scholarly journals Consolidation in the banking industry: HR challenges, consequences and solutions

2021 ◽  
Vol 8 (3) ◽  
pp. 147-151
Author(s):  
N Karunakaran ◽  
T Bayavanda Chinnappa
Keyword(s):  
Mergers And Acquisitions ◽  
Financial Services ◽  
Banking Industry ◽  
New Technology ◽  
Banking System ◽  
Competitive System ◽  
System Changes ◽  
Banking Institutions ◽  
Market Driven ◽  
Opening Up

Liberalization and deregulation process started in 1991 has made lot of changes in the banking system. From a totally regulated environment, banking institutions have moved into a market driven competitive system. Changes gained momentum in the last few years. Globalization would gain greater speed in coming years particularly on account of expected opening up of financial services under WTO. Four trends changed the banking industry world over, viz, consolidation of players through mergers and acquisitions, globalization of operations, development of new technology, and universalisation of banking.

Part IV Regulatory and Other Developments in the UK 2010‒2016, 14 Financial Services (Banking Reform) Act 2013

2018 ◽  
Author(s):  
Mccormick Roger ◽  
Stears Chris
Keyword(s):  
Financial Services ◽  
Small Businesses ◽  
Banking Sector ◽  
Banking Industry ◽  
Banking System ◽  
Structural Reform ◽  
Professional Standards ◽  
Banking Reform ◽  
The Uk ◽  
Independent Commission

This chapter charts the passage of the Financial Services (Banking Reform) Act 2013. The Banking Reform Act was enacted in December 2013 and comprises of 8 parts and 10 schedules. The Act was intended to deliver on the government’s plan to create a more robust, better regulated and managed banking system, that supports the economy, customers and small businesses. The Banking Reform Act implemented the recommendations of the Independent Commission on Banking (on banking-sector structural reform) and the key recommendations of the Parliamentary Commission on Banking Standards (on behaviour, culture, and professional standards within the banking industry). The Act amended the FSMA, the Insolvency Act 1986, and the Banking Act 2009. It also provided the legislative platform for an enhanced accountability regime within financial services.

A review of literature directions regarding the impact of fintech firms on the banking industry

2021 ◽  
Vol ahead-of-print (ahead-of-print) ◽  
Author(s):  
Haitham Mohamed Elsaid
Keyword(s):  
Financial Services ◽  
Banking Industry ◽  
Banking System ◽  
Advanced Technology ◽  
Review Of Literature ◽  
Strategic Partnerships ◽  
Research Papers ◽  
Content Type ◽  
Fruitful Research ◽  
The Impact

Purpose This paper aims to provide a review of literature directions regarding the potential impact of fintech operators on the financial services market globally. This paper reviews the literature to identify possible benefits or challenges that fintech firms can have for the traditional banking system. Design/methodology/approach This paper is based on a review of published research papers related to fintech and digital finance. The Scopus database, SSRN database and google scholar were used to find relevant research papers. The final sample included impactful papers about the effect of fintech activities on the banking and financial services industry. Findings The current paper indicated that while fintech firms would take some market share away from banks, it is not expected that fintech firms would substitute banks. However, banks are required to accelerate their adoption of innovations and advanced technology to compete with fintech firms. It is also proposed that strategic partnerships and cooperation could happen between banks and fintech companies in a way that benefits both sides. Originality/value The present paper adds to the understanding of the effect of the fintech firms’ growth on the banking industry in light of the emerging opportunities and threats for the financial sector. The paper also provides guidance for fruitful research on the impact of fintech activities on social and economic welfare in the future.

scholarly journals Digital Finance and the Future of Nigerian Banking System: A Review

2020 ◽  
Vol 6 (16) ◽  
pp. 24-35
Author(s):  
Gbenga F. Babarinde ◽  
◽  
Matthew O. Gidigbi ◽  
Julius T. Ndaghu ◽  
Idera T. Abdulmajeed ◽  
...  
Keyword(s):  
Financial Services ◽  
Banking Sector ◽  
Banking Industry ◽  
Banking System ◽  
Financial Service ◽  
Digital World ◽  
Services Delivery ◽  
The Future ◽  
The Impact ◽  
Nigerian Banking

Digital finance is a type of financial service that employs digital products like personal computers, the internet, mobile phones, cards linked to a digital payment system. Innovations in the digital world cannot be divorced from Nigerian financial services most notably the banking sector. Therefore, it means that banking industry cannot but embrace digital innovations in their services delivery. Hence, there is a need to review the impact of digital finance in the Nigerian banking sector. Desk research method was used to examine how innovations in the digital world could impact the future financial service delivery in the Nigerian banking sector. From the review, it was that the digital world is quickly changing and this impacts banking in all ramification. It is recommended that the banking industry should try to keep pace with the digital innovations, for them to be able to meet up the demands of their digitally-savvy customers.

scholarly journals Investigating the Factors Influence Adoption of Internet Banking in Chennai: Adopters Perspective

