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| emerging technologies in banking: The Handbook of Banking Technology Tim Walker, Lucian Morris, 2021-05-24 Competitive advantage in banking comes from effective use of technology The Handbook of Banking Technology provides a blueprint for the future of banking, with deep insight into the technologies at the heart of the industry. The rapid evolution of IT brings continual change and demand for investment — yet keeping pace with these changes has become an essential part of doing business. This book describes how banks can harness the power of current and upcoming technology to add business value and gain a competitive advantage; you'll learn how banks are using technology to drive business today, and which emerging trends are likely to drive the evolution of banking over the next decade. Regulation is playing an ever increasing role in banking and the impact of regulatory change on technology and the management of it are discussed — while mandatory changes put pressure on many of our high street banking brands, their ability to adapt and utilise technology will have a fundamental impact on their success in the rapidly changing marketplace. Technology costs can amount to 15 per cent or more of operational costs and bank leaders need to be able to make informed decisions about technology investments in light of the potential benefits. This book explores the depth and breadth of banking technology to help decision makers stay up to date and drive better business. Assess your current technology against the new banking paradigms Procure the systems needed to protect the bottom line Implement newer technology more efficiently and effectively Ensure compliance and drive value with appropriate technology management Technological change is driven by mass adoption of new channels, innovation from new entrants, and by banks themselves as a means of increasing revenue and reducing costs. The Handbook of Banking Technology offers a comprehensive look at the role of technology in banking, and the impact it will have in the coming years. |
| emerging technologies in banking: Innovative Strategies for Implementing FinTech in Banking Albastaki, Yousif Abdullatif, Razzaque, Anjum, Sarea, Adel M., 2020-08-28 FinTech is encouraging various new practices, such as diminishing the use of cash in different countries, increasing rate of mobile payments, and introducing new algorithms for high-frequency trading across national boundaries. It is paving the way for new technologies emerging in the information technology scene that allow financial service firms to automate existing business processes and offer new products, including crowdfunding or peer-to-peer insurance. These new products cater to hybrid client interaction and customer self-services, changing the ecosystem by increasing outsourcing for focused specialization by resizing and leading to new ecosystems and new regulations for encouraging FinTech. However, such new ecosystems are also accompanied by new challenges. Innovative Strategies for Implementing FinTech in Banking provides emerging research exploring the theoretical and practical aspects of technology inclusion in the financial sector and applications within global financing. It provides a clear direction for the effective implementation of FinTech initiatives/programs for improving banking financial processes, financial organizational learning, and performance excellence. Featuring coverage on a broad range of topics such as artificial intelligence, social financing, and customer satisfaction, this book encourages the management of the financial industry to take a proactive attitude toward FinTech, resulting in a better decision-making capability that will support financial organizations in their journey towards becoming FinTech-based organizations. As such, this book is ideally designed for financial analysts, finance managers, finance administrators, banking professionals, IT consultants, researchers, academics, students, and practitio |
| emerging technologies in banking: Artificial Intelligence in Banking Introbooks, 2020-04-07 In these highly competitive times and with so many technological advancements, it is impossible for any industry to remain isolated and untouched by innovations. In this era of digital economy, the banking sector cannot exist and operate without the various digital tools offered by the ever new innovations happening in the field of Artificial Intelligence (AI) and its sub-set technologies. New technologies have enabled incredible progression in the finance industry. Artificial Intelligence (AI) and Machine Learning (ML) have provided the investors and customers with more innovative tools, new types of financial products and a new potential for growth.According to Cathy Bessant (the Chief Operations and Technology Officer, Bank of America), AI is not just a technology discussion. It is also a discussion about data and how it is used and protected. She says, In a world focused on using AI in new ways, we're focused on using it wisely and responsibly. |
| emerging technologies in banking: Computer Engineering: Concepts, Methodologies, Tools and Applications Management Association, Information Resources, 2011-12-31 This reference is a broad, multi-volume collection of the best recent works published under the umbrella of computer engineering, including perspectives on the fundamental aspects, tools and technologies, methods and design, applications, managerial impact, social/behavioral perspectives, critical issues, and emerging trends in the field--Provided by publisher. |
| emerging technologies in banking: E-Banking and Emerging Multidisciplinary Processes: Social, Economical and Organizational Models Sarlak, Mohammad Ali, Hastiani, Asghar Abolhasani, 2010-08-31 E-Banking and Emerging Multidisciplinary Processes: Social, Economical and Organizational Models advances the knowledge and practice of all facets of electronic banking. This cutting edge publication emphasizes emerging e-banking theories, technologies, strategies, and challenges to stimulate and disseminate information to research, business, and banking communities. It develops a comprehensive framework for e-banking through a multidisciplinary approach, while taking into account the implications it has on traditional banks, businesses, and economies. |
| emerging technologies in banking: Technological Change, Financial Innovation, and Diffusion in Banking W. Scott Frame, 2010-08 Discusses the technological change and financial innovation that commercial banking has experienced during the past 25 years. Describes the role of the financial system in economies and how technological change and financial innovation can improve social welfare. Surveys the literature relating to several specific financial innovations, which are new products or services, production processes, or organizational forms. The past quarter century has been a period of substantial change in terms of banking products, services, and production technologies. Moreover, while much effort has been devoted to understanding the characteristics of users and adopters of financial innovations, we still know little about how and why financial innovations are initially developed. |
