Regulatory challenges and mitigation for account services offered by FinTech

Mahalle, Abhishek and Yong, Jianming and Tao, Xiaohui ORCID: (2021) Regulatory challenges and mitigation for account services offered by FinTech. In: IEEE 24th International Conference on Computer Supported Cooperative Work in Design (IEEE CSCWD 2021), 5-7 May 2021, Dalian, China.

Text (Accepted Version)
Regulatory Challenges and Mitigation for FinTech.pdf

Download (380kB) | Preview


With an innovation to offer in product & services in the Banking and Financial Services Industry, FinTech have received both attention from investors and regulatory bodies across globe. With a primary objective to improve financial inclusion for unbanked population in emerging economies through mobile devices, Fintech have become new commercial entities that promises to deliver millennium goals of World Bank and G20 nations. The availability of huge user data due to use of mobile devices and its use to generate sales of financial products, FinTech companies and solutions are constantly changing and are unique to each Fintech company. Fintech have devised a business model to provide financial services in the form of payment services, wealth management, crowd funding, lending services, forex services for remittance, digital wallets and digital currencies. The data driven business model, connected customers over mobile phones and several financial services demand new regulatory framework that also protects consumers and prevents systemic risk in economy. In this papers, we have identified the regulatory guidelines issued for various financial product for customers and challenges Fintech will need to solve to provide innovative services. The paper aims to cover the life cycle of products, scope of innovation for Fintech and methods to meet requirements by regulatory bodies. This paper covers the requirements by products in “Account Services” offered by Banking and Financial Services Industry.

Statistics for USQ ePrint 40419
Statistics for this ePrint Item
Item Type: Conference or Workshop Item (Commonwealth Reporting Category E) (Paper)
Refereed: Yes
Item Status: Live Archive
Additional Information: Conference postponed from 6-8 May 2020 to 5-7 May 2021 due to Covid-19. Accepted version deposited in accordance with the copyright policy of the publisher. © 2021 IEEE. Personal use of this material is permitted. Permission from IEEE must be obtained for all other uses, in any current or future media, including reprinting/republishing this material for advertising or promotional purposes, creating new collective works, for resale or redistribution to servers or lists, or reuse of any copyrighted component of this work in other works.
Faculty/School / Institute/Centre: Current - Faculty of Business, Education, Law and Arts - School of Business (18 Jan 2021 -)
Faculty/School / Institute/Centre: Historic - Faculty of Health, Engineering and Sciences - School of Sciences (6 Sep 2019 - 31 Dec 2021)
Date Deposited: 01 Sep 2021 05:32
Last Modified: 15 Nov 2021 21:24
Uncontrolled Keywords: FinTech, regulations, banking services, big data, peer-to-peer lending
Fields of Research (2008): 15 Commerce, Management, Tourism and Services > 1502 Banking, Finance and Investment > 150203 Financial Institutions (incl. Banking)
15 Commerce, Management, Tourism and Services > 1503 Business and Management > 150307 Innovation and Technology Management
08 Information and Computing Sciences > 0806 Information Systems > 080609 Information Systems Management
Fields of Research (2020): 35 COMMERCE, MANAGEMENT, TOURISM AND SERVICES > 3502 Banking, finance and investment > 350204 Financial institutions (incl. banking)
46 INFORMATION AND COMPUTING SCIENCES > 4609 Information systems > 460905 Information systems development methodologies and practice
35 COMMERCE, MANAGEMENT, TOURISM AND SERVICES > 3507 Strategy, management and organisational behaviour > 350705 Innovation management
Socio-Economic Objectives (2008): B Economic Development > 91 Economic Framework > 9104 Management and Productivity > 910406 Technological and Organisational Innovation
B Economic Development > 89 Information and Communication Services > 8902 Computer Software and Services > 890201 Application Software Packages (excl. Computer Games)
B Economic Development > 91 Economic Framework > 9104 Management and Productivity > 910402 Management
Socio-Economic Objectives (2020): 15 ECONOMIC FRAMEWORK > 1503 Management and productivity > 150302 Management
22 INFORMATION AND COMMUNICATION SERVICES > 2204 Information systems, technologies and services > 220408 Information systems
15 ECONOMIC FRAMEWORK > 1505 Microeconomics > 150505 Industry policy
Identification Number or DOI:

Actions (login required)

View Item Archive Repository Staff Only