2020 ◽  
Vol 8 (1) ◽  
pp. 187-190
Author(s):  
J Anand ◽  
S Radha
Keyword(s):  
Financial Services ◽  
New Technology ◽  
Internet Banking ◽  
Ease Of Use ◽  
Perceived Usefulness ◽  
The Internet ◽  
Perceived Ease Of Use ◽  
Descriptive Research ◽  
Banking Institutions ◽  
Use Of The Internet

The remarkable boom in the usage of the internet has made all banking institutions to make use of the internet for serving their customers retain and benefits, banks delivering all financial services through an online platform through Internet Banking. The track to embrace new technology to gain an advantage in the market gives the bank a new shape called the online Bank. The increased internet usage has made banks influence over the internet to gain a competitive advantage in the sector. This paper focus on the factors that influence the adoption of internet banking by customer”. In this study, descriptive research is used. The study is conducted to obtain data on the adoption of internet banking in Chennai. The study is conducted in the Chennai region. A sample size of 100 was selected using convenience sampling. The study reveals that perceived usefulness and perceived ease of use are the key factors to influence customer adoption of Internet Banking.

scholarly journals Concentration and Competition in Turkish Banking Industry: The Evidence from 2000 to 2012

2016 ◽  
Vol 4 (3) ◽  
pp. 1
Author(s):  
Serpil Kuzucu
Keyword(s):  
Mergers And Acquisitions ◽  
Financial Services ◽  
Financial Crises ◽  
Financial Liberalization ◽  
Banking Industry ◽  
Banking Crises ◽  
Government Policies ◽  
Banking Concentration ◽  
Technological Developments ◽  
The Relationship

<p><em>Banking industry worldwide has been transformed due to globalization, financial liberalization, technological developments, government policies, deregulation of financial services, financial crises and increase in mergers and acquisitions since 1980. With these changes, there is a trend towards decrease in the number of banks and increase in banking concentration. Increase in banking concentration might affect competition conditions in banking industry. The decrease in the number of banks and the increase in banking concentration dominate the Turkish banking industry after the banking crises in 2000 and 2001. This paper examines the relationship between concentration and competition in Turkish banking industry. I measure the size of banking concentration by concentration ratios and Herfindahl-Hirschman index with the data of commercial deposit banks in Turkey from 2000 to 2012. Competition degree is measured by using Panzar Rosse model. The results of the study suggest that there is no permanent relation between banking concentration and competition in Turkish banks.</em></p>

scholarly journals Development of the shadow banking system in Zimbabwe: A blessing from the shadows?

2015 ◽  
Vol 4 (4) ◽  
pp. 323-326
Author(s):  
Misheck Mutize ◽  
Virimai Victor Mugobo
Keyword(s):  
Regulatory Focus ◽  
Qualitative Data ◽  
Banking System ◽  
Shadow Banking ◽  
International Banking ◽  
Shadow Banks ◽  
Financial Products ◽  
Banking Institutions ◽  
Market Driven ◽  
Shadow Banking System

The rising of shadow banking institutions in Zimbabwe has been very quick for formal banking institutions and regulators to strategise against the threats that came with their development. This study applied qualitative data analysis and find that, the growth of a shadow banking system was market driven. Lack of confidence and financial innovation on the mainstream banking system to structure financial products that improve intermediation gave space for shadow banking growth. In response to this development, the researcher recommended that regulatory focus should be on the functions of shadow banks rather than institutions; this will be more inclusive and efficient in avoiding innovative creation of new entities that perform the same shadow banking functions. Also, the Zimbabwean formal banking system should be innovative in-line with the development of the international banking models

scholarly journals Merger & acquisition in the banking sector

2020 ◽  
pp. 19-23
Author(s):  
Liudmyla SKALOZUB
Keyword(s):  
Mergers And Acquisitions ◽  
Financial Markets ◽  
World Economy ◽  
Banking Sector ◽  
Banking System ◽  
Advantages And Disadvantages ◽  
Current State ◽  
Banking Market ◽  
European Banking ◽  
Banking Institutions

Nowadays there is a considerable amount of information in the literature about mergers and acquisitions of companies in various business fields which gives the world economy an incentive for mergers and acquisitions of financial institutions – banks, which, having large assets, control economic processes in individual countries. The article examines the current state of the market of mergers and acquisitions in the banking sector of Europe and Ukraine. The experience of merging banking structures is examined, the advantages and disadvantages of concluding agreements are identified, factors that may trigger merger or acquisition agreements are identified. The purpose of the article is to investigate the processes of mergers and acquisitions of banks in the Ukrainian and European financial markets. The current market conditions dictate strict rules not only for entry, but also for the functioning of banks in their segment. Globalization processes in today's world are one of the prerequisites for increasing the number of mergers and acquisitions concluded in the banking sector. The article examines the current state of the market of mergers and acquisitions in the banking sector of Europe and Ukraine. The experience of merging banking structures is examined, the advantages and disadvantages of concluding agreements are identified, factors that may trigger merger or acquisition agreements are identified. The merger or acquisition agreements concluded on the European banking market have been analyzed. By analyzing the concluded M&A agreements in the European banking market, we can say that the value of such agreements is gradually reduced over the period 2012-2017. The practice of merger and acquisition agreements in the banking sector of Ukraine is analyzed. Crises in the banking sector and the Ukrainian economy as a whole make it possible to say that investors are less interested in the domestic banking system, which indicates that it is impossible to increase the number of mergers and acquisitions of domestic banking institutions. It is worth noting that there are currently about 100 banks in Ukraine that are declared insolvent, and a significant amount of non-performing loans can be a serious deterrent to increasing M&A transactions.