| emerging technologies in banking: IIBF X Taxmann's Emerging Technologies – In-depth Exploration of How Emerging Technologies—such as Data Analytics | Big Data | Blockchain | Machine Learning | AI—are Transforming Banking Indian Institute of Banking & Finance, 2024-10-04 This book comprehensively analyses how technology is revolutionising the banking sector, covering key themes like data analytics, big data, blockchain, machine learning, and artificial intelligence. The book examines how these advancements transform traditional banking operations into digital-first processes, enhance customer experience, streamline operations, and improve risk management. It emphasises the significance of data in decision-making and explores big data tools like Hadoop for managing vast datasets. The book also discusses blockchain's role in fostering transparency and security, while machine learning and AI are analysed for their impact on predictive analysis, personalised services, and fraud detection. It is designed as a self-study guide and uses a modular approach to facilitate independent learning, offering practical examples, case studies, and assessment resources for finance professionals, banking practitioners, and students to adapt to the evolving landscape of digital finance. The Present Publication is the 2024 Edition, authored by Mr Burra Butchi Babu | Former General Manager – Bank of India and vetted by Mr V.A. Prasanth | Former General Manager & Chief Information Officer – Indian Bank. Taxmann exclusively publishes this book for the Indian Institute of Banking and Finance for the certificate course on 'Emerging Technologies' with the following noteworthy features: • [Transforming the Banking Paradigm] The book explains how technology drives the banking sector's transformation, transcending geographical limitations and enhancing operational efficiency. By adopting innovations like digital currencies, big data analytics, machine learning, and blockchain, banks are improving customer experience, increasing transparency, and reducing risks. The book explores these changes in great detail, explaining how technological synergies are paving the way for more innovative, faster, and safer banking operations • [Practical Insights into Technological Adoption] Through real-world applications and expert insights, this book offers a practical perspective on how these emerging technologies are integrated into the banking ecosystem. It discusses how the fusion of finance and technology has fostered new opportunities for growth while addressing the challenges of data security, privacy, and ethical responsibility. Readers are guided to think critically about how these advancements balance the convenience of seamless transactions with the imperative to protect financial identities and safeguard sensitive data • [Comprehensive Coverage through a Modular Approach] To ensure a thorough understanding, the book is structured modularly, covering specific technological areas and their applications in banking. Each module breaks down complex concepts into digestible sections, providing readers with a coherent learning pathway. From the fundamentals of data analytics to the nuanced intricacies of artificial intelligence, the book offers in-depth discussions designed to equip learners with the practical skills necessary for thriving in a technology-driven financial environment • [Self-Learning Resources & Assessment Tools] The book is enriched with self-assessment resources such as multiple-choice questions, terminal questions, and comprehensive summaries, allowing readers to test their knowledge and reinforce their understanding. Every module is carefully structured with learning objectives, chapter overviews, keywords, and references, making it a holistic educational tool. The inclusion of practical examples, case studies, and exercises enhances its relevance for both academic and professional learning environments The book adopts a modular approach, ensuring a coherent and logical flow of content across its four modules, which are as follows: • Module A – Data Analytics o This module is a foundational entry point into data analytics, a key driver of decision-making in modern banking. It introduces emerging technological trends within banks, discussing data extraction, analysis, and visualisation. The module explains the various types of analytics (descriptive, diagnostic, predictive, and prescriptive) and how they extract actionable insights for better financial decision-making. Moreover, the section on immersive technologies such as Augmented Reality (AR), Virtual Reality (VR), and Mixed Reality (MR) highlights their role in enhancing customer interactions and operational processes • Module B – Big Data & Hadoop o Big data is a critical component of modern banking and is explored extensively in this module. It discusses how vast datasets are collected, processed, and analysed, enabling banks to make informed decisions, understand customer behaviour, and detect market trends. The module covers topics like Hadoop's ecosystem and architecture, NoSQL databases, and real-life examples showcasing the role of big data in optimising banking processes. It dives into methods for handling large-scale data efficiently and how these insights lead to personalised customer services, risk assessment, and better regulatory compliance • Module C – Blockchain & Digital Currencies o Blockchain is redefining trust and transparency in financial transactions. This module provides an elaborate overview of blockchain, including its types, key features, consensus mechanisms, and transaction flow. The section discusses the rise of digital currencies like Bitcoin and their influence on global finance, highlighting the decentralised nature of blockchain technology and its role in securing financial transactions. It also examines how smart contracts, interoperability, and distributed ledger technology are being implemented in banking to reduce fraud, automate processes, and facilitate seamless cross-border payments • Module D – Machine Learning (ML) in Banking o Machine learning, a cornerstone of artificial intelligence, transforms how banks predict trends, personalise services, and detect fraud. This module introduces the concepts and types of machine learning, covering supervised, unsupervised, and reinforcement learning. Readers are guided through different stages of machine learning, the categorisation of algorithms, and practical examples of how banks use ML for predictive analysis, customer segmentation, credit scoring, and more. It also explores the future trajectory of ML in financial services and its potential to reshape the industry • Module E – Artificial Intelligence (AI) o Artificial Intelligence (AI) has become integral to modernising financial services. This module covers the basics of AI, discussing neural networks, deep learning, natural language processing, and text classification. It examines the architectural framework of neural networks, the role of deep belief networks (DBNs), and generative adversarial networks (GANs) in financial modelling. The book explains the real-world applications of AI, such as chatbots, virtual assistants, fraud detection, automated underwriting, and risk assessment, demonstrating how AI is improving efficiency and customer service in the banking sector. • Emerging Technologies –IoT & Robotic Process Automation (RPA) o Supplementary chapters discuss the Internet of Things (IoT) and Robotic Process Automation (RPA) and their impact on the financial world. By enabling interconnected banking solutions, readers will learn how IoT devices enhance customer experiences. Meanwhile, RPA's role in automating repetitive tasks, reducing manual errors, and increasing operational efficiency is explored, alongside the ethical and practical implications of hyper-automation in banking |
| emerging technologies in banking: Emerging Technologies for Emerging Markets John Vong, Insu Song, 2016-10-06 This book introduces inclusive-cost-effective (ICE) approaches that have the potential to transform all aspects of daily lives of people at the base of the pyramid in the economic scale, who represent more than 75% of the world population. ICE means that the approaches must meet the affordability level at the base of the pyramid. This includes mobile banking and financial service technologies, mobile education, rural information and communication technologies, telemedicine, e-Health, and health social networks. This monograph is a compulsory reading for not only technology innovators, but also economists, social entrepreneurs, development specialists, health specialists, bankers and researchers and policy thinkers on technology and economic development. |
