Sumit Agarwal and Yeow Hwee Chua
This paper reviews recent advances in the empirical literature of FinTech and household finance.
Abstract
Purpose
This paper reviews recent advances in the empirical literature of FinTech and household finance.
Design/methodology/approach
We survey the effects of FinTech on three different aspects of household finance: payments, lending and portfolio decisions. Specifically, we examine the impact of digital payments, mobile money, FinTech lending, marketplace lending, robo-advising and crowd-funding.
Findings
Studies suggest that FinTech has positively benefited households by increasing consumption and borrowing. This allows them to smoothen their consumption across time. Furthermore, there is an improvement in their portfolio diversification. Nonetheless, there is also evidence that certain households overconsume and borrow beyond their means.
Originality/value
Despite the importance of this topic, there has been a lack of empirical evidence until recently. In this paper, we take stock of the empirical evidence in the literature through the lens of household finance
Details
Keywords
Pooja Gupta, Sangita Dutta Gupta, Varnika Garg, Aakriti Jain, John Kavalakkatt and Aditi Mahawar
There are two theoretical concepts that can be taught in this case.The new approach to teaching entrepreneurship is termed “lean start-up” and “hypothesis-driven…
Abstract
Theoretical basis
There are two theoretical concepts that can be taught in this case.The new approach to teaching entrepreneurship is termed “lean start-up” and “hypothesis-driven entrepreneurship.” The business model canvas is a core tool of this approach. This framework defines nine key components of a successful business strategy. These components include defining value propositions; identifying customer segments; identifying channels; maintaining customer relationships; defining key activities, key resources and key partners; understanding the revenue model of the business; and the organization’s cost structure. This is considered to be a rigorous approach to learning about and developing a new venture.The other theoretical approach that can be discussed through this case is the link between uncertainty and entrepreneurial growth. These theories associate the willingness of entrepreneurs to bear the perceived uncertainty associated with entrepreneurial acts as representative of the belief-desire model. There is a need for entrepreneurs to experiment and search for alternative paths forward in order to counter this uncertainty. Systematic search processes to discover relevant information will strengthen this process.
Research methodology
This case is based on primary data collected through interviews with company personnel. The company consented freely to the use of their data in the case. The authors have no connection with the company. The four student coauthors had previously pursued an internship with the company and had worked on the machine learning analysis part.The two faculty coauthors in the case contacted the company after the internship and discussed the opportunity to write the case on the company. One of the faculty then interviewed key personnel in the company, including one of the co-founders.
Case overview/synopsis
Xoxoday is a technology company that provides employee rewards and corporate gifting to its customers. The company was started by Sumit Khandelwal, Manoj Agarwal, Abhishek Kumar and Kushal Agarwal. In 2018, the company reinvented itself as an experiential gifting company.The company faced some challenges during the lockdowns imposed due to COVID-19. Khandelwal knew that they had to try something new to achieve higher growth in the future. He wondered if higher usage of technology was the solution. It was necessary for them to carve a new path in these times.
Complexity academic level
This case study can be used at the undergraduate level in courses relating to entrepreneurship strategy and business models for entrepreneurs.The case can be used to highlight the dilemmas faced by entrepreneurs due to unforeseen crises. This case is relevant for classes that will discuss growth crises and out-of-the-box solutions for unprecedented crisis situations.
Details
Keywords
Sumit Agarwal and Tan Chek Ann
Fintech has revolutionized personal finance, introducing innovative tools that offer unprecedented access, efficiency, and security in managing finances. This chapter explains…
Abstract
Fintech has revolutionized personal finance, introducing innovative tools that offer unprecedented access, efficiency, and security in managing finances. This chapter explains fintech's personal finance applications, from intuitive budgeting apps and advanced robo-advisors to peer-to-peer payment platforms. It articulates how these tools have shifted the control and management of finances into the hands of consumers, providing real-time financial data, customized investment strategies, improved credit scores, and streamlined transactions that eliminate the need for traditional intermediaries. Furthermore, this chapter features a select list of FinTech50 firms and highlights how individuals can leverage their services. This comprehensive guide is invaluable for individuals seeking to leverage fintech for personal finance optimization and for professionals keen on understanding and navigating the rapidly evolving fintech landscape.
