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1
Trimulato, Trimulato. "Sharia Bank Product Development through Mudhrabah Investment." Shirkah: Journal of Economics and Business 1, no. 3 (December 31, 2016): 311. http://dx.doi.org/10.22515/shirkah.v1i3.24.
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Sharia banking now has a strong legal framework with the presence of law number 21 of 2008 on sharia banking in Indonesia. This regulation enforces sharia banking to develop products to achieve the targeted market share of 5%. In third-party fund products, more innovation is needed to attract people to entrust their funds in sharia banks. The visible data of mudharabah fund raising deposit products in March 2013 amounted to Rp100.746.000.000 and Rp115.728.000.000 in mudharabah deposits was visible on April 2014, which is an increase of less than 2% each month. This research uses a qualitative descriptive methodology, and is focused on fund raising products in shari'ah banking, particularly in the form of mudharabah investments for a definitive result. The results show that sharia banking requires innovative fund raising for third-party products, such as mudharabah investment products. These investments provide certainty of results despite using mudharabah and are based on the certainty that projector financing has been agreed by the sharia with the creditor banks. This investment product can be offered to both individuals and groups/collectives.Keywords: sharia banking, investment, mudharabah
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Kantoroeva, Aijamal K., and Nurzat K. Toktomamatova. "Ijara as an Innovative Product in Agricultural Financing." International Journal of Agricultural Extension 9, no. 4 (August 18, 2021): 141–47. http://dx.doi.org/10.33687/ijae.009.00.3729.
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The relevance of the study is due to the necessity to solve the problems of agricultural lending in the Kyrgyz Republic. The problems of financing and lending to agriculture are still urgent in the Kyrgyz Republic, therefore, specific financial instruments of Islamic banking, which are highly appreciated in the practise of other countries, are well suited for project financing, work in conditions of high uncertainty characteristic of agriculture in the Kyrgyz Republic. The purpose of the study was to identify alternative loan products for agricultural economic entities based on Islamic principles of financing in the Kyrgyz Republic. Research objectives: to provide brief information on the current state in the field of agricultural lending; give brief information on the development of Islamic principles of lending in the Kyrgyz Republic; define the concept and classification of Islamic banking instruments in agriculture; define the financial instrument “Ijara” and identify its advantages. Research methods: methods of the empirical level (studying of literature and other sources of information, observation, comparison), methods of the theoretical level (study and generalisation, analysis and synthesis). In the process of writing this article, Islamic banking instruments have been reviewed and classified. The concept of Ijara contract was considered, new modern technologies in the field of Islamic banking were investigated. The main distinctive principles of Islamic banking from the Western model of financial leasing were analysed. The credit history of agriculture and forestry of the Kyrgyz Republic was analysed.
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Kryvych, Ia, and A. Dranitsyna. "BANKING INNOVATION AS A FACTOR IN STRENGTHENING CONFIDENCE AND CUSTOMER LOYALTY." Vìsnik Sumsʹkogo deržavnogo unìversitetu, no. 3 (2019): 33–39. http://dx.doi.org/10.21272/1817-9215.2019.3-4.
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The purpose of the article is the development of the definition and concept of "banking innovations". The classification of banking innovations is proposed and includes product (development of new or modification of existing banking products), process (improvement of banking business processes), marketing (innovations in sales channels and marketing communications of banks), technological (related to the development of technical bank capabilities) and management (changes in the organizational structure of banks, mechanisms of planning, control, incentives, etc.). The research proves the concept of "banking innovations" can be applied to all innovations in bank functioning. This paper distinguishes definition between finance and banking innovations. Finance innovations are related to the creation and dissemination of new financial instruments as well as financial technologies, institutions and markets. The concept of "banking innovation" should be understood as a process with focus on developing new or improving existing banking products (services), technology of their promotion, as well as new innovative methods of managing banking institutions in order to obtain additional income and competitive advantages. The chronology of the most important banking technologies development is analyzed in this article. Correlations between the innovative activity of banks, technological and scientific achievements of humankind are found.Key trends of development of the banking services market (contactless payment, biometric identification, digital wallets and QR codes, Internet of Things, cryptocurrency, fintech movement) are identified and characterized. The paper is emphasizes the connection between banks' innovation activities, the formation of customer loyalty and the increasing of trust to banks. Keywords: banking innovation, financial innovation, trust, loyalty.
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Obeng, Asare Yaw, and Mkhize L. Peter. "Interrelationships and consequential effects among technological innovation, service consistency, customer satisfaction and loyalty in banking." International Journal of Finance & Banking Studies (2147-4486) 6, no. 3 (October 17, 2017): 51. http://dx.doi.org/10.20525/ijfbs.v6i3.716.
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<p>The key to long-term success in banking is consistent improvement and delivering of quality product and or value-added service that conform to the expectations of customers. IT-innovative products/services and processes (technological innovation) facilitate these key elements of customer satisfaction and critical factors for retaining valued customers. The objective of this paper is to explore the effects of technological innovation on service consistency and the consequential effects on customer satisfaction and loyalty covering seven universal banks in Ghana. The results of the empirically tested model reveal new/improved product/process functionalities, service consistency and innovative product/process satisfaction contribute significantly to customer loyalty (<em>p < 0.001</em>). Service consistency has a marginal higher impact (<em>β </em>= .373) on customer loyalty than the others. Product/process quality contributes significantly (with <em>β</em> ranging from .345 to .742 and <em>p < 0.001</em>) to each of the above three antecedents than all other items.</p>
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Mukhlisin, Ahmad, and Aan Suhendri. "STRATEGI PENGEMBANGAN PRODUK BANK SYARIAH DI INDONESIA." JES (Jurnal Ekonomi Syariah) 3, no. 1 (September 29, 2018): 60–70. http://dx.doi.org/10.30736/jes.v3i1.51.
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At present Islamic banking is growing rapidly, along with these developments various types of Islamic Bank products are also growing, where product innovation is the key to Islamic banking to be more competitive and more rapidly developed in accordance with the needs of the community. Product development strategies are one aspect of a marketing strategy. Banking product development is an effort to increase customers by introducing new banking products. The strategy of developing banking products is an effort to increase the number of customers by developing or introducing new banking products. Innovation and creativity in product creation are one of the main keys in this strategy. In general, every Islamic bank in running its business has five operational principles, namely as follows: Principles of pure savings, the principle of profit sharing, the principle of buying and selling, the principle of rent, and the principle of service (fee). Product development strategies are part of a corporate strategy. Islamic banks provide many options for the community to obtain financing that does not only depend on one type of bank with its products, if Islamic banks are able to read the potential of the region and the needs of the population is owned by Islamic banking, the development of Islamic banking products is a necessity for Islamic banks those in the region to be able to answer the needs of the community. This condition can occur can not be separated from the support of DPS who must be active and innovative and be with each bank in the area. As well as product marketing strategies must be carried out by conducting strategic alliances with mass media (radio, television and print media) and event organizers in the form of exhibitions (expo), so that these products are widely known and directly felt by the public at large. In certain expos such as people can directly register for sharia credit cards or make financing requests for the purchase of sharia products that are on display. Through this strategy Islamic banks can get a lot of success, both in increasing portfolios and marketing new products.
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Tajudeen Kolapo, Funsho, Joseph Oluseye Mokuolu, Samuel Obafemi Dada, and Adeola Oluwakemi Adejayan. "Strategic marketing innovation and bank performance in Nigeria." Innovative Marketing 17, no. 1 (March 26, 2021): 120–29. http://dx.doi.org/10.21511/im.17(1).2021.10.
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To survive in the ever-increasing competition in the financial market, commercial banks need successful innovative strategies. However, there is insufficient information on appropriate innovative strategies required by banks. Primary data were obtained through a structured questionnaire. It was distributed among 1,200 bank employees and 300 bank customers of all eight systematically important banks (Access, Diamond, Eco, First, GTB, Polaris, UBA and Zenith) out of 21 deposit money banks in Nigeria as of December 31, 2016 by random sampling and stratified sampling techniques. The data were fitted to the regression-based model. The identified marketing innovation adopted by banks include innovative service provision (4.02), generation of new product with quality (3.65), entrance into new markets (3.60) and adoption of technological tools (3.57). Performance indicators considered are customer satisfaction and customer retention. Results showed that marketing innovation strategies of the banks significantly (p &lt; 0.05) improve customer satisfaction. Improved service and product quality, introduction of new products and entrance to new market exert a positive and significant effect on outcomes of the banks. The estimated regression on customer retention showed that in a competitive environment, improved service exerts positive and significant (p &lt; 0.05) influence. Furthermore, the impact of reduction in service cost is also positive and significant (p &lt; 0.05), which is similar to the effect development of new banking products. The findings suggest that the pathway to raising performance of financial institutions in a competitive environment is diverse. There is a need for deployment of a modern banking technology, innovations around banking products and associated services.
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Hassan, Barham Khalid, Ali Omer Mohammed, and Raqeeb Abdullah Omer. "The Role of Innovative Bank Products on Customer Perception Influencing Accounting Procedures in Kurdistan." Journal of University of Raparin 8, no. 1 (March 22, 2021): 334–52. http://dx.doi.org/10.26750/vol(8).no(1).paper14.
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This study sought to find the role of innovative banking products on customer perception influencing accounting procedures in Kurdistan. The Innovative banking product was embraced as an independent variable through (transactional costs, innovation, and accessibility) and customer perception as a dependent variable. Lack of understanding of customer perception and accounting procedures is proving to be the main problem of the acceptance of products as it is the source of economic benefit in the Kurdistan financial sector. Pearson correlation tests were carried out to assess the relationship between the independent variables (Transaction costs, accessibility and innovation) and the dependent variable of Customer perceptions. Statistical package for the social sciences program (SPSS 20) was used for data analysis and presentation. Results indicated that all variables had a positive relationship with customer perceptions. The study recommended that the banks need to understand the risks associated with innovation in line with the accounting procedures to understand customer’s perception before developing and rolling out new products. Customers view products and services differently, therefore there is need to improve on customer relations, customer education and awareness and customer loyalty.
