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Submit a ProposalFinancial Innovation for Financial Sustainability
One Line Description
Financial Innovation for Financial Sustainability provides essential insights and practical strategies for navigating the evolving landscape of sustainable finance to demonstrate how FinTech can drive environmental sustainability and promote inclusive economic growth.
Audience
Students, educators, financial analysts, sustainability officers, FinTech entrepreneurs, policymakers, and professionals in finance, economics, and environmental studies focusing on sustainable finance, financial technology (FinTech), and green finance
Students, educators, financial analysts, sustainability officers, FinTech entrepreneurs, policymakers, and professionals in finance, economics, and environmental studies focusing on sustainable finance, financial technology (FinTech), and green finance
Description
Financial Innovation for Financial Sustainability centers on the integration of financial technology (FinTech) with sustainable development and inclusive economic growth. This volume delves into how FinTech can be leveraged to promote environmental sustainability, enhance financial inclusion, and support equitable economic development. The content will explore various aspects of sustainable finance, including green finance, digital financial services, and the role of innovation in driving sustainability within the financial sector. A multi-disciplinary approach draws insights from finance, economics, technology, and environmental studies and features empirical research, case studies, theoretical analyses, and policy discussions. This book will not only discuss current trends and innovations in sustainable FinTech but critically analyze challenges, regulatory hurdles, and ethical considerations.
In essence, the book will serve as a comprehensive resource on sustainable financial innovation, offering insights into how FinTech can be a catalyst for positive change in the global financial landscape. Sustainable FinTech sits at the intersection of financial innovation, environmental sustainability, and social equity, reflecting a broader shift in how industries and disciplines are evolving to address the complex challenges of the 21st century. Financial Innovation for Financial Sustainability situates itself within this critical discourse, offering a comprehensive exploration of how FinTech can be harnessed to lead the charge towards a sustainable and inclusive future.
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Financial Innovation for Financial Sustainability centers on the integration of financial technology (FinTech) with sustainable development and inclusive economic growth. This volume delves into how FinTech can be leveraged to promote environmental sustainability, enhance financial inclusion, and support equitable economic development. The content will explore various aspects of sustainable finance, including green finance, digital financial services, and the role of innovation in driving sustainability within the financial sector. A multi-disciplinary approach draws insights from finance, economics, technology, and environmental studies and features empirical research, case studies, theoretical analyses, and policy discussions. This book will not only discuss current trends and innovations in sustainable FinTech but critically analyze challenges, regulatory hurdles, and ethical considerations.
In essence, the book will serve as a comprehensive resource on sustainable financial innovation, offering insights into how FinTech can be a catalyst for positive change in the global financial landscape. Sustainable FinTech sits at the intersection of financial innovation, environmental sustainability, and social equity, reflecting a broader shift in how industries and disciplines are evolving to address the complex challenges of the 21st century. Financial Innovation for Financial Sustainability situates itself within this critical discourse, offering a comprehensive exploration of how FinTech can be harnessed to lead the charge towards a sustainable and inclusive future.
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Author / Editor Details
Mohd Afjal, PhD is an assistant professor in the Business School at the Vellore Institute of Technology with over six years of teaching experience. He has an impressive portfolio of publications with 21 scholarly papers in renowned journals, as well as two book chapters. He also serves as a reviewer for high-impact factor journals in finance and sustainability. His teaching interests encompass financial management, economic analysis, investment management, and financial modelling.
Mohd Afjal, PhD is an assistant professor in the Business School at the Vellore Institute of Technology with over six years of teaching experience. He has an impressive portfolio of publications with 21 scholarly papers in renowned journals, as well as two book chapters. He also serves as a reviewer for high-impact factor journals in finance and sustainability. His teaching interests encompass financial management, economic analysis, investment management, and financial modelling.
Ramona Birau, PhD is a lecturer for the Faculty of Education Science, Law, and Public Administration at Constantin Brancusi University with over ten years of experience. She has published over 100 research papers in journals and conferences and authored four books. In addition, she is the Editor in Chief of two international journals. Her research interests include financial markets, economics, cybernetics and statistics, quantitative finance, financial econometrics, management, behavioral psychology, economic sociology, and management.
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Table of Contents
Preface
1. Connecting the Unconnected—Taking the Financial Services to the Last Mile Through Digital Infrastructure
C.P. Somasundaran, Mohd. Danish Chishti, Abdullah Bin Junaid and Rakesh Guglani
1.1 Introduction
1.2 Literature Review
1.3 Methodology
1.4 Research Results
1.5 Discussion
1.6 Recommendation
1.7 Conclusion
References
2. Factors Affecting Digital Financial Inclusion in South Asia: What Does Global Findex-2021 Imply?
Jivan Biradar and Antarpreet Kaur Kalra
2.1 Introduction
2.2 Review of Literature
2.2.1 Digital Financial Inclusion: Definition and Conceptual Frameworks
2.2.2 Digital Financial Inclusion and Economic Development
2.2.3 Measuring Financial Inclusion
2.2.4 Challenges to Digital Financial Inclusion
2.2.5 Factors Contributing to Financial Exclusion
2.3 Research Method and Data Sources
2.4 Findings and Analysis
2.4.1 Factors Affecting the Access and Usage of Digital Financial Services in South Asia
2.5 Conclusion
References
3. Predictive Analytics to Reveal the Fintech Transformation via Digital Payments Trends, Experience, and Challenges
Vinoth S. and Gopalakrishnan Chinnasamy
3.1 Introduction
3.2 Literature Review
3.2.1 Fintech Transformation
3.2.2 Fintech Transformation through Digital Payments
3.2.3 Digital Payment Trends
3.2.4 Problems with Digital Payments
3.2.5 Research Gap
3.2.6 Theoretical Underpinnings
3.2.7 Hypothesis of the Study
3.2.8 Objectives of the Study
