Banking Technology Research Articles

Banking Technologies Trends in 2024: Advantages and Challenges

A bank is a crucial company in the services sector. The most important role in the bank is played by the customers. The person who utilizes banking products and services and evaluates their quality is the client. A contract between a bank and a customer is known as a banking relationship. Every industry needs to continue expanding and changing in order to meet consumer demands and thrive. The same idea applies to the financial sector as well. Since many in this industry have worked hard for years to meet the urgent needs of their customers, they have long resisted changing their management and processes. This industry has been reluctant to adapt since these systems are less appropriate for the technologically advanced world of today. In this paper the researcher aims to study the latest banking technologies, advantages and challenges.

Technological turbulence as hindrance between factors influencing readiness of senior management and implementing blockchain technology in Jordanian Islamic banks: a structural equation modeling approach

The purpose of the study was to identify the factors that influence senior management for adopting blockchain technology in the banking industry in general and Islamic banking in particular. Furthermore, the research addressed the moderating role of technological turbulence as it holds a significant hindering role. This study employed the analytical approach, and the data were collected through questionnaires distributed to several senior management employees in both the Jordan Islamic Bank and the Islamic Arab Bank. The research instrument was developed and confirmed by the experts in the field. For identifying the significance of the variables incorporated in the researchers applied structural equation modeling technique. The findings revealed that economic efficiency, bank security, customer expectations, education, training and preparation all are significant predictors of readiness for implementing blockchain technology in the Islamic banks in Jordan. The study concluded that blockchain technology should be adopted by all Islamic banks because of its advantages and also the management needs to be educated regarding the same; they should be provided appropriate training.

A systematic review of the behavior intention on mobile banking and stock trading

This study aims to present a systematic and thorough evaluation of the empirical literature that has been published on behavior intention regarding mobile banking and stock trading from 2011 to 2023. Fifty-one articles published in the journal Web of Science as well as additional records discovered through other sources are included in the overview literature. The methodology study uses a systematic literature review by the Preferred Reporting Items for Systematic Reviews and Meta-Analyses (PRISMA) standards. Our findings show that perceived usefulness and perceived ease of use are the most important factors influencing intentions to adopt mobile banking and stock trading. The focus of the literature has been on formal study designs, statistical approaches, cross-sectional studies, and causal studies carried out in a specific country, particularly in Asia and Africa. Nonprobabilistic sampling with relatively large sizes is frequently used in studies. The majority of research examines conceptual models based on theoretical concepts. Comparative studies are needed to compare behavioral intention and use behavior to adopt mobile banking technology and stock trading. Future studies should accommodate demographic variation as a construct and explore other suitable factors, such as social influence, personal innovativeness, trust, and risk perception that can influence behavior intentions, to improve and strengthen model predictions.

Paradigm shift in the digital transformation of the banking sector: A bibliometric analysis

This study attempts to provide a comprehensive analysis of the impact of digital technology on the banking industry. The banking industry is undergoing a rapid paradigm shift, driven by the need for reliable, intuitive, and efficient financial services, as well as the proliferation of innovative financial technologies and changing regulations. This calls for a comprehensive study of digital transformation in the banking industry. The main objective of the study is to analyze the growth pattern of technological transformation in the banking industry. This paper adopts bibliometric analysis of data with substantial use of R package and VOSviewer software. The study examines 328 articles published in the Web of Science and Scopus databases between 2009 and 2023. The results show an increasing trend of 18.29% in the publication of articles based on their annual production. The study conducted a network analysis to identify the paradigm shift in banking technology related to FinTech, innovation, digital transformation, adoption of digital banking technology, digital economy, e-commerce, and digitization. The results show that the period from 2017 to 2023 is of great importance, as it has witnessed a significant increase in the volume of publications related to digital transformation in the banking sector.

