• The Journal of Asian Finance, Economics and Business
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• v.9 no.7
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• pp.153-171
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• 2022

To measure economic performance, customer satisfaction indices are constructed. This study proposes an index for banking and telecom, a significant evaluative system for comparing and enhancing customer satisfaction across the industries. The study suggests and examines amendments and improvements to the prior indices and incorporates ignored indicators to propose a punier index for Pakistan. The study is a pioneer in integrating online and offline indices into a single comprehensive model. The study is enriched by the Theory of Reasoned Action and Technological Acceptance Model. A sample of 320 respondents was used. The sample was divided based on gender and marital status. To authenticate the theoretical model, PLS-SEM was applied. We discovered nine latent variables that define customer satisfaction and conclude that a single model can be utilized for e-commerce enterprises as well. The index scores are comparable to the American index for banking and the Turkish index for telecom. Multi-group analysis (MGA) was used to comprehend the differences among the groups. This reveals that customization, design, reliability, and responsiveness induce satisfaction in telecom male and married customers. For the banking industry, the difference exists in complaint handling, customization, corporate image, perceived price, reliability, responsiveness, sentiments, convenience, and security to satisfaction links, image and complaint handling to loyalty links.

• The Journal of Asian Finance, Economics and Business
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• v.9 no.7
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• pp.53-62
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• 2022

Commercial banks have a significant impact on the economy of Vietnam because they provide the majority of transactional capital. Therefore, the operational efficiency of commercial banks is a viral topic for the study of the Vietnamese banking system. The research aims to examine the efficiency and inefficiency of joint-stock commercial banks in Vietnam from 2016 to 2020 and then classify them into the efficient group and inefficient group. The study employs the time series data of 29 joint-stock commercial banks during the period 2016-2020. Based on the data collected from the annual audited financial statements of 29 Vietnamese joint-stock commercial banks, the authors select input and output variables for the standard DEA models and anti-efficient DEA models. This research uses two stages, first, by applying the standard DEA model, we investigate the efficient banks; second, by employing the anti-efficient DEA model, we find out the inefficient banks. The results reveal that the average efficiency score of 29 joint-stock commercial banks tends to increase in the period 2016-2018 and decrease gradually in the period 2019-2020. The findings of this study suggest that several small and medium-sized banks in the Vietnamese banking sector have both promising and risky performances and the efficiency of state-owned commercial banks has also improved significantly during the study period.

• The Journal of Asian Finance, Economics and Business
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• v.7 no.3
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• pp.265-276
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• 2020

The study aims to explore the problems of the existing Shariah Governance Framework (SGF) and its concerned authorities in the context of Bangladesh. Thus, according to responses from 17 respondents, this study outlines that Bangladesh has an absence of a shortage of experts, experienced, knowledgeable, and qualified Shariah people at all levels (i.e., the central bank, Islamic banks, Shariah Supervisory Boards (SSBs), and regulators). Therefore, Bangladesh does not have a separate Islamic banking act, Shariah audit firm, Shariah index institutions, and comprehensive SGF. The existing guideline has a limitation concerning its comprehensiveness, accountability, responsibility, and structure of SSBs. Islamic banks do not follow the instruction of the central bank in the formation of SSBs. As a result, there is an absence of competent and qualified SSB, which also results in the functions of Shariah departments as well as Shariah applications. Usually, the Board of Directors (BOD), management, executives, customers, and the public also have the conceptual gap about Islamic banks, SGF, and banking system compared to the regular prayers, faith, and belief. Concisely, Bangladesh requisites a comprehensive SGF, Islamic banking act, a standard accounting system, and a robust Shariah audit system for the overall development of Islamic banks and SGF.