3.3 Research Methodology
3.3.1 Trends in Digital Payment Adoption
3.3.2 Digital Payment Usage Analysis
3.3.3 Customer Satisfaction Analysis
3.3.4 Challenges Faced by Users
3.3.5 Consumer Expectations Analysis
3.3.6 Comparative Usage and Satisfaction Levels Analysis
3.4 Findings and Conclusion
3.4.1 Findings
3.4.2 Conclusion
3.4.3 Stakeholder Takeaways
3.4.4 Scope for Further Research
References
4. Financial Inclusion Through Digital Means: A Crucial Pathway to Sustainable Development
Jannatul Ferdous
4.1 Introduction
4.2 The Background and Definition of Digital Financial Inclusion
4.3 The Role of Digital Financial Inclusion in Meeting the SDGs
4.3.1 Financial Inclusion and Poverty Reduction (SDG1)
4.3.2 Financial Inclusion and Ending Hunger (SDG2)
4.3.3 Financial Inclusion, Health, and Well-Being (SDG 3)
4.3.4 Financial Inclusion and Quality Education (SDG 4)
4.3.5 Financial Inclusion and Gender Equality (SDG 5)
4.3.6 Financial Inclusion, Clean Water, and Sanitation (SDG 6)
4.3.7 Financial Inclusion, Affordable and Clean Energy (SDG 7)
4.3.8 Financial Inclusion and Economic Growth (SDG 8)
4.3.9 Financial Inclusion and Industry, Innovation, and Infrastructure (SDG 9)
4.3.10 Financial Inclusion and Inequality (SDG 10)
4.3.11 Financial Inclusion and Sustainable Cities and Communities (SDG 11)
4.3.12 Financial Inclusion and Climate Action (SDG 13)
4.3.13 Financial Inclusion and Peace, Justice, and Strong Institutions (SDG 16)
4.4 Conclusion
References
5. Principles and Frameworks for Sustainable Finance: A Pathway to Global Sustainability
Bandna, Priyanka Koundal, Ilias Hussain, Mushtaq Ahmad Shah and Minie Bhalla
5.1 Introduction
5.2 Review of Literature
5.3 Research Methodology
5.3.1 Objective of the Study
5.4 Data Analysis and Discussion
5.4.1 Global and Indian Principles and Frameworks Governing Sustainable Finance
5.4.1.1 Global Principles and Frameworks
5.4.1.2 Indian Principles and Frameworks
5.4.2 Dimensions of Sustainable Investment Impact
5.5 Conclusion
References
6. Nexus of Comprehensive Growth and Development Parameters: A Detailed Analysis Concerning BRICS Countries
Aarti Suryavanshi, Akash Kumar Baikar, Madhu Ruhil and Bijay Prasad Kushwaha
6.1 Introduction
6.2 Literature Review
6.2.1 Growth and Development Parameters Positively Affect the Inclusive Development Performance of Nations
6.2.2 Inclusion
6.2.3 Intergenerational Equity and Sustainability Impacts the Inclusive Development Performance
6.3 Research Methodology
6.4 Data Analysis and Interpretation
6.4.1 Measurement Model: Reliability and Validity
6.4.2 Structural Equation Model
6.5 Discussion
6.6 Implications of the Study
6.7 Conclusion
References
7. Understanding Sustainable Finance: Evaluating Current Frameworks and Potential Policy Risks
Suzan Dsouza
7.1 Introduction
7.2 Sustainable Finance Background: Prevailing Framework Review and Conceptual Explanation
7.2.1 Frameworks Stemming From the Industry
7.2.2 Operational Processes and Labeling Criteria
7.3 Sustainable Finance
7.4 Primary Risks Associated with Defining Sustainable Finance
7.5 Conclusion
References
8. Cryptocurrency and Financial Innovation: Unveiling the Motivators Behind Cryptocurrency Investment Intentions in Malaysia
Mosharrof Hosen, Sia Sui King, Ooi Hui Ting and Hassanudin Bin Mohd Thas Thaker
8.1 Introduction
8.2 Literature Review
8.2.1 Theoretical Foundation and Hypothesis Development
8.2.2 Intention to Use Cryptocurrencies
8.2.3 Government Regulation
8.2.4 Habit
8.2.5 Perceived Risk
8.2.6 Price Value
8.2.7 Social Influence
8.2.8 Trust
8.3 Methodology
8.3.1 Research Design, Sampling Technique, and Data Collection
8.3.2 Measurement
8.3.3 Data Analysis
8.4 Result
8.4.1 Demographic Profile
8.4.2 Reflective Measurement Model Evaluation
8.4.3 Structural Model Evaluation
8.4.4 Discussion of Findings
8.5 Conclusion and Policy Implications
References
9. Reducing the Carbon Footprint of Transactions: The Environmental Impact of Technological Innovation in Finance
Bakir Illahi Dar and Shweta Jaiswal
9.1 Introduction
9.2 Traditional Financial Systems and their Environmental Impact
9.3 Technology Advancement in Finance and Its Impact on the Environment
9.4 Environmental Benefits of Digital Finance
9.5 Understanding the Carbon Footprints in Financial Transactions
9.6 Relationship Between Financial Development and Carbon Emissions
9.7 Challenges in Reducing Carbon Footprint in Financial Activities
9.8 Conclusion
9.9 Policy Implications
References
10. Volatility Spillover Effect of Green Finance with Renewable Energy and Cryptocurrency Market
Jasvinder Kaur, Kamaljit Singh and Amritha L.J.
10.1 Introduction
10.2 Review of Literature
10.3 Data and Methodology
10.3.1 Data
10.3.2 Econometric Model
10.3.2.1 ARCH LM Test
10.3.2.2 Dynamic Conditional Correlation (DCC)
10.4 Empirical Results and Discussion
10.4.1 Descriptive Statistics
10.4.2 DCC Analysis
10.4.2.1 ARCH LM Test
10.4.2.2 DCC-GARCH Estimation
10.5 Conclusions and Recommendations
References
11. Personalization in the FinTech Age: From Mass Marketing to Micro-Targeting
Mohamed Iliyas A. and Praveen Kumar K.
11.1 Introduction
11.2 Fintech and Marketing Evolution
11.3 Micro-Targeting in Fintech
11.3.1 Beyond Demographics: Psychographic Nuances
11.3.1.1 Financial Personalities
11.3.1.2 Examples: Psychographic Targeting at Work
11.3.2 Emerging Technologies and Micro-Targeting
11.3.2.1 Open Banking APIs
11.3.2.2 Artificial Intelligence (AI)
11.3.2.3 Chatbots with Financial Expertise
11.3.3 Ethical Considerations and the Human Touch
11.3.3.1 Explainable AI
11.3.3.2 Human Oversight
11.3.3.3 Focus on Financial Inclusion
11.3.4 Data Sources for Micro-Targeting
11.3.4.1 Transaction Data
11.3.4.2 App Usage
11.3.4.3 Demographics
11.3.4.4 Psychographics
11.4 Benefits of Personalized Marketing
11.5 Financial Inclusion through Personalization
11.6 Ethical Considerations
11.6.1 Informed Consent
11.6.2 Data Privacy and Security
11.6.3 Minimizing Harm and Maximizing Benefits
11.6.4 Fairness and Avoidance of Bias
11.6.5 Transparency and Honesty
11.6.6 Respect for Consumer Autonomy
11.6.7 Compliance with Regulations
11.6.8 Ethical Framework and Industry Integrity
11.7 Technological Advancements
11.7.1 Big Data Analytics
11.7.2 Machine Learning and AI
11.7.3 Blockchain Technology
11.7.4 Mobile Banking and Digital Wallets
11.7.5 Internet of Things (IoT)
11.7.6 Cloud Computing
11.7.7 Chatbots and Virtual Assistants
11.7.8 Ethical Considerations in Technological Advancements
11.7.9 Data Privacy and Security
11.7.10 Bias and Fairness in AI
11.7.11 Informed Consent
11.7.12 Regulatory Compliance
11.8 Practical Implications for Fintech Companies
11.8.1 Enhanced Customer Experience
11.8.1.1 Personalized Financial Products and Services
11.8.1.2 Real-Time Personalization
11.8.2 Optimized Marketing Strategies
11.8.2.1 Targeted Marketing Campaigns
11.8.2.2 Cost-Effective Advertising
11.8.3 Improved Customer Retention and Loyalty
11.8.3.1 Customized Communication
11.8.3.2 Loyalty Programs
11.8.4 Data-Driven Decision Making
11.8.4.1 Customer Insights and Analytics
11.8.4.2 Predictive Analytics
11.8.5 Ethical and Regulatory Compliance
11.8.5.1 Data Privacy and Security
11.8.5.2 Fairness and Bias in AI
11.8.6 Operational Efficiency
11.8.6.1 Automation and Efficiency