| emerging technologies in banking: Powering the Digital Economy: Opportunities and Risks of Artificial Intelligence in Finance El Bachir Boukherouaa, Mr. Ghiath Shabsigh, Khaled AlAjmi, Jose Deodoro, Aquiles Farias, Ebru S Iskender, Mr. Alin T Mirestean, Rangachary Ravikumar, 2021-10-22 This paper discusses the impact of the rapid adoption of artificial intelligence (AI) and machine learning (ML) in the financial sector. It highlights the benefits these technologies bring in terms of financial deepening and efficiency, while raising concerns about its potential in widening the digital divide between advanced and developing economies. The paper advances the discussion on the impact of this technology by distilling and categorizing the unique risks that it could pose to the integrity and stability of the financial system, policy challenges, and potential regulatory approaches. The evolving nature of this technology and its application in finance means that the full extent of its strengths and weaknesses is yet to be fully understood. Given the risk of unexpected pitfalls, countries will need to strengthen prudential oversight. |
| emerging technologies in banking: Banking 5.0 Bernardo Nicoletti, 2021-07-06 Bill Gates’ quote, “Banking is necessary, but banks are not,” showcases the opportunity for financial services digital transformation. The next transition from industry 4.0 to 5.0 will impact all sectors, including banking. It will combine information technology and automation, based on artificial intelligence, person-robot collaboration, and sustainability. It is time to analyze this transformation in banking deeply, so that the sector can adequately change to the ‘New Normal’ and a wholly modified banking model can be properly embedded in the business. This book presents a conceptual model of banking 5.0, detailing its implementation in processes, platforms, people, and partnerships of financial services organizations companies. The last part of the book is then dedicated to future developments. Of interest to academics, researchers, and professionals in banking, financial technology, and financial services, this book also includes business cases in financial services. |
| emerging technologies in banking: Bank 4.0 Brett King, 2018-12-17 Winner of best book by a foreign author (2019) at the Business Book of the Year Award organised by PwC Russia The future of banking is already here — are you ready? Bank 4.0 explores the radical transformation already taking place in banking, and follows it to its logical conclusion. What will banking look like in 30 years? 50 years? The world’s best banks have been forced to adapt to changing consumer behaviors; regulators are rethinking friction, licensing and regulation; Fintech start-ups and tech giants are redefining how banking fits in the daily life of consumers. To survive, banks are having to develop new capabilities, new jobs and new skills. The future of banking is not just about new thinking around value stores, payment and credit utility — it's embedded in voice-based smart assistants like Alexa and Siri and soon smart glasses which will guide you on daily spending and money decisions. The coming Bank 4.0 era is one where either your bank is embedded in your world via tech, or it no longer exists. In this final volume in Brett King's BANK series, we explore the future of banks amidst the evolution of technology and discover a revolution already at work. From re-engineered banking systems, to selfie-pay and self-driving cars, Bank 4.0 proves that we're not on Wall Street anymore. Bank 4.0 will help you: Understand the historical precedents that flag a fundamental rethinking in banking Discover low-friction, technology experiences that undermine the products we sell today Think through the evolution of identity, value and assets as cash and cards become obsolete Learn how Fintech and tech disruptors are using behaviour, psychology and technology to reshape the economics of banking Examine the ways in which blockchain, A.I., augmented reality and other leading-edge tech are the real building blocks of the future of banking systems If you look at individual technologies or startups disrupting the space, you might miss the biggest signposts to the future and you might also miss that most of we've learned about banking the last 700 years just isn't useful. When the biggest bank in the world isn't any of the names you'd expect, when branch networks are a burden not an asset, and when advice is the domain of Artificial Intelligence, we may very well have to start from scratch. Bank 4.0 takes you to a world where banking will be instant, smart and ubiquitous, and where you'll have to adapt faster than ever before just to survive. Welcome to the future. |
| emerging technologies in banking: The AI Book Ivana Bartoletti, Anne Leslie, Shân M. Millie, 2020-06-29 Written by prominent thought leaders in the global fintech space, The AI Book aggregates diverse expertise into a single, informative volume and explains what artifical intelligence really means and how it can be used across financial services today. Key industry developments are explained in detail, and critical insights from cutting-edge practitioners offer first-hand information and lessons learned. Coverage includes: · Understanding the AI Portfolio: from machine learning to chatbots, to natural language processing (NLP); a deep dive into the Machine Intelligence Landscape; essentials on core technologies, rethinking enterprise, rethinking industries, rethinking humans; quantum computing and next-generation AI · AI experimentation and embedded usage, and the change in business model, value proposition, organisation, customer and co-worker experiences in today’s Financial Services Industry · The future state of financial services and capital markets – what’s next for the real-world implementation of AITech? · The innovating customer – users are not waiting for the financial services industry to work out how AI can re-shape their sector, profitability and competitiveness · Boardroom issues created and magnified by AI trends, including conduct, regulation & oversight in an algo-driven world, cybersecurity, diversity & inclusion, data privacy, the ‘unbundled corporation’ & the future of work, social responsibility, sustainability, and the new leadership imperatives · Ethical considerations of deploying Al solutions and why explainable Al is so important |
| emerging technologies in banking: The Digital Banking Revolution Luigi Wewege, Michael C. Thomsett, 2019-12-02 Emergent innovative financial technologies are profoundly changing the way in which we spend, move and manage our money, unlike ever before, and traditional retail banks are facing stiff competition. The global financial crisis in 2007–2009 led to large losses, and even the collapse of a significant number of established banks shaking the trust of financial customers worldwide. The Digital Banking Revolution is an insightful look at how financial technology and the rapid rise of financial technology companies have brought welcome changes offering flexibility to the banking industry. The book offers a unique perspective on the consumerization of retail banking services. It delves into the many changes that financial innovations have brought about in banking, the main financial disruptors, the new era of banking on the go, and financial innovations from countries around the world before concluding with a discussion on the future of banking including optimizing structures, new strategies for business outcomes, and human resources in the digital era. |
| emerging technologies in banking: Stay Competitive in the Digital Age: The Future of Banks MissEstelle X Liu, 2021-02-19 The latest advancement in financial technology has posed unprecedented challenges for incumbent banks. This paper analyzes the implications of these challenges on bank competitveness, and explores the factors that could support digital advancement in banks. The analysis shows that the traditionally leading role of banks in advancing financial technology has diminished in recent years, and suggests that onoing efforts to catch up to the digital frontier could lead to a more concentrated banking industry, as smaller and less tech-savvy banks struggle to survive. Cross-country evidence has suggested that banks in high-income economies appear to have been the digital leaders, likely benefiting from a sound digital infrastructure, a strong legal and business environment, and healthy competition. Nonetheless, some digital leaders may fall behind in the coming years in adopting newer technologies due to entrenched consumer behavior favoring older technologies, less active fintech and bigtech companies, and weak bank balance sheets. |
