Selected countries of Eastern and Central Europe in the face of challenges of modern financial technologies (on the example of Robo-Advice)
Krzysztof Waliszewski
University of Economics in PoznańAnna Warchlewska
University of Economics in PoznańAbstrakt
The aim of this article is to diagnose the state of technological advancement in the field of personal finance in Eastern European countries on the example of automated financial advice. The considerations were based on the literature on the subject, and in the empirical part a critical analysis of secondary data from databases was made and the results of research on robo-advice and determinants that may affect the advancement of the use of modern tools in personal finance management were published. Based on the data analysis, it was concluded that technological sophistication in personal finance in the studied countries of Eastern and Central Europe was at a high level, as evidenced by the high concentration of assets and the growing number of robo-advice users.
Słowa kluczowe:
personal finance management, modern financial technologies, robo-advice, open bankingBibliografia
ALIŃSKA, A. (2019), Alternatywne finanse. Warszawa etc. Google Scholar
BAREMBRUCH, A. (2019), Zarządzanie finansami osobistymi. Teoria i praktyka. Gdańsk etc. Google Scholar
BRENNER, L./MEYLL, T. (2020), Robo-Advisors: A substitute for human financial advice? In: Journal of Behavioral and Experimental Finance. 25, 1-8.
Crossref
Google Scholar
CARPENTIER, J. (1996), Konsument i konsumpcja w społeczeństwie postmodernistycznym. Warszawa etc. Google Scholar
Cision (2019), Fibank launched the first open banking platform in Bulgaria fully compliant with the PSD2 Directive. In: https://www.prnewswire.com/news-releases/fibank-launched-the-first-open-banking-platform-in-bulgaria-fully-compliant-with-the-psd2-directive-300965760.html [access: 15 IV 2020]. Google Scholar
Deloitte (2018), Digital Banking Maturity. In: https://www2.deloitte.com/content/dam/Deloitte/global/Documents/About-Deloitte/central-europe/ce-digital-banking-maturity-study-emea.pdf?nc=1 [access:13 IV 2020]. Google Scholar
EBA (2020), Report on financial education 2019/2020. In: https://eba.europa.eu/sites/default/documents/files/document_library/News%20and%20Press/Press%20Room/Press%20Releases/2020/EBA%20identifies%20trends%20and%20lessons%20learned%20in%20financial%20education%20and%20literacy%20initiatives%20in%20its%20second%20Financial%20Education%20Report/EBA%20Financial%20Education%20Report%202019-2020.pdf [access: 14 IV 2020]. Google Scholar
EWE, S. Y./LEE, Ch. K. Ch./WATABE, M. (2020), Prevention focus and prior investment failure in financial decision making. In: Journal of Behavioral and Experimental Finance. 26, 100321
Crossref
Google Scholar
FALOON, M./SCHERER, B. (2017), Individualization of Robo-Advice. In: Journal of Wealth Management. 47, 30-36.
Crossref
Google Scholar
FEIN, M. L. (2015), Robo-Advisors: A Closer Look In: https://papers.ssrn.com/sol3/papers.cfm?abstract_id=2658701 [access: 15 III 2020].
Crossref
Google Scholar
FERNANDES, D./LYNCH, Jr. J. G./NETEMEYER, R.G. (2014), Financial literacy, financial education, and downstream financial behaviours. In: Management Science. 6, 1861-1883.
Crossref
Google Scholar
GRADZI, D. (2018), Third Party Providers (TTP) – nowi dostawcy usług płatniczych w środowisku internetowym i mobilnym. Przegląd regulacji prawnych i analiza możliwych zagrożeń cyberbezpieczeństwa płatniczej infrastruktury krytycznej. In: Przegląd Bezpieczeństwa Wewnętrznego. 19/18, 126-149. Google Scholar
ITZKOWITZ, J./ITZKOWITZ, J. (2017), Name-based behavioral biases: are expert investors immune? In: Journal of Behavioral Finance. 18, 180-188.
Crossref
Google Scholar
KAYA, O. (2017), Robo-advice – a true innovationin asset management. Deutsche Bank Research. Google Scholar
LUSARDI, A./MITCHELL, O. S. (2014), The Economic Importance of Financial Literacy: Theory and Evidence. In: Journal of Economic Literature. 52, 5-44.
Crossref
Google Scholar
MARTÍNEZ, R.G./ROMÁN, M. P./CASADOO, P. P. (2018), Big data Algorithmic trading systems based on investors’ mood. In: Journal of Behavioral Finance. 20, 227-238.
Crossref
Google Scholar
University of Economics in Poznań
University of Economics in Poznań
Inne teksty tego samego autora
- Krzysztof Waliszewski, Socio-economic determinants of financial inclusion in Central and Eastern Europe during the COVID-19 pandemic , Przegląd Wschodnioeuropejski: Tom 14 Nr 1 (2023): Przegląd Wschodnioeuropejski
- Krzysztof Waliszewski, Łukasz Gębski, FinTech lenders on the consumer finance market in Central and Eastern Europe , Przegląd Wschodnioeuropejski: Tom 15 Nr 1 (2024): Przegląd Wschodnioeuropejski
