Fintech and Cryptocurrency

FINTECH AND CRYPTOCURRENCY

DIVE INTO THE WORLD OF FINTECH AND CRYPTOCURRENCY THROUGH THE ENGAGING PERSPECTIVES OF THIS DIVERSE GROUP OF AUTHORS AND UNCOVER THE INTRICATE CONNECTIONS BETWEEN TECHNOLOGY, FINANCE, AND CRYPTOCURRENCY THAT MAKE THIS A MUST-HAVE FOR ANYONE INTRIGUED BY THE FUTURE OF DIGITAL SOCIETY.Digital currencies, decentralization of money, and the growth of new technologies like blockchain, the Internet of Things, and machine learning have produced new opportunities and difficulties for banking and finance, as well as users of these services in electronic commerce. New banking and finance technologies may improve operational efficiency, risk management, compliance, and client pleasure, but they can decrease barriers and introduce new concerns, such as cybersecurity risk. Cryptocurrencies with smart contracts for payments and trading, as well as AI systems with adaptive algorithms that allow picture and speech recognition, expert judgement, group categorization, and forecasting in a variety of fields, are instances of increased automation. Simultaneously, the potentials pose risks and raise regulatory concerns. The rise of blockchain technology and its widespread use have had a significant impact on the operation and management of digital systems. At the same time, researchers and practitioners have paid close attention to digital finance. Blockchain’s first applications were limited to the production of digital currency, but it has now been expanded to include financial and commercial applications. Innovative digital finance has had a huge impact on business and society since it has been extensively adopted by businesses and consumers. As a result, the goal of this edited book is to expand and deepen our knowledge of the business possibilities of novel blockchain and digital financial applications. MOHD NAVED, PHD, is an associate professor with a career spanning over a decade in the fields of business analytics, data science, and artificial intelligence. He has over 80 publications in reputed scholarly journals and books, and his research focuses on the applications of these disciplines in various industries. V. AJANTHA DEVI, PHD, is a distinguished researcher and holds the position of Research Head at AP3 Solutions, located in Chennai, Tamil Nadu, India. She earned her Ph.D. from the University of Madras in 2015, marking the inception of her impressive academic journey. She has over 45 papers published in prestigious international journals and conference proceedings, and she has authored, co-authored and edited numerous books. She holds five Australian patents and one Indian patent, and she has won numerous awards. ADITYA KUMAR GUPTA, PHD, is an associate professor at Amity University, Noida, India, with over 20 years of experience in both academia and industry. He is the editor of the Amity Case Research Journal, and he has been a reviewer for many scientific journals. Preface xvii

1 EVOLUTION OF FINTECH IN FINANCIAL ERA 1

Tanya Kumar and Satveer Kaur

1.1 Introduction 1

1.2 Review of Literature 2

1.3 Objectives and Research Methodology 4

1.4 Working of FinTech 4

1.5 Tools and Techniques used in FinTech 5

1.6 Future Framework of FinTech 7

1.7 Evolution of FinTech in Financial World 7

1.8 Discussion and Conclusion 9

2 DIGITAL TRANSFORMATION OF FINANCIAL SERVICES IN THE ERA OF FINTECH 13

Ayesha Siddiqui, Arti Yadav and Najib H.S. Farhan

2.1 Introduction 13

2.2 Review of Literature 16

2.3 Digital Transformation: A Conceptual Overview 20

2.4 FinTech Ecosystem 21

2.5 Role of Fintech and Digital Transformation with Respect to Financial Services 24

2.6 Conclusion 27

3 RESHAPING BANKING WITH DIGITAL TECHNOLOGIES 35

Ankita Srivastava and Aishwarya Kumar

3.1 Banking and Artificial Intelligence (AI) 35

3.2 Fintech Evolution 38

3.3 AI Opportunities in Fintech 40

3.4 Reshaping the Banking 44

3.5 Insurance 52

3.6 Challenges Faced by Fintech in Banking 53

53 3.7 Conclusion 54

4 ADOPTION OF FINTECH: A PARADIGM SHIFT AMONG MILLENNIALS AS A NEXT NORMAL BEHAVIOUR 59

Pushpa A., Jaheer Mukthar K. P., Ramya U., Edwin Hernan Ramirez Asis and William Rene Dextre Martinez