11.8.6.2 Scalability
11.9 Benefits of Personalization and Micro-Targeting in Fintech
11.9.1 Enhanced Customer Experience
11.9.2 Optimized Marketing Strategies
11.9.3 Improved Customer Retention and Loyalty
11.9.4 Data-Driven Decision Making
11.9.5 Ethical and Regulatory Compliance
11.9.6 Operational Efficiency
11.10 Implementing Micro-Targeting and Personalization Strategies for Fintech Companies
11.10.1 Invest in Advanced Technologies
11.10.2 Develop Robust Data Privacy Policies
11.10.3 Focus on Ethical AI Practices
11.10.4 Create Personalized Marketing Campaigns
11.10.5 Enhance Customer Engagement through Loyalty Programs
11.10.6 Leverage Data for Continuous Improvement
11.10.7 Ensure Scalability and Efficiency
11.11 Case Studies
11.11.1 Case Study 1: Revolut’s Personalized Financial Services
11.11.1.1 Company Background
11.11.1.2 Enhanced Customer Experience
11.11.1.3 Optimized Marketing Strategies
11.11.1.4 Improved Customer Retention and Loyalty
11.11.1.5 Data-Driven Decision Making
11.11.1.6 Ethical and Regulatory Compliance
11.11.1.7 Operational Efficiency
11.11.2 Case Study 2: Square’s Targeted Marketing for Small Businesses
11.11.2.1 Company Background
11.11.2.2 Enhanced Customer Experience
11.11.2.3 Optimized Marketing Strategies
11.11.2.4 Improved Customer Retention and Loyalty
11.11.2.5 Data-Driven Decision Making
11.11.2.6 Ethical and Regulatory Compliance
11.11.2.7 Operational Efficiency
11.11.3 Case Study 3: PayPal’s Data-Driven Customer Engagement
11.11.3.1 Company Background
11.11.3.2 Enhanced Customer Experience
11.11.3.3 Optimized Marketing Strategies
11.11.3.4 Improved Customer Retention and Loyalty
11.11.3.5 Data-Driven Decision Making
11.11.3.6 Ethical and Regulatory Compliance
11.11.3.7 Operational Efficiency
11.12 Conclusion
References
12. Social Entrepreneurship Program as a Sustainable Business Model to Achieve Financial Inclusion for Poor Families in Indonesia
Badrun Susantyo, Hari Harjanto Setiawan and Abdullah
12.1 Introduction
12.1.1 Definition and Importance of Financial Inclusion
12.1.2 The Role of Social Entrepreneurship in Promoting Financial Inclusion
12.2 The Rationale of the Study
12.2.1 Poor People Receiving Conditional Cash Transfers (CCT)
12.2.2 Social Entrepreneurship Program for Financial Inclusion
12.2.3 Sustainable Business Model for Family Welfare
12.3 Methodology
12.3.1 Population and Sample
12.3.2 Data Collection
12.3.3 Data Analysis
12.4 Results and Discussion
12.4.1 Overview of the Social Entrepreneurship Program
12.4.2 Program Implementation
12.4.2.1 Ability to Access Finance
12.4.2.2 Ability to Manage Assets
12.4.2.3 Sustainable Livelihood Capabilities
12.4.3 Ability to Manage Social Capital and Networking
12.4.4 Impact on the Lives of Beneficiaries
12.5 Conclusion
Acknowledgments
References
13. Bridging the Digital Divide: Leveraging Technological Innovations for Inclusive and Sustainable Finance
Abhijit Ghosh and Ankita Bhatia
13.1 Introduction
13.1.1 Concept of Financial Inclusion
13.1.1.1 Definition, Scope, and Significance
13.1.1.2 Historical Evolution and the Necessity for Sustainable Financial Strategies
13.1.2 The Global Challenge of Financial Exclusion
13.1.2.1 Statistical Overview of the Unbanked and Underbanked Populations
13.1.2.2 Economic and Social Implications of Financial Exclusion
13.1.3 Digital Finance as a Catalyst for Sustainable Development
13.1.3.1 Introduction to Digital Finance and Its Potential for Global Sustainability
13.1.3.2 Role of Financial Innovations in Achieving the Sustainable Development Goals (SDGs)
13.1.4 Objectives and Scope of the Chapter
13.1.4.1 Purpose of the Chapter Within the Context of the Book’s Theme
13.1.4.2 Overview of Areas Covered, Methodologies Used, and Key Questions Addressed
13.2 The Current State of Digital Financial Inclusion
13.2.1 Defining Digital Financial Inclusion
13.2.2 Drivers and Enablers of Digital Finance Adoption
13.2.3 Global Overview of Digital Financial Services
13.3 Sustainable Innovations in Digital Finance
13.3.1 Mobile Banking and Mobile Money
13.3.1.1 Development Trajectory, Current Status, and Impact on Sustainability
13.3.1.2 Case Studies Highlighting Successful Models from Diverse Economies
13.3.2 Peer-to-Peer Lending and Microfinance Platforms
13.3.2.1 Mechanisms, Growth, and Their Contribution to Economic Resilience
13.3.2.2 Exploration of Regulatory Frameworks Ensuring Sustainability and Consumer Protection
13.3.3 Blockchain and Cryptocurrency
13.3.3.1 Applications in Securing Transparent and Low-Cost Remittances
13.3.3.2 Environmental Considerations and Energy-Efficient Blockchain Technologies
13.3.4 Emerging Innovations
13.3.4.1 Digital IDs, InsurTech, and Their Roles in Sustainable Financial Ecosystems
13.4 Overcoming Challenges for Sustainable Digital Financial Inclusion
13.4.1 Infrastructure and Connectivity Challenges
13.4.1.1 Addressing Digital Divide Issues that Impact Financial Access
13.4.1.2 Sustainable Infrastructure Solutions for Remote and Underserved Areas
13.4.2 Trust, Security, and Data Protection
13.4.2.1 Building Trust in Digital Platforms Through Transparent Practices
13.4.2.2 Ensuring Robust Data Protection and Privacy in Digital Financial Services
13.5 Regulatory Frameworks and Policy Implications for Sustainability
13.5.1 National and International Regulatory Landscapes
13.5.1.1 Analysis of Policy Adaptations to Foster Inclusive Financial Technologies
13.5.1.2 Case Studies on Policy Successes and Ongoing Challenges
13.5.2 Balancing Innovation with Sustainability
13.5.2.1 Methods to Sustainable Innovation without Sacrificing the Environment
and Social Righteousness
13.6 Sociocultural Dynamics and Community Engagement
13.6.1 Cultural Adaptation and Financial Behavior
13.6.1.1 How Cultural Perceptions Influence the Adoption of Financial Technologies
13.6.1.2 Community-Led Financial Solutions and Their Sustainability Impacts
13.6.2 Interdisciplinary Insights for Holistic Financial Solutions
13.6.2.1 Contributions from Behavioral Economics, Environmental Science, and Social Research
13.7 Case Studies: Global Successes in Digital Financial Inclusion
13.7.1 Mobile Banking in South Asia
13.7.1.1 Background, Implementation Strategies, and Outcomes
13.7.1.2 Lessons Learned and Key Takeaways
13.7.2 Blockchain for Financial Inclusion in Sub-Saharan Africa
13.7.2.1 Project Overview and Strategic Approaches
13.7.2.2 Evaluation of Impact and Scalability
13.7.3 Additional Global Examples of Noteworthy Projects
13.8 Future Directions and Strategic Recommendations
13.8.1 Anticipating Future Innovations
13.8.2 Crafting Policies for Tomorrow
13.9 Areas for Further Research
13.10 Conclusion
13.10.1 Synthesis of Key Insights
13.10.2 Forward-Looking Perspective
References
14. Customer Acceptance of Sustainable Fintech Innovation: A Study from an Indian Customer Perspective
Pinnika Syam Yadav, P.B. Narendra Kiran, Abhishek Sharma, Rajesh Vemula and Ankitha Shrama
14.1 Introduction
14.2 Literature Review
14.3 Research Methodology
14.4 Results
14.5 Discussion and Conclusion
References
15. Green Finance and Sustainability: Landscape of Indian Financial Institutions
Hridhya P. K., Kavitha Desai, Sriram Ananthan, Thirupathi Manickam, Devaraja Nayaka K. and Joel Jebadurai D.
