scholarly journals CYBERSECURITY OF THE BANKING SYSTEM AND ETHICAL RULES OF THE INTERACTION BETWEEN A MAN AND ARTIFICIAL INTELLIGENCE: ON THE NEED FOR CO-EXISTENCE

Banking law ◽  
2021 ◽  
Vol 1 ◽  
pp. 47-62
Author(s):  
Anna V. Popova ◽  
Keyword(s):  
Artificial Intelligence ◽  
Intelligent Systems ◽  
Banking Sector ◽  
Scientific Literature ◽  
Banking System ◽  
Social Engineering ◽  
Human Interaction ◽  
Ethical Standards ◽  
Economic Relations ◽  
Stage Of Development

The author of the article, based on comparative analysis legal regulations and scientific literature in the field of cybersecurity, comes to the conclusion that at the present stage of development of economic relations, there is an urgent need to establish ethical standards for human interaction and automated intelligent systems based on artificial intelligence. The article analyzes the concept of cybersecurity in its difference from information security; positive and negative features of the use of AI in the banking sector of the economy. The article focuses on social engineering in preventing cyber threats and offers a list of ethical principles in their content constant.

State and tendencies of development of the banking system in the context of structural reform of the national economy of Ukraine

2020 ◽  
Vol 23 (12) ◽  
pp. 84-98
Author(s):  
Marta Barna ◽  
Nadiya Ruschyshyn
Keyword(s):  
National Economy ◽  
Government Regulation ◽  
Structural Changes ◽  
Banking Sector ◽  
Banking System ◽  
Bank Lending ◽  
The State ◽  
Structural Reform ◽  
Bank Capital ◽  
Stage Of Development

The relevance of the study lies in the fact that the fulfilment of the potential of the banking system is capable of providing positive structural changes in the economy of Ukraine. The purpose of the study is to analyse the state and trends of the banking system of Ukraine in the focus of its impact on the structural reform of the national economy. The study used methods of statistical analysis (to analyse the state and dynamics of the banking system) and the analogue method (to identify the extent of the development of the banking system on structural changes in the economy). It was substantiated that the effective functioning of the banking system is key to successful economic development of the national economy, in particular its reform. It is proved that a mechanism of redistribution of financial resources and money acts through the banking system; therefore, they are mobilised and involved in economic circulation in those sectors of the economy that need it most. The state and trends of development of the banking system as preconditions of fulfilment of its potential in structural reform of national economy are generalised. As a result of the analysis of the state and trends of the banking system, both their positive and negative features were identified. It is proved that in Ukraine, at the present stage of