forms, and guidance on strategic considerations for litigation and other forms of dispute resolution. Some of the new material discussed in this 2019 Edition includes: How the U.S. Department of Labor enforces federal whistleblower statutes Recent case law circumscribing arbitration, which can, potentially, deprive non-union workers of fundamental statutory and constitutional rights Recent German embrace of minimum wage law Efforts by legislatures, administrative agencies, courts, and public interest groups to transform the "soft law" of the U.N. Guiding Principles on Business and Human Rights into "hard law" binding multinational corporations Special problems relating to aviation personnel who blow the whistle Protection for disabled veterans under the ADA and the USERRA Evolving framework for enforcing the rights of the LGBT population Transnational labor law applicable to expatriates Application of multinational firms' codes of conduct across national borders Application of differing systems of employee rights and obligations to floating employees Previous Edition: Employment Law Update, 2018 Edition ISBN 9781454898931
Author: Oscar Cortez
Author: Oscar Cortez
Author: Ms.Ratna Sahay
Author: Carol Realini
Author: International Monetary Fund
Author: Dominika Maison
Author: El Bachir Boukherouaa
Author: United States. Congress. House. Committee on Energy and Commerce. Subcommittee on Communications and Technology
Author: Martina Metzger
Author: Cătălin-Gabriel Stănescu
Author: Malloy