15.1 Introduction
15.1.1 Definition of Green Finance
15.2 Review of Literature
15.3 Green Finance Instruments
15.3.1 Green Bonds
15.3.2 Green Loans
15.3.3 Green Equity Funds
15.3.4 Green Mortgages and Home Equity Loans
15.3.5 Green Credit Cards
15.3.6 Green Insurance
15.4 Current Landscape of Green Finance in India
15.5 Case Studies
15.5.1 State Bank of India
15.5.2 Punjab National Bank
15.5.3 Bank of Baroda
15.5.4 ICICI Bank
15.5.5 HDFC Bank
15.5.6 Kotak Mahindra Bank
15.6 Regulatory Framework and Government Initiatives
15.6.1 Reserve Bank of India (RBI)
15.6.2 SEBI Regulations
15.6.3 Initiatives by Other Regulators
15.7 Green Taxonomy
15.7.1 India’s Green Taxonomy
15.7.2 Deep Dive into the Indian Green Taxonomy
15.8 Challenges in Green Finance
15.8.1 Standardization and Taxonomy
15.8.2 Lack of Awareness
15.8.3 Regulatory Uncertainties
15.8.4 High Initial Costs
15.8.5 Limited Data and Metrics
15.8.6 Opportunities and Future Directions
15.8.7 Public–Private Partnerships
15.8.8 Innovative Financial Instruments
15.8.9 Capacity Building and Awareness
15.8.10 Policy Support and Regulatory Framework
15.8.11 Access to Finance and De-Risking Mechanisms
15.8.12 International Collaboration and Knowledge Sharing
15.9 Future of Green Finance in India
15.10 Conclusions
References
Blogs and Websites
16. Exploring the Future of Sustainable Finance: Trends, Challenges, and Opportunities
Chandni Keswani and Shyam Sunder Agrawal
16.1 Introduction
16.1.1 Sustainable Finance
16.1.2 Evolution of Sustainable Finance
16.1.3 Elements of Sustainable Finance
16.1.3.1 Socially Responsible Investing
16.1.3.2 Climate Financing
16.1.3.3 Green Financing
16.1.3.4 Carbon Financing
16.1.3.5 Energy Financing
16.1.3.6 Sustainable Financing and Investing
16.1.4 Adoption of Sustainable Finance Policies by G20 and Other Economies
16.2 Review of Literature
16.2.1 Research Gap
16.3 Methodology
16.3.1 Research Questions
16.4 Current Trends in Sustainable Financing
16.5 Role of Artificial Intelligence and Machine Learning in Sustainable Finance
16.5.1 Data Analysis
16.5.2 Risk Assessment
16.5.3 Decision Making
16.6 Challenges in Adopting Sustainable Finance
16.7 Opportunities in Sustainable Financing
16.8 Conclusion
16.9 Implications
References
17. Enhancing Financial Inclusion: The Role of Digital Knowledge and Well-Being in Fintech Use
Priya K.M. and S. Saravanakumar
17.1 Introduction
17.1.1 Importance
17.1.2 Evolution
17.1.3 Technology Acceptance Model
17.1.4 Diffusion of Innovation Theory
17.2 Literature Review and Research Hypotheses
17.2.1 Financial Wellbeing
17.2.2 Fintech Use
17.2.3 Financial Inclusion
17.2.4 Digital Financial Knowledge
17.3 Research Methodology
17.3.1 Target Population, Sampling Procedure, and Data Collection
17.3.2 Common Method Bias
17.3.3 Measures
17.4 Results and Discussion
17.4.1 Demographic Profile of the Respondents
17.4.2 Measurement Model Investigation
17.4.2.1 Reliability and Validity Analysis
17.4.3 Structural Equation Modeling
17.4.3.1 Variation Inflation Factor
17.4.3.2 Discriminant Validity
17.4.3.3 Heterotrait–Monotrait Ratio
17.4.3.4 R Square and Adjusted R Square
17.4.3.5 F Square
17.4.4 Hypothesis Testing and Mediation Analysis Results
17.4.5 Moderation Analysis
17.4.6 Mediation Analysis
17.5 Theoretical Implications
17.6 Managerial Implications
17.7 Conclusion
Author Contribution
Conceptualization
Acknowledgment
References
18. Analyzing the Causal Relationship Between Bitcoin Trade and Environmental Quality in the United States
G. Nwokike Ike, D. Ugochukwu Ike and A. Akhlaghi Mofrad
18.1 Financial Innovations, Bitcoin, and Environmental Quality
18.2 Environmental Effects of Bitcoin Mining: Some Background
18.3 Past Studies: Financial Innovations and Environmental Quality
18.3.1 Bitcoin Trade and Environmental Quality
18.4 Data and Methodology
18.4.1 The Model
18.4.1.1 Granger Causality Based on the Toda–Yamamoto Methodology
18.4.1.2 Time-Varying Granger Causality Test
18.5 Empirical Results
18.6 Conclusion and Policy Implications
18.6.1 Financial Implications
18.6.2 Implications for Renewable Energy Transition
18.6.3 Implications for Energy Efficiency Improvements
18.6.4 Implications for Regulatory Measures
18.6.5 Implications for Carbon Offsetting
18.6.6 Implications for Innovative Mining Practices
18.6.7 Implications for Research and Innovation
18.7 Direction for Future Studies
References
19. SHG Women-Promoted MSMEs’ FinTech Adoption: Impact on Sustainable Financial Performance with Innovation Practices as a Mediator
