Personal Banking Research Articles

Algorithms in the Educational Process – Opportunities and Limitations

Introduction: Algorithm application is now a common topic in scientific and popular science publications. More and more practitioners and theoreticians associated with teaching, upbringing, and therapy are turning to it, hoping to make their activities more effective and improve their organization. Research Aim: This article presents the possibilities and limitations of introducing algorithms to the educational process. Evidence-based Facts: Over the past years, the number of publications dedicated to AI and the process of algorithmization, has increased significantly. Defining the concept of an algorithm, and pointing out its connection with machine learning and artificial intelligence have paved the way for applying algorithms in many areas of our lives from applications used on personal devices, to medicine, banking, educational policy, and scientific research. The increasing popularization of algorithmization and easier access to this technology have sparked a discussion about its limitations and dangers affecting adults and children, either directly or indirectly. Summary: Practitioners and researchers involved in educational processes still lack knowledge of the topic under discussion. Few scientific or popular science publications prepared by real specialists are aimed at this audience. Without a thorough understanding of algorithmization, machine learning, and artificial intelligence, the introduction of algorithms to the educational processes may not only fail to achieve the intended results but also lead to disorders in the development of children, adolescents, and adults.

Financial transformation through Fintech in Mexico

In the year 2024, Fintech in Mexico have experienced significant growth and have established themselves as important players in the country's financial sector, these platforms to carry out financial transactions, manage their personal finances and access alternative banking services; Fintech have expanded their service offering beyond digital payments and transfers, now offering products such as loans, insurance, investments and financial advice, covering a wide range of users' financial needs. This research aims to provide a general overview of the use of Fintech currently in Mexico, as well as regulation, financing, strategies, transformation, and statistical data. The methodology used in the research is mixed because it takes up characteristics of quantitative studies, through data obtained from different and qualitative sources in accordance with the research to be carried out rationally in data theory. Greater investment and financing since Fintech in Mexico has attracted significant investments from both national and foreign capital, this has allowed Fintech companies to expand, improve their technologies and offer better services to their users. It is important to recognize that Fintech in Mexico in 2024 is at a point of maturity and growth, offering a wide variety of digital financial services and contributing to financial inclusion and the modernization of the sector in the country

My Money is My Blood, Do Not Waste It: A Critical Analysis of the Return and Reintegration Experiences of Ugandan Migrant Domestic Workers from Saudi Arabia

The study analyzed the return and reintegration experiences of returnee Ugandan migrant domestic workers from Saudi Arabia. It was grounded in a social constructivism paradigm, an interpretive framework that emphasizes how individuals understand and assign meaning to their world. A qualitative approach was adopted, utilizing a phenomenological research design to explore the lived experiences of returnees. Data was collected through unstructured interviews with 28 respondents, allowing for in-depth insights into their experiences. Thematic analysis was employed to analyze the data, and concept maps created using NVivo version 10.0 were used to illustrate the findings. The study revealed that the return and reintegration journey for migrant domestic workers comprised three key phases: preparing to leave their employers' homes after the expiration of contracts, travelling back to Uganda, and reintegration into their communities. However, the research highlighted numerous challenges faced by returnees. Some employers forced workers to continue working under exploitative conditions, tantamount to slavery, by withholding their consent to leave. In other cases, employers failed to purchase the required return airline tickets, as stipulated by the bilateral labour agreement, in an effort to coerce workers into renewing their contracts against their will. Upon returning to Uganda, many returnees faced further hardships. They were often met with distressing revelations, such as discovering that the next of kin they had entrusted with their savings had misappropriated the funds. This financial exploitation, coupled with economic and social reintegration difficulties, led to significant psychosocial challenges for the returnees. To address these issues, the study recommends implementing measures to protect migrant domestic workers’ finances. For example, every worker should open a personal bank account where their wages and salaries can be securely deposited and saved, ensuring access to their funds upon return to ease reintegration challenges. Families and next of kin must be educated about the risks and consequences of misusing workers’ money, considering the harsh conditions under which these workers labour. Furthermore, local council members should enforce accountability by ensuring that family members who misuse returnees' funds reimburse the money, potentially with added interest, to deter financial exploitation