• Journal of the Korea Academia-Industrial cooperation Society
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• v.16 no.9
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• pp.6282-6289
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• 2015

Today, there is an increasing number of cases in which certificate information is leak, and accordingly, electronic finance frauds are prevailing. As certificate and private key a file-based medium, are easily accessible and duplicated, they are vulnerable to information leaking crimes by cyber-attack using malignant codes such as pharming, phishing and smishing. Therefore, the use of security token and storage toke' has been encouraged as they are much safer medium, but the actual users are only minimal due to the reasons such as the risk of loss, high costs and so on. This thesis, in an effort to solve above-mentioned problems and to complement the shortcomings, proposes a system in which digital signature for Internet banking can be made with a simply bio-authentication process. In conclusion, it was found that the newly proposed system showed a better capability in handling financial transitions in terms of safety and convenience.

• Journal of Digital Convergence
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• v.15 no.6
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• pp.71-82
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• 2017

Most banks in Myanmar have begun to provide their services via mobile phones. However, few studies investigated the factors that may help to set mobile services from a customer perspective. So, this study aims to propose and test a conceptual research model to predict the user's intention to use and actual use level of mobile banking service by combining UTAUT and DeLone-Mclean IS model. Data were collected from 206 citizens who had experienced mobile banking in various regions of Myanmar. The study found that performance expectancy, effort expectancy, information quality and service quality influence the user 's intention to adopt mobile banking services which directly affects the user's actual use of them. However, social influence, facilitating condition and system quality don't influence the user's intention. The study results contribute to meeting customer's needs and reducing customer risk in Myanmar's mobile banking industry, suggesting to seamlessly provide the necessary resources like technology improvements, organizational infrastructure and service centers. Another future study are required to include service's security and trust factors so that the service providers could gain their customers' reliability and trust.

• Journal of the Korea Institute of Information Security & Cryptology
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• v.29 no.6
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• pp.1271-1283
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• 2019

The fourth industrial revolution and digital transformation are also bringing major changes to the financial ecosystem in Korea. Already, global financial firms overseas are opening their financial markets and exploring new financial businesses by seeking ways to co-prosperity with fintech firms. However, it is also true that the domestic financial environment has failed to respond to the changes due to its monopolistic and closed structure. In response, the government began pushing for the introduction of open banking in December 2019 with the aim of fully opening the financial settlement system. However, unlike the existing simple financial transaction structure, open banking still has an unresolved part due to the unclear relationship of responsibilities between interested parties in the event of financial accidents due to the complex linkage structure of transactions such as financial firms, fintech firms and customers. This study analyzed the security threat of open banking in depth. By doing so, the government and financial firms want to present policy proposals that need to be improved to enhance the safety of open banking in korea and protect financial consumers, as well as new financial models that have improved the vulnerable parts of existing models.

• Journal of the Korea Academia-Industrial cooperation Society
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• v.18 no.9
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• pp.251-257
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• 2017

Private banking, which is a part of the financial services industry, is an investment advisory business targeting high-net-worth individuals (HNWIs). The demand for asset management services, which isexpanding in the world market as well as in the Asia-Pacific region, is rapidly increasing in Korea as the low-growth, low-interest environment has stabilized. In Korea, the private banking business is ahead of growth, and the evaluation and compensation system of playing institutions remains a challenge. While the aging of the population increases the demand for services, the increasing competition and regulations have decreased the profit margins in the industry. In this paper, a business model is derived from a professional service quality model. Modular advisory services, value-proposition through sophisticated services, and investment expertise with increased clarity would help wealth management firms pursue their opportunities. By interviewing the experts of wealth management banks, this study constructsa business model with elements derived from a relevant literature review. The contribution of this research is to enable these institutions to understand the key factors affecting their financial performances, in order to improve them. This study is limited by one of the research models, and it will be necessary to conduct an empirical test in the future.