4.1 Introduction 60

4.2 Statement of the Problem and Research Questions 75

4.3 Research Questions and Objectives 76

4.4 Conceptual Framework and Proposed Model 77

4.5 Conclusion 83

5 A COMPREHENSIVE STUDY OF CRYPTOCURRENCIES AS A FINANCIAL ASSET: MAJOR TOPICS AND MARKET TRENDS 91

Gioia Arnone and Ajantha Devi Vairamani

5.1 Introduction 91

5.2 Literature Review 92

5.3 Methodology 95

5.4 Findings 96

5.5 Cryptocurrencies as a Major Financial Asset 97

5.6 What is the Value of Cryptocurrencies? Current Market Trends 98

5.7 Conclusion 100

6 CUSTOMERS' SATISFACTION AND CONTINUANCE INTENTION TO ADOPT FINTECH SERVICES: DEVELOPING COUNTRIES' PERSPECTIVE 105

Song Bee Lian and Liew Chee Yoong

6.1 Introduction 106

6.2 Understanding the Fintech Phenomenon in Developing Countries 108

6.3 Literature Review 109

6.4 Research Methodology 115

6.5 Results 120

6.7 Theoretical and Practical Implications 126

6.8 Conclusion 127

7 FINTECH APPS: AN INTEGRAL TOOL IN TITIVATING BANKING OPERATIONS 137

Arun Prakash A., Leelavathi R., Rupashree R. and V.G. Jisha

7.1 Introduction 138

7.2 Objectives 142

7.3 Statement of the Problem 143

7.4 Need for the Study 144

7.5 Review of Literature 144

7.6 Proposed Model 145

7.7 Lending APPS 145

7.8 Investment Apps 145

7.9 Payment Apps 147

7.10 Insurance Apps 148

7.11 Persuading Factors that Increase the Usage of Fin-Tech Apps 149

7.12 Methodology 150

7.13 Results and Discussions 151

7.14 Multiple Linear Regression 152

7.15 Structural Equation Modelling 154

7.16 Conclusion 155 References 155

8 ANALYTICAL STUDY OF FIN-TECH IN BANKING: A UTILITY MODEL 157

Neha Kamboj and Mamta Sharma

8.1 Introduction 158

8.2 Literature Analysis and Development of Hypothesis 160

8.3 Research Design 163

8.4 Empirical Results 165

8.5 Conclusion 169

9 IS DIGITAL CURRENCY A PAYMENT DISRUPTION MECHANISM? 173

Vanishree Mysore Ramkrishna and Vyshnavi Loganathan

9.1 Introduction 173

9.2 Review of Literature 175

9.3 Methodology and Sampling 177

9.4 Results and Discussion 179

9.5 Acceptance of CBDC 185

9.6 Conclusion 188

10 INVESTOR SENTIMENT DRIVING CRYPTO-TRADE IN INDIA 193

Sushant Waghmare and Dipesh Uike

10.1 Introduction 194

10.2 Review of Literature 195

10.3 Research Methodology 200

10.4 Data Analysis & Interpretation 201

10.5 Conclusions, Suggestions & Recommendations 214

11 APPLICATIONS OF DIGITAL TECHNOLOGIES AND ARTIFICIAL INTELLIGENCE IN CRYPTOCURRENCY - A MULTI-DIMENSIONAL PERSPECTIVE 221

W. Jaisingh, Preethi N. and R. K. Kavitha

11.1 Introduction 222

11.2 State-of-the-Art Review 223

11.3 Application Areas of Cryptocurrencies 224

11.4 Financial Transaction Using Blockchain Technology 229

11.5 An Analysis of Cryptocurrency Mining Using a Hybrid Approach 234

11.6 Forecasting Cryptocurrency Price Using Convolutional Neural Networks 237

11.7 Blockchain Technology and Cryptocurrencies for the Collaborative Economy 240

11.8 Conclusions 243

12 A STUDY ON THE INFLUENCE OF PERSONALITY ON SAVINGS AND INVESTMENT IN CRYPTOS 251

K. Manimekalai, T. Satheeshkumar and G. Manokaran

12.1 Introduction 252

12.2 Literature Review 253

12.3 Objectives of the Research 260

12.4 Methodolgy 260

12.5 Discussion 268

13 DEEP NEURAL NETWORK IN SECURITY: A NOVEL ROBUST CAPTCHA MODEL 277

Manasi Chhibber, Rashmi Gandhi, Aakanshi Gupta and Ashok Kumar Yadav

13.1 Introduction 277

13.2 Literature Review 279

13.3 Proposed Approach 283

13.3.1 Data Pre-Processing and Exploratory Analysis 283

13.4 Results and Discussions 289

13.5 Conclusion 300

14 CUSTOMER'S PERCEPTION OF VOICE BOT ASSISTANCE IN THE BANKING INDUSTRY IN MALAYSIA 303

Manimekalai Jambulingam, Indhumathi Sinnasamy and Magiswary Dorasamy

14.1 Introduction 303

14.2 Problem Statement 304

14.3 What is a Voice Bot? 305

14.4 Call to Action 315

14.5 Literature Review 316

14.6 Research Methodology 317

14.7 Descriptive Analysis 318

14.8 Discussion and Conclusion 321

15 APPLICATION OF TECHNOLOGY ACCEPTANCE MODEL (TAM) IN FINTECH MOBILE APPLICATIONS FOR BANKING 325

Tabitha Durai and F. Lallawmawmi

15.1 Introduction 326

15.2 Methods and Measures 334

15.3 Results 336

15.4 Discussion 344

15.5 Conclusion 346

16 UPSURGE OF ROBO ADVISORS: INTEGRATING CUSTOMER ACCEPTANCE 351

C. Nagadeepa, Reenu Mohan, Antonio Peregrino Huaman Osorio and Willian Josue Fernandez Celestino

16.1 Introduction 351

16.2 Chatbots 355

16.3 Robo-Advisor 356

16.4 Acceptance of Robo-Advisor 374

16.5 Conclusion 379

17 SUPER APPS: THE NATURAL PROGRESSION IN FIN-TECH 383

Kavitha D., Uma Maheswari B. and Sujatha R.

17.1 Introduction 383

17.2 Journey from an App to a Super App 385

17.3 Super App vs. A Vertically Integrated App 385

17.4 Architecture and Design of Super Apps 386

17.5 Business Models of Super Apps 390

17.6 The Super App Market Space and the Business Models 391

17.7 Factors Contributing to the Success of Super Apps 397

17.8 Super Apps in Fin-Tech and their Role in the Financial Services Segment 400

17.9 Role of Super Apps in Financial Inclusion 403

17.10 Benefits of Super Apps in the Financial Services Sector 405

17.11 Risks due to Super Apps in the Financial System 406

17.12 Regulatory Measures to Mitigate the Risks 408

17.13 The Future of Super Apps 408

17.14 Conclusion 410

References 411

Index 413