| emerging technologies in banking: Handbook of Research on Innovative Management Using AI in Industry 5.0 Garg, Vikas, Goel, Richa, 2021-11-19 There is no industry left where artificial intelligence is not used in some capacity. The application of this technology has already stretched across a multitude of domains including law and policy; it will soon permeate areas beyond anyone’s imagination. Technology giants such as Google, Apple, and Facebook are already investing their money, effort, and time toward integrating artificial intelligence. As this technology continues to develop and expand, it is critical for everyone to understand the various applications of artificial intelligence and its full potential. The Handbook of Research on Innovative Management Using AI in Industry 5.0 uncovers new and innovative features of artificial intelligence and how it can help in raising economic efficiency at both micro and macro levels and provides a deeper understanding of the relevant aspects of artificial intelligence impacting efficacy for better output. Covering topics such as consumer behavior, information technology, and personalized banking, it is an ideal resource for researchers, academicians, policymakers, business professionals, companies, and students. |
| emerging technologies in banking: The Technological Revolution in Financial Services Michael R. King, Richard W. Nesbitt, 2020-08-26 The financial services industry is being transformed by heightened regulation, technological disruption, and changing demographics. These structural forces have lowered barriers to entry, increasing competition from within and outside the industry, in the form of entrepreneurial fintech start-ups to large, non-financial technology-based companies. The Technological Revolution in Financial Services is an invaluable resource for those eager to understand the evolving financial industry. This edited volume outlines the strategic implications for financial services firms in North America, Europe, and other advanced economies. The most successful banks, insurance companies, and asset managers will partner with financial technology companies to provide a better and more innovative experience services to retail customers and small businesses. Ultimately this technological revolution will benefit customers and lead to a more open and inclusive financial system. |
| emerging technologies in banking: Emerging Technologies for Emerging Markets John Vong, Insu Song, 2014-12-27 This book introduces inclusive-cost-effective (ICE) approaches that have the potential to transform all aspects of daily lives of people at the base of the pyramid in the economic scale, who represent more than 75% of the world population. ICE means that the approaches must meet the affordability level at the base of the pyramid. This includes mobile banking and financial service technologies, mobile education, rural information and communication technologies, telemedicine, e-Health, and health social networks. This monograph is a compulsory reading for not only technology innovators, but also economists, social entrepreneurs, development specialists, health specialists, bankers and researchers and policy thinkers on technology and economic development. |
| emerging technologies in banking: Industry 5.0 and Emerging Technologies Aziza Chakir, |
| emerging technologies in banking: The Global Findex Database 2017 Asli Demirguc-Kunt, Leora Klapper, Dorothe Singer, Saniya Ansar, 2018-04-19 In 2011 the World Bank—with funding from the Bill and Melinda Gates Foundation—launched the Global Findex database, the world's most comprehensive data set on how adults save, borrow, make payments, and manage risk. Drawing on survey data collected in collaboration with Gallup, Inc., the Global Findex database covers more than 140 economies around the world. The initial survey round was followed by a second one in 2014 and by a third in 2017. Compiled using nationally representative surveys of more than 150,000 adults age 15 and above in over 140 economies, The Global Findex Database 2017: Measuring Financial Inclusion and the Fintech Revolution includes updated indicators on access to and use of formal and informal financial services. It has additional data on the use of financial technology (or fintech), including the use of mobile phones and the Internet to conduct financial transactions. The data reveal opportunities to expand access to financial services among people who do not have an account—the unbanked—as well as to promote greater use of digital financial services among those who do have an account. The Global Findex database has become a mainstay of global efforts to promote financial inclusion. In addition to being widely cited by scholars and development practitioners, Global Findex data are used to track progress toward the World Bank goal of Universal Financial Access by 2020 and the United Nations Sustainable Development Goals. The database, the full text of the report, and the underlying country-level data for all figures—along with the questionnaire, the survey methodology, and other relevant materials—are available at www.worldbank.org/globalfindex. |
| emerging technologies in banking: Wharton on Managing Emerging Technologies George S. Day, Paul J. H. Schoemaker, 2004-08-20 Manager in allen Branchen werden mit dem Thema neue, zukunftsweisende Technologien konfrontiert. Hierher gehören nicht nur elektronische Technologien, sondern jede neue Technologie, die in der Lage ist, neue Industriezweige zu schaffen oder bestehende zu verändern. Diese Technologien sind ein neues Spiel, dessen Regeln unvereinbar sind mit Kultur und Geschäftsmethoden der meisten etablierten Unternehmen. Das erste Buch auf dem Markt, das sich mit diesem wichtigen Thema gezielt auseinandersetzt. Ein interdisziplinäres Expertenteam der Wharton School erläutert, wie Geschäftspraktiken geändert werden müssen, um Innovationen wie der Biotechnologie, der Informationstechnologie und dem Internet zu begegnen. Darüber hinaus wird diskutiert, wie Manager ihre Methoden zur Finanzanalyse, Markteinschätzung und zur Wettbewerbsstrategie ändern müssen, und wie etablierte Firmen künftig die gängigen Fehler im Zusammenhang mit neuen Technologien vermeiden können. |
| emerging technologies in banking: Disruptive Technology and Digital Transformation for Business and Government Sandhu, Kamaljeet, 2021-05-07 With the far-reaching global impact of the COVID-19 pandemic, the demand and the necessity for digital enterprise transformation have accelerated exponentially. Management and strategies for the adoption and wider usage of newer digital technologies for the transformation of an enterprise through digital tools such as real-time video communications have shown that people no longer need to be required to be physically present in the same place; rather, they can be geographically dispersed. Technologies such as artificial intelligence, cloud computing, digital banking, and cloud data have taken over tasks that were initially done by human hands and have increased both the automation and efficiency of tasks and the accessibility of information and services. Inclusion of all these newer technologies has shown the fast pace at which the digital enterprise transformation is rapidly evolving and how new ecosystems are reshaping the digital enterprise model. Disruptive Technology and Digital Transformation for Business and Government presents interesting research on digital enterprise transformation at different stages and across different settings within government and industry, along with key issues and deeper insights on the core problems and developing solutions and recommendations for digital enterprise transformation. The chapters examine the three core leaders of transformation: the people such as managers, employees, and customers; the digital technology such as artificial intelligence and robotics; and the digital enterprise, including the products and services being transformed. They unravel the underlying process for management and strategies to fully incorporate new digital tools and technologies across all aspects of an enterprise undergoing transformation. This book is ideally intended for managers, executives, IT consultants, business professionals, government officials, researchers, students, practitioners, stakeholders, academicians, and anyone else looking to learn about new developments in digital enterprise transformation of business systems from a global perspective. |