Mentoring and Empowerment Diploma Three Student in Blood Bank Technology, Health Polytechnic, Ministry of Health, Semarang, Through Training in Making Soy Milk as an Effort to Prevent Anemia

Mentoring participants know about anemia and its symptoms. Participants know the equipment and materials needed to make soy milk and know the steps on how to make soy milk and participants are able to give a demonstration of making soy milk to the residents of the target village. Residents of the assisted villages know how to make soy milk. Community service activities with the Entrepreneurship Development Program (PPK) scheme with the theme "Assistance in the Empowerment of Diploma Three Technology Students at the PolkesMar Blood Bank through training in making soy milk (Soymilk) as an effort to prevent anemia" was carried out on Friday 28 July 2023 with a target of 10 people participating. consisting of 8 active students and 2 alumni. The output is in the form of videos and pamphlets on making soy milk that have received IPR certificates as well as the expertise of training participants resulting from a series of training activities on making soy milk (Soymilk) targeting students and alumni. This has also been implemented in community service activities for the target village residents in Pundan Hamlet, Subdistrict. Kebondowo Banyubiru, Semarang district, which will be held on Sunday 15 October 2023. The successful achievement of this activity was that all participants in the training on making soy milk were able to give demonstrations on making soy milk to the residents of the target villages. Residents of the assisted villages were given education about anemia and solutions to preventing anemia, the committee also showed videos of making soy milk, distributed pamphlets and gifts to residents of the assisted villages.

Industry 4.0 and its Impact on the Development of Vietnamese Commercial Banks

The Fourth Industrial Revolution (Industry 4.0), with technological achievements in artificial intelligence, blockchain technology, big data, the Internet of Things, etc., has significantly affected various aspects of the economy, including the banking sector. The aim of this article is to evaluate and forecast the transformation of the banking industry globally and in Vietnam. This study employs methods of secondary data synthesis and comparative analysis and reviews the research reports of regulatory agencies and consulting organizations. The article resulted in identifying the characteristics of Industry 4.0 and its impact on the banking and finance industries. The author highlights the main challenges in applying digital technology in Vietnamese banks and draws the conclusion that digital technology in the banking sector in Vietnam is still at a low level, with one of the most critical issues being the lack of a legal framework related to digital finance and electronic transactions.

Model for Technology Risk Assessment in Commercial Banks

As the complexity of banking technology systems increases, the prevention of technological risk becomes an endless battle. Currently, most banks rely on the experience and subjective judgement of experts and employees to allocate resources for technological risk management, which does not effectively reduce the frequency of technology-related incidents. Through an analysis of mainstream risk management models, this study proposes a technology-based risk assessment system based on machine learning. It first identifies risk factors in bank IT, preprocesses the sample data, and uses different regression prediction models to train the processed data to build an intelligent assessment model. The experimental results indicated that the Genetic Algorithm–Backpropagation Neural Network model achieved the best performance. Based on assessment indicators, indicator weight values, and risk levels, commercial banks can develop targeted prevention and control measures by applying limited resources to the most critical corrective actions, thereby effectively reducing the frequency of technology-related incidents.

THE ROLE OF BLOCKCHAIN IN REVOLUTIONIZING TRANSPARENCY AND EFFICIENCY IN MODERN BANKING

This research paper explores the transformative role of blockchain technology in modern banking, focusing on its potential to enhance transparency and efficiency. Blockchain, characterized by its decentralized and immutable ledger system, offers significant improvements over traditional banking methods by reducing reliance on intermediaries, mitigating fraud risks, and streamlining transaction processes. The paper reviews existing literature to outline the key advantages of blockchain, including real-time transaction processing through smart contracts and enhanced corporate governance through transparent record-keeping. It also addresses challenges such as scalability and regulatory compliance that banks must navigate in the implementation of blockchain solutions. Ultimately, the findings suggest that while blockchain presents substantial opportunities for revolutionizing the banking sector, careful consideration of its complexities is essential for successful integration.

Analisis Kegunaaan dan Kemudahan Sistem Teknologi pada Aplikasi Mobile Banking terhadap Keamanan Bertransaksi Non Tunai di Kalangan Mahasiswa

The development of banking services not only aims for security and reliability, but also to provide services that are adapted to technological developments and needs, as mobile banking involves combining information technology and business applications together Mobile Banking is a banking service provided by the bank to support the smoothness, convenience and security for the use of banking activities in terms of customer effectiveness and efficiency in transactions. This study aims to determine the ease of use of the Mobile Banking technology system for non-cash transactions among students. The approach used in this research is a qualitative approach by going to the field, namely interviews with respondents of 5C class Islamic Banking students. The research method is based on the philosophy of the key instrument and also produces written or oral data. The usefulness and convenience obtained from mobile banking on security in non-cash transactions provides significant results and benefits in non-cash transaction problems among students because it is very efficient and helpful. In addition, the security side of the transaction must also be considered so that nothing unwanted happens.