scholarly journals From queue to café: Tangerine’s interventions in Canada’s digital banking

2021 ◽  
Author(s):  
Alexandra Khuu
Keyword(s):  
Big Five ◽  
Financial Services ◽  
Banking Industry ◽  
Digital Platforms ◽  
Face To Face ◽  
Banking History ◽  
Visual Semiotics ◽  
Banking Institutions ◽  
To Come ◽  
Banking Institution

Traditionally, banking institutions have relied on face-to-face encounters to provide trusted and credible financial services. However, in today’s digitally-orientated marketplace, this is no longer an exclusive option. In Canada, the banking industry has be resistant to adopt these newer digital platforms and this introduces a number of potential setbacks for the nation’s economic and international interests. At the same time, the unique and emergent Canadian banking institution, Tangerine, has responded positively and productively to the changes. The bank, I argue in this Major Research Paper, thus offers a valuable case study for an analysis of new models of agile banking. By depicting the narrative of Canada’s banking history, investigating industry market documents and reports, then visually analyzing logos and branding strategies using theories from branding and visual semiotics, the MRP provides a comparison of Tangerine’s branding and infrastructure relative to Canada’s ‘Big Five’ banks (BMO, RBC, CIBC, TD, Scotiabank). Compared to the Big Five, Tangerine’s strong leadership, customer loyalty, and integration of digital practices make its intervention in Canada’s banking industry truly disruptive and as such, a model for 21st century banks to come.

scholarly journals From queue to café: Tangerine’s interventions in Canada’s digital banking

2021 ◽  
Author(s):  
Alexandra Khuu
Keyword(s):  
Big Five ◽  
Financial Services ◽  
Banking Industry ◽  
Digital Platforms ◽  
Face To Face ◽  
Banking History ◽  
Visual Semiotics ◽  
Banking Institutions ◽  
To Come ◽  
Banking Institution

Traditionally, banking institutions have relied on face-to-face encounters to provide trusted and credible financial services. However, in today’s digitally-orientated marketplace, this is no longer an exclusive option. In Canada, the banking industry has be resistant to adopt these newer digital platforms and this introduces a number of potential setbacks for the nation’s economic and international interests. At the same time, the unique and emergent Canadian banking institution, Tangerine, has responded positively and productively to the changes. The bank, I argue in this Major Research Paper, thus offers a valuable case study for an analysis of new models of agile banking. By depicting the narrative of Canada’s banking history, investigating industry market documents and reports, then visually analyzing logos and branding strategies using theories from branding and visual semiotics, the MRP provides a comparison of Tangerine’s branding and infrastructure relative to Canada’s ‘Big Five’ banks (BMO, RBC, CIBC, TD, Scotiabank). Compared to the Big Five, Tangerine’s strong leadership, customer loyalty, and integration of digital practices make its intervention in Canada’s banking industry truly disruptive and as such, a model for 21st century banks to come.

scholarly journals Settlement Mechanism of Banking Fraud and the Role of the Financial Services Authority in Indonesia

2021 ◽  
Vol 04 (06) ◽  
Author(s):  
Romi Prayudi ◽  
Keyword(s):  
Financial Services ◽  
Banking Industry ◽  
Banking System ◽  
Technology Infrastructure ◽  
Information Technology Infrastructure ◽  
Technological Developments ◽  
System Data ◽  
Reporting Mechanism ◽  
Investigation Process

The development of technology and digitalization in Indonesia in recent years has been very rapid. In the era of technology disruption, every industry must be ready to adapt to face dynamic changes. The banking industry inevitably has to adapt to existing technological developments. Unfortunately, the developments are also followed by the growth of various frauds in banking. In response to this, Indonesian Financial Services Authority namely Otoritas Jasa Keuangan (OJK) demand banking industry to improve the reliability of Information Technology infrastructure. Several recent cases of mislaid customer funds show several loopholes in the existing banking security system. Customarily, customers who experience similar cases have reported the matter directly to the police authority, which in turn having extensive investigation process. In this paper, authors try to explain the role of OJK in improving the issues settlement, including by improving the banking system. Data is collected from a series of major cases of embezzlement in Indonesian banking and also from Financial Services Regulations to see the role that could be improved. The main conclusions are to report any irregularities to OJK in the first place instead to the police because Financial Services in Indonesia already has its own supervisory agency, and there needs to be massive socialization to customers regarding the reporting mechanism.

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