| emerging technologies in banking: Emerging Trends in Banking and Management Dr.S.Packiaraji, |
| emerging technologies in banking: Emerging Trends in Banking and Finance Nesrin Ozatac, Korhan K. Gökmenoglu, 2018-10-26 This volume presents current developments in the fields of banking and finance from an international perspective. Featuring contributions from the 3rd International Conference on Banking and Finance Perspectives (ICBFP), this volume serves as a valuable forum for discussing current issues and trends in the banking and financial sectors, especially in light of the global economic challenges triggered by financial institutions. Using the latest theoretical models, new perspectives are brought to topics such as e-finance and e-banking, Islamic banking, capital flight, bank efficiency, risk assessment, bankruptcy, investment diversification, and insider trading. Offering an opportunity to explore the challenges of a rapidly changing industry, this volume will be of interest to academics, policy makers, and scholars in the fields of banking, insurance, and finance. |
| emerging technologies in banking: Banks and Fintech on Platform Economies Paolo Sironi, 2021-11-22 Discover the future of the financial services industry with this insightful new resource on Contextual and Conscious Banking In Banks and Fintech on Platform Economies: Contextual and Conscious Banking, accomplished fintech professional and author Paolo Sironi delivers an insightful examination of how platform theory, born outside of financial services, will make its way inside banking and financial markets to radically transform the way firms do business. You’ll learn why the financial services industry must master the necessary shift of focus from selling business outputs to selling client outcomes. You’ll also discover how to steer the industry towards new forms of digital transformation underpinned by Contextual Banking and Conscious Banking platform strategies that will benefit stakeholders of all kinds. This important book: Describes the shift in mindset necessary to help banks strengthen and extend the reach of their Banking-as-a-Service and Banking-as-a-Platform operations. Shows how a renewed interpretation of fundamental uncertainty inspires the usage of exponential technologies to achieve architectural resilience, and open the reference theory to spring new business models centered on clients’ and ecosystems’ antifragility. Financial services industry can break-out from a narrow space of value-generation to reclaim top spot against bigtech contenders, enjoying greater flexibility and adaptability at lower digital costs Perfect for CEOs, business leaders, regulators, fintech entrepreneurs, wealth managers, behavioral finance researchers and professionals working at financial technology companies, Banks and Fintech on Platform Economieswill also earn a place in the libraries of bankers seeking a firm grasp of the rapidly evolving outcome economy and a view about the future of the industry. |
| emerging technologies in banking: E-collaboration Technologies and Strategies for Competitive Advantage Amid Challenging Times Jingyuan Zhao, Joseph Richards, 2021 The book is focused on e-collaboration technologies, strategies and solutions for organizational competitive advantage and assesses the importance of E-collaboration technologies, strategies and solutions in dealing with emerging crisis such as unpredicted pandemic diseases like COVID -19-- |
| emerging technologies in banking: Electronic Payment Systems Edward A. Morse, 2018 This guide explores innovations and the legal and technological questions presented in the banking and payment systems industry. Written by experts in the field, this book provides a topical discussion of the principal electronic payment systems utilized today and how they are ever changing to keep current with changes in technology. |
| emerging technologies in banking: Fintech International Monetary Fund, World Bank, 2019-06-27 The paper finds that while there are important regional and national differences, countries are broadly embracing the opportunities of fintech to boost economic growth and inclusion, while balancing risks to stability and integrity. |
| emerging technologies in banking: The Future of Banking Thorsten Beck, 2011 Banking is back in the headlines. From desperate efforts by governments to address the Eurozone crisis to the Occupy Wall Street movement that is currently spreading across the globe, banks are again at centre stage. This new VoxEU.org book presents a collection of essays by leading European and US economists that provide solutions to the financial crisis and proposals for medium- to long-term reforms to the regulatory framework in which financial institutions operate. Key proposals include: -- European Safe Bonds (ESBies): Critical of Eurobonds, the authors propose an alternative solution in the form of European Safe Bonds (ESBies) -- securities funded by currently outstanding government debt (up to 60\% of GDP) that would constitute a large pool of safe assets. The authors argue that ESBies would address both liquidity and solvency problems within the European banking system and, most critically, help to distinguish between the two. -- Capital and liquidity requirements -- risk weights are crucial: While ringfencing might be part of a sensible regulatory reform, it is not sufficient. Capital requirements with risk weights that are dynamic, counter-cyclical and take into account co-dependence of financial institutions are critical, and one size does not necessarily fit all. Similarly, liquidity requirements have to be adjusted to make them less rigid and pro-cyclical. While banks are currently under-taxed, the currently discussed financial transaction tax would not significantly affect banks' risk-taking behaviour and might actually increase market volatility; in addition, its revenue potential could also be overestimated. -- The need for a stronger European-wide regulatory framework: If the common European market in banking is to be saved -- and the authors argue that it should be -- then the geographic perimeter of banks has to be matched with a similar geographic perimeter in regulation, which ultimately requires stronger European-level institutions. |
| emerging technologies in banking: The PAYTECH Book Susanne Chishti, Tony Craddock, Robert Courtneidge, Markos Zachariadis, 2020-02-18 The only globally-crowdsourced book on the future of payments (“PayTech”), offering comprehensive understanding of a rapidly evolving industry at the centre of global commerce The movement of money between individuals, organisations and governments is crucial to the world economy. The payments industry has undergone immense transformation – new regulations, technologies and consumer demands have prompted significant changes to the tools, products and use cases in payments, as well as presented lucrative opportunities for entrepreneurs and FinTech professionals. As payment technologies become faster and more efficient, companies and investors are increasingly favouring PayTech innovation due to better customer experience, increased revenues and manageable risks. The PAYTECH Book brings together a diverse collection of industry experts to provide entrepreneurs, financial services professionals and investors with the answers they need to capitalise on the highly profitable PayTech market. Written by leaders in the global FinTech and payment sectors, this informative volume explains key industry developments and presents valuable first-hand insights from prominent industry practitioners. Contributors include advisors and consultants to the payments and financial services industry, entrepreneurs and business owners utilising cutting-edge PayTech capabilities, academic researchers exploring the social-political-economic impact of PayTech and many others. Detailed chapters cover essential topics such as cybersecurity, regulation and compliance, wholesale payments and how payment systems currently work and how PayTech can improve them. This book: Defines PayTech and identifies its key players Discusses how PayTech can transform developed markets and accelerate growth in emerging economies Describes how PayTech fits into the larger FinTech ecosystem Explores the future of PayTech and its potential as an agent of social change and financial inclusion Provides diverse perspectives on investment in PayTech and what consolidation and expansion will look like The PAYTECH Book: The Payment Technology Handbook for Investors, Entrepreneurs and FinTech Visionaries is an indispensable source of information for FinTech investors and entrepreneurs, managers from payments companies and financial services firms and executives responsible for payments in government, corporations, public sector organisations, retailers and users of payments. |
