An artificial Intelligence System Promoting Financial Institutions
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An artificial Intelligence System Promoting Financial Institutions
FinTech: An artificial Intelligence System Promoting Financial Institutions
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Page BreakFinTech: An artificial Intelligence System Promoting Financial Institutions
The interaction between the internet and business has opened new opportunities for efficiency in business operations. Other sections of business operation, like sales and marketing, haveembraced the use of technology. For example, most sales are currently carried out online; however, most financial services fail to acknowledge the potential of financial technologies in their
development and evolution. According to a statement by the governor of the Bank of England, the FinTech revolution will bring democracy to financial services (Carney, 2017). The governor went
on to say that the new technology will give consumers variety and allow small and medium-sized enterprises to access credit. The current inquiry is interested in the growth of FinTech and the
opportunities and challenges it presents to the market. According to Shim and Shin (2016), China has been greatly impacted by the growth of FinTech and has seen its implication first-hand in
the market. As such, a focus on China will play a significant role in shedding light on the implications of FinTech to financial services.
Research Questions
1. How do FinTech intermediaries help bring additional liquidity to the market?2. How does FinTech promote democracy in financial services?
3. Is there a development of new regulations to support FinTech?
Discussion
FinTech has gained attraction in fast markets like China. However, the development and adaptation of FinTech solutions have been slow and rigid due to challenging regulations (Philippon, 2016). Despite the regulations, FinTech has managed to improve democracy in the market by allowing small businesses to access loans easily. According to a recent study that sought to discuss
the FinTech ecosystem, it was found that there was an increase of 62% in FinTech ventures across the globe between 2016 and 2017 (Lee & Shin, 2018). The data indicates that there is a
widespread adaptation of FinTech technologies to aid in the growth of financial service in China. According to a study that sought to examine the implications of FinTech in the case of a Chinese
Youth Microloan startup, it was found that FinTech solutions played a significant role in allowing small companies to find a niche in the highly regulated financial market (Leong, Tan, Xiao, Tan, &
Sun, 2017). The high adaptation of FinTech solutions in China indicates that the technology presents a wider range of opportunities for the financial market to develop.
FinTech is also associated with increasing liquidity in the market. For example, Chinese startups have been advantaged with the opportunity to access small loans from online financialinstitutions, allowing these young companies to grab a niche for themselves in the otherwise restricted financial market. FinTech is playing a significant role in increasing liquidity in the Chinese
market because online technologies share huge amounts of information in the form of big data that improves transparency in business. The interconnectedness of FinTech solutions increases
transparency and promotes security to both clients and vendors.
Methodology
The study will employ a mixed-method technique. The qualitative part will make use of empirical literature review to draw information relevant to the current line of inquiry. It will focus on sources
that have been published within the last five years to maintain the relevance of the study regarding current trends, considering technology is dynamic and changes daily. The quantitative part will employ the analytical survey, where questionnaires will be used to collect data from relevant stakeholders in the financial sector. The two approaches will provide a holistic investigation in finding
answers to the given research questions.
Expected Results
From an evaluation of the current data on FinTech solutions, it is expected that most studies will point to a positive contribution of financial technologies to the market. It is projected that the
autonomy of FinTech systems will promote democracy and increase liquidity in the market.
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References
Carney, M. (2017, January). The promise of Fintechsomething new under the sun. In?Speech at Deutsche Bundesbank G20 Conference, by Bank of England Governor Mark Carney, January 25th.
Lee, I., & Shin, Y. J. (2018). Fintech: Ecosystem, business models, investment decisions, and challenges.?Business Horizons,?61(1), 35-46.
Leong, C., Tan, B., Xiao, X., Tan, F. T. C., & Sun, Y. (2017). Nurturing a FinTech ecosystem: The case of a youth microloan startup in China.?International Journal of Information Management,?37(2),
92-97.
Philippon, T. (2016).?The fintech opportunity?(No. w22476). National Bureau of Economic Research.Shim, Y., & Shin, D. H. (2016). Analyzing Chinas fintech industry from the perspective of actor-network theory.?Telecommunications Policy,?40(2-3), 168-181. http://dx.doi.org/10.1016/j.telpol.2015.11.005
An artificial Intelligence System Promoting Financial Institutions
RUBRIC
Excellent Quality
95-100%
Introduction 45-41 points
The background and significance of the problem and a clear statement of the research purpose is provided. The search history is mentioned.
Literature Support
91-84 points
The background and significance of the problem and a clear statement of the research purpose is provided. The search history is mentioned.
Methodology
58-53 points
Content is well-organized with headings for each slide and bulleted lists to group related material as needed. Use of font, color, graphics, effects, etc. to enhance readability and presentation content is excellent. Length requirements of 10 slides/pages or less is met.
Average Score
50-85%
40-38 points
More depth/detail for the background and significance is needed, or the research detail is not clear. No search history information is provided.
83-76 points
Review of relevant theoretical literature is evident, but there is little integration of studies into concepts related to problem. Review is partially focused and organized. Supporting and opposing research are included. Summary of information presented is included. Conclusion may not contain a biblical integration.
52-49 points
Content is somewhat organized, but no structure is apparent. The use of font, color, graphics, effects, etc. is occasionally detracting to the presentation content. Length requirements may not be met.
Poor Quality
0-45%
37-1 points
The background and/or significance are missing. No search history information is provided.
75-1 points
Review of relevant theoretical literature is evident, but there is no integration of studies into concepts related to problem. Review is partially focused and organized. Supporting and opposing research are not included in the summary of information presented. Conclusion does not contain a biblical integration.
48-1 points
There is no clear or logical organizational structure. No logical sequence is apparent. The use of font, color, graphics, effects etc. is often detracting to the presentation content. Length requirements may not be met
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An artificial Intelligence System Promoting Financial Institutions