Volume 25, Issue 3 (Autumn 2020)
JPBUD 2020, 25(3): 33-63 |
Back to browse issues page
Download citation:
BibTeX | RIS | EndNote | Medlars | ProCite | Reference Manager | RefWorks
Send citation to:
BibTeX | RIS | EndNote | Medlars | ProCite | Reference Manager | RefWorks
Send citation to:
Koshesh Kordsholi R, Gholami Jamkerani R, Maleki M H, Fallah Shams M. (2020). The Future Study of Financial Technology in Iran - Scenario Planning Approach. JPBUD. 25(3), 33-63. doi:10.52547/jpbud.25.3.33
URL: http://jpbud.ir/article-1-1932-en.html
URL: http://jpbud.ir/article-1-1932-en.html
Reza Koshesh Kordsholi1 
, Reza Gholami Jamkerani * 2, Mohammad Hassan Maleki3 , Mirfeyz Fallah Shams4
, Reza Gholami Jamkerani * 2, Mohammad Hassan Maleki3 , Mirfeyz Fallah Shams4
1- Ph.D. Student of Financial Engineering, Qom Branch, Islamic Azad University, Qom, Iran.
2- Assistant Professor Department of Accounting and Finance, Qom Branch, Islamic Azad University, Qom, Iran ,gholami@qom-iau.ac.ir
3- Associate Professor, Department of Industrial Management, Faculty of Management and Economics, University of Qom, Iran.
4- Associate Professor, Department of Financial Management, Tehran Central Branch, Islamic Azad University, Tehran, Iran.
2- Assistant Professor Department of Accounting and Finance, Qom Branch, Islamic Azad University, Qom, Iran ,
3- Associate Professor, Department of Industrial Management, Faculty of Management and Economics, University of Qom, Iran.
4- Associate Professor, Department of Financial Management, Tehran Central Branch, Islamic Azad University, Tehran, Iran.
Abstract: (6791 Views)
Financial technology is the design and delivery of financial products and services through technology, and it is of great importance for industries and business development. The aim of this study is to identify the future of financial technology in Iran through the lens of scenario planning. For data analysis, the Binominal test and EDAS were used. Initially, 15 key drivers were extracted from a systematic review of the literature and interviews with experts. The number of experts in this study was 30 people who answered the questionnaires and expressed their views on the importance of factors in terms of the Likert scale. At this stage, 5 factors were excluded due to the significance coefficient. After screening the unimportant key factors, the key factors were assessed by experts using EDAS, and two drivers of the integration of financial technology laws and standards, and the ease of international exchanges manifested as the top priorities for experts. Based on these two drivers, four scenarios for the future of financial technology in Iran can be identified: the paradise of financial technology, the world of persecution, the abandoned island, and the hell of financial technology. Obviously, the
financial technology paradise is the most desirable scenario, and the financial technology hell describes the worst.
financial technology paradise is the most desirable scenario, and the financial technology hell describes the worst.
Keywords: Future Study, Scenario, Plausible Scenarios, Financial Services Industry, Financial Technology.
Type of Study: Research |
Subject:
financial economics
Received: Sep 11 2020 | Accepted: Dec 26 2020 | ePublished: Mar 19 2021
Received: Sep 11 2020 | Accepted: Dec 26 2020 | ePublished: Mar 19 2021
References
1. Alaassar, A., Mention, A. L., & Aas, T. H. (2021). Exploring a New Incubation Model for FinTechs: Regulatory Sandboxes. Technovation, 102237. https://doi.org/10.1016/j.technovation.2021.102237 [DOI]
2. Ali, O., Ally, M., & Dwivedi, Y. (2020). The State of Play of Blockchain Technology in the Financial Services Sector: A Systematic Literature Review. International Journal of Information Management, 54(1), 102199. [DOI]
3. Arner, D. W., Barberis, J., & Buckley, R. P. (2015). The Evolution of Fintech: A New Post-Crisis Paradigm. University of Hong Kong Faculty of Law. Research Paper No. 2016-62. [DOI]
4. Berg, G., Guadamillas, M., Natarajan, H., & Sarkar, A. (2020). Fintech in Europe and Central Asia: Maximizing Benefits and Managing Risks: World Bank. [DOI]
5. Buckley, R. P., & Webster, S. (2016). FinTech in Developing Countries: Charting New Customer Journeys. Journal of Financial Transformation, 44(1), 151-159.
6. Chang, V., Baudier, P., Zhang, H., Xu, Q., Zhang, J., & Arami, M. (2020). How Blockchain Can Impact Financial Services–The Overview, Challenges and Recommendations from Expert Interviewees. Technological Forecasting and Social Change, 158(1), 120166. [DOI]
7. Checkland, P., & Poulter, J. (2006). Learning for Action: A Short Definitive Account of Soft Systems Methodology and Its Use, for Practitioners, Teachers and Students: John Wiley and Sons Ltd. [DOI]
8. Checkland, P., & Poulter, J. (2020). Soft Systems Methodology. In Systems Approaches to Making Change: A Practical Guide (pp. 201-253): Springer. [DOI]
9. Chishti, S., & Barberis, J. (2016). The Fintech Book: The Financial Technology Handbook for Investors, Entrepreneurs and Visionaries: John Wiley & Sons.