Ramamurthy Bedaduri, Rajesh Mamilla and K. Reddy Praneeth
19.1 Introduction
19.1.1 About FinTech
19.1.2 Research Questions
19.1.3 Research Objectives
19.2 Review of Literature and Hypotheses Development
19.2.1 Research Framework
19.3 Research Methodology
19.3.1 Research Approach and Design
19.3.2 Questionnaire Design, Scale Measurement of Variables, and Data Description
19.3.3 Sample Size
19.3.4 Statistical Techniques
19.3.5 Data Analysis
19.4 Assessment of Measurement Model
19.4.1 Model Outer Loadings
19.4.2 Construct Reliability and Validity
19.4.3 Discriminant Validity
19.4.4 Respondents’ Demographic Profile
19.4.5 PLS Algorithm Structural Model Assessment
19.4.6 Bootstrapping Models Path Coefficients and Hypothesis Testing
19.5 Analysis Findings and Discussion
19.6 Implications
19.6.1 Managerial Implications
19.6.2 Policy Implications
19.6.3 Social Implications
19.6.4 Practical Implications
19.7 Conclusions
References
20. Environmental, Social, and Governance (ESG) Investing: Pioneering Change for a Sustainable and Resilient Tomorrow
N. Singhal, S. Goyal, M. Khan, T. Singhal and M. Afjal
20.1 Introduction to ESG Investing: Embracing Sustainability in Financial Markets
20.2 Evolution of ESG Investing: Navigating the Evolving Landscape
20.3 Principles of ESG Investing
20.4 What Makes ESG Integration a Game Changer in Investment Decisions
20.4.1 Risk Management
20.4.2 Long-Term Value Creation
20.4.3 Sustainable Competitive Advantage
20.4.4 Resilience and Stability
20.4.5 Regulatory and Supervisory Compliances
20.5 Navigating the ESG Investing: Elements Driving Transformative Changes in Financial Markets
20.5.1 The Investor’s Role
20.5.2 Corporation’s Role
20.5.3 Regulatory Frameworks and Market Governance
20.5.4 ESG Metrics and Financial Analysis
20.5.5 Market Responses to ESG Incidents
20.5.6 Financial Innovation in ESG Products
20.5.7 Stakeholder Activism and Market Influence
20.5.8 Opportunities for Market Transformation
20.6 ESG Integration Frameworks: Sustainable Finance Complexity
20.6.1 The Materiality Assessment Model: Identifying and Prioritizing ESG Factors
20.6.2 Thematic Investing and ESG: Aligning Investments with Global Challenges
20.6.2.1 Recognizing the Interconnectedness of Global Challenges
20.6.2.2 Deep Understanding of Chosen Themes
20.6.2.3 Aligning Investments with Societal Values
20.6.2.4 Capitalizing on Emerging Opportunities
20.6.3 Quantitative ESG Models: Data-Driven Decision Making
20.6.3.1 Scenario Analysis
20.6.3.2 Stress Testing
20.6.4 ESG Rating Agencies: Navigating the Rating Landscape
References
21. AI for Sustainable Finance: Driving Innovation and Ethical Growth
N. Singhal, S. Goyal, M. Khan and T. Singhal
21.1 Introduction
21.2 How Can Artificial Intelligence Advance Sustainable Finance?
21.2.1 ESG Data Analysis and Reporting Framework
21.2.2 Risk Management and ESG Integration
21.2.3 Climate Risk Modeling
21.2.4 Impact Investing
21.2.5 Sustainable Supply Chain Management
21.2.6 Enhanced Reporting and Compliance
21.2.7 Inclusive Development
21.3 AI Technologies in Sustainable Finance
21.3.1 Machine Learning (ML)
21.3.2 Natural Language Processing (NLP)
21.3.3 Robotic Process Automation (RPA)
21.3.4 Predictive Analytics
21.4 Bridging the Perception–Implementation Gap
21.4.1 Education and Training
21.4.2 Collaboration and Partnerships
21.4.3 Proof of Concept
21.4.4 Clear Communication
21.5 Ensuring Ethical Use of AI in Sustainable Finance
21.5.1 Bias and Fairness
21.5.2 Transparency and Explainability
21.5.3 Data Privacy and Security
21.5.4 Regulatory Compliance
21.5.5 Human Oversight
21.5.6 Skill Gaps and Workforce Impact
21.6 Conclusion
References
22. Support Vector Machines in Stock Price Prediction: A Review
Sulaiman Abdullah Saif Alnasser Mohammed
22.1 Introduction
22.1.1 The Literature Gaps
22.2 Methodology
22.2.1 Material
22.2.2 Search Strategy
22.3 Literature Review
22.3.1 Underlining Theories
22.3.2 Structure of Support Vector Machines (SMVs)
22.3.3 Previous Studies on SVM and Stock Price Predictions
22.4 Results and Analysis
22.4.1 Kernel Functions
22.4.2 Parameter Tuning and Optimization
22.4.3 Feature Selection and Engineering
22.4.4 Handling Imbalanced Data
22.4.5 The Integration of External Factors
22.5 The Proposed Hyped Model
22.5.1 Proposing Hybrid-OSVM Model
22.6 Conclusion
22.7 Limitations and Recommendations for Future Research
References
23. Technological Confluence: An In-Depth Analysis of the Nexus Between Blockchain, Artificial Intelligence, and Emerging Technologies in Facilitating Green Financial Solutions
Mohammad Juned and Faisal Usmani
23.1 Introduction
23.1.1 The Symbiotic Relationship Between Finance and Technology for Sustainability
23.1.1.1 The Influence of Technology on Sustainable Investment Practices
23.1.2 Environmental Challenges and Green Finance in the Business Landscape
23.2 Technological Advancements Driving Green Finance Innovation
23.2.1 Blockchain: Enhancing Trust and Accountability in Green Finance
23.2.2 Artificial Intelligence: Revolutionizing Green Decision Making and Finance
23.3 Synergies Between Blockchain and AI for Sustainable Financial Solutions
23.3.1 Amplifying Impact through Synergistic Technological Integration
23.4 Transforming Industries: Efficiency, Cost Reduction, and Enhanced Outcomes
23.5 Conclusion
References
About the Editors
Index
Back to Top
Preface
1. Connecting the Unconnected—Taking the Financial Services to the Last Mile Through Digital Infrastructure
C.P. Somasundaran, Mohd. Danish Chishti, Abdullah Bin Junaid and Rakesh Guglani
1.1 Introduction
1.2 Literature Review
1.3 Methodology
1.4 Research Results
1.5 Discussion
1.6 Recommendation
1.7 Conclusion
References
2. Factors Affecting Digital Financial Inclusion in South Asia: What Does Global Findex-2021 Imply?
Jivan Biradar and Antarpreet Kaur Kalra
2.1 Introduction
2.2 Review of Literature
2.2.1 Digital Financial Inclusion: Definition and Conceptual Frameworks
2.2.2 Digital Financial Inclusion and Economic Development
2.2.3 Measuring Financial Inclusion
2.2.4 Challenges to Digital Financial Inclusion
2.2.5 Factors Contributing to Financial Exclusion
2.3 Research Method and Data Sources
2.4 Findings and Analysis
2.4.1 Factors Affecting the Access and Usage of Digital Financial Services in South Asia
2.5 Conclusion
References
3. Predictive Analytics to Reveal the Fintech Transformation via Digital Payments Trends, Experience, and Challenges
Vinoth S. and Gopalakrishnan Chinnasamy
3.1 Introduction
3.2 Literature Review
3.2.1 Fintech Transformation
3.2.2 Fintech Transformation through Digital Payments
3.2.3 Digital Payment Trends
3.2.4 Problems with Digital Payments
3.2.5 Research Gap
3.2.6 Theoretical Underpinnings
3.2.7 Hypothesis of the Study
3.2.8 Objectives of the Study
3.3 Research Methodology
3.3.1 Trends in Digital Payment Adoption
3.3.2 Digital Payment Usage Analysis
3.3.3 Customer Satisfaction Analysis
3.3.4 Challenges Faced by Users
3.3.5 Consumer Expectations Analysis
3.3.6 Comparative Usage and Satisfaction Levels Analysis
3.4 Findings and Conclusion
3.4.1 Findings
3.4.2 Conclusion
3.4.3 Stakeholder Takeaways
3.4.4 Scope for Further Research
References
4. Financial Inclusion Through Digital Means: A Crucial Pathway to Sustainable Development
Jannatul Ferdous
4.1 Introduction
4.2 The Background and Definition of Digital Financial Inclusion
4.3 The Role of Digital Financial Inclusion in Meeting the SDGs
4.3.1 Financial Inclusion and Poverty Reduction (SDG1)
4.3.2 Financial Inclusion and Ending Hunger (SDG2)
4.3.3 Financial Inclusion, Health, and Well-Being (SDG 3)
4.3.4 Financial Inclusion and Quality Education (SDG 4)
4.3.5 Financial Inclusion and Gender Equality (SDG 5)
4.3.6 Financial Inclusion, Clean Water, and Sanitation (SDG 6)
4.3.7 Financial Inclusion, Affordable and Clean Energy (SDG 7)
4.3.8 Financial Inclusion and Economic Growth (SDG 8)
4.3.9 Financial Inclusion and Industry, Innovation, and Infrastructure (SDG 9)
4.3.10 Financial Inclusion and Inequality (SDG 10)
4.3.11 Financial Inclusion and Sustainable Cities and Communities (SDG 11)
4.3.12 Financial Inclusion and Climate Action (SDG 13)
4.3.13 Financial Inclusion and Peace, Justice, and Strong Institutions (SDG 16)
4.4 Conclusion
References
5. Principles and Frameworks for Sustainable Finance: A Pathway to Global Sustainability
Bandna, Priyanka Koundal, Ilias Hussain, Mushtaq Ahmad Shah and Minie Bhalla
5.1 Introduction
5.2 Review of Literature
5.3 Research Methodology
5.3.1 Objective of the Study
5.4 Data Analysis and Discussion
5.4.1 Global and Indian Principles and Frameworks Governing Sustainable Finance
5.4.1.1 Global Principles and Frameworks
5.4.1.2 Indian Principles and Frameworks
5.4.2 Dimensions of Sustainable Investment Impact
5.5 Conclusion
References
6. Nexus of Comprehensive Growth and Development Parameters: A Detailed Analysis Concerning BRICS Countries
Aarti Suryavanshi, Akash Kumar Baikar, Madhu Ruhil and Bijay Prasad Kushwaha
6.1 Introduction
6.2 Literature Review
6.2.1 Growth and Development Parameters Positively Affect the Inclusive Development Performance of Nations
6.2.2 Inclusion
6.2.3 Intergenerational Equity and Sustainability Impacts the Inclusive Development Performance
6.3 Research Methodology
6.4 Data Analysis and Interpretation
6.4.1 Measurement Model: Reliability and Validity
6.4.2 Structural Equation Model
6.5 Discussion
6.6 Implications of the Study
6.7 Conclusion
References
7. Understanding Sustainable Finance: Evaluating Current Frameworks and Potential Policy Risks
Suzan Dsouza
7.1 Introduction
7.2 Sustainable Finance Background: Prevailing Framework Review and Conceptual Explanation
7.2.1 Frameworks Stemming From the Industry
7.2.2 Operational Processes and Labeling Criteria
7.3 Sustainable Finance
7.4 Primary Risks Associated with Defining Sustainable Finance
7.5 Conclusion
References
8. Cryptocurrency and Financial Innovation: Unveiling the Motivators Behind Cryptocurrency Investment Intentions in Malaysia
Mosharrof Hosen, Sia Sui King, Ooi Hui Ting and Hassanudin Bin Mohd Thas Thaker
8.1 Introduction
8.2 Literature Review
8.2.1 Theoretical Foundation and Hypothesis Development
8.2.2 Intention to Use Cryptocurrencies
8.2.3 Government Regulation
8.2.4 Habit
8.2.5 Perceived Risk
8.2.6 Price Value
8.2.7 Social Influence
8.2.8 Trust
8.3 Methodology
8.3.1 Research Design, Sampling Technique, and Data Collection
8.3.2 Measurement
8.3.3 Data Analysis
8.4 Result
8.4.1 Demographic Profile
8.4.2 Reflective Measurement Model Evaluation
8.4.3 Structural Model Evaluation
8.4.4 Discussion of Findings
8.5 Conclusion and Policy Implications
References
9. Reducing the Carbon Footprint of Transactions: The Environmental Impact of Technological Innovation in Finance
Bakir Illahi Dar and Shweta Jaiswal
9.1 Introduction
9.2 Traditional Financial Systems and their Environmental Impact
9.3 Technology Advancement in Finance and Its Impact on the Environment
9.4 Environmental Benefits of Digital Finance
9.5 Understanding the Carbon Footprints in Financial Transactions
9.6 Relationship Between Financial Development and Carbon Emissions
9.7 Challenges in Reducing Carbon Footprint in Financial Activities
9.8 Conclusion
9.9 Policy Implications
References
10. Volatility Spillover Effect of Green Finance with Renewable Energy and Cryptocurrency Market
Jasvinder Kaur, Kamaljit Singh and Amritha L.J.