THE INFLUENCE OF DIGITAL BANKING, SERVICE QUALITY, AND CUSTOMER SATISFACTION ON CUSTOMER LOYALTY OF PT. BANK SULSELBAR MAKASSAR MAIN BRANCH

Advances in banking technology provide convenience for customers through operational services in the form of Digital banking, which enables customers to conduct banking transactions via smartphones and other media. This study aimed to determine the effect of digital banking, service quality, and customer satisfaction on customer loyalty at PT. Bank Sulselbar Makassar Main Branch. This study uses a quantitative approach through the equation (Structural Equation Model/SEM) with Confirmatory Factor Analysis (CFA). Data was collected by distributing questionnaires to 375 customers using a two-stage random sampling technique. The data that has been collected is analyzed using AMOS 25.0.

Integrating Banking Fundamental Factors with Financial Technologies in Increasing Banking Performance

The existence of innovation involving the adoption of technology in banking has boosted financial performance, where banks get sizable benefits. The use of technology in financial services or known as fintech not only produces new products and models in financial services, but has created solutions. This research is a quantitative research with secondary data sourced from the Financial Services Authority and Bank Indonesia from April 2020 to April 2023. The object of this research is all banks in Indonesia whose data has been aggregated. The variables used in the research are fintech as the independent variable, and banking profitability as the dependent variable, then adding banking fundamentals as a control variable . Meanwhile the analysis technique to be used is Ordinary Least Square (OLS). Fintech can optimize its role in supervising customers which can have an impact on minimizing non-performing loans so that it can increase profitability. The next thing is that even though costs increase it can actually increase profitability. The role of fintech in this case is that although the adoption of fintech will increase costs, profitability will also increase. The level of financing represented by LDR can be maximized in percentage in order to increase profitability.

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

Information Technology in Banking and Entrepreneurship

Information Technology in Banking and Entrepreneurship

The Significance of Digital Financial and Banking Technology in Fostering Artificial Intelligence and Contributing to Sustainable Development in Iraq

The Significance of Digital Financial and Banking Technology in Fostering Artificial Intelligence and Contributing to Sustainable Development in Iraq

Effect of the Quality of Banking Technology Services on Customer Satisfaction with Services and Green Banking Technology (Case Study: Iran and Iraq)

Organizations in a competitive and challenging environment emphasize more than anything to create sustainable and profitable relationships with customers. Traditional marketing always focuses on attracting new customers and sales; while this view has changed today, maintaining current customers and creating a permanent relationship with them is on the agenda besides trying to get new customers. Here, customer satisfaction is one of the important components. Accordingly, this study has evaluated the relationship between technology service quality and services for green banking users and technology satisfaction. Thus, a questionnaire was used to collect data, and finally, information from 700 respondents was collected, which included individuals who used green banking services. The statistical sample of the research included 350 people who use green banking services in Iran and 350 people who use green banking services in Iraq in 2023. The desired model has been validated with the help of Structural Equation Modeling (SEM) analysis through AMOS and SPSS software. The results showed that the quality of technology services in Iran including (dimensions of reliability, tangible property, accountability, empathy, and confidence) had positive and significant effects on customer satisfaction with green banking services and customer satisfaction with green banking technology. As for Iraq, the first main hypothesis is confirmed: the quality of technology services including (dimensions of reliability, tangible property, responsiveness, empathy, and assurance) had positive and significant effects on customer satisfaction with green banking services. However, while the second hypothesis of the research has been confirmed: the quality of technology services has positive and significant effects on customer satisfaction with green banking technology, three sub-hypotheses have been rejected: the effect of reliability, responsiveness, and empathy dimension of technology service. Therefore, this research provides a new perspective for sensitive and committed countries to strengthen their green development in banking strategies by welcoming technological advances.

Prediction of customer acceptance of artificial intelligence technology in Indian retail banks: a sentiment analysis approach

Prediction of customer acceptance of artificial intelligence technology in Indian retail banks: a sentiment analysis approach

К ВОПРОСУ О ВНЕДРЕНИИ СКВОЗНЫХ ЦИФРОВЫХ ТЕХНОЛОГИЙ В СФЕРУ РОЗНИЧНОГО БАНКОВСКОГО ОБСЛУЖИВАНИЯ

The article analyzes the features of the use of end-to-end digital technologies in modern banking, the uncontrolled introduction of which is associated with serious risks to the security of the state, business and citizens. At the same time, the author reveals the problem of systematization of end-to-end digital technologies, gives a brief description of each type of such innovation, and describes the mechanism of its application by credit institutions in the field of retail services. The author focuses on the risks that the process of uncontrolled introduction of end-to-end digital technologies entails. The importance of scientific research in this area is also emphasized.