• The Journal of Asian Finance, Economics and Business
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• v.9 no.5
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• pp.273-283
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• 2022

Banking and finance is a broad term that incorporates a variety of smaller, more specialized subjects such as corporate finance, tax finance, and insurance finance. A virtual assistant that assists users in searching for information about banking and finance terms might be an extremely beneficial tool for users. In this study, we explored the process of searching for information, seeking opportunities, and developing a virtual assistant in the first stages of starting learning and understanding Vietnamese to increase effectiveness and save time, which is also an innovative business practice in Use-case Vietnam. We built the FIBA2020 dataset and proposed a pipeline that used Natural Language Processing (NLP) inclusive of Natural Language Understanding (NLU) algorithms to build chatbot applications. The open-source framework RASA is used to implement the system in our study. We aim to improve our model performance by replacing parts of RASA's default tokenizers with Vietnamese tokenizers and experimenting with various language models. The best accuracy we achieved is 86.48% and 70.04% in the ideal condition and worst condition, respectively. Finally, we put our findings into practice by creating an Android virtual assistant application using the model trained using Whitespace tokenizer and the pre-trained language m-BERT.

• The Journal of Asian Finance, Economics and Business
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• v.7 no.2
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• pp.301-308
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• 2020

This study focuses on determining the impacts of organizational culture on the accounting information system and the operational performance of small and medium-sized enterprises in Ho Chi Minh City. The paper is organized in five parts: introduction, literature review, research methodology, research results, and conclusion and policy implications. Based on the samples of 353 respondents working in small and mediumsized enterprises in Ho Chi Minh City, the research employs both qualitative and quantitative methods to find the answers for research questions. Group discussion, which yields final observed variables of the factors of organizational culture is used for qualitative method. Statistics, assessment of the reliability of Cronbach's Alpha scale, exploratory factor analysis (EFA), confirmatory factor analysis (CFA) and structural equation modeling (SEM) are used for quantitative procedure. The results show that mission, involvement and inconsistency in organizational culture positively affect the accounting information system of small and medium-sized firms in Vietnam. In addition, mission, involvement, adaptability and consistency in organizational culture are found to have positive impacts on the firm operational performance. Another finding of the study is that the accounting information system has a positive effect on operational performance of small and medium-sized firms in Vietnam.

• KDI Journal of Economic Policy
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• v.14 no.1
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• pp.89-119
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• 1992

This paper purports to analyze the economic rationale of compensating balance requirements and its impact on money supply. This practice has recently been severely criticized for artificially increasing the money supply and, therefore, limiting the nation's aggregate lending policy under the tight constraint of the given money supply target. A review of the existing literature implies that compensating balance requirements is a banking practice which leads to corrections in the distortion of financial resource allocation due to the imperfection of financial market stemming from asymmetric information and/or financial regulations on deposit and lending rates. Therefore, the economic rationale of this practice is deemed to improve the efficiency of financial resource allocation. On the other hand, the macroeconomic impact of compensating balance requirements on the money supply depends on the impact on the money multiplier, which in turn depends on the desired ratio of deposit that people wish to maintain on the money borrowed from the banking system, and on the desired reserve ratio that the banking system would like to hold for deposit withdrawal. If the compensating balance requirements could increase the desired ratio of deposit to borrowing (bank lending), it will increase the available amount of total reserve within the banking system and, in turn, the money multiplier. However, this channel has not been fully analyzed in the literature, and the direction of the effect is ambiguous. If the practice could reduce the turn-over rate of deposit and, thereby, reduce the desired reserve ratio of the banking system, then it will also increase the money multiplier. While this channel operates unambiguously toward increasing the money multiplier, this effect will be limited by the extent that the banking system holds the excess reserve over the required reserve because the excess reserve will set the maximum amount for the desired reserve to fall. This paper tries to determine the effect on the money supply by empirically estimating the multiplier and the desired ratio of deposit to lending equations as functions of the ratio of compensating balance to the related lending, which is not observable and is estimated for the regression purpose. The results suggest that the effect of compensating balance requirements on the money supply in Korea does not exist or is very tenuous even if it could operate. Therefore, this paper concludes that the well publicized policy of cross cancelling the compensating balance and the related lending will not be effective at controlling the money supply and increasing the amount of loans without expanding the money supply.