| emerging technologies in banking: Keeping Pace with Change: Fintech and the Evolution of Commercial Law International Monetary Fund, Jose Garrido, 2022-01-27 This note explores the interactions between new technologies with key areas of commercial law and potential legal changes to respond to new developments in technology and businesses. Inspired by the Bali Fintech Agenda, this note argues that country authorities need to closely examine the adequacy of their legal frameworks to accommodate the use of new technologies and implement necessary legal reform so as to reap the benefits of fintech while mitigating risks. Given the cross-border nature of new technologies, international cooperation among all relevant stakeholders is critical. The note is structured as follows: Section II describes the relations between technology, business, and law, Section III discusses the nature and functions of commercial law; Section IV provides a brief overview of developments in fintech; Section V examines the interaction between technology and commercial law; and Section VI concludes with a preliminary agenda for legal reform to accommodate the use of new technologies. |
| emerging technologies in banking: Application of Emerging Technologies Tareq Ahram and Waldemar Karwowski, 2023-12-04 Proceedings of the AHFE International Conference on Human Factors in Design, Engineering, and Computing (AHFE 2023 Hawaii Edition), Honolulu, Hawaii, USA 4-6, December 2023 |
| emerging technologies in banking: Research Anthology on Concepts, Applications, and Challenges of FinTech Management Association, Information Resources, 2021-02-05 FinTech, an abbreviated term for financial technology, is a digital revolution changing the way banking and financial services are being used both by individuals and businesses. As these changes continue to take place, the financial industry is focused on technological innovation and feeding into this digital revolution to better serve consumers who are looking for easier ways to invest, transfer money, use banking services, and more. FinTech is increasing accessibility to financial services, automating these services, expanding financial options, and enabling online payments and banking. While the benefits are being continually seen and this technology is becoming more widely accepted, there are still challenges facing the technology that include security concerns. To understand FinTech and its role in society, both the benefits and challenges must be reviewed and discussed for a holistic view on the digital innovations changing the face of the financial industry. The Research Anthology on Concepts, Applications, and Challenges of FinTech covers the latest technologies in FinTech with a comprehensive view of the impact on the industry, where these technologies are implemented, how they are improving financial services, and the security applications and challenges being faced. The chapters cover the options FinTech has unlocked, such as mobile banking and virtual transactions, while also focusing on the workings of the technology itself and security applications, such as blockchain and cryptocurrency. This book is a valuable reference tool for accountants, bankers, financial planners, financial analysts, business managers, economists, computer scientists, academicians, researchers, financial professionals, and students. |
| emerging technologies in banking: Digital Bank: Strategies to launch or become a digital bank Chris Skinner, 2014-05-15 Digital Bank tracks the innovations in banking and how the mobile internet is changing the dynamics of consumer and corporate relationships with their banks. The implication is that banks must become digitised, and that is a challenge as becoming a Digital Bank demands new services focused upon 21st-century technologies. Digital Bank not only includes extensive guidance and background on the digital revolution in banking, but also in-depth analysis of the activities of incumbent banks such as Barclays in the UK and mBank in Poland, as well as new start-ups such as Metro Bank and disruptive new models of banking such as FIDOR Bank in Germany. Add on to these a comprehensive sprinkling of completely new models of finance, such as Zopa and Bitcoin, and you can see that this book is a must-have for anyone involved in the future of business, commerce and banking. Chris Skinner is best known as an independent commentator on the financial markets through the Finanser (www.thefinanser.com) and Chair of the European networking forum The Financial Services Club, which he founded in 2004. He is the author of ten books covering everything from European regulations in banking through the credit crisis to the future of banking, and is a regular commentator on BBC News, Sky News and Bloomberg about banking issues. More can be discovered about Chris here: http://thefinanser.co.uk/fsclub/chris-skinner/ |
| emerging technologies in banking: Banking Beyond Banks and Money Paolo Tasca, Tomaso Aste, Loriana Pelizzon, Nicolas Perony, 2016-09-01 Do you know how banking and money will look like in the new digital age? This book collects the voices of leading scholars, entrepreneurs, policy makers and consultants who, through their expertise and keen analytical skills, are best positioned to picture from various angles the ongoing technological revolution in banking and finance. You will learn how lending and borrowing can exist without banks; how new forms of money can compete to better serve different society needs; how new technologies are banking the unbanked communities in the poorest parts of the world, and how ideas and small projects can be financed by the crowds without the need to rely upon banks. You will learn how, in the new digital age, we will interact with new self-organised and autonomous companies that operate without any human involvement, based on a set of programmed and incorruptible rules. You will learn that new business models will emerge thanks to technology-enabled platforms, upon which one can build new forms of non-hierarchical cooperation between strangers. And you will also learn that new forms of risks and threats are emerging that will destabilise our systems and jeopardise the stability of our financial order. |
| emerging technologies in banking: Disrupting Finance Theo Lynn, John G. Mooney, Pierangelo Rosati, Mark Cummins, 2018-12-06 This open access Pivot demonstrates how a variety of technologies act as innovation catalysts within the banking and financial services sector. Traditional banks and financial services are under increasing competition from global IT companies such as Google, Apple, Amazon and PayPal whilst facing pressure from investors to reduce costs, increase agility and improve customer retention. Technologies such as blockchain, cloud computing, mobile technologies, big data analytics and social media therefore have perhaps more potential in this industry and area of business than any other. This book defines a fintech ecosystem for the 21st century, providing a state-of-the art review of current literature, suggesting avenues for new research and offering perspectives from business, technology and industry. |
