PROFESSOR DR. NURUL SHAHNAZ AHMAD MAHDZAN

University of Malaya, Malaysia

Biography: Prof. Dr. Nurul Shahnaz Ahmad Mahdzan is a Professor at the Department of Finance, Faculty of Business and Economics, University of Malaya (UM). She served as the Head of the Department from 2019 to 2023 and is recognized for her expertise in consumer finance, financial literacy, and studies related to the financial services industry. Prof. Shahnaz was a plenary speaker at the Malaysian National Financial Literacy Symposium in 2023 and participated in government-level round-table discussions on youth bankruptcy and financial literacy, contributing to the National Resolution for Financial Literacy in 2023. She has been a guest speaker at various local and international events, sharing insights on consumer finance, investment behaviour, and sustainable finance. Prof. Shahnaz serves as a panel reviewer for the Malaysian Ministry of Higher Education’s Research Grant Schemes and sits on the Board of Advisors of Rezkilah Tech Holdings, an innovative financial education platform in Malaysia, aimed at elevating consumer financial capability. Her research contributions are widely acknowledged, with numerous articles published in esteemed international journals. Currently, her research investigates how digital financial behaviour is shaped across different generations in Malaysia, focusing on its challenges and benefits.

Speech Title:  The Evolution of Fintech: Implications on Consumer Financial Behaviour

Abstract: Over the past decade, financial technology, or fintech, has dramatically transformed the way businesses operate and how consumers manage their finances. Fintech is a key driver of financial inclusion worldwide. This keynote presentation will first explore the evolution of Fintech from its early beginnings to its current state, highlighting major milestones and innovations that have shaped the financial industry while enhancing financial inclusion. Further, insights will be provided on how Fintech has influenced consumer financial behaviour in various areas, such as spending, banking, saving, investing, borrowing, and financial management. Real-world case studies and examples based on empirical studies will illustrate the practical implications and benefits of Fintech on financial decision-making, while also addressing the challenges and risks associated with this rapidly changing landscape. Lastly, emerging trends and future directions for the fintech sector will be discussed, offering insights into how consumers and financial institutions can navigate this dynamic digital era.

Assoc Prof Dr. Liew Chee Yoong

UCSI University, Malaysia, Malaysia

Research Area: Corporate governance, corporate finance, green and sustainable finance, information economics & management, financial innovation & technology

Speech Title:  VaR and market value of Fintech companies: An analysis and evidence from global data

Abstract: 

Purpose – This study aims at determining the portfolio value at risk (VAR) and market value of Fintech firms and compare it with their counterparts.

Design/methodology/approach – By using on a dataset from 46 countries between 2009 and 2018, the authors use five measures of VaR to investigate their empirical dynamics in relation with the market value of Fintech and non-Fintech companies.

Findings – The empirical results indicate that Fintech firms’ portfolios have a higher financial risk and a higher market value in comparison to non-fintech firms’ portfolios. Furthermore, the authors also report that the Fintech firm portfolios experience more financial risk regardless of the holding period as long-term (one year) or short-term (quarter).

Research limitations/implications – There are some limitations in this research. This research does not segregate Fintech firms into their different types of services, such as direct financial investment services, loan provision services, insurance services (InsurTech), etc. The authors only aggregate the Fintech firms by country and region. Future research may consider analysing Fintech firms by differentiating the kind of financial services they offer.

Practical implications – Given the importance of their market value, the results imply that Fintech companies might contribute significantly to financial fluctuations in case of large variations of the market. In terms of policy recommendation, this observation requires a particular attention from the regulatory bodies who need to find the best economic balance between promoting innovation/financial technology and regulating the Fintech companies.

Originality/value – This paper is the first study clarifying the relation of financial risk and market value for the Fintech firms, using the large enough database to obtain significant results. This article implies that Fintech companies require a robust risk management framework.