Product Types Changes after the Russia-Ukraine War

The events of February 24, 2022 had a profound impact not only on the events in the world, but also on the banking sector of the specifics. After this period, a mass influx of foreigners began on the territory of Georgia, which after a short period of time had a huge impact on the appearance of existing products. For example: the cost of the concept service at one Bank if it amounted to 20 GEL monthly for all citizens of all countries before 2022, the Bank decided to increase the non-benchmark fee to 25 GEL per month for foreign nationals. Since the mentioned restriction did not have a huge impact on anything, after that the commission on the obligatory payment of a foreign citizen was introduced in the banking fields, which meant that a foreign citizen was obliged to pay the commission for the review for opening an account in the bank, which is determined by 50 GEL. Regardless of whether the answer would come positive or negative, this commission was mandatory and is for all non-resident persons. The paper discusses these and other events in detail. It is clarified - what exactly has changed in the banking sector after the massive influx of foreign citizens and the increase in the number of account openings. Specific facts are presented, which is currently happening in all commercial banks. It is recommended - what method should the user apply when opening an account, using personal banking services, using an individual safe, registering property. Relevant areas are given, with their service prices, which will help both the receiver and the service provider to get the information they need in advance. Keywords: Concept Services, Tariff Sanctuary, National Regulations.

Married and cohabiting women's financial empowerment: A study on women's bank account ownership in Spain

AbstractObjectiveThe goal was to examine the conditions under which young adult women (aged 25–50) in heterosexual couples maintain their economic independence through a personal bank account.BackgroundResearch has shown that in Spain, the pooling of economic resources is seen as an important aspect of being a couple and as a symbol of togetherness. However, in practice, joint management can be characterized by inequalities on several levels, such as access to money, control over money, and personal spending. Few studies have focused on household financial organization in Spain, and studies of women's financial autonomy are lacking.MethodWe conducted a cross‐sectional analysis of couples aged 25–50 in Spain (N = 1,281) using data from the 2020 National Survey on Family Life.ResultsThe findings reveal that women are significantly less likely to have a personal bank account if either partner does not endorse values of economic autonomy, the couple is married with children, or, if the male partner earns significantly more.ConclusionThe results suggest that there is still a long way to go for Spain to reach the levels of women's account ownership seen in countries such as those in Northern Europe. It is important to incorporate women's account ownership into the investigation of financial organization, given its substantial implications for women within couples and those navigating relationship dissolution.ImplicationsGovernment programs should promote women's account ownership. Also, policies targeting financial literacy can incorporate dimensions such as basic budgeting, saving, and debt management so that women can gain further financial skills.

Analysis of changes in HSBC’s income statement between 2022-2023

The banking industry is a cornerstone of the world wide economy, primarily due to the unique nature of its primary product—money. This sector has long held a central role within society and continues to attract considerable interest from potential investors. However, investing in the banking industry is not without its challenges. Market volatility, regulatory compliance costs, and geopolitical uncertainties can profoundly impact the industry’s profitability and stability. Being among the biggest banks in the world, HSBC provides financial services such as personal banking, wealth management, and corporate finance in over 60 countries. This is an excellent example of an analysis of the banking sector. The essay lists changes in HSBC’s income statement between 2022 and 2023 and analyses them using vertical and horizontal analysis, ratio analysis, segment reporting analysis, and benchmarking. Through these analyses, the essay aims to see HSBC’s capacity to face banking crises and provide a few suggestions for investors.

Factors Influencing the Use of Digital Personal Banking in South Africa

Financial technology improvements have simplified personal banking, allowing a range of services to be accessed anytime and anywhere. But the impact of digital financial technology on the use by consumers of digital personal banking in developing economies has been little researched. The purpose of this study is, therefore, to examine the link between the use of digital personal banking by consumers and the various drivers of digital banking use in a developing economy, namely South Africa. An online survey of 400 digital banking users in the iLembe district of KwaZulu-Natal, South Africa, was used to collect data. Of the eight drivers identified initially from extant literature, Online service quality, Usability, and Branch service quality were the most important, with Usability and Online service quality having the greatest positive influence, and Branch service quality having a large negative influence, on use of digital banking by the respondents.