| emerging technologies in banking: The Rise of Digital Money Mr.Tobias Adrian, Mr.Tommaso Mancini Griffoli, 2019-07-15 This paper marks the launch of a new IMF series, Fintech Notes. Building on years of IMF staff work, it will explore pressing topics in the digital economy and be issued periodically. The series will carry work by IMF staff and will seek to provide insight into the intersection of technology and the global economy. The Rise of Digital Money analyses how technology companies are stepping up competition to large banks and credit card companies. Digital forms of money are increasingly in the wallets of consumers as well as in the minds of policymakers. Cash and bank deposits are battling with so-called e-money, electronically stored monetary value denominated in, and pegged to, a currency like the euro or the dollar. This paper identifies the benefits and risks and highlights regulatory issues that are likely to emerge with a broader adoption of stablecoins. The paper also highlights the risks associated with e-money: potential creation of new monopolies; threats to weaker currencies; concerns about consumer protection and financial stability; and the risk of fostering illegal activities, among others. |
| emerging technologies in banking: Does IT Help? Toni Ahnert, 2022 This paper provides novel evidence on the importance of information technology (IT) in banking for entrepreneurship. To guide our analysis, we build a parsimonious model of bank screening and lending. The model predicts that IT in banking can spur entrepreneurship by making it easier for startups to borrow against collateral. We empirically show that job creation by young firms is stronger in US counties that are more exposed to IT-intensive banks. Consistent with a strengthened collateral channel, entrepreneurship increases by more in IT-exposed counties when house prices rise. Regressions at the bank level further show that banks' IT adoption makes credit supply more responsive to changes in local house prices, and reduces the importance of geographical distance between borrowers and lenders. These results suggest that IT adoption in the financial sector can increase dynamism by improving startups' access to finance.--Abstract. |
| emerging technologies in banking: The Future of Money Eswar S. Prasad, 2021-09-28 A cutting-edge look at how accelerating financial change, from the end of cash to the rise of cryptocurrencies, will transform economies for better and worse. We think weÕve seen financial innovation. We bank from laptops and buy coffee with the wave of a phone. But these are minor miracles compared with the dizzying experiments now underway around the globe, as businesses and governments alike embrace the possibilities of new financial technologies. As Eswar Prasad explains, the world of finance is at the threshold of major disruption that will affect corporations, bankers, states, and indeed all of us. The transformation of money will fundamentally rewrite how ordinary people live. Above all, Prasad foresees the end of physical cash. The driving force wonÕt be phones or credit cards but rather central banks, spurred by the emergence of cryptocurrencies to develop their own, more stable digital currencies. Meanwhile, cryptocurrencies themselves will evolve unpredictably as global corporations like Facebook and Amazon join the game. The changes will be accompanied by snowballing innovations that are reshaping finance and have already begun to revolutionize how we invest, trade, insure, and manage risk. Prasad shows how these and other changes will redefine the very concept of money, unbundling its traditional functions as a unit of account, medium of exchange, and store of value. The promise lies in greater efficiency and flexibility, increased sensitivity to the needs of diverse consumers, and improved market access for the unbanked. The risk is instability, lack of accountability, and erosion of privacy. A lucid, visionary work, The Future of Money shows how to maximize the best and guard against the worst of what is to come. |
| emerging technologies in banking: Breaking Banks Brett King, 2014-04-03 In the next 10 years, we'll see more disruption and changes to the banking and financial industry than we've seen in the preceding 100 years—Brett King Breaking Banks: The Innovators, Rogues, and Strategists Rebooting Banking is a unique collection of interviews take from across the global Financial Services Technology (or FinTech) domain detailing the stories, case studies, start-ups, and emerging trends that will define this disruption. Features the author's catalogued interviews with experts across the globe, focusing on the disruptive technologies, platforms and behaviors that are threating the traditional industry approach to banking and financial services Topics of interest covered include Bitcoin's disruptive attack on currencies, P2P Lending, Social Media, the Neo-Banks reinventing the basic day-to-day checking account, global solutions for the unbanked and underbanked, through to changing consumer behavior Breaking Banks is the only record of its kind detailing the massive and dramatic shift occurring in the financial services space today. |
| emerging technologies in banking: The Future of Finance Henri Arslanian, Fabrice Fischer, 2019-07-15 This book, written jointly by an engineer and artificial intelligence expert along with a lawyer and banker, is a glimpse on what the future of the financial services will look like and the impact it will have on society. The first half of the book provides a detailed yet easy to understand educational and technical overview of FinTech, artificial intelligence and cryptocurrencies including the existing industry pain points and the new technological enablers. The second half provides a practical, concise and engaging overview of their latest trends and their impact on the future of the financial services industry including numerous use cases and practical examples. The book is a must read for any professional currently working in finance, any student studying the topic or anyone curious on how the future of finance will look like. |
2025 Banking Survey: Technology
This year, the focus is technology, the engine of bank progress and an agent for future growth, even amid economic and regulatory uncertainty.
Banking Technology Landscape: Vision 2025 - Capgemini
We believe that emerging technologies will transform the banking landscape, leading to both opportunities to grow and challenges to be tackled by financial services industry stakeholders.
Next-gen Technology transformation in Financial Services
critical technologies ahead of the curve, companies recruit skilled engineers and entice them to stay with quality training and appealing incentives, including non-managerial career tracks …
Cognizant—Banking in 2035: How emerging tech will …
Whether you opt for an Elvis avatar or not, today’s financial services industry will be almost unrecognizable in 2035 – and hopefully won’t leave you “all shook up” – thanks to five key …
Emerging technologies disrupting the financial sector - PwC
FinTech has evolved as one of the most innovative and cost-effective disruptive technologies. Early adaptation of FinTech solutions has enabled several start-ups, financial service …
Emerging Technologies Shaping the Future of Banking
Offer Beyond-banking propositions for core customers Position your bank in line with FinTech-aligned for younger clients Extend B2B banking for service partners
The Role of Emerging Technologies in Banking & Financial …
Emerging technologies like IoT, cloud computing, virtual and augmented reality, blockchain, AI, and e-commerce are transforming the financial industry, but they also raise concerns about …
The Top Emerging Technologies In Banking In 2022
To learn how banks are planning to prioritize their technology investments in 2022, we interviewed and surveyed more than 30 banking business and technology decision- makers and solution …
A REVIEW OF EMERGING TECHNOLOGIES IN BANKING AND …
Abstract: There are various technologies which have emerged and are being used aggressively in finance and banking sectors in the recent decades.