10.1 Introduction
10.2 Review of Literature
10.3 Data and Methodology
10.3.1 Data
10.3.2 Econometric Model
10.3.2.1 ARCH LM Test
10.3.2.2 Dynamic Conditional Correlation (DCC)
10.4 Empirical Results and Discussion
10.4.1 Descriptive Statistics
10.4.2 DCC Analysis
10.4.2.1 ARCH LM Test
10.4.2.2 DCC-GARCH Estimation
10.5 Conclusions and Recommendations
References
11. Personalization in the FinTech Age: From Mass Marketing to Micro-Targeting
Mohamed Iliyas A. and Praveen Kumar K.
11.1 Introduction
11.2 Fintech and Marketing Evolution
11.3 Micro-Targeting in Fintech
11.3.1 Beyond Demographics: Psychographic Nuances
11.3.1.1 Financial Personalities
11.3.1.2 Examples: Psychographic Targeting at Work
11.3.2 Emerging Technologies and Micro-Targeting
11.3.2.1 Open Banking APIs
11.3.2.2 Artificial Intelligence (AI)
11.3.2.3 Chatbots with Financial Expertise
11.3.3 Ethical Considerations and the Human Touch
11.3.3.1 Explainable AI
11.3.3.2 Human Oversight
11.3.3.3 Focus on Financial Inclusion
11.3.4 Data Sources for Micro-Targeting
11.3.4.1 Transaction Data
11.3.4.2 App Usage
11.3.4.3 Demographics
11.3.4.4 Psychographics
11.4 Benefits of Personalized Marketing
11.5 Financial Inclusion through Personalization
11.6 Ethical Considerations
11.6.1 Informed Consent
11.6.2 Data Privacy and Security
11.6.3 Minimizing Harm and Maximizing Benefits
11.6.4 Fairness and Avoidance of Bias
11.6.5 Transparency and Honesty
11.6.6 Respect for Consumer Autonomy
11.6.7 Compliance with Regulations
11.6.8 Ethical Framework and Industry Integrity
11.7 Technological Advancements
11.7.1 Big Data Analytics
11.7.2 Machine Learning and AI
11.7.3 Blockchain Technology
11.7.4 Mobile Banking and Digital Wallets
11.7.5 Internet of Things (IoT)
11.7.6 Cloud Computing
11.7.7 Chatbots and Virtual Assistants
11.7.8 Ethical Considerations in Technological Advancements
11.7.9 Data Privacy and Security
11.7.10 Bias and Fairness in AI
11.7.11 Informed Consent
11.7.12 Regulatory Compliance
11.8 Practical Implications for Fintech Companies
11.8.1 Enhanced Customer Experience
11.8.1.1 Personalized Financial Products and Services
11.8.1.2 Real-Time Personalization
11.8.2 Optimized Marketing Strategies
11.8.2.1 Targeted Marketing Campaigns
11.8.2.2 Cost-Effective Advertising
11.8.3 Improved Customer Retention and Loyalty
11.8.3.1 Customized Communication
11.8.3.2 Loyalty Programs
11.8.4 Data-Driven Decision Making
11.8.4.1 Customer Insights and Analytics
11.8.4.2 Predictive Analytics
11.8.5 Ethical and Regulatory Compliance
11.8.5.1 Data Privacy and Security
11.8.5.2 Fairness and Bias in AI
11.8.6 Operational Efficiency
11.8.6.1 Automation and Efficiency
11.8.6.2 Scalability
11.9 Benefits of Personalization and Micro-Targeting in Fintech
11.9.1 Enhanced Customer Experience
11.9.2 Optimized Marketing Strategies
11.9.3 Improved Customer Retention and Loyalty
11.9.4 Data-Driven Decision Making
11.9.5 Ethical and Regulatory Compliance
11.9.6 Operational Efficiency
11.10 Implementing Micro-Targeting and Personalization Strategies for Fintech Companies
11.10.1 Invest in Advanced Technologies
11.10.2 Develop Robust Data Privacy Policies
11.10.3 Focus on Ethical AI Practices
11.10.4 Create Personalized Marketing Campaigns
11.10.5 Enhance Customer Engagement through Loyalty Programs
11.10.6 Leverage Data for Continuous Improvement
11.10.7 Ensure Scalability and Efficiency
11.11 Case Studies
11.11.1 Case Study 1: Revolut’s Personalized Financial Services
11.11.1.1 Company Background
11.11.1.2 Enhanced Customer Experience
11.11.1.3 Optimized Marketing Strategies
11.11.1.4 Improved Customer Retention and Loyalty
11.11.1.5 Data-Driven Decision Making
11.11.1.6 Ethical and Regulatory Compliance
11.11.1.7 Operational Efficiency
11.11.2 Case Study 2: Square’s Targeted Marketing for Small Businesses
11.11.2.1 Company Background
11.11.2.2 Enhanced Customer Experience
11.11.2.3 Optimized Marketing Strategies
11.11.2.4 Improved Customer Retention and Loyalty
11.11.2.5 Data-Driven Decision Making
11.11.2.6 Ethical and Regulatory Compliance
11.11.2.7 Operational Efficiency
11.11.3 Case Study 3: PayPal’s Data-Driven Customer Engagement
11.11.3.1 Company Background
11.11.3.2 Enhanced Customer Experience
11.11.3.3 Optimized Marketing Strategies
11.11.3.4 Improved Customer Retention and Loyalty
11.11.3.5 Data-Driven Decision Making
11.11.3.6 Ethical and Regulatory Compliance
11.11.3.7 Operational Efficiency
11.12 Conclusion
References
12. Social Entrepreneurship Program as a Sustainable Business Model to Achieve Financial Inclusion for Poor Families in Indonesia
Badrun Susantyo, Hari Harjanto Setiawan and Abdullah
12.1 Introduction
12.1.1 Definition and Importance of Financial Inclusion
12.1.2 The Role of Social Entrepreneurship in Promoting Financial Inclusion
12.2 The Rationale of the Study
12.2.1 Poor People Receiving Conditional Cash Transfers (CCT)
12.2.2 Social Entrepreneurship Program for Financial Inclusion
12.2.3 Sustainable Business Model for Family Welfare
12.3 Methodology
12.3.1 Population and Sample
12.3.2 Data Collection
12.3.3 Data Analysis
12.4 Results and Discussion
12.4.1 Overview of the Social Entrepreneurship Program
12.4.2 Program Implementation
12.4.2.1 Ability to Access Finance
12.4.2.2 Ability to Manage Assets
12.4.2.3 Sustainable Livelihood Capabilities
12.4.3 Ability to Manage Social Capital and Networking
12.4.4 Impact on the Lives of Beneficiaries
12.5 Conclusion
Acknowledgments
References
13. Bridging the Digital Divide: Leveraging Technological Innovations for Inclusive and Sustainable Finance
Abhijit Ghosh and Ankita Bhatia
13.1 Introduction
13.1.1 Concept of Financial Inclusion
13.1.1.1 Definition, Scope, and Significance
13.1.1.2 Historical Evolution and the Necessity for Sustainable Financial Strategies
13.1.2 The Global Challenge of Financial Exclusion
13.1.2.1 Statistical Overview of the Unbanked and Underbanked Populations
13.1.2.2 Economic and Social Implications of Financial Exclusion
13.1.3 Digital Finance as a Catalyst for Sustainable Development
13.1.3.1 Introduction to Digital Finance and Its Potential for Global Sustainability
13.1.3.2 Role of Financial Innovations in Achieving the Sustainable Development Goals (SDGs)
13.1.4 Objectives and Scope of the Chapter
13.1.4.1 Purpose of the Chapter Within the Context of the Book’s Theme
13.1.4.2 Overview of Areas Covered, Methodologies Used, and Key Questions Addressed
13.2 The Current State of Digital Financial Inclusion
13.2.1 Defining Digital Financial Inclusion
13.2.2 Drivers and Enablers of Digital Finance Adoption
13.2.3 Global Overview of Digital Financial Services