Beyond the monolith: a taxonomy of relationship banking models and segmentation levels in SMEs

Purpose This study aims to investigate the reality of relationship banking (RB) in the small and medium enterprise (SME) context, specifically how banks organize activities, define SMEs and manage the SME–banking relationship. Design/methodology/approach Using qualitative methods, this study uses a case study approach, conducting in-depth interviews with relationship managers from major New Zealand banks. The data are analyzed using thematic analysis with a process- and mechanism-oriented lens. Findings The study identifies bank criteria for defining SMEs, considering factors such as business complexity, owner/manager ethnicity and business lending. Banks divide their activities into personal and business banking, with the latter further classified as micro-, small- and medium-sized businesses based on borrowing amounts. Three types of RB emerge, namely, micro-business (online/many-to-many) relationship model (RM), small-business RM (one-to-many) and medium-sized business (one-to-one) RM. This study presents a taxonomy of business banking relationship management models that capture the structure and dynamics of the three RB levels. Research limitations/implications Interviews may introduce biases or limited perspectives. Findings specific to New Zealand may not universally apply. Future research could explore different regions and assess the impact of these RB models on SMEs’ financial outcomes and satisfaction with banking services. Practical implications Findings assist banks in organizing activities and managing SME relationships. Taxonomy aids in categorizing companies and determining appropriate management models. Consequently, tailored services can be provided based on SME needs, offering customized financial packages. Social implications RB models prioritizing ethnicity consideration and personalized services contribute to enhanced financial inclusion for SMEs, thereby fostering broader socioeconomic growth and development, partly through the provision of tailored financial packages. Additionally, relationship managers specializing in specific industries can offer valuable insights and assistance to SMEs, fostering mutual trust and collaboration. Originality/value To the best of the author’s knowledge, this is the first study to hypothesize, investigate, identify and provide evidence for three RB levels in SMEs. The presented taxonomy contributes to the literature on the SME–bank relationship by providing a structured framework for effective SME relationship management. Insights can help banks develop strategies and practices for serving SMEs, ultimately contributing to their growth and success.

Impact of Digitalization on Personal Banking Services

Impact of Digitalization on Personal Banking Services

BigTech, FinTech, and banks: A tangle or unity?

We examined the dual impact of BigTech and FinTech financing on traditional banking metrics like personal loans, credit risk, and bank performance. Through baseline regressions, alternative measures, endogeneity checks, and sub-sample analysis, our findings reveal an inverse relationship between BigTech and FinTech financing with personal loans and credit risk, suggesting severe challenges to traditional banking practices. Conversely, a positive correlation with bank performance indicates that while BigTech and FinTech disrupt certain aspects of banking, they also present opportunities for adaptation to blockchain-based financing mechanisms. Further evidence also confirmed these findings. The study informs various policymakers, stakeholder, and academic scholars.

Facial Authentication As A Bank Security Measure In Zimbabwe

This paper reports on the findings of a research that was conducted in an endeavour to improve security within the banking sector. The research was triggered by an increase in the number of cyber-attacks on personal bank accounts resulting in the loss of huge sums of money and hence eroding bank confidence among customers. The main objectives of the study were to determine whether customers were aware of facial authentication as a bank security and to assess whether customers would accept facial authentication as a bank security measure. Further, the study was carried out to establish whether it was feasible for banks to implement such a biometric system as part of enhancing bank security and determine the extent to which customers are prone to cyber-attacks. Finally, the research aimed to outline the probable challenges that may be encountered in implementing facial authentication in the banking system. A survey of 70 bank employees and 200 bank customers were selected from two commercial banks using a purposive sampling method. Data was collected using interviews, questionnaires, and an experiment conducted to establish the vulnerability of customers to cyber-attacks. Findings revealed that customers and employees were aware of facial authentication as a measure of bank security and it was a preferred method for bank security in this digital transformation age. Customers were highly prone to attacks as they just clicked links to websites without a second thought. The technology was recommended for the possibility of improving bank security and hence boosting customer confidence and enhancing the security of customer data. However, whilst it was feasible for banks to implement the technology as they have adequate finances, likely challenges to be encountered included a lack of expertise to set up the system and a lack of knowledge on its use amongst customers. The study recommended banks consider facial authentication due to its advantages over other non-biometric methods. The technology is safer especially as it reduces human contact and does not depend on the need for customers to memorise passwords or codes nor does it require them to possess something like smart cards. Keywords: Facial authentication, Password, Bank Security, Personal identification number, customer confidence

Can online banking replace personal banking? A survey of Hungarian banking habits

AbstractOne of the important issues of banking today is the role bank branches and online banking solutions play in serving consumers. With the help of a representative Survey of 1,000 adults in Hungary conducted in 2022, we examine how well online and mobile banking solutions can provide a suitable alternative to bank branches. Based on our results, online banking solutions cannot fully replace personal banking in Hungary due to the customers' attitudes, as we can see that their use does not significantly affect the frequency of visits to the bank branch, and their usage rate does not increase with the distance from the bank branch. We also point out that for the Hungarian population the trend of bank branch closures may entail the risk of being left out of the formal financial system mostly for the older, digitally less receptive social strata living in small settlements and in a relatively worse financial situation.

