Analysis of the Impact of Internet Finance on Banking Industry Development
Wang Ping,
Zhang Wenjian,
Liu Jiao
Issue:
Volume 3, Issue 4, August 2017
Pages:
53-56
Received:
19 August 2017
Accepted:
31 August 2017
Published:
22 September 2017
Abstract: With the development of Internet information technology, such as mobile payment, cloud computing and large data, there is a new financial service model - Internet financial model. Analysis of the development of Internet finance found that through the replication of financial functions, and the traditional banking industry to form a competitive situation, and the bank resource allocation, payment and settlement and risk management business impact. In the future development, commercial banks must use the Internet technology platform to promote the transformation in the field of management. In the competition with their own advantages to form a "complementary" integration, in order to promote the improvement of financial services efficiency. In this process, the government actively develop the Internet financial regulatory laws and regulations, improve the lack of supervision of Internet finance.
Abstract: With the development of Internet information technology, such as mobile payment, cloud computing and large data, there is a new financial service model - Internet financial model. Analysis of the development of Internet finance found that through the replication of financial functions, and the traditional banking industry to form a competitive situ...
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Information and Communication Technology Infusion Model for Microfinance Bank in the Nigeria
Idowu Peter Adebayo,
Balogun Jeremiah Ademola,
Komolafe Olufemi
Issue:
Volume 3, Issue 4, August 2017
Pages:
57-57
Received:
29 June 2017
Accepted:
13 July 2017
Published:
1 November 2017
Abstract: This study was motivated by the need of the identification of the ICT devices used in the Nigerian microfinance sector and the formulation of infusion models for each identified ICT device. 126 Structured questionnaires were used to collect information regarding the use of the ICT devices used among respondents of nine (9) microfinance institutions selected from South-Western Nigeria. The different ICT devices identified consisted of smartphones, SMS, e-mails, computer hardware, telephone banking, magnetic ink character recognition (MICR) cheque, bank websites or mobile banking applications, teleconferencing, electronic point-of-sale (E-POS) services and financial ERP software applications. The results showed that majority of respondents who used ICT tools were customers who were traders with a majority age group of around 21-30 years. The results of the study also showed that all ICT tools were adopted in the same year (1999) by bank staffs. The results showed that although all the ICT devices identified were adopted in the same year, it was observed that about 65% of the respondents adopted smartphones and SMS while less than 16% of the respondents acquainted themselves with the other devices. Polynomial functions of degree, m were used to formulate the infusion model for each ICT devices identified based on the yearly cumulative distribution of the number of users. The infusion models formulated can be used to estimate the number of users of ICT devices for any given year from the year of adoption of the ICT device.
Abstract: This study was motivated by the need of the identification of the ICT devices used in the Nigerian microfinance sector and the formulation of infusion models for each identified ICT device. 126 Structured questionnaires were used to collect information regarding the use of the ICT devices used among respondents of nine (9) microfinance institutions...
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