13.3 Sustainable Innovations in Digital Finance
13.3.1 Mobile Banking and Mobile Money
13.3.1.1 Development Trajectory, Current Status, and Impact on Sustainability
13.3.1.2 Case Studies Highlighting Successful Models from Diverse Economies
13.3.2 Peer-to-Peer Lending and Microfinance Platforms
13.3.2.1 Mechanisms, Growth, and Their Contribution to Economic Resilience
13.3.2.2 Exploration of Regulatory Frameworks Ensuring Sustainability and Consumer Protection
13.3.3 Blockchain and Cryptocurrency
13.3.3.1 Applications in Securing Transparent and Low-Cost Remittances
13.3.3.2 Environmental Considerations and Energy-Efficient Blockchain Technologies
13.3.4 Emerging Innovations
13.3.4.1 Digital IDs, InsurTech, and Their Roles in Sustainable Financial Ecosystems
13.4 Overcoming Challenges for Sustainable Digital Financial Inclusion
13.4.1 Infrastructure and Connectivity Challenges
13.4.1.1 Addressing Digital Divide Issues that Impact Financial Access
13.4.1.2 Sustainable Infrastructure Solutions for Remote and Underserved Areas
13.4.2 Trust, Security, and Data Protection
13.4.2.1 Building Trust in Digital Platforms Through Transparent Practices
13.4.2.2 Ensuring Robust Data Protection and Privacy in Digital Financial Services
13.5 Regulatory Frameworks and Policy Implications for Sustainability
13.5.1 National and International Regulatory Landscapes
13.5.1.1 Analysis of Policy Adaptations to Foster Inclusive Financial Technologies
13.5.1.2 Case Studies on Policy Successes and Ongoing Challenges
13.5.2 Balancing Innovation with Sustainability
13.5.2.1 Methods to Sustainable Innovation without Sacrificing the Environment
and Social Righteousness
13.6 Sociocultural Dynamics and Community Engagement
13.6.1 Cultural Adaptation and Financial Behavior
13.6.1.1 How Cultural Perceptions Influence the Adoption of Financial Technologies
13.6.1.2 Community-Led Financial Solutions and Their Sustainability Impacts
13.6.2 Interdisciplinary Insights for Holistic Financial Solutions
13.6.2.1 Contributions from Behavioral Economics, Environmental Science, and Social Research
13.7 Case Studies: Global Successes in Digital Financial Inclusion
13.7.1 Mobile Banking in South Asia
13.7.1.1 Background, Implementation Strategies, and Outcomes
13.7.1.2 Lessons Learned and Key Takeaways
13.7.2 Blockchain for Financial Inclusion in Sub-Saharan Africa
13.7.2.1 Project Overview and Strategic Approaches
13.7.2.2 Evaluation of Impact and Scalability
13.7.3 Additional Global Examples of Noteworthy Projects
13.8 Future Directions and Strategic Recommendations
13.8.1 Anticipating Future Innovations
13.8.2 Crafting Policies for Tomorrow
13.9 Areas for Further Research
13.10 Conclusion
13.10.1 Synthesis of Key Insights
13.10.2 Forward-Looking Perspective
References
14. Customer Acceptance of Sustainable Fintech Innovation: A Study from an Indian Customer Perspective
Pinnika Syam Yadav, P.B. Narendra Kiran, Abhishek Sharma, Rajesh Vemula and Ankitha Shrama
14.1 Introduction
14.2 Literature Review
14.3 Research Methodology
14.4 Results
14.5 Discussion and Conclusion
References
15. Green Finance and Sustainability: Landscape of Indian Financial Institutions
Hridhya P. K., Kavitha Desai, Sriram Ananthan, Thirupathi Manickam, Devaraja Nayaka K. and Joel Jebadurai D.
15.1 Introduction
15.1.1 Definition of Green Finance
15.2 Review of Literature
15.3 Green Finance Instruments
15.3.1 Green Bonds
15.3.2 Green Loans
15.3.3 Green Equity Funds
15.3.4 Green Mortgages and Home Equity Loans
15.3.5 Green Credit Cards
15.3.6 Green Insurance
15.4 Current Landscape of Green Finance in India
15.5 Case Studies
15.5.1 State Bank of India
15.5.2 Punjab National Bank
15.5.3 Bank of Baroda
15.5.4 ICICI Bank
15.5.5 HDFC Bank
15.5.6 Kotak Mahindra Bank
15.6 Regulatory Framework and Government Initiatives
15.6.1 Reserve Bank of India (RBI)
15.6.2 SEBI Regulations
15.6.3 Initiatives by Other Regulators
15.7 Green Taxonomy
15.7.1 India’s Green Taxonomy
15.7.2 Deep Dive into the Indian Green Taxonomy
15.8 Challenges in Green Finance
15.8.1 Standardization and Taxonomy
15.8.2 Lack of Awareness
15.8.3 Regulatory Uncertainties
15.8.4 High Initial Costs
15.8.5 Limited Data and Metrics
15.8.6 Opportunities and Future Directions
15.8.7 Public–Private Partnerships
15.8.8 Innovative Financial Instruments
15.8.9 Capacity Building and Awareness
15.8.10 Policy Support and Regulatory Framework
15.8.11 Access to Finance and De-Risking Mechanisms
15.8.12 International Collaboration and Knowledge Sharing
15.9 Future of Green Finance in India
15.10 Conclusions
References
Blogs and Websites
16. Exploring the Future of Sustainable Finance: Trends, Challenges, and Opportunities
Chandni Keswani and Shyam Sunder Agrawal
16.1 Introduction
16.1.1 Sustainable Finance
16.1.2 Evolution of Sustainable Finance
16.1.3 Elements of Sustainable Finance
16.1.3.1 Socially Responsible Investing
16.1.3.2 Climate Financing
16.1.3.3 Green Financing
16.1.3.4 Carbon Financing
16.1.3.5 Energy Financing
16.1.3.6 Sustainable Financing and Investing
16.1.4 Adoption of Sustainable Finance Policies by G20 and Other Economies
16.2 Review of Literature
16.2.1 Research Gap
16.3 Methodology
16.3.1 Research Questions
16.4 Current Trends in Sustainable Financing
16.5 Role of Artificial Intelligence and Machine Learning in Sustainable Finance
16.5.1 Data Analysis
16.5.2 Risk Assessment
16.5.3 Decision Making
16.6 Challenges in Adopting Sustainable Finance
16.7 Opportunities in Sustainable Financing
16.8 Conclusion
16.9 Implications
References
17. Enhancing Financial Inclusion: The Role of Digital Knowledge and Well-Being in Fintech Use
Priya K.M. and S. Saravanakumar
17.1 Introduction
17.1.1 Importance
17.1.2 Evolution
17.1.3 Technology Acceptance Model
17.1.4 Diffusion of Innovation Theory
17.2 Literature Review and Research Hypotheses
17.2.1 Financial Wellbeing
17.2.2 Fintech Use
17.2.3 Financial Inclusion
17.2.4 Digital Financial Knowledge
17.3 Research Methodology
17.3.1 Target Population, Sampling Procedure, and Data Collection
17.3.2 Common Method Bias
17.3.3 Measures
17.4 Results and Discussion
17.4.1 Demographic Profile of the Respondents
17.4.2 Measurement Model Investigation
17.4.2.1 Reliability and Validity Analysis
17.4.3 Structural Equation Modeling
17.4.3.1 Variation Inflation Factor
17.4.3.2 Discriminant Validity
17.4.3.3 Heterotrait–Monotrait Ratio
17.4.3.4 R Square and Adjusted R Square
17.4.3.5 F Square
17.4.4 Hypothesis Testing and Mediation Analysis Results
17.4.5 Moderation Analysis
17.4.6 Mediation Analysis
17.5 Theoretical Implications