Persepsi Nasabah terhadap Aplikasi M-Banking pada Bank Swasta dan Bank Pemerintah

Information and communication technology has revolutionized the banking sector and at its peak during the Covid 19 pandemic, most transactions can be carried out without the need to visit a bank and using mobile banking applications. In Indonesia, there are two banks that are most popular in using m-banking, m-BCA which is managed by a private bank and Livin by Mandiri which is managed by a state-owned company. The aim of this research is to analyze whether there are differences of trust, service quality and perceived risk on customer satisfaction in private and government managed m-Banking. The research method uses a quantitative approach based on data collected through online surveys. There are 180 active m-Banking customers with generation Z and Millennial demographics, students and productive workers. The results show that the factors that influence customer satisfaction in using m-Banking lie in the aspects of service quality and trust, while perceived risk has no effect. Furthermore, differences in the influence of m-banking application service quality determine customer satisfaction. Where, m-BCA customers are relatively more satisfied because the service is in accordance with the promises, transaction speed, security, attractive visual appearance, the application is more responsive and easier than the Livin by Mandiri. For generation Z and millennials, the use of digital banking applications is more influenced by the application's ability to meet transaction needs rather than threat factors such as the speed of computing personal data, cyber-crime and bank system errors.

The Impact of Artificial Intelligence Banking and Personal Interaction Quality towards Customer Retention with Customer Satisfaction as an Intervening Variable

Number of digital banking transactions Indonesia based on katadata.com in August 2023 grew by 169,9% throughout the last five years in five years and the amount of third-party banking funds in Indonesia increased by 12.3% according to Indonesian Banking Statistics data for 2020-2022. Number of digital transactions at Bank Maybank Indonesia in 2022 increased by 28% and the number of accounts increased in 2022 by 34%, however the amount of funds raised by Bank Maybank Indonesia decreased by 1.19%. It is alleged that the acquisition of accounts is not followed by customers who retain. This study was conducted to explore the effect of artificial intelligence banking and personal interaction quality on customer retention with customer satisfaction as an intervening variable. The research sample was 215 customer respondents using questionnaires and interviews. The analysis method uses Structural Equation Models Partical Least Square (SEMPLS) based on Smart Partial Least Square (Smart PLS) 3.2.9. The results of the study are artificial intelligence banking has a significant effect on customer retention, personal intelligence banking does not have a significant effect on customer retention. When mediated by customer satisfaction, artificial intelligence banking still has a significant effect on customer retention and personal intelligence banking has a significant effect on customer retention through customer satisfaction as an intervening variable.

The moderating role of e-lifestyle on disclosure intention in mobile banking: A privacy calculus perspective

Advancements in information and communication technologies (ICT) have transformed the financial industry into “Fintech” and mobile banking. The COVID-19 pandemic has accelerated the adoption of mobile commerce services, with privacy and security concerns arising among consumers. This study adapted the privacy calculus theory to investigate the factors influencing consumers' willingness to provide personal information in mobile banking. It also examines the moderating role of e-lifestyle in the relationship between perceived benefits and risks and the intention to use mobile banking. The results show that perceived benefits outweigh perceived risks, motivating users to provide personal data and use mobile banking. E-lifestyle clusters also moderate consumer attitudes towards mobile banking adoption, with different effects for Mobile Service Enthusiasts and Neutrals. Financial institutions can enhance user trust and adoption by understanding these factors and tailoring mobile banking experiences to users' preferences and lifestyles.

How Does Government Support, Finance, Family Environment and Information Technology Influence Sustainable Entrepreneurship?

