Journal of FinTech and Artificial Intelligence

Review of the Fintech categories and the most famous Fintech start-ups

2021-07-20T00:17:01-05:00

Financial technology and innovation is a hot topic all over the world. There are many types of fintech start-ups companies such as lending companies, cryptocurrency, payments, personal finance management. In this article we review some of academic studies and then categorize famous Iranian fintech companies.

Identifying and ranking the factors affecting the establishment of mobile payment systems (A case study of Iran)

2021-07-20T00:17:02-05:00

The purpose of this study was to identify and rank the factors affecting the establishment of the mobile payment systems. The present study was based on implementation of the mix in the qualitative part of the foundation data and the method of data collection in the field approach. Qualitative community of experts working in a mobile telecommunication company in the city of Tehran, which 19 people were selected as a sample by snowball method to the extent of theoretical saturation. In a small part of the middle and upper level administrative staff of the mobile telecommunication company, which according to the method of exploratory factor analysis, sampling was sufficient for this method, and finally 145 samples were selected by randomly available methods. In the qualitative part of the present study, in order to determine the validity of the measurement tool from the expert judgment approach on face and content validity and construct validity by exploratory and confirmatory factor analysis and reliability by two methods of agreement coefficient and Cronbach's alpha were calculated and confirmed. According to the results, the establishment of the mobile payment systems has 5 dimensions and 31 items. According to the research findings, five factors with a service load of service agents with 6 items 0.84, software agents with 14 items 0.80, security agents with 6 items 0.67, hardware agents with 3 items 0.59 and agents access with 4 items with a factor load of 0.58 was identified and ranked.

Tokenization and its application in different countries

2021-07-20T00:17:06-05:00

Our life is affected by technology deeply, each upgrade in technology can affect our expectations and behaviors. They cause massive differences between decades, which makes them the most momentous and vital objects in the future of almost everything. In recent years, one of the most game changer is the combination of smart contracts, artificial intelligence, the internet of things, and blockchain. They unlock enormous possibilities in data processing and scoring, project management, estimation methods, and more importantly to investment management. There always have been some big bangs that make a new megatrend in our lives, and now, a new trend in our financial lives is developing by tokenization, and all of those new methods can make tokenization more accessible. as Castillo Ionov said: "tokenization involves taking an asset and, using blockchain technology, issuing tokens representative of that asset, facilitating its negotiation, the enjoyment of the rights of that asset and its governance". tokenization help different kinds of investment to be more liquid, fast, transparent, immutable, efficient and cheaper. It also has its challenges such as technology risk, Cybersecurity, specialists, and at the top, regulatory principles. But there's a variety of approaches to face tokenization. Different countries take advantage of it in their way. Some of them use it to boost their economic efficiency by designing a suitable regulatory framework. Some use it to better observe markets by more strict rules.

In this article, we discuss tokenization, its process, benefits and challenges, and case studies around the world compared with Iran to see the difference in usage and regulatory framework

The Sandbox Approach

2021-07-20T00:17:07-05:00

Since banking system supports and develops Fintech companies and start-ups around the world, the Fintech industry grows so fast. It is clear that, regulatory sandboxes had positive effects on venture investment, and risk factors in Fintech industry. A FinTech sandbox is an environment that testers and innovators can apply it to check the production environment on a real-time basis. It helps to simulate responses from all the systems and processes. In addition, an application program interface (API) sandbox and Fintech sandbox have a similar meaning. Sandbox enables banks and FinTech companies to experiment with innovative financial products or services. Moreover, it provides a suitable space and duration for checking products and services. Also, the presence of suitable safeguards helps in containing the results of failure. In summary, the sandbox prepares for the pilot testing of newly developed technologies. FinTech companies have encouraged many banks to open their doors to move toward financial technology instead of traditional banking. The simplification of complex banking processes, and improving user experience lead to encourage investors to support Fintech start-ups. However, this ecosystem needs regulatory solutions to overcome new barriers. Since there are 3 separate sections in this field in Iran, we can find a comprehensive policy and features for Sandbox ecosystem in Iran. However, Iran started it recently, and it will be improved in the future. This study aims to find an appropriate the Sandbox approach for Iran based on local ecosystem. To analyze it, we selected some countries (5 countries) which have initially adopted regulatory sandboxes.