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FITHRIAH, NURHANI. "INNOVATION OF ISLAMIC BANKING INDUSTRY AS AN ALTERNATIVE ISLAMIC ECONOMIC DEVELOPMENT IN INDONESIA." Jurnal Jurisprudence 7, no. 2 (February 3, 2018): 132–41. http://dx.doi.org/10.23917/jurisprudence.v7i2.4838.
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One of potential exploration and manifestation of the community's contribution to the national economy, is the development of an economic system based on the value of Islamic (Sharia) by lifting its principles into the National Legal System. Shariah principles based on the values of fairness, expediency, balance, and universality (rahmatan lil 'alamin). Those values are applied in banking regulation that is based on the so-called Sharia Islamic Banking. Principles of Islamic Banking is part of Islamic teachings related to the economy. In addition, to provide assurance to the people who still doubt shariah Islamic Banking operations during this time also set of business activities that do not conflict with Sharia Principles include business activities that do not contain elements of riba, maisir gharar, haram, and zalim. A separate regulation for Islamic Banking is an urgent thing to do, to ensure compliance with Shariah principles, the principles of the Bank for Islamic Bank, and no less important is expected to mobilize funds from other countries that requires the regulation of the Islamic Bank. Problems faced, how the strategy and the constraints faced in Islamic Banking Industry Product Innovation in developing the economy in Indonesia by Islamic Banking Act. This study aims to look for and find in the practice of the ways and forms of Islamic banking product innovation, as well as the constraints that it faces.This research, analytical, descriptive and normative juridical approach, and aims to provide a complete picture of the facts and the systematic application of Sharing in Islamic banks. Furthermore, the data were analyzed through statutory provisions in force, which among one another should not be contradictory, pay attention to the hierarchy with the aim to achieve legal certainty, by searching and digging law who live in the community, whether it is written or unwritten (Islamic law).The results showed that the strategy which remove products of Islamic banking industry innovation, improve human resources SDI), and marketing of products strategically. Constraints faced in Islamic Banking Industry Product Innovation in developing the economy in Indonesia, it is very difficult to do because fixated on Islamic principles. Suggestions put forward, should disseminate innovative products to the public and the effectiveness of supervision of Islamic banks (Internal & ekstenal).
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Asaah, Jenkins A., Beatrice L. Asaah, and Austin W. Luguterah. "Diagnosing the Organizational Culture of Rural Community Banks in Ghana and Its Effects on Their Financial Performance." Journal of Social Science Studies 7, no. 2 (June 17, 2020): 86. http://dx.doi.org/10.5296/jsss.v7i2.15805.
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Rural Community Banks (RCBs) are important rural development partners in Ghana. They are the lifeline of credit to small businesses and individuals who do not have the necessary collateral and capacity to borrow from the traditional commercial banks. However, the RCBs are confronted with increasing customers’ demands, keen competition, and poor financial performance which has led to 26% of the country’s RCBs earmarked for liquidation. This is a serious threat to the sustainability of the country’s RCBs prompting serious concern among stakeholders of rural banking. Previous studies have looked at the issue from the perspective of regulations, corporate governance, and ownership structure. This paper seeks to look at the problem from the organizational culture and product innovation point of views.Based on the Competing Values Framework and empirical studies, hypotheses were stated and tested using data collected from 92 RCBs.The data were analyzed using the Smart PLS of SEM.The findings are that RCBs in Ghana exhibit four different cultural types but the dominant culture is control-oriented. Product innovation has a strong impact on financial performance. Cultural orientations such as compete-oriented and innovate-oriented can support RCBs to introduce innovative financial products (product innovation) while control-oriented cannot.Based on the findings, the RCBs are encouraged to create a Research and Product Development (RPD) unit. This unit should develop a cultural orientation that values and encourages freedom of thought, and experimentation of innovative ideas. The bank as an institution should value customer and competitor interactions which serve as a feedback platform for the development of innovative financial products and services.The theoretical contribution of this paper is that organizational cultural orientations that value and focus on customer satisfaction, and interaction with competitors nurture product innovation.
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Zherdetska, Liliia, Yuliia Diatlova, Valentyna Diatlova, Julia Derkach, Anastasiia Goncharenko, and Mykola Zos-Kior. "Digital banking in the marketing mix and human resource management: improving the approach to the assessment as an innovative component." LAPLAGE EM REVISTA 7, no. 3A (September 3, 2021): 111–19. http://dx.doi.org/10.24115/s2446-6220202173a1386p.111-119.
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The research evaluates the activity of using digital banking in components of the marketing mix of Ukrainian banks, such as «product», «place», «promotion», and «price». The developed methodological approach is based on the analysis of traditional bank's marketing mix elements and their innovative components, mainly digital banking. It has been established that banks, offering a generally standard set of primary products, introduce product innovations quite unevenly. According to the «place» component of the marketing mix, it has been noted that the pace of traditional marketing replacement by banking innovations marketing is slow. Regarding the «promotion» component of the marketing mix, the distribution of the indicators of the bank's activity in the use of social networks is uneven. Facebook is more used than Instagram, and not all banks use YouTube's capabilities. Banks are market leaders that use social networks and the Internet most actively.
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Mohamud, Hussein Hillowle, and Fredrick Warui. "Innovative Banking Practices and Financial Performance of Commercial Banks in Kenya." International Journal of Current Aspects in Finance, Banking and Accounting 3, no. 1 (August 13, 2021): 41–53. http://dx.doi.org/10.35942/ijcfa.v3i1.180.
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Commercial banks serve as key financial intermediaries in facilitation of the flow of money in the banking industry. Commercial banks offer credit to investment banks in order to offer investment opportunities for risky investments especially for financial securities using depositors’ money. Globally, banks are affected by broad difficulties in the operating environment. The banking industry has embraced innovation to sustain competitiveness. Financial innovations used by commercial banks revolve around the latest product, service and its conveyance to consumers. Consequently, this information influenced the research with its aim as; investigating innovative banking applications and monetary capability of banks. Particular goals included examining how; real time gross settlements (RTGS), electronic fund transfers (EFT), pay bill innovation in mobile banking and the extent of agency banking influence monetary potential of banks. Research anchored on the Schumpeter theory of innovations, the agency and bank-led theories. It was explanatory in nature and applied a census approach to gather information. The targeted group included commercial banks registered under the Central Bank totalling to 42 tiers 1. Raw and derived data was equally utilized including, financial statements and face to face interviews with top level managers. Collected information was examined by SPSS. Given conclusions were dispensed descriptively, and by inferring to statistical presentations. The resulting conclusion was that; when RTGS, agency banking, EFT, and mobile banking are solely brought up/down by a single unit, financial performance increased/ decreased by 0.163, 0.27, 0.197, and 0.318 units. At a constant however, financial performance remained at 0.236 out of 5 units. In conclusion, commercial in banks have significantly relied on innovative banking practices to shift their financial performance to new heights. The study has particularly placed both mobile and agency banking at a more central position in driving financial performance to the desired level than other factors including the RTGS and EFT. As part of the recommendations, managements of commercial banks should consider scaling up their adoption of RTGS, agency banking, EFT, and mobile banking as ways of reducing the operating cost of their respective banks reducing banking hall congestions since most of the frequently sought banking services can be achieved without one on one meeting with the bank tellers. Management should also consider adopting more innovative banking practices besides those this research investigated.
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Popelo, Olha, Maksym Dubyna, and Nataliia Kholiavko. "WORLD EXPERIENCE IN THE INTRODUCTION OF MODERN INNOVATION AND INFORMATION TECHNOLOGIES IN THE FUNCTIONING OF FINANCIAL INSTITUTIONS." Baltic Journal of Economic Studies 7, no. 2 (March 26, 2021): 188–99. http://dx.doi.org/10.30525/2256-0742/2021-7-2-188-199.
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The article reveals the essence of the concept of “financial innovations” and their features. The classification of financial innovations is given. The innovative models of the Ukrainian banking business development are analysed. The innovative developments of the world’s leading banks are systematized according to the version of the annual competition for the BAI-Finance Global Banking Innovation Awards held in Las Vegas. The innovative and information technologies in the work of financial institutions in the following areas are analysed: Product and Service Financial Innovation, Channel Financial Innovation, Financial Innovation in Social and Community Impact, Financial Innovation in Internal Process Improvement. Foreign experience and features of the development of the newest innovative information technologies in the financial services market are analysed. The subject of research is theoretical and applied aspects of the development of innovations and information technologies in the functioning of world-class financial institutions. The purpose of the article is to analyse and systematize foreign experience in the development of new innovative and information technologies in the financial services market. In the research, the authors used general scientific and specific methods, including: historical-logical, dialectical, deductive, analysis and synthesis, grouping, abstraction and formalization, benchmarking, generalizations and systematization. The article concludes that in modern rapidly evolving digitalization processes, financial innovations play an extremely important role and contribute to the economic development of countries. The authors point out that banking institutions need to focus their potential as much as possible on identifying priority digital and innovative initiatives, taking into account current challenges and threats. Finally, the effective use of specific financial innovations requires in-depth knowledge of the features of their operation and careful analysis of their consequences. The authors recommend the use of a cross-functional approach, which provides flexibility and the ability to transform change over time and is an important element in the process of implementing financial innovations. Taking into account the experience of leading banking institutions that actively implement innovative developments, the authors note that along with the benefits, financial innovations can cause new challenges and threats for all participants in this process. Researchers have shown that radical innovation can displace a dominant business model or technology and create a new market. According to the results of the analysis of innovative developments of banks around the world for the period 2015-2019, the authors found that financial innovations have changed their nature and are based on the latest digital technologies.
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Harsanto, Renny Utaminingsih. "KAJIAN YURIDIS TERHADAP PERATURAN HUKUM DALAM ASPEK TRANSPARANSI TERHADAP RISIKO PADA LAYANAN PRIORITY BANKING." Veritas et Justitia 6, no. 2 (December 25, 2020): 370–98. http://dx.doi.org/10.25123/vej.3381.