Purpose: The purpose of this study is to analyze in a comprehensive way the relationship between the business and the factors of government, money, business environment, and information technology. Theoretical framework: Sustainable entrepreneurship is crucial to achieving the SDGs, not just in terms of economic growth but also in terms of achieving social and environmental goals. Design/methodology/approach: This study employs a quantitative approach, with the population under investigation consisting of all micro and small businesses in Parepare, Indonesia, or 1000 units of businesses. and collect data by using the probability sample method with the basic random sampling technique on 286 business owners. The data collection technique employs a previously developed angket penelitian based on research variable indicators that have been validated and shown to be reliable. Method of data analysis using SEM Amos 21. Result and Conclusion: The study's findings indicate that: (1) Government support—including funding, infrastructure provision, partnerships, business information, and business licensing—greatly influences sustainable entrepreneurship; (2) Financial factors—particularly those derived from personal funds and bank credit—are more significant in determining sustainable entrepreneurship; (3) the business environment, which is influenced by raw material availability, labor availability, business competition, and transportation—greatly influences sustainable entrepreneurship; and (4) the use of information technology in business management—greatly influences sustainable entrepreneurship. Research implication: The findings of this study have the potential to increase understanding in the field of entrepreneurship, particularly in relation to the factors that contribute to small-scale and sustainable entrepreneurship. They can also serve as a resource for scholars who will be researching related issues and the government when formulating policies aimed at fostering the growth of SMEs. Originality/value: This analysis focuses on sustainable entrepreneurship, even though it has already been conducted in developing countries. However, there aren't many studies that analyze the complex relationship between sustainable entrepreneurship and the factors that influence it, such as the government, the economy, the business environment, and information technology.

RETAIL BANKING SERVICES IN GP PARSIK SAHAKARI BANK LTD

Retail banking services in a GP Parsik Sahakari Bank Ltd executed transactions directly with consumers, rather than corporations or other banks. Services offered include saving and transactional accounts, mortgages, personal loan, debit cards and credit cards. The term is generally used to distinguish these banking services from investment banking, commercial banking or wholesale banking. It may be used to refer to a division of a bank dealing with retail customers and can also be termed as personal banking services. The bank has worked to acquire advanced banking technology and a highly qualified and motivated work force. The purpose is to include business with significant market shared in sectors of the economy that have good prospects for growth. Management intends to continue diversifying the GP Parsik Sahakari Bank Ltd revenue base and enhancing its position among its peer group in the banking sector. Keywords: Banking Services, Banking Technology, Market share, Investment

The Current Status and Influencing Factors of Minors' Personal Bank Account Usage in China

The Current Status and Influencing Factors of Minors' Personal Bank Account Usage in China

The Impact of Product Quality, Personal Trust, and Bank Trust for the Millennial Generation's Decision to Get a Bank Mortgage

This study aimed to investigate the relationship between personal trust, bank trust, product quality, and purchase intention among Indonesian consumers. The study collected responses from 133 participants in Jakarta, using a questionnaire with items adapted from previous research. The data was analyzed using SmartPLS to test reliability, validity, and hypotheses. The results showed that all constructs exhibited high levels of internal consistency and convergent validity. Furthermore, the correlation coefficients between the constructs were examined to assess discriminant validity. The results showed that the correlations were lower than the square root of the AVE, indicating discriminant validity among the variables. The study also investigated the specific indirect effects of personal trust and product quality on purchase intention through bank trust. The results showed that bank trust played a significant mediating role in the relationship between personal trust or product quality and purchase intention. Keywords: Personal trust, Bank trust, Product quality, Purchase intention

ПРАВОВЫЕ ОСОБЕННОСТИ ИСПОЛЬЗОВАНИЯ ИСКУССТВЕННОГО ИНТЕЛЛЕКТА ДЛЯ ОБЕСПЕЧЕНИЯ КИБЕРБЕЗОПАСНОСТИ В МАЛАЙЗИИ И ИНДОНЕЗИИ

The article provides a comparative legal analysis of approaches to the regulation and use of artificial intelligence in the field of cybersecurity using the example of the countries of the Asia-Pacific region – Malaysia and Indonesia. The main legal acts in the field of personal data protection, copyright, banking and financial sector, security of telecommunication networks, information infrastructure, cybercrimes, as well as issues of bringing to administrative and criminal liability for cybercrimes are considered. State bodies coordinating and implementing cybersecurity issues are listed. Particular attention was paid to the characteristics of the basic concepts disclosed in the acts under study. It is noted that the legal framework of Indonesia contains clearer interpretations of the definitions of a number of concepts in the field of cyber defense compared to Malaysia. However, Malaysian legislation covers a wider range of regulation of public life in the implementation of cybersecurity issues – from medicine to transport. In Indonesia, not all areas are so well regulated to deal with such issues. At the same time, the arsenal of means of protection against cyber-attacks or other illegal actions that encroach on the information and digital environment in Malaysia and Indonesia is approximately the same and differs only in the methods and quality (efficiency) of implementation. The serious and diverse approach of these countries for the further development, changes and improvement of legislation in matters of the use of artificial intelligence in activities to combat cybercrime is emphasized. Despite the contradictions on certain issues, each country seeks to strengthen its tools to combat cyber threats by developing separate national security strategies.