Please enable JavaScript.
Coggle requires JavaScript to display documents.
CHAPTER 6 : CURRENT ISSUE, getty_what_is_fintech_080220pm_jpg_yvtZYBW2,…
CHAPTER 6 : CURRENT ISSUE
What is Fintech
:question:
any technological innovation in the design or delivery of financial product in services
Financial Technology (fintech)
i:e money transfer using smartphone
Fintech Payment
Payment and E-Wallet dominate the sector
:pen:Scan QR code when purchase
:pen:TNGO (from card to phone mode)
:pen:Function like physical only virtually set in phone
1.What are accounting information systems (AIS)
:question:
AIS serves as a means of collecting, storing, and processing financial data so users can make more informed, well-rounded decisions.
How can AIS add value to an organization
:question:
:lock: giving organizations the option of handling certain business functions internally.
:lock:helps to simplify these operations so they can be performed in house.
:lock:tasks that once required some level of human input can now be done digitally
:star:
Increased cloud migration
easier to access data from virtually anywhere and securely.
:star:
Enhanced reliance on artificial intelligence
i;e navigation apps, music streaming services,
their ease of usage and accuracy
:star:
Greater utilization of the internet
i:e Broadband and other high-speed internet connections help to increase customer engagement and overall satisfaction.
ACCOUNTING TRENDS
:fountain_pen:
Automation and Artificial intelligence
The Cloud-based accounting software continuously strive to automate routines (ie data entry ,invoice)
:fountain_pen:
Cloud Accounting
:
Accountants and other professionals have instant access to their accounting data creating a real-time workflow with increased efficiency saving valuable time.
:fountain_pen:
Data Analytics and Integration
helps identify operational inefficiencies and manage risks better, more businesses will invest in data analytics and help themselves with data-backed decision-making capabilitie
DATA ANALYTIC
help you automatically detect fraud, perform risk analysis, and manage transactions effectively.
Malaysia Overview of Fintech
Pensioner / aging population
comfort of having cash in hand
After Covid-19, started to implement contactless payment
Insurance
:recycle:52% insured
:recycle:lack of awareness about insurance in community
:recycle:ignorance in obtaining insurance and takaful