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One of the new and innovative products offered in context of priority banking services is investment products. This research shall have a look at the transparency aspect of the risk management of this particular bank product offered to priority customers and will be conducted by a juridical normative method. In addition, the author also interviewed a number of key informants working in the banking industry at Bandung. The legal analysis conducted shows that while quite a number of rules and regulation in regard to risk management of bank investment products exist and are put in place, what it lacks, in terms of customer protection, is transparency.
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Ezeh, Precious Chikezie, and Anayo D. Nkamnebe. "A conceptual framework for the adoption of Islamic banking in a pluralistic-secular nation." Journal of Islamic Marketing 9, no. 4 (November 12, 2018): 951–64. http://dx.doi.org/10.1108/jima-03-2017-0022.
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Purpose Islamic banking is an emerging product in Nigeria; it has evolved as a new reality in the Nigerian financial scene since 2011. Thus, the purpose of this paper is to propose a conceptual framework for the study of Islamic banking adoption behavior among bank customers in Nigeria. Design/methodology/approach This study is a literature and theoretical review of past studies to develop a comprehensive framework for the study of Islamic banking adoption behavior in Nigeria. Findings In this conceptual study, the researcher identified 12 independent variables, namely, relative advantage, compatibility, complexity, observability, trialability, uncertainty, promotional efforts, awareness, customer involvement, perceived information quality, profit/loss sharing and religiosity, as suitable variables for the study of Islamic bank adoption in Nigeria. Practical implications As Islamic banking is an innovative and unique product, which differs from conventional banking, it is hopeful that upon validating the framework, it will provide useful insight on the adoption behavior of Islamic bank customers in Nigeria. Social implications This study will be useful to Islamic banks in gaining and maintaining their existing customer, and policymakers, regulators and other relevant stakeholders will be able to strategize in accordance with their respective assignments toward the development and growth of the Nigerian financial industry. Originality/Value Most previous studies concentrated on product attributes of innovation adoption. But, this current study inculcated the consumers’ attitude and perception toward adoption of Islamic banking. Thus, the authors then propose several factors that can influence adoption of Islamic banking in Nigeria.
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Pozhidaeva, Natalya. "Application of Project and Process Approaches on the Example of the Largest Banks of the Russian Federation." Ideas and Ideals 14, no. 1-2 (March 25, 2022): 278–90. http://dx.doi.org/10.17212/2075-0862-2022-14.1.2-278-290.
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The article contains materials on the periodization of the application and development of project and process management in the banking sector of the Russian Federation in 2008–2021. Based on modern ideas about the economic (financial) crisis as a factor in stimulating innovation, including the banking sector, the author examines the consequences of the 2008–2009 and 2014–2015 crises and the corona crisis 2020-2021 as one of the answers to them - the introduction of project and process approaches by banks to improve banking processes. The author reveals the impact of the crisis (2008–2009) on the development and implementation by the largest banks of innovative technologies based on lean manufacturing approaches (Lean), the creation of their own production systems, as well as brief conclusions on the results of the application of lean management. The impact of the crisis of 2014–2015 is considered to stimulate innovation of commercial banks using the innovative Agile project approach, an innovative process approach based on the BPM (Business Process Management) model and other similar models. Process management and time-to-market reduction using the Agile approach are of particular relevance in the context of declining margins of the banking business and/or focusing on the best customer experience of leading Russian banks. Particular attention is paid to the innovations of 2020–2021, focused on the implementation of the ecosystem approach in the banking sector. The financial crisis caused by the coronavirus pandemic (corona crisis) has greatly accelerated the social, economic and geopolitical processes taking place in the world, and it will be easier for those organizations that have wide product and service lines and create ecosystems that form a seamless customer experience. Project and process management discussed in the article are used in most of the largest Russian banks and their ecosystems at the present time.
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Shahsavan, M., and M. Sedighi. "An Innovative Experimental Setup for Laboratory Tests of Fine Blanking Process." Advanced Materials Research 650 (January 2013): 567–71. http://dx.doi.org/10.4028/www.scientific.net/amr.650.567.
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Fine blanking process can produce parts with accurate cutting edge quality. Studying the effects of process parameters on accuracy and quality of fine banking products are usually expensive. In this paper, an innovative idea has been introduced for a set of fine blanking test rig which is not as complicate and expensive as standard fine blanking dies but it could be used alternatively for limited laboratory works. The main concept of the rig is based on manual adjustment of counter punch force and blank holder force by means of rubber spring and torque meters respectively. As a case study, the effect of counter punch force of fine blanking process in a 2mm thickness steel AISI-1006 sheet was studied by this test rig. The results show that increasing the counter punch force makes burr dimension on cutting edge to get smaller which means better quality of the product.
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Nasiri Zarandi, Hossein, and Fereshteh Lotfizadeh. "The Influence of Cognitive Innovativeness on the Behavior and Style of Consumer Adoption: Implications for Electronic-Banking Service Adoption." International Journal of Marketing Studies 8, no. 5 (September 22, 2016): 90. http://dx.doi.org/10.5539/ijms.v8n5p90.
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<p class="Body">Cognitive Innovative consumers are an important market segment for marketers. Revenue from new products adopted by innovative consumers plays a pivotal role for many firms. Hence having a correct understanding from the behavior and style of their purchase helps the firms to create and implement effective marketing plans for the new products. The current study investigates the behavior and shopping style of cognitive innovative consumers in electronic banking services through a hierarchical perspective. This research is quantitative and is practical in terms of the purpose. Yet it is a field study in terms of data gathering. The statistical population of this research includes the students of Azad University of Qazvin in Iran and the sample size is 384 persons. The resulted findings from this research, verify the hierarchy perspective of consumer innovativeness, specially the fact that cognitive innovativeness and domain-specific innovativeness are the best combination of predicting the adoption of new product behavior. Moreover the adoption behavior of these consumers follows the quality consciousness style. Results show that banks should target the cognitive innovative customers in order to have a successful marketing in regards with attracting customers and increasing the revenues from selling the electronic banking services.</p>
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Pandey, Ashish, Reeju Guha, Navjyoti Malkar, and Nisha Pandey. "Marching Towards Creating Shared Value: The Case of YES Bank." Asian Case Research Journal 23, no. 02 (December 2019): 289–312. http://dx.doi.org/10.1142/s0218927519500111.
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The case highlights YES Bank’s responsible banking approach through its journey of 12 years characterized by agile response to business opportunity and societal needs, innovative product design, organic and steady business growth and healthy shareholder returns. Responsible banking has evolved with an inclusive approach wherein it is aimed at sustainable development by creating social and natural capital along with creating stakeholder value. The three pillars of responsible banking in YES Bank are; Triple Bottom Line accounting and reporting, climate finance, and corporate social responsibility (CSR). The case raises the question about the ways of measuring the effectiveness of the responsible banking initiatives.
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RUBLEVA, Tat’yana A. "Investment mortgage as an innovative banking product in the real estate financing market." Finance and Credit 27, no. 11 (November 29, 2021): 2637–56. http://dx.doi.org/10.24891/fc.27.11.2637.
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Subject. This article discusses the role of investment mortgage in overcoming the crisis of attracting deposits by credit institutions and stimulating the investment activity of households in the real estate financing market. Objectives. The article aims to define particularities of investment mortgage and prospects for its development in the real estate funding market, and ways to improve the quality of mortgage bonds in the investment mortgage segment using artificial intelligence technologies in underwriting. Methods. For the study, I used the systems approach, comparative and logical analyses. Results. The article presents an author-developed definition of the Investment Mortgage category, its basic elements, and it describes the investment mortgage life cycle and risks. It also proposes to supplement the scoring through using the gradient boosting technique when underwriting a credit application for investment mortgage. Conclusions and Relevance. The investment mortgage segment, including mortgage deposit and mortgage loan, has a life cycle and risks that differ from the ones of the mortgage programs implemented in the banking services market. Using the gradient boosting technique can help improve the efficiency of underwriting applications for mortgage lending and investment mortgage. The results of the study can be used by credit organizations when developing a product line of mortgage lending programs in the investment mortgage segment, and digitizing credit underwriting of mortgage borrowers.
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Muriuki, Nahashon Mung’ora, and David Kiiru. "Innovative Strategies and the Performance of Savings and Credit Cooperatives in Nyeri County, Kenya." International Journal of Current Aspects 3, no. VI (November 22, 2019): 216–34. http://dx.doi.org/10.35942/ijcab.v3ivi.86.
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Reforms in banking industry have brought about many structural changes in the sector and encouraged competition. As a result, financial institutions like SACCOs have adopted competitive strategies including innovation strategies. Despite the recognized importance of financial innovation and an extensive descriptive literature, there have been surprisingly few empirical studies. This situation has denied SACCOs the much needed information regarding this important area of financial innovations sometimes leading to reverse causality in the innovation-financial performance relationship. The purpose of this study was to investigate innovative strategies and the performance of SACCOs in Nyeri County, Kenya. The study was guided by the following objectives: to establish how product innovation influences the performance, to assess the influence of organizational innovation on the performance, to determine the influence of process innovation on the performance of SACCOs, and to find out how marketing innovation affect the performance of SACCOs. The study utilized descriptive research design. It was carried out as a Census among the 6 licensed SACCOs in Nyeri County. The main instruments for primary data collection were questionnaires which consisted of structured and unstructured questions. The data was then analyzed using descriptive statistics and inferential statistics. Multiple regression was done to determine the relationship between the dependent and independent variables. The study findings were presented in tables and charts. Based on the findings of the study, it was concluded that the four independent variables (product innovation, organizational innovation, process innovation and marketing innovation) were important predictors of performance of SACCOs since each was statistically significant. The findings showed a positive correlation between the independent variables and the dependent variable. The study recommends that SACCOs should find creative ways of adopting and implementing product innovation but within the rules and guidelines of the banking industry. Organizational innovation could be improved through the human resource department getting better ways of freedom and autonomy among the employees. The services within the financial intermediaries in the SACCO should also be improved to become more helpful in facilitating the needs of the customers.
