Building Trust in Fintech: An Analysis of Ethical and Privacy Considerations in the Intersection of Big Data, AI, and Customer Trust

Hassan H. H. Aldboush () and Marah Ferdous ()
Additional contact information
Hassan H. H. Aldboush: Department of Finance & Banking, Faculty of Business, Philadelphia University, Amman 19392, Jordan
Marah Ferdous: Financial Technology and Accounting Analytics, School of Business Technology, Princess Sumaya University, P.O. Box 1438, Amman 11941, Jordan

IJFS, 2023, vol. 11, issue 3, 1-18

Abstract: This research paper explores the ethical considerations in using financial technology (fintech), focusing on big data, artificial intelligence (AI), and privacy. Using a systematic literature-review methodology, the study identifies ethical and privacy issues related to fintech, including bias, discrimination, privacy, transparency, justice, ownership, and control. The findings emphasize the importance of safeguarding customer data, complying with data protection laws, and promoting corporate digital responsibility. The study provides practical suggestions for companies, including the use of encryption techniques, transparency regarding data collection and usage, the provision of customer opt-out options, and the training of staff on data-protection policies. However, the study is limited by its exclusion of non-English-language studies and the need for additional resources to deepen the findings. To overcome these limitations, future research could expand existing knowledge and collect more comprehensive data to better understand the complex issues examined.

Keywords: fintech; big-data analytics; artificial intelligence (AI); data security and privacy; corporate digital responsibility (CDR); customer trust; ethical considerations (search for similar items in EconPapers)
JEL-codes: F2 F3 F41 F42 G1 G2 G3 (search for similar items in EconPapers)
Date: 2023
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (1)

Downloads: (external link)
https://www.mdpi.com/2227-7072/11/3/90/pdf (application/pdf)
https://www.mdpi.com/2227-7072/11/3/90/ (text/html)

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:gam:jijfss:v:11:y:2023:i:3:p:90-:d:1190429

Access Statistics for this article

IJFS is currently edited by Ms. Hannah Lu

More articles in IJFS from MDPI
Bibliographic data for series maintained by MDPI Indexing Manager ().