10. Darolles, S. (2016). The Rise of Fintechs and Their Regulation. Financial Stability Review, 1(20), 85-92.
11. Degerli, K. (2019). Regulatory Challenges and Solutions for Fintech in Turkey. Procedia Computer Science, 158(1), 929-937. [DOI]
12. Dhar, V. (2016). When To Trust Robots With Decisions, and When Not To. Harvard Business Review, 17(1).
13. Dorfleitner, G., Hornuf, L., Schmitt, M., & Weber, M. (2017). The Fintech Market in Germany. In FinTech in Germany (pp. 13-46): Springer. [DOI]
14. Dranev, Y., Frolova, K., & Ochirova, E. (2019). The Impact of Fintech M&A on Stock Returns. Research in International Business and Finance, 48(1), 353-364. [DOI]
15. Hayashi, F., Li, B. G., & Wang, Z. (2017). Innovation, Deregulation, and the Life Cycle of a Financial Service Industry. Review of Economic Dynamics, 26(1), 180-203. [DOI]
16. Jagtiani, J., & John, K. (2018). Fintech: The Impact on Consumers and Regulatory Responses. Journal of Economics and Business, 100(1), 1-6. [DOI]
17. Keshavarz Ghorabaee, M., Zavadskas, E. K., Turskis, Z., & Antucheviciene, J. (2016). A New Combinative Distance-Based Assessment (CODAS) Method for Multi-Criteria Decision-Making. Economic Computation & Economic Cybernetics Studies & Research, 50(3), 25-44.
18. Lee, I., & Shin, Y. J. (2018). Fintech: Ecosystem, Business Models, Investment Decisions, and Challenges. Business Horizons, 61(1), 35-46. [DOI]
19. Leong, C., Tan, B., Xiao, X., Tan, F. T. C., & Sun, Y. (2017). Nurturing a FinTech Ecosystem: The Case of a Youth Microloan Startup in China. International Journal of Information Management, 37(2), 92-97. [DOI]
20. Lin, E. M., Sun, E. W., & Yu, M.-T. (2020). Behavioral Data-Driven Analysis with Bayesian Method for Risk Management of Financial Eervices. International Journal of Production Economics, 228(1), 107737. [DOI]
21. Madura, J. (2020). Financial Markets & Institutions: Cengage Learning.
22. Mao, X.-B., Wu, M., Dong, J.-Y., Wan, S.-P., & Jin, Z. (2019). A New Method for Probabilistic Linguistic Multi-Attribute Group Decision Making: Application to the Selection of Financial Technologies. Applied Soft Computing, 77(1), 155-175. [DOI]
23. Mingers, J. (2011). Soft OR Comes of Age—But Not Everywhere! Omega, 39(6), 729-741. https://doi.org/10.1016/j.omega.2011.01.005
24. Nikkel, B. (2020). Fintech Forensics: Criminal Investigation and Digital Evidence in Financial Technologies. Forensic Science International: Digital Investigation, 33(1), 200908. [DOI]
25. Palmié, M., Wincent, J., Parida, V., & Caglar, U. (2020). The Evolution of the Financial Technology Ecosystem: an Introduction and Agenda for Future Research on Disruptive Innovations in Ecosystems. Technological Forecasting and Social Change, 151(1), 119779. [DOI]
26. Paucar-Caceres, A. (2010). Mapping the Changes in Management Science: A Review of ‘Soft’OR/MS Articles Published in Omega (1973–2008). Omega, 38(1-2), 46-56. [DOI]
27. Phan, D. H. B., Narayan, P. K., Rahman, R. E., & Hutabarat, A. R. (2020). Do Financial Technology Firms Influence Bank Performance? Pacific-Basin Finance Journal, 62(1), 101210. [DOI]
28. Philippon, T. (2016). The Fintech Opportunity: National Bureau of Economic Research. Working Paper 22476.
29. Popper, R. (2008). Foresight Methodology. The Handbook of Technology Foresight, 44-88.
30. Pyon, C. U., Woo, J. Y., & Park, S. C. (2011). Service Improvement by Business Process Management Using Customer Complaints in Financial Service Industry. Expert Systems with Applications, 38(4), 3267-3279. [DOI]
31. Saunders, M., Lewis, P., & Thornhill, A. (2009). Research Methods for Business Students: Pearson Education.
32. Tang, L., Thomas, L., Fletcher, M., Pan, J., & Marshall, A. (2014). Assessing the Impact of Derived Behavior Information on Customer Attrition in the Financial Service Industry. European Journal of Operational Research, 236(2), 624-633. [DOI]
33. Wang, Y., Xiuping, S., & Zhang, Q. (2021). Can Fintech Improve the Efficiency of Commercial Banks?—An Analysis Based On Big Data. Research in International Business and Finance, 55(1), 101338. [DOI]
| Rights and permissions | |
.jpg) |
This work is licensed under a Creative Commons Attribution 4.0 International License. |