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Ainun, Nur, Sandhi Fialy Harahap, and Abdi Sugiarto. "Pengaruh Strategi Product, Price, Promotion terhadap Keputusan Nasabah Melakukan Pembiayaan pada PT BPRS Puduarta Insani Medan." Jesya (Jurnal Ekonomi & Ekonomi Syariah) 5, no. 1 (January 1, 2022): 526–35. http://dx.doi.org/10.36778/jesya.v5i1.631.
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In the age of 4.0, the banking industry must be ready to change. This era changed the way people live, work and interact with one another. including the banking sector, which faces many challenges. The bank offers different types of products and business systems, but the Indonesian people are now more reluctant to use banking services, especially conventional banks that adhere to the interest rate system prohibited by Islam. As an alternative, Islamic banking was born, which implements a profit-sharing system. Many foreign banks entering the world of domestic banking offer innovative products that create fierce competition between banks and force banks to respond to changing customer preference patterns. The marketing mix helps to shape, develop and direct the mutually beneficial exchange between producers and consumers in the long term. The financing data of BPRS Puduarta Insani has tended to decrease since 2018. This study aims to determine the influence of product, price, promotion partially and simultaneously on purchase decisions for financing products. To find the variables that have the greatest impact on customer financing decisions, this study uses quantitative research and data analysis that uses the validity and reliability test, the T-test, and the F-test. The total population in this study was 900. The sample size was determined using the Solving formula with an error tolerance = 10%, so that the study sample obtained comprised 89 respondents. Methods of data collection through interviews and questionnaires to the respondents. The data analysis technique used in this study was multiple regression analysis with a significance level of 0.05. The results showed that product, price and advertising had a positive and significant influence on customer financing decisions at BPRS Puduarta Insani Medan.
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Manuylenko, Viktoriya Valeryevna, Aminat Islamovna Borlakova, Alexander Vladimirovich Milenkov, Olga Borisovna Bigday, Elena Andreevna Drannikova, and Tatiana Sergeevna Lisitskaya. "Development and Validation of a Model for Assessing Potential Strategic Innovation Risk in Banks Based on Data Mining-Monte-Carlo in the “Open Innovation” System." Risks 9, no. 6 (June 13, 2021): 118. http://dx.doi.org/10.3390/risks9060118.
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Innovation risk in banks, a formalized instrument that is part of banks’ financial and innovative strategies, influences the assessment of innovative activity, demonstrating the importance of forecasting and assessment models of potential innovation risks. Our research into general scientific and specific methods allowed us to: (1) distinguish hierarchical concepts and their order—namely, “banking innovation”, “economic effects of innovational activities”, “financial and innovative strategy”, and “innovation risk”; (2) identify links between innovative and strategic bank management, since bank innovations are carried out in conjunction with strategies and imply positive strategic economic effects, making the assessment of potential innovation risk necessary for the current moment and the future; (3) note that the launching and use of new technologies on economic cycles and phases involving a necessary correlation between innovative profit and these phases; (4) provide preferable measurements of banks’ innovative activity and financial performance against commission income; (5) assess the potential financial performance of banks’ financial and innovative strategies within economic cycles and phases and in accordance with the nature of income; (6) present general areas for the practical application of an adapted data mining–Monte Carlo method, based on a proprietary software product. The model’s application in the “open innovation” system exhibits its multipurpose nature and allows for the selection of alternative strategic innovative solutions within economic cycle phases. It also serves in the promotion of Big Data technology in relation to finance and innovation, which is a promising area, and determines the values of the desired indicators for the “bank of the future” concept.
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Podvorica, MSc Ganimete, and Dr Sc Nail Reshidi. "Influence of Marketing on Consumer's Adoption of E-Banking." ILIRIA International Review 4, no. 2 (February 8, 2016): 93. http://dx.doi.org/10.21113/iir.v4i2.34.
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The financial system plays an extraordinary role in developing and enriching the domestic economy. E-banking service as an innovative software product and service for customers was introduced few years ago in the country from variety of national and international banks: ProCredit Bank, Raiffeissen Bank, Teb Bank, NLB Bank etc., enabling consumers to have access to their bank accounts over the internet. Since internet usage grows rapidly in the country even adoption of e-banking is expected to flourish. Behavior of customers toward adoption is explained using different behavioral model. The objective of this study is to analyze the consumer-adoption process toward e-banking. The survey is used in this respect, to find out the way they learn, try, and adopt or reject e-banking service. Furthermore, the hypothesis those females are significantly different from males on adoption of e-banking services, it prevails the null hypothesis that gender doesn’t affect adoption of e-banking services. The study reveals the characteristics of the consumers toward ebanking adoption process, such as differences in individual readiness to try new product; the information searching; advertisement and direct marketing influence; and speed rates of adoption and non adoption among genders.
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Lukovnikova, N. S. "Specifics of using credit banking instruments in conditions of the Russian banking system development." Financial Analytics: Science and Experience 13, no. 4 (November 13, 2020): 383–97. http://dx.doi.org/10.24891/fa.13.4.383.
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Subject. Uncertainty and risks of the banking system development have increased against the background of identified inefficient credit and payment instruments. The conceptual framework for the said system development includes not only the State support to backbone banks, but also establishing the cause-effect relationship between the offered banking product and the service, and the conditions and legal grounds stipulated for banks, having basic and universal licenses. Objectives. The purpose is to identify the specifics of banking operations related to credit products, considering the changes in distribution of payment instruments of banks in the credit card market. Methods. The study employs empirical and theoretical methods, like formalization, observation, comparison, test of cause and effect relationships. The systems approach forms a basis of the study. Results. I consider conditions for obtaining the government support for targeted loans, including the participation in major innovative projects and programs and the need to balance financing for the acquisition of intangible assets through subsidized interest rates on loans. It is recommended to introduce the concept of ‘credit banking instruments’ for scientific and economy-related purposes. Conclusions. Improving the efficiency of the use of credit banking instruments should be implemented on the basis of a comprehensive system of preventing financial losses, diversification of loan portfolio and optimization of payments with bank card holders, taking into account the lending policy, formed in the context of activities of a particular federal district and the subject of the Russian Federation.
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Kamal, Husni, and Arinal Rahmati. "KONSEP MAQASHID SYARIAH DALAM PENGEMBANGAN PRODUK LEMBAGA KEUANGAN ISLAM." AT-TIJARAH: Jurnal Penelitian Keuangan dan Perbankan Syariah 2, no. 2 (December 12, 2020): 120–33. http://dx.doi.org/10.52490/at-tijarah.v2i2.962.
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Islamic law has been stipulated by Allah is for human advantage, both in worldly life and in the hereafter. In order to prove that Islamic economics remains relevant whenever and wherever the objectives of maqashid shariah is needed to be implemented for creating innovative products. By doing so, shariah financial institutions are able to compete with the conventional, and at the same time they stay true to Islamic teaching principles. This article aims firstly to examine the concept of maqashid shariah on new product development of Islamic financial institution, and secondly to explore the suitability of shariah banking product with the principles of maqashid shariah. In nature, the purpose of the implementation of Shariah transactional system is for seeking human benefit both in this life and hereafter. Hence, the concept of maqashid shariah should be able to be integrated into Shari’ah banking so that its products can be hopefully broader. In short, through maqashid shariah, it creates innovative products of shariah financial institutions.
Keyword: Maqashid Shariah, Islamic Financial, Islamic Banking.
Abstrak
Setiap hukum yang ditetapkan Allah kepada ummatnya terdapat kemashlahatan baik didunia maupun di akhirat, untuk menjawab bahwa ekonomi Islam sesuai dengan kondisi zaman maka maqashid syariah sangat diperlukan untuk menciptakan produk yang inovatif sehingga lembaga keuangan syariah bisa bersaing dengan produk lembaga keuangan konvensional dan tidak bertentangan dengan prisnsip-prinsip Islam. Artikel ini bertujuan untuk mengkaji konsep maqashid syariah dalam pengembangan produk lembaga keuangan islam, secara khusus, artikel ini juga melihat kesesuaian produk yang ditawarkan oleh perbankan syariah agar sesuai dengan konsep yang telah dituangkan dalam maqashid syariah, karena pada hakikatnya melakukan transaksi dengan sistem syariah bukan saja mencari keuntungan di dunia saja, namun juga untuk mencapai maslahah dunia akhirat, oleh karena itu, konsep maqashid syariah harus mampu di integrasikan kedalam perbankan syariah agar produk yang dihasilkan tidak kaku dan sempit sehingga terhambat terhadap perkembangan lembaga keuangan syariah. harapannya, dengan memahami konsep maqashid syariah maka diharapkan bisa menciptakan produk-produk inovatif di lembaga keuangan syariah.
Kata kunci: Maqashid Syariah, Keuangan Islam, Bank Syariah
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Hanifah, Ida. "The Role of Otoritas Jasa Keuangan (Financial Services Authority) in Supervising Sharia Banking Products in Indonesia." Budapest International Research and Critics Institute (BIRCI-Journal) : Humanities and Social Sciences 2, no. 4 (November 7, 2019): 375–84. http://dx.doi.org/10.33258/birci.v2i4.637.
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The number of cross-sectoral issues in the financial services sector including Islamic banking, which includes moral hazard measures, lack of optimal protection of financial services, and the disruption of financial system stability increasingly encourage the need for the establishment of a supervisory institution in the integrated financial services sector. The source of moral damage in the management of the economy encourages the establishment of newsupervision institutions, more accountable and has a tighter function in overseeing the financial system so that it can better guarantee the achievement of financial system stability. Based on that, Financial Services Authority was formed. Various regulations that have been and will be made by the Financial Services Authority related to Islamic banking are expected to be able to provide protection for the Islamic banking industry as well as spur the development of Islamic banking in Indonesia. More comprehensive and effective supervision of sharia banking is needed along with the increase in market players, product / service variants, and increasingly innovative and complex technological advancements. During this time the existence of Financial Services Authority for Islamic banking has not felt its existence. Financial Services Authority Law is still silent on sharia-based financial services.
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Lozynska, O. I. "Closer Defining of the Content of the Concept of Bank Marketing in the Context of Digitalization of the Economy." Business Inform 1, no. 516 (2021): 320–27. http://dx.doi.org/10.32983/2222-4459-2021-1-320-327.