17.6 Managerial Implications
17.7 Conclusion
Author Contribution
Conceptualization
Acknowledgment
References
18. Analyzing the Causal Relationship Between Bitcoin Trade and Environmental Quality in the United States
G. Nwokike Ike, D. Ugochukwu Ike and A. Akhlaghi Mofrad
18.1 Financial Innovations, Bitcoin, and Environmental Quality
18.2 Environmental Effects of Bitcoin Mining: Some Background
18.3 Past Studies: Financial Innovations and Environmental Quality
18.3.1 Bitcoin Trade and Environmental Quality
18.4 Data and Methodology
18.4.1 The Model
18.4.1.1 Granger Causality Based on the Toda–Yamamoto Methodology
18.4.1.2 Time-Varying Granger Causality Test
18.5 Empirical Results
18.6 Conclusion and Policy Implications
18.6.1 Financial Implications
18.6.2 Implications for Renewable Energy Transition
18.6.3 Implications for Energy Efficiency Improvements
18.6.4 Implications for Regulatory Measures
18.6.5 Implications for Carbon Offsetting
18.6.6 Implications for Innovative Mining Practices
18.6.7 Implications for Research and Innovation
18.7 Direction for Future Studies
References
19. SHG Women-Promoted MSMEs’ FinTech Adoption: Impact on Sustainable Financial Performance with Innovation Practices as a Mediator
Ramamurthy Bedaduri, Rajesh Mamilla and K. Reddy Praneeth
19.1 Introduction
19.1.1 About FinTech
19.1.2 Research Questions
19.1.3 Research Objectives
19.2 Review of Literature and Hypotheses Development
19.2.1 Research Framework
19.3 Research Methodology
19.3.1 Research Approach and Design
19.3.2 Questionnaire Design, Scale Measurement of Variables, and Data Description
19.3.3 Sample Size
19.3.4 Statistical Techniques
19.3.5 Data Analysis
19.4 Assessment of Measurement Model
19.4.1 Model Outer Loadings
19.4.2 Construct Reliability and Validity
19.4.3 Discriminant Validity
19.4.4 Respondents’ Demographic Profile
19.4.5 PLS Algorithm Structural Model Assessment
19.4.6 Bootstrapping Models Path Coefficients and Hypothesis Testing
19.5 Analysis Findings and Discussion
19.6 Implications
19.6.1 Managerial Implications
19.6.2 Policy Implications
19.6.3 Social Implications
19.6.4 Practical Implications
19.7 Conclusions
References
20. Environmental, Social, and Governance (ESG) Investing: Pioneering Change for a Sustainable and Resilient Tomorrow
N. Singhal, S. Goyal, M. Khan, T. Singhal and M. Afjal
20.1 Introduction to ESG Investing: Embracing Sustainability in Financial Markets
20.2 Evolution of ESG Investing: Navigating the Evolving Landscape
20.3 Principles of ESG Investing
20.4 What Makes ESG Integration a Game Changer in Investment Decisions
20.4.1 Risk Management
20.4.2 Long-Term Value Creation
20.4.3 Sustainable Competitive Advantage
20.4.4 Resilience and Stability
20.4.5 Regulatory and Supervisory Compliances
20.5 Navigating the ESG Investing: Elements Driving Transformative Changes in Financial Markets
20.5.1 The Investor’s Role
20.5.2 Corporation’s Role
20.5.3 Regulatory Frameworks and Market Governance
20.5.4 ESG Metrics and Financial Analysis
20.5.5 Market Responses to ESG Incidents
20.5.6 Financial Innovation in ESG Products
20.5.7 Stakeholder Activism and Market Influence
20.5.8 Opportunities for Market Transformation
20.6 ESG Integration Frameworks: Sustainable Finance Complexity
20.6.1 The Materiality Assessment Model: Identifying and Prioritizing ESG Factors
20.6.2 Thematic Investing and ESG: Aligning Investments with Global Challenges
20.6.2.1 Recognizing the Interconnectedness of Global Challenges
20.6.2.2 Deep Understanding of Chosen Themes
20.6.2.3 Aligning Investments with Societal Values
20.6.2.4 Capitalizing on Emerging Opportunities
20.6.3 Quantitative ESG Models: Data-Driven Decision Making
20.6.3.1 Scenario Analysis
20.6.3.2 Stress Testing
20.6.4 ESG Rating Agencies: Navigating the Rating Landscape
References
21. AI for Sustainable Finance: Driving Innovation and Ethical Growth
N. Singhal, S. Goyal, M. Khan and T. Singhal
21.1 Introduction
21.2 How Can Artificial Intelligence Advance Sustainable Finance?
21.2.1 ESG Data Analysis and Reporting Framework
21.2.2 Risk Management and ESG Integration
21.2.3 Climate Risk Modeling
21.2.4 Impact Investing
21.2.5 Sustainable Supply Chain Management
21.2.6 Enhanced Reporting and Compliance
21.2.7 Inclusive Development
21.3 AI Technologies in Sustainable Finance
21.3.1 Machine Learning (ML)
21.3.2 Natural Language Processing (NLP)
21.3.3 Robotic Process Automation (RPA)
21.3.4 Predictive Analytics
21.4 Bridging the Perception–Implementation Gap
21.4.1 Education and Training
21.4.2 Collaboration and Partnerships
21.4.3 Proof of Concept
21.4.4 Clear Communication
21.5 Ensuring Ethical Use of AI in Sustainable Finance
21.5.1 Bias and Fairness
21.5.2 Transparency and Explainability
21.5.3 Data Privacy and Security
21.5.4 Regulatory Compliance
21.5.5 Human Oversight
21.5.6 Skill Gaps and Workforce Impact
21.6 Conclusion
References
22. Support Vector Machines in Stock Price Prediction: A Review
Sulaiman Abdullah Saif Alnasser Mohammed
22.1 Introduction
22.1.1 The Literature Gaps
22.2 Methodology
22.2.1 Material
22.2.2 Search Strategy
22.3 Literature Review
22.3.1 Underlining Theories
22.3.2 Structure of Support Vector Machines (SMVs)
22.3.3 Previous Studies on SVM and Stock Price Predictions
22.4 Results and Analysis
22.4.1 Kernel Functions
22.4.2 Parameter Tuning and Optimization
22.4.3 Feature Selection and Engineering
22.4.4 Handling Imbalanced Data
22.4.5 The Integration of External Factors
22.5 The Proposed Hyped Model
22.5.1 Proposing Hybrid-OSVM Model
22.6 Conclusion
22.7 Limitations and Recommendations for Future Research
References
23. Technological Confluence: An In-Depth Analysis of the Nexus Between Blockchain, Artificial Intelligence, and Emerging Technologies in Facilitating Green Financial Solutions
Mohammad Juned and Faisal Usmani
23.1 Introduction
23.1.1 The Symbiotic Relationship Between Finance and Technology for Sustainability
23.1.1.1 The Influence of Technology on Sustainable Investment Practices
23.1.2 Environmental Challenges and Green Finance in the Business Landscape
23.2 Technological Advancements Driving Green Finance Innovation
23.2.1 Blockchain: Enhancing Trust and Accountability in Green Finance
23.2.2 Artificial Intelligence: Revolutionizing Green Decision Making and Finance
23.3 Synergies Between Blockchain and AI for Sustainable Financial Solutions
23.3.1 Amplifying Impact through Synergistic Technological Integration
23.4 Transforming Industries: Efficiency, Cost Reduction, and Enhanced Outcomes
23.5 Conclusion
References
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