ОТКРЫТЫЙ БАНКИНГ КАК ПРЕОБРАЗУЮЩАЯ ТЕНДЕНЦИЯ ИНВЕСТИЦИОННО-БАНКОВСКОЙ ДЕЯТЕЛЬНОСТИ

The purpose of the article is to disclose the content, development prospects and features of regulation of open banking as a transformative trend in investment banking. The relevance of this problem is associated with the novelty and insufficient study of the problem of the functioning of Open Banking technology. This study is based on a systematic approach, which made it possible to present Open Banking as a system of interrelated elements that provide opportunities to improve the quality and increase the efficiency of financial transactions on its behalf. The methods used in the process of writing this article were general scientific approaches that allow us to study the problem (analysis, generalization, classification) and identify the characteristic features of the current situation in the field of implementation and use of Open Banking technology. Open banking is a transformative trend that determines the future of investment banking in many countries around the world. By addressing the challenges and capitalizing on the opportunities presented by open banking, financial institutions can make significant progress in the global financial landscape. The benefits of Open Banking are numerous, including improving the customer experience, increasing competition, and facilitating innovation in financial services. Open Banking also allows fintechs to offer personalized financial management tools, leading to increased customer engagement with the banking institution.

Ефективність використання інструментів e-commerce в розвитку маркетингової діяльності підприємств

The aim of the article is the theoretical and methodological substantiation of the use of e-commerce tools in the development of marketing activities of enterprises in turbulent economic conditions. According to the results of the carried out study, the volume of e-commerce trade is identified. Global e-commerce turnover amounts to approximately $6 trillion. This is 20-odd percent of the world’s total retail trade. Due to the different level of development (penetration) of information technology in each of the European countries, taken into consideration the data of the European E-Commerce Report 2023, it is worth noting that the share of online sales has increased significantly. The main factors influencing the difference in the number of sales between countries in the e-commerce segment are: development and application of e-commerce tools; integration of banking technologies into e-commerce; development of a network of logistics delivery centers; legal safeguards to protect consumers. The speed of updates of technologies and methods of their application in the field of e-commerce is high, so there is a necessity for constant monitoring of the functionality and experience in the implementation of innovative products. In order to save money on marketing activities of enterprises in Ukraine, it is recommended to increase the CRR (Customer Retention Rate). The main tools (directions) for improving efficiency in e-commerce are e-mail marketing, messenger marketing, remarketing campaigning using Google Ads, Facebook Ads and other advertising platforms.

Optimizing Bank Profitability Model Considering the Role of Modern Banking Technologies

The aim of this study is to present an optimized model for bank profitability by considering the role of modern banking technologies. This research, being exploratory in nature due to its model development, is also considered applied because its results are utilized by beneficiaries. A quantitative method is used in this study to optimize bank profitability while considering the role of modern banking technologies. In the first step, influential components are identified through library techniques and document review, followed by mathematical programming for modeling. The proposed model is optimized using the epsilon-constraint algorithm in the MAPLE software and further optimized using MATLAB software. The research population, as a case study, includes documents and articles related to the banking industry. Initially, a single-component bank, considered as part of the system, was examined. Assume the bank operates in a seven-hour shift, six days a week. The maintenance activity time and fintech interventions were set to 7 time units, and the service delivery and corrective actions were set to 12 time units. With a 10% and 20% increase in the δ_E and δ_(M/C) data, significant changes in the objective function and decision variables were observed. However, changes in other data did not result in noticeable alterations in the model, indicating the importance of preventing the process from shifting to an out-of-control state and the significance of changes in the mean and standard deviation of the targeted quality characteristic. The proposed model determines the optimal value of each of the four decision variables: sample size (n), sampling interval (h), control limit coefficient (k), and intervals for preventive fintech actions (t_PM), which minimizes the total expected cost from integration per time unit. A numerical example demonstrated the economic impact of cost parameters on the integrated policy of profit control and preventive fintech actions. Additionally, in this study, the integrated model was compared with the independent model through a numerical example, and the significant difference in total cost highlighted the superiority of the integrated model over the independent model.