TOP TRENDS IN BANKING & FINANCIAL SERVICES
These trends include the ongoing digital transformation, the emergence of FinTech companies, the increasing role of Artificial Intelligence (AI) and robotics, and re-thinking the concept of …
Fintech’s Next Chapter Scaled Winners and Emerging Disruptors
Apr 14, 2025 · Challenger banks, once emerging disruptors, have solidified their position within the global banking ecosystem, especially in major markets like Brazil, the UK, South Korea, …
The future of digital banking - KPMG
Over the next decade we will see more changes in the banking industry than we have witnessed in the past 100 years. This isn’t solely due to advancing technologies, but a confluence of inter …
Emerging technologies: Restructuring the fundamentals of
Technologies such as artificial intelligence, cloud computing and blockchain have already established innovative use cases in the financial services industry. Other emerging …
Banking Technologies Trends in 2024: Advantages and …
Plenty of creative and expedient solutions to clients' banking-related problems have been made possible by technology and digitalization in the banking industry. In this article the researcher …
Digital Banking Transformation and Role of Emerging …
Infosys released a report “Perspective – Fintech Revolution in Banking – Leading the Way to Digital” through an external document in the year 2018 explains an overview of the Role of …
Interdependence of emerging technology on next-generation …
We examine each of these four emerging technological areas in terms of the relevant banking applications, probable challenges and the future scope. We analyse how the combination of …
Banking: The role of RiskTech in effectively managing …
All BFSI firms, including banks, are grappling with increasingly dynamic and continually evolving risks. The banking industry has undergone broad structural change, marked by digitalization, …
The cyber clock is ticking: Derisking emerging technologies in ...
All four technologies are likely to see quicker adoption than advanced connectivity, future mobility, immersive reality, quantum, machine learning, and Web3. This is perhaps because of their …
Banking on FinTech in Emerging Markets - International …
Despite near-universal access to financial services in advanced economies, financial exclusion is stubbornly persistent in many emerging markets, leaving huge swaths of low-income …
FinTech as The Emerging Technologies in Banking Industry: …
Abstract—In the last decade, it stated that the discourse and the role of Financial Technology (FinTech) as the emerging technology in the financial and banking industry attracted the …
Emerging Technologies and Trends for Banking Supervision
Those who adapt their business models and find ways to use emerging technology to their advantage will thrive. The changes and developments will be market-driven as banks respond …
2025 Banking Survey: Technology
This year, the focus is technology, the engine of bank progress and an agent for future growth, even amid economic and regulatory uncertainty.
Banking Technology Landscape: Vision 2025 - Capgemini
We believe that emerging technologies will transform the banking landscape, leading to both opportunities to grow and challenges to be tackled by financial services industry stakeholders.
Next-gen Technology transformation in Financial Services
critical technologies ahead of the curve, companies recruit skilled engineers and entice them to stay with quality training and appealing incentives, including non-managerial career tracks …
Cognizant—Banking in 2035: How emerging tech will …
Whether you opt for an Elvis avatar or not, today’s financial services industry will be almost unrecognizable in 2035 – and hopefully won’t leave you “all shook up” – thanks to five key …
Emerging technologies disrupting the financial sector - PwC
FinTech has evolved as one of the most innovative and cost-effective disruptive technologies. Early adaptation of FinTech solutions has enabled several start-ups, financial service …
Emerging Technologies Shaping the Future of Banking
Offer Beyond-banking propositions for core customers Position your bank in line with FinTech-aligned for younger clients Extend B2B banking for service partners
The Role of Emerging Technologies in Banking & Financial …
Emerging technologies like IoT, cloud computing, virtual and augmented reality, blockchain, AI, and e-commerce are transforming the financial industry, but they also raise concerns about …
The Top Emerging Technologies In Banking In 2022
To learn how banks are planning to prioritize their technology investments in 2022, we interviewed and surveyed more than 30 banking business and technology decision- makers and solution …
A REVIEW OF EMERGING TECHNOLOGIES IN BANKING …
Abstract: There are various technologies which have emerged and are being used aggressively in finance and banking sectors in the recent decades.
TOP TRENDS IN BANKING & FINANCIAL SERVICES
These trends include the ongoing digital transformation, the emergence of FinTech companies, the increasing role of Artificial Intelligence (AI) and robotics, and re-thinking the concept of …
Fintech’s Next Chapter Scaled Winners and Emerging …
Apr 14, 2025 · Challenger banks, once emerging disruptors, have solidified their position within the global banking ecosystem, especially in major markets like Brazil, the UK, South Korea, …
The future of digital banking - KPMG
Over the next decade we will see more changes in the banking industry than we have witnessed in the past 100 years. This isn’t solely due to advancing technologies, but a confluence of inter …
Emerging technologies: Restructuring the fundamentals of
Technologies such as artificial intelligence, cloud computing and blockchain have already established innovative use cases in the financial services industry. Other emerging …
Banking Technologies Trends in 2024: Advantages and …
Plenty of creative and expedient solutions to clients' banking-related problems have been made possible by technology and digitalization in the banking industry. In this article the researcher …
Digital Banking Transformation and Role of Emerging …
Infosys released a report “Perspective – Fintech Revolution in Banking – Leading the Way to Digital” through an external document in the year 2018 explains an overview of the Role of …
Interdependence of emerging technology on next …
We examine each of these four emerging technological areas in terms of the relevant banking applications, probable challenges and the future scope. We analyse how the combination of …
Banking: The role of RiskTech in effectively managing …
All BFSI firms, including banks, are grappling with increasingly dynamic and continually evolving risks. The banking industry has undergone broad structural change, marked by digitalization, …
The cyber clock is ticking: Derisking emerging technologies …
All four technologies are likely to see quicker adoption than advanced connectivity, future mobility, immersive reality, quantum, machine learning, and Web3. This is perhaps because of their …
Banking on FinTech in Emerging Markets - International …
Despite near-universal access to financial services in advanced economies, financial exclusion is stubbornly persistent in many emerging markets, leaving huge swaths of low-income …
FinTech as The Emerging Technologies in Banking Industry: …
Abstract—In the last decade, it stated that the discourse and the role of Financial Technology (FinTech) as the emerging technology in the financial and banking industry attracted the …
Emerging Technologies and Trends for Banking Supervision
Those who adapt their business models and find ways to use emerging technology to their advantage will thrive. The changes and developments will be market-driven as banks respond …