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The article is aimed at exploring the evolution of scientific approaches to defining the essence of bank marketing, closer defining the content of the concept of bank marketing in the context of digitalization of the economy, determining the essence and place of digital marketing in the general system of bank marketing. As a result of the research, it is found out that the modern scientific conception of bank marketing is digital marketing, which provides grounds to supplement the periodization of the development of bank marketing in Ukraine with a modern stage that corresponds to the introduction of the conception of digital marketing. It is substantiated that digital marketing coexists in the general system of bank marketing with traditional and Internet marketing and applies to traditional and innovative banking products and services. In this context, a differentiation of bank marketing by two features is proposed: type of bank product/service (traditional/innovative) and the type of bank marketing (traditional, informational, digital). In accordance with the suggested differentiation, it is proposed to develop a portfolio of bank marketing strategies. It is proved that the digital marketing strategy is systematically integrated into the overall strategic marketing planning of banking institutions. It is proposed to consider the stages of formation of the digital marketing strategy in connection with the portfolio of marketing strategies implemented in the bank’s activities. Prospects for further research are the scientific substantiation of strategic, tactical and operational aspects of digital marketing in order to increase its efficiency and effectiveness in promoting the image of the bank, banking services and products, attracting and retaining consumers of financial services.
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Billah, Tsiqoh billah. "Bank Rakyat Indonesia’s Mobile Banking Services Customers in Jember Sub-Branch Office." Archives of Business Research 8, no. 4 (May 3, 2020): 146–54. http://dx.doi.org/10.14738/abr.84.8136.
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This study is a qualitative study aimed at explaining Bank Rakyat Indonesia's mobile banking (m-Banking) services the Jember Sub-Branch Office and to find out BRI's strategy in improving m-Banking service as a reliable product for customers. The progress of the business system with the e-commerce system makes consumers switch ways by using non-cash payment methods (cashless). Technological advancements in the banking sector have encouraged the banking sector to be more innovative in providing non-cash payment services in the form of a transfer system and payment instruments in the form of electronic card, because they are secure, fast, efficient, and global. The study found that there are obstacles, namely an easy network error so that transactions can be hampered, high SMS costs for business people, can be easily accessed by others if customers forget to log off. The conclusions of using the TASS (Trust, Accuracy, Speed, Scurity) method from these five aspects are scurity and speed that need to be considered by the BRI bank, because the are several case of cyber crime and old repairs / maintence.
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Abdullah, Md Faruk, and Asmak Ab Rahman. "Is Wa’dan any different to Muwa’adah? Empirical evidence from Malaysia." International Journal of Islamic and Middle Eastern Finance and Management 8, no. 3 (August 17, 2015): 310–28. http://dx.doi.org/10.1108/imefm-11-2014-0113.
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Purpose – The study aims to consider wa’dan-based products in Islamic banks in Malaysia and discuss the validity of wa’dan in those products from the perspective of Shari’ah. Design/methodology/approach – Case studies were conducted of three Islamic banks in Malaysia. Semi-structured interviews were carried out with bankers as well as Shari’ah scholars. The document analysis method was adopted to strengthen the findings. Findings – The study shows that three Islamic banking products: Musyarakah Mutanaqisah (MM) home and property financing; Al-Ijarah Thumma Al-Bai’ (AITAB) vehicle financing; and Ijarah rental swap (IRS) use wa’dan in their product structures. After discussing the different views of the scholars, the study concludes that wa’dan should be allowed in the above-mentioned products because it is different from muwa’adah. In wa’dan, every single wa’d is separate from each other, as every one of them is related to different types of events. With regard to the issue of Shari’ah in MM home and property financing, it was concluded that wa’d from the customer to purchase the bank’s share is not a capital guarantee. Moreover, IRS is not a form of gambling but is in line with Maqasid al-Shari’ah. Research limitations/implications – The study is limited to three Islamic banks in Malaysia that focus on retail and commercial banking products. Therefore, the study excludes application of wa’dan in sukuk and some other Islamic derivatives that are not the practice of these three banks. Originality/value – This empirical study adds new knowledge by developing the concept and practice of wa’dan. Wa’dan as an innovative tool for product development to overcome Shari’ah issues in conventional banking may be of interest to practitioners all around the world.
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Syamlan, Yaser Taufik, Sakinah Sakinah, Mursalmina Mursalmina, and Asfa Asfiah. "Term - Deposit Waqf Linked Isthisna (TDWLI): Proposed Models, Accounting Aspects, and Risk Management Analysis." Economica: Jurnal Ekonomi Islam 11, no. 1 (July 1, 2020): 79–105. http://dx.doi.org/10.21580/economica.2020.11.1.4410.
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Abstract: Islamic banking (further referred to as the Bank) faces two significant problems: excessive concentration in Murabaha financing contracts and high cost of funds. These two classic problems directly impact the development of the Bank and give rise to the stigma of a less innovative and unprofitable industry. This research aims to make a new product breakthrough that can help stakeholders overcome the two problems above. Term Deposit Waqf Linked Isthisna (TDWLI) has 4 variants: TDWLI Perpetual Principal, TDWLI Perpetual Principal + Profit Sharing, TDWLI Periodic Principal, TDWLI Periodic Principal, and + Profit Sharing. The TDWLI Periodic Principal is the variant that is most ready to be applied because, in accounting terms, it has been regulated in PSAK 112. In general, this TDWLI product will provide several advantages for banks to reduce the cost of funds (especially in the main variant of Waqf only). It will increase Isthisna financing, referring to OJK data in 2019, only 0.3% of total financing. In terms of accounting treatment, PSAK 112 must be adjusted especially if the Bank will release a Perpetual-based product variant. The main problem with perpetual-based products is the uncommon features. In perpetual, cash waqf cannot be withdrawn or, in other words, eternal. This research recommends that OJK is expected to study this product more deeply to develop healthy and innovative Islamic banking.Abstrak: Perbankan syariah (selanjutnya disebut Bank) saat ini sedang menghadapi 2 masalah besar yaitu konsentrasi berlebihan di akad pembiayaan Murabaha serta tingginya Cost of Fund. Kedua masalah klasik ini berdampak langsung kepada perkembangan Bank dan memunculkan stigma industry yang kurang inovatif dan tidak menguntungkan. Penelitian ini bertujuan untuk membuat terobosan produk baru yang dapat membantu stakeholders dalam mengatasi kedua masalah diatas. Produk Deposito Waqf Linked Isthisna (DWLI) dengan 4 varian nya baik itu DWLI Perpetual Pokok, DWLI Perpetual Pokok + Bagi Hasil, DWLI Periodic Pokok dan DWLI Periodic Pokok + Bagi Hasil. DWLI Periodic Pokok menjadi varian yang paling siap untuk diaplikasikan karena secara akuntansi sudah diatur dalam PSAK 112. Secara umum produk DWLI ini akan memberikan beberapa keuntungan bagi bank dalam rangka menurunkan cost of fund (terutama pada varian Wakaf pokok saja) serta akan menaikkan pembiayaan Isthisna yang merujuk kepada data OJK tahun 2019 hanya 0,3% dari total pembiayaan. Secara perlakuan akuntansi, PSAK 112 harus disesuaikan terutama apabila Bank akan merelaisasikan varian produk berbasis Perpetual. Permasalahan utama dari produk berbasis perpetual adalah ketidak umuman fitur dimana dalam perpetual, Wakaf uang tidak dapat ditarik atau dengan kata lain abadi. Rekomendasi dari penelitian ini adalah OJK diharapkan dapat mengkaji produk ini lebih dalam demi perkembangan perbank syariah yang sehat dan inovatif.Islamic banking (further referred to as the Bank) faces two significant problems: excessive concentration in Murabaha financing contracts and high cost of funds. These two classic problems directly impact the development of the Bank and give rise to the stigma of a less innovative and unprofitable industry. This research aims to make a new product breakthrough that can help stakeholders overcome the two problems above. Term Deposit Waqf Linked Isthisna (TDWLI) has 4 variants: TDWLI Perpetual Principal, TDWLI Perpetual Principal + Profit Sharing, TDWLI Periodic Principal, TDWLI Periodic Principal, and + Profit Sharing. The TDWLI Periodic Principal is the variant that is most ready to be applied because, in accounting terms, it has been regulated in PSAK 112. In general, this TDWLI product will provide several advantages for banks to reduce the cost of funds (especially in the main variant of Waqf only). It will increase Isthisna financing, referring to OJK data in 2019, only 0.3% of total financing. In terms of accounting treatment, PSAK 112 must be adjusted especially if the Bank will release a Perpetual-based product variant. The main problem with perpetual-based products is the uncommon features. In perpetual, cash waqf cannot be withdrawn or, in other words, eternal. This research recommends that OJK is expected to study this product more deeply to develop healthy and innovative Islamic banking
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Птащенко, Олена Валеріївна. "РОЗВИТОК МАРКЕТИНГУ БАНКІВСЬКОЇ СФЕРИ НА ЗАСАДАХ КЛІЄНТООРІЄНТОВАНОГО ПІДХОДУ." Bulletin of the Kyiv National University of Technologies and Design. Series: Economic sciences 133, no. 2 (August 19, 2019): 70–78. http://dx.doi.org/10.30857/2413-0117.2019.2.6.
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The article considers the principal components of bank marketing along with providing insights into the bank marketing concept and pathways for its improvement. The study identifies the key trends and stages in bank marketing development. It is emphasized that the current mainstream in the banking sector is closely linked to the on-going processes of automation, computerization, globalization, permanently updated technological tools and advanced banking technologies. Innovations have become an integral part of banking activities and encouraged to implement a range of marketing and logistics concepts to boost the competitiveness of a banking product. Marketing approach in the area of banking provides for the use of such modern innovative marketing concepts as the concept of socio-ethical marketing, the greening concept, the concept of individualization and concept of humanization which help to promote a customer-oriented approach in the context of bank activities. This approach ensures the creation of a positive image of bank institutions and contributes to enhance their competitiveness on the bank services market. The key fundamental principles for the use of customer-oriented approach and the overall customer-oriented marketing policy in the banking sector are the following: increased competition on the financial and bank services market, globalization processes in society, building new principles of providing financial and banking services, etc.