Details
Keywords
Ajit Bansal, Sumit Agarwal, Sushil Kalra and Anu Bansal
Introduction: China released an action plan in 2015 to foster the growth of big data, demonstrating that big data development has become an essential and inescapable choice for…
Abstract
Introduction: China released an action plan in 2015 to foster the growth of big data, demonstrating that big data development has become an essential and inescapable choice for stabilising growth, advancing reform, adapting structures, helping people’s livelihoods, and supporting government modernisation. The rudimentary ecology of the big data sector, combined with a favourable policy climate, creates ideal conditions for developing big data in China. The use of big data, on the other hand, has steadily shifted from a theory to reality, thanks to the explosive increase of data resources and the rise of specialised big data firms. Globally, the insurance industry is undergoing a technological revolution. The internet, mobile networks, social networks, cloud computing, and big data are all examples of digital technologies that progressively influence daily business operations and will usher in a golden era for the insurance industry.
Purpose: This chapter aims to understand the use of big data in the insurance industry innovation and the challenges insurance companies face. This chapter will also offer insight into the big data strategies of insurance companies.
Methodology: This chapter attempts to study literature reviews related to big data and examines the use of big data in the insurance industry. Also, different techniques associated with collecting big data and an assortment of big data sources are analysed in the context of the developing insurance industry.
Findings: This chapter helps us understand how big data innovations are useful for the insurance industry. The present chapter helps us in understanding the challenges faced by insurance companies. This chapter will also offer insight into the big data strategies of insurance companies.
Details
Keywords
Ajit Bansal, Sumit Agarwal and Nitish Arora
The research fields of consumer behaviour and neurology are connected to the emerging subject of neuromarketing. The learning of how the human mind reacts to marketing stimulus is…
Abstract
The research fields of consumer behaviour and neurology are connected to the emerging subject of neuromarketing. The learning of how the human mind reacts to marketing stimulus is called neuromarketing, which integrates concepts from neuroscience and economics. It looks for the underlying brain mechanisms and affective states that shape the behaviour of consumers. Neuromarketers use methods like eye tracking, biometrics, brain imaging (fMRI and EEG) and eye tracking to try and understand how consumers make decisions, what grabs their attention and how they emotionally interact with companies, products and ads. Market grooming is the process of creating and manipulating the existing market towards a specific product, service or idea. It is the practice that helps the marketer to groom the product through various stages of marketing, be it market research, product development, advertising campaigns or creating favourable conditions for the product. All practices are performed to groom the market for a specific product, when they are combined with neuromarketing, it becomes a perfect blend for the success of product in the actual market. The study concludes that market grooming along with neuromarketing can present a significant potential for enhancing the understanding of consumer decision behaviour by increasing the validity and precision of assessing customer responses to marketing activities.
Details
Keywords
H. Kent Baker, Greg Filbeck and Keith Black
Financial technology (fintech) refers to using new technology to improve and automate the delivery and use of financial services. This chapter provides a brief introduction to…
Abstract
Financial technology (fintech) refers to using new technology to improve and automate the delivery and use of financial services. This chapter provides a brief introduction to fintech. It also includes the book's purpose, distinguishing features, intended audience, and structure. A synopsis of Chapters 2 through 23 is offered. The chapter concludes that fintech is constantly evolving and is reshaping finance. Fintechs offer a new paradigm of growth.
Details
Keywords
Bijoy Bordoloi, Atul Agarwal and Sumit Sircar
The relational model and relational database management systems havebeen the de facto industry standard for organizing and managing data inmost computer‐integrated manufacturing…
Abstract
The relational model and relational database management systems have been the de facto industry standard for organizing and managing data in most computer‐integrated manufacturing environments. In recent years, however, some new database technologies have emerged – namely, object‐oriented and hybrid or extended relational – making the job of the CIM managers more difficult with regard to selecting a database technology that would be most appropriate for their operations. Presents a framework for selecting an appropriate DBMS type in a CIM setting depending on a company′s ENTITY and DATA needs. It is hoped that the presented framework would prove useful to practising managers.