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Mchembere, David, and Dr A. O. Jagongo. "Effect of Agency Banking Operation on Profitability of Commercial Banks: A Case Of Selected Commercial Banks in Nairobi County." International Journal of Finance and Accounting 2, no. 1 (February 11, 2017): 123. http://dx.doi.org/10.47604/ijfa.268.
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Purpose: The purpose of this study was to establish the effects of agency banking operation on profitability of commercial banks.Materials and methods: The research design used for this study was descriptive design. The target population will be all eleven commercial banks offering agency banking. The study will conduct a census for all the banks. Data will be collected by use of a questionnaire and secondary data. Data will be analyzed mainly by use of descriptive and inferential statistics. Descriptive statistics will include mean and standard deviation. Data will also be presented by use of graphs, pie charts and tables.Multiple regression models will be useful to find out the virtual importance of each of the four variables.Results: From the study finding agency banking branch networking is negative and a statistically insignificant factor of bank profitability. Effect of agency banking withdrawal transaction is positive and statistically significant. Agency banking deposit transactions is statistically significant. Agency banking accounts opening services is also a statistically significant factor, Commercial banks performance indicators is a statistically significant factor of bank profitability. It is possible to conclude that banks do obtain economies of scale and scope when they expand their activities, mainly by mergers and acquisitions. Therefore,expanded product array and potential for cross selling result from larger size and depth of product offering.Recommendations: The study recommends that for all the commercial banks to earn more profit they ought to increase the number of customers and for their businesses to grow further they have to invest more as well as embrace the adoption of market innovative strategies.The study also recommends that the banks should emphasize on cross-selling as they can be useful marketing tools for banks to reach segments of the population that do not yet use traditional banking services.Key words: agency banking operation, profitability, commercial banks
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Et. al., Aniek Susilowati. "Effects of UTAUT 2 Model on the Use of BCA Mobile Banking in Indonesia." Turkish Journal of Computer and Mathematics Education (TURCOMAT) 12, no. 3 (April 11, 2021): 5378–87. http://dx.doi.org/10.17762/turcomat.v12i3.2183.
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The m-banking service is a long-distance transaction platform that is innovative and strategic product provided by financial institution. It has succeeded in removing physical limitation of banking activities through the use of mobile device by customers. Support for the advance in internet technology bringing about considerable and continuous changes in banking operational have enabled customers to connect with business world and make transaction at any time, so that it also changes how customers use banking services. The World’s Best Bank has positioned BCA as a bank capable of adapting to pandemic situation because its banking services related to technology is considered as the best. Therefore, this research recognizes the need for testing factors affecting BCA customers to adopt and continue to use BCA m-banking service.
Design/methodology/approach – the conceptual relationship of behavior intention on the acceptance and the use of information technology in this research used UTAUT2 model. Primary data were processed using SEM method with SMART-PLS software collected from survey questionnaires carried out to 400 respondents having BCA accounts and using BCA m-banking in the last 3 months.
Findings – the main factors such as habit, hedonic motivation and facilitating condition were found to provide significant effect on behavior intention of customers to adopt and use BCA m-banking service.
Practical implications – the findings are expected to educate public about m-banking service capable of facilitating banking transaction and recommending banking system to provide a safe m-banking service and it also requires sustainable development.
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Zakic, Nebojsa, Jovanka Popovic, and Miroslav Miskic. "The Linkages Between Investments in Innovation and Business Performance in Serbia." Management:Journal of Sustainable Business and Management Solutions in Emerging Economies 25, no. 3 (December 1, 2020): 1. http://dx.doi.org/10.7595/management.fon.2019.0017.
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Motivation: Driven by an increasingly competitive marketplace, the savviest businesses invest heavily in corporate innovation as a kind of competitive intelligence that gives a business what it needs to operate with poise and precision. The strategy of investments in innovation by firms can potentially explain the heterogeneity of their income increase based on market success. Such a stimulus for growth has been a motivation for the research question being examined in this paper, namely the link between corporate financing and investment decisions of Serbian firms based on the bank loans as sources of innovation and hence improved enterprise performance. The paper is based on the research of Hottenrott et al. (2014), together with Ferrando & Preuss (2017) and Aerts & Schmidt (2008) concerning the relationship between external finance and business innovation activities. This paper provides information about a bank loan as a financing source that firms use to fund their innovative activities, with the research question whether that has the subsequent impact on the company's performance. The idea of the paper is that investments of enterprises in innovation significantly affect their revenue. Data: Empirical research has been provided by a survey in Serbia in 2017. The sample comprised 152 enterprises, mostly privately owned, of all sizes. Descriptive statistics: Cronbach's Alpha coefficient, regression analysis is used as the research tool and method. The link between business finance and innovation, and furthermore the link between innovation and income of Serbian firms have been investigated. Three groups of factors show that the degree of income and market success of the enterprise increases with the level of investment in innovative activities. These are: sources of financing and financing conditions as independent variables, and company's income revenues, as the dependent variable. Findings: Firms that use bank loans as financial instruments for innovation activities and investments are more likely to develop new products, methods and processes, and successfully increase their revenues and income based on developing this kind of added value. The findings indicate that tangible asset investment of SME’s is positively related to the use of bank finance, to new product development and to enterprise performance improvement. Contribution: Results of the research show that financial investments in business innovation directly contribute to the business sector performance improvement. It also demonstrates the theory of innovative enterprise, the significance of financing, and the impact of banking on the overall development of the economy. The results point to the need for further research in the area of access to finance, as well as the parallel development of non-banking sources of financing.
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Patrick Kibati; John Kipkorir Tanui, Gladys Chepngetich Tonui;. "The Effect of Product and Service Innovations on the Financial Performance of Commercial Banks in Kenya." Editon Consortium Journal of Business and Management Studies 2, no. 1 (August 31, 2020): 56–68. http://dx.doi.org/10.51317/ecjbms.v2i1.148.
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The objective of this study was to establish the effect of product /service innovations on the financial performance of commercial banks in Kenya. The 40 commercial banks was the population of this study which were in operation in Kenya as at December, 2017. Both primary and secondary data were used in the study. Explanatory research design was used. Questionnaires were used to gather primary data. Secondary data was collected from Central Bank annual report to validate communicative and validity of primary data. Quantitative analysis in the research was facilitated by Statistical Package for Social Sciences (SPSS), the completed questionnaires was examined and the information for each item was further processed and analysed. The results obtained was further presented in charts and tables. Regression and correlation analysis were used to study the relationship between the dependent and the independent variables of the study. These were employed to analyze the data and find out whether financial performance of commercial banks was influenced by banks innovations. The results showed that most commercial banks have concentrated on their profits by creating new products and services which have minimized their operational costs. This study used Cronbach Alpha test of internal consistency to analyze the accuracy of the research tool based on pilot data. The study recommended that banks should consider incorporating the new technology as it will increase the firms’ performance and to ensure their new products and services, are readily available in the market. The study recommended that the banking sector ought to continue investing on more innovative delivery channels since this improves banks capability to regulate expenditure. These will in turn, facilitates reduction in cost in every unit of service thus improved return on assets to financial institutions effective monitoring of accounting and auditing. Financial institutions should ensure that the banking innovations are well secured for customers to have confidence in using mobile banking and internet banking.
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Hwang, Sewoong, and Jonghyuk Kim. "Toward a Chatbot for Financial Sustainability." Sustainability 13, no. 6 (March 13, 2021): 3173. http://dx.doi.org/10.3390/su13063173.
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This study examines technology effectiveness for industry demand in which artificial intelligence (AI) is applied in the financial sector. It summarizes prior studies on chatbot and customer service and investigates theories on acceptance attitudes for innovative technologies. By setting variables, the study examines bank revenue methodologically and assesses the impact of customer service and chatbot on bank revenues through customer age classification. The results indicate that new product-oriented funds or housing subscription savings are more suitable for purchase through customer service than through chatbot. However, services for existing products through chatbot positively affect banks’ net income. When classified by age, purchases by the majority age group in the channel positively affect bank profits. Finally, there is a tendency to process small banking transactions through the chatbot system, which saves transaction and management costs, positively affecting profits. Through empirical analysis, we first examine the effect of an AI-based chatbot system implemented to strengthen financial soundness and suggest policy alternatives. Second, we use banking data to increase the study’s real-life applicability and prove that problems in customer service can be solved through a chatbot system. Finally, we investigate how resistance to technology can be reduced and efficiently accommodated.
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Chokuda, Tinevimbo, Wilford Mawanza, and Farai Chimboza. "The Impact of Emerging Market Trends on the Development and Marketing of Financial Service Products in Zimbabwe Post Dollarization." Journal of Economics and Behavioral Studies 8, no. 6(J) (January 24, 2017): 216–26. http://dx.doi.org/10.22610/jebs.v8i6(j).1495.
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Abstract: The research sought to analyse the impact of emerging market trends as measured by competition, technology and consumer demographics on the development and marketing of financial service products in Zimbabwe post dollarization. The Zimbabwean financial service sector has been largely characterised by new and changing market trends since dollarization. These trends have largely manifested in the form of entrance of new players in the market, a growing informal sector at the expense of the formal financial sector and the emergence of new technology paving way for the need to develop and market new financial service products. There is therefore need for financial service providers in Zimbabwe to continually embrace innovative product development and marketing strategies so as to shape banking products to fit consumers’ evolving financial needs much of which are well beyond the realm of traditional banking products. An explanatory research design was adopted in conjunction with a descriptive research design. Results from the study indicate that the entry of new financial institutions, removal of barriers between institutions, emergence of non-regulated financial institutions, increased consumer access to financial information owing to increased adoption of technology, market fragmentation and increased formal unemployment have a significant impact on the way financial service products are structured, provisioned. In light of that, it is recommended that financial service providers should design and tailor new business models to suit the emerging market environment.Keywords: Emerging market trends, development, financial services, Zimbabwe, post-dollarization
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Rahmawati, Ade, and Irham Zaki. "ANALISIS FAKTOR PREFERENSI IMPLEMENTASI AKAD MUSYARAKAH MUTANAQISHAH DIBANDINGKAN AKAD IJARAH MUNTAHIYA BITTAMLIK PADA BANK JATIM SYARIAH SURABAYA." Jurnal Ekonomi Syariah Teori dan Terapan 6, no. 4 (January 16, 2020): 720. http://dx.doi.org/10.20473/vol6iss20194pp720-731.
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The development of Islamic finance currently reaching a high stage by creating a varied and innovative financial product. One such product development is the musyarakah mutanaqishah and ijarah muntahiya bittamlik contracts, where the two contracts are attractive and have similiar mechanisms. Ijarah muntahiya bittamlik contract in Islamic finance more appear first than the contract musyarah mutanaqishah. But musyarakah mutanaqishah contract more widely used in the current sharia banking, ijarah muntahiya bittamlik contract more can be found in leasing and purchasing companies. The paper analyzes the application of musyarakah mutanaqishah contract on syariah banking and the reason sharia Jatim Bank prefer to apply the contract musyarakah mutanaqishah from ijarah muntahiya bittalmik contract. Then this paper also presents the advantages musyarakah mutanaqishah contract and lack of ijarah muntahiya bittamlik contract, which in the end musyarakah mutanaqishah contract more widely applied to Islamic banks, in Surabaya particular. Data analysis of this paper using case study analysis method. Where it has the conclusion that Bank Jatim Syariah Surabaya in taking a decision to choose a contract that will be applied to see from the contribution of the contract in the sharia banking. Other than in the tendency to choose some contract, Bank Jatim Syariah Surabaya also pay attention contract which is considered fo fulfill market requirement and have easy mechanism, so that doesn’t complicate employees of Bank Jatim Syariah Surabaya.Keywords: Election Policy, Musyarakah Mutanaqisah, Ijarah Muntahiya Bittamlik, Bank Jatim Syariah Surabaya
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Mallinguh, Edmund, and Zeman Zoltan. "Financial Institution Type and Firm-Related Attributes as Determinants of Loan Amounts." Journal of Risk and Financial Management 15, no. 3 (March 4, 2022): 119. http://dx.doi.org/10.3390/jrfm15030119.
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Access to formal credit remains critical for business operations, particularly for firms unable to generate sufficient funds internally. Using the World Bank’s Enterprise Survey dataset, 2018, we analyzed 230 Kenyan firms that applied for loans. These loans are sourced from banks (private, commercial, or state-owned) or non-banking financial institutions. Specifically, the paper explores the effect of financial institution type and firm-related characteristics on loan amounts advanced. The results show that the preferred credit provider matters, with the sensitivity level varying among the three institutional types. Additionally, the collateralization value, the owner’s equity proportion of fixed assets, and any existing credit facility correlate positively with the outcome variable. There is an inverse relationship between the largest shareholder’s ownership and the loan amount. The study uses the new product (service) launches to measure innovation. The findings suggest that firms in the innovation process access higher loan amounts than their non-innovative peers. Be that as it may, the difference in amount effect size between the two groups is small based on Cohen’s d rule. The paper highlights the theoretical and practical implications of these findings.
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Aksoy, Lerzan. "Linking satisfaction to share of deposits: an application of the Wallet Allocation Rule." International Journal of Bank Marketing 32, no. 1 (January 28, 2014): 28–42. http://dx.doi.org/10.1108/ijbm-03-2013-0025.
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Purpose – Despite the fact that customer satisfaction is among the most widely used metrics by managers, the link with share of deposits tends to be weak. Using a recent innovative approach termed the “Wallet Allocation Rule (WAR)” this research investigates whether measuring satisfaction relative to other competitors used exhibits a stronger correlation to share of deposits compared to measuring absolute satisfaction with the focal firm/product. Design/methodology/approach – A survey approach was used with a sample of 4,712 banking customers across the USA. Using the WAR, each respondent's satisfaction ratings were transformed into relative rankings and used to estimate their share of deposits. Findings – The results confirmed that at both the individual and the aggregate level examining relative ranked satisfaction correlates strongly with customers’ share of deposits. At the individual level relative satisfaction explains 55 percent of the variance in share of deposits, as opposed to only 9 percent for absolute satisfaction. Practical implications – The findings indicate that managers need to rethink their current approach to satisfaction measurement and consider measuring their customers’ satisfaction relative to competitors used. Furthermore, using aggregate level absolute satisfaction in managerial decision making can be misleading. Originality/value – This research provides a significant contribution to both the banking literature and the scientific literature in general by examining the robustness of a relative metrics approach within the retail banking and credit union market.
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Mogaji, Emmanuel, Ogechi Adeola, Robert Ebo Hinson, Nguyen Phong Nguyen, Arinze Christian Nwoba, and Taiwo O. Soetan. "Marketing bank services to financially vulnerable customers: evidence from an emerging economy." International Journal of Bank Marketing 39, no. 3 (March 9, 2021): 402–28. http://dx.doi.org/10.1108/ijbm-07-2020-0379.
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PurposeThis study aims to explore how banks in Nigeria are marketing financial services to financially vulnerable customers.Design/methodology/approachA multiple case study research strategy was used to analyse three commercial banks and two microfinance banks. Data were collected using semi-structured interviews with the banks' directors as well as from banks' published annual reports and archival images.FindingsThe study reveals that Nigerian banks develop different product development portfolios, adopt innovative traditional marketing schemes and apply inclusive technologies to reach and extend services to the unbanked and financially vulnerable customers in the society.Research limitations/implicationsBanks should focus on consumer engagement through the proactive development of technologies and employ innovative marketing methods. Customers' banking experiences can be enhanced if banks communicate with and educate customers about technological modes of engagement. In addition, financial service transaction support and financial literacy education can assist banks in marketing their services to financially vulnerable customers, in mutually beneficial ways.Originality/valueThis study shows how financial service operators' market and extend their services to financially vulnerable customers in emerging markets. It empirically establishes the importance of financial services to financially excluded customers.
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Khan, Imran, Mehreen Khan, and Muhammad Tahir. "Performance comparison of Islamic and conventional banks: empirical evidence from Pakistan." International Journal of Islamic and Middle Eastern Finance and Management 10, no. 3 (August 21, 2017): 419–33. http://dx.doi.org/10.1108/imefm-05-2016-0077.
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Purpose This study aims to investigate the performance differences of Islamic and conventional banks in Pakistan by using financial ratios. Design/methodology/approach This study analyzed 5 Islamic and 19 conventional banks for the periods of 2007-2014. Two types of analyses were performed – sample t-test and logistic regression. Analysis was also performed on sub-sample considering crisis effects. Findings It was found that Islamic banks are relatively better in profitability, efficiency, risk and liquidity management, while conventional banks are superior in asset quality. Higher efficiency of Islamic banks contradicts with previous studies conducted in Pakistan. Probable reasons for this include phenomenal expansion of Islamic banking industry and its broad appeal to customers in Pakistan. Risk management practices of Islamic banks are superior to conventional banks, as Shariah rules restrict pure speculation in monetary terms. Better asset quality of conventional banks is attributed to their recognition and product diversity. During the crisis, Islamic banks were found less profitable than their counterparts. Research limitations/implications This study suggests that high operational efficiency of Islamic banks should be converted into technical efficiency by improving human resource, introducing innovative market-oriented products and prudent resource allocations. As operational efficiency does not promise returns in long term, to sustain ongoing phenomenal growth of Islamic banking, management needs to gain customer trust. Originality/value This is an original research that compares performance differences across Islamic and conventional banks by using financial ratios.
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Agwu, Edwin. "From Reluctance to Resistance." International Journal of Customer Relationship Marketing and Management 4, no. 4 (October 2013): 41–56. http://dx.doi.org/10.4018/ijcrmm.2013100103.
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The internet banking services is an innovative financial transaction channel that has assumed a new urgency and relevance in today's world of business. The developed countries have embraced these services with little difficulty while the developing countries are beginning to see the benefits. The objective of this research hinged on the exploration of the supply and demand of internet banking services in the United Kingdom with special emphasis on three cities: London, Birmingham and Manchester. The study primarily probed into the extent to which the internet banking services has been adopted in the three major cities of the UK – London, Birmingham and Manchester. Secondly, it looked at the factors that are driving this adoption and thirdly, the reasons for non-usage by some segments of the selected regions. The consumer resistance theory by Ram and Sheth (1989) was therefore used as a framework of the study. As the focus is to ascertain the reasons for non-usage, and based on this framework, the following divisions were arrived at based on the non-users: 1) those that intends to use the services and 2) those that have no intention to use the services. The study data shows that there are significant differences based on the reluctant/resistance paradigm. The reluctant group falls into those that want to use but have not wholly made up their minds to do so while the resistance groups are those that have no intention of using the internet banking system at all. The study in a nutshell, provides financial managers and the academic community with a tool to engage these non-users through product designs and promotions.
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Azmi, Naelul. "PROBLEMATIKA SISTEM EKONOMI ISLAM DI INDONESIA." Mutawasith: Jurnal Hukum Islam 3, no. 1 (June 23, 2020): 44–64. http://dx.doi.org/10.47971/mjhi.v3i1.186.
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Islam provided a very wide space for the development of the economy. One of the basic principles in Islamic economics is the bermuamalah sistem . Namely that all the legal changes, unless there is an argument that forbids it, become the main driver of economic innovation that accelerates the growth of Islamic economics. However, many problems occur in the economic sistem in Indonesia, including the sistem of socialization, marketing, human resources that are less competent, Products produced from Islamic economics, Sharia Banks Turns Not Yet Sharia and the lack of attention of the Indonesian government in responding to the concept of Islamic Economics in Indonesia. This paper aims to find several solutions in socio-economic problems. It focuses on the concept of Islamic economics. The purpose of this study is to determine what obstacles are faced in the implementation of the Islamic economic sistem in Indonesia, how problems that arise and can be overcome so that they can be significantly solved. The method used in this research is library research with descriptive-analytic approach. With the results of the study show
that the solutions in dealing with Islamic economic problems in Indonesia include Correlation of Educational Institutions in the Development of Sharia Banking, Attention from the Government, Show the Real Role of Sharia Economy, Implementation of Dinar and Dirham Currency, Office Network, Implementation of Firm and Sistematic Regulation, Improving the Quality of Human Resources that are Less Competent and Professional, Training / Education / Socialization to Employees and the Community, Innovative Marketing, Product Innovation, Reorientation to the Real Sector and Improving Services and Professionalism.
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Rosiadi, Alfian, Oky Juniarko, Pera Wibowo Putro, and Dian Surya Ayu Fatmawati. "Can Agropolitan Promise Prosperity and Sustainability?" Journal of Indonesia Sustainable Development Planning 3, no. 1 (April 30, 2022): 75–94. http://dx.doi.org/10.46456/jisdep.v3i1.253.
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This paper aims to formulate development strategies for agribusiness and agroindustry areas in Kawasan Agropolitan Sendang (KAS) as a development priority area in Tulungagung. It provided alternative KAS development strategies to overcome some obstacles over the last 16 years. Since KAS is one of the national priority development objects, further studies are required to determine the best development planning formulation. The methodology used in this research is a case study method with three analyses, policy analysis, analysis of environmental conditions, and SWOT analysis. The results show that KAS needs to develop the hinterlands and cooperate in providing infrastructures such as banking institutions, markets, and road networks. Farmer groups need to participate in empowerment programs on skill training and improving the quality of innovative and creative agropolitan product standardization and counseling on socio-economic fluctuations that impact people's lifestyles and behavior.
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Gribincea, Alexandru, and Corina Gribincea. "The Market of International Banking Services and their Implications on the Economy of the Republic of Moldova." Історико-політичні проблеми сучасного світу, no. 37-38 (December 12, 2018): 71–79. http://dx.doi.org/10.31861/mhpi2018.37-38.71-79.
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By progressing technological and scientific revolution it enters in various fields of the economy. The banking sector is able to compete with large high-tech companies, online banks ensuring effective and inexpensive communication with customers. The banking sector in the future will compete with large high-tech companies such as Facebook or Amazon, considering online banks on the forefront of the competitive fight due to efficient interaction with the customers and lower costs. The main difference between online banks and traditional is the absence of large office network: interaction with customers is mainly realized through websites, mobile banking, social networks or by phone. These banks usually develop their own high-tech platforms. Since the last decades, Moldovan banks have aligned their activities with the new legislative framework in relation to the implementation of Basel III standards by implementing the CRD IV package, which will be implemented in stages by 2020. At the same time, the National Bank of Moldova continues the process of promoting the banking sector reforms, focusing on shareholders 'transparency to attract new investors to meet higher quality requirements, establishing strong corporate governance in the banking sector, identifying bank affiliates and timely reflecting unfavorable loans in banks' balance sheets. The IT Park is set up in Moldova. The main objective of the initiative is to accelerate the development of the IT industry by accelerating the implementation of technologies in various fields, opening new jobs, attracting both internal and external investments and specialists. The concept of the Moldova IT Park model claims to be an ambitious and landmark project for the development of other areas; a community that will grow every year, to which new companies and projects will join and who will make new successes. All project actors want Moldova IT Park to become a useful and efficient project offering rich digital content and advanced information services, which in turn will increase the level of economic competitiveness and welfare of the population. Lately we witness spectacular changes in banking services. The banking system cooperates with IT companies to gain a competitive advantage. Thus, any bank is able to develop and deliver innovative solutions to consumers, streamlining the work and concept of banking services. These innovations offer unprecedented opportunities in financial activity. In the future, banking cards will be excluded, bank cards, branches and subsidiaries will be optimized, and banks will turn from service / product vendors to developers of consumer options and dreams. Any whim and transaction will be possible from any corner of the Earth.
This research aims to elucidate trends in the global banking market and prospects for the Moldovan market.
Keywords: banking sector, the future of banks, virtual banks, bank mergers, bank competitiveness
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Morales, Dave T., and Fernando L. Trinidad. "UNIFIED THEORY OF ACCEPTANCE USE OF TECHNOLOGY (UTAUT) AND ITS APPLICABILITY TO MORTGAGE BANKING DIGITIZATION: THE CASE OF THE PHILIPPINES." Journal of Information System and Technology Management 4, no. 14 (September 12, 2019): 47–60. http://dx.doi.org/10.35631/jistm.414005.
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The advent of technology has influenced the way banks should conduct their business. People are becoming more conscious, more discerning and more critical with the way how businesses should provide efficient, fast, and convenient access to their products and services. And banks are not exempted from these expectations. There has been a steady surge of innovative technology that will help banks deliver more efficient services through digitization. This study was conducted to investigate the determinants of the behavioral intentions on the acceptability of the bank’s digital mortgage service from the perspective of 250 mortgage clients who are current or prospective users of digital mortgage service. The study was anchored from the Unified Theory of Acceptance Use of Technology (UTAUT). The research has found that the determinants of behavioral intention to accept digital mortgage device among mortgage clients were facilitating conditions, performance expectancy and effort expectancy. It was also revealed that based on the standardized beta coefficients, facilitating conditions (0.405), performance expectancy (0.383) and effort expectancy (0.134) had a significant influence on bank mortgage clients’ behavioral intentions to accept digital mortgage service. Additionally, it was also proven that the age, education, computer knowledge and internet knowledge of the mortgage clients moderate the impact of the three determinants: performance expectancy, effort expectancy and social influence on clients’ digital mortgage service acceptance. Lastly, it can be concluded that performance expectancy is directly related to internet time, frequency of product purchase using a mobile device and use of mobile banking.
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Esteban-Vives, Roger, Jenny Ziembicki, Myung Sun Choi, R. L. Thompson, Eva Schmelzer, and Jörg C. Gerlach. "Isolation and Characterization of a Human Fetal Mesenchymal Stem Cell Population: Exploring the Potential for Cell Banking in Wound Healing Therapies." Cell Transplantation 28, no. 11 (August 13, 2019): 1404–19. http://dx.doi.org/10.1177/0963689718817524.
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Various cell-based therapies are in development to address chronic and acute skin wound healing, for example for burns and trauma patients. An off-the-shelf source of allogeneic dermal cells could be beneficial for innovative therapies accelerating the healing in extensive wounds where the availability of a patient’s own cells is limited. Human fetal-derived dermal fibroblasts (hFDFs) show high in vitro division rates, exhibit low immunological rejection properties, and present scarless wound healing in the fetus, and previous studies on human fetal tissue-derived cell therapies have shown promising results on tissue repair. However, little is known about cell lineage stability and cell differentiation during the cell expansion process, required for any potential therapeutic use. We describe an isolation method, characterize a population, and investigate its potential for cell banking and thus suitability as a potential product for cell grafting therapies. Our results show hFDFs and a bone marrow-derived mesenchymal stem cell (BM-MSC) line shared identification markers and in vitro multilineage differentiation potential into osteogenic, chondrogenic, and adipogenic lineages. The hFDF population exhibited similar cell characteristics as BM-MSCs while producing lower pro-inflammatory cytokine IL-6 levels and higher levels of the wound healing factor hepatocyte growth factor. We demonstrate in vitro differentiation of hFDFs, which may be a problem in maintaining long-term lineage stability, potentially limiting their use for cell banking and therapy development.
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RUBLEVA, Tat'yana A. "The role of project financing in the development of the real estate funding market in Russia." Finance and Credit 27, no. 4 (April 29, 2021): 894–912. http://dx.doi.org/10.24891/fc.27.4.894.
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Subject. This article examines the impact of project financing on the development of the real estate funding market in the context of the transition to the digital economy. Objectives. The article aims to define the features of project financing in the property construction and its development prospects in the context of the transition to the digital economy. Methods. For the study, I used comparative and logical analyses, object-oriented design, and the systems approach. Results. The article defines the essence of project financing and its role in the development of the real estate funding market in the transition to the digital economy. It describes a number of features of project financing in construction and compares them with the features of project financing of innovative industrial projects. The article shows how to solve existing problems in this area and offers a use case diagram that helps develop a software product relevant to the real estate funding market. Conclusions and Relevance. The real estate funding market is a complex structure and it includes the synergy of the real estate market, banking market, and the financial market. Project financing is an integral part of the real estate funding market. It stimulates the development of quality consulting services in the market and produces key requirements for the profession of the next generation. The results of the study can be used to improve banking activities in project financing and when creating quality services of consulting companies in the real estate funding market.
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Harrieti, Nun. "The Use of Hybrid Contract in the Innovation of Islamic Banking Product." Hasanuddin Law Review 4, no. 1 (April 14, 2018): 68. http://dx.doi.org/10.20956/halrev.v4i1.1208.
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ASEAN Banking Integration Framework (ABIF) provides market access and operational flexibility for Quality ASEAN Banks (QAB) in ASEAN countries. Indonesian sharia banking is faced with various challenges in fulfilling QAB qualification within this ABIF framework, one of which is the need for product innovations that can meet the needs of community transactions. One of the innovation is through hybrid contract. This study aims to analyze the validity of the use of contract hybrid in the innovation of Sharia banking products in order to encounter ABIF including its legal consequences under the prevailing laws and regulations in Indonesia. This paper was a normative juridical research with analytical descriptive approach. The validity of the use of hybrid contract in the innovation of Islamic banking products in Indonesia in order to encounter ABIF is based on the provisions of the DSN-MUI Fatwa which regulates the covenants used in the innovation of Islamic banking products, so that sharia banking that will make product innovation in Indonesia must ask Fatwa on the terms of contract which will be used in product innovation. The legal consequences of hybrid contract in the innovation of sharia banking products in Indonesia in order to face ABIF are subject to the provisions of Financial Services Authority Regulation (POJK) of Products and Activities of Sharia Banks and Sharia Business Units, so banks are required to apply the Sharia Principles in issuing their product innovation supported by the National Sharia Council Fatwa of the Indonesian Ulama Council which become the basis for the issuance of product innovation and accompanied by the Sharia Supervisory Board's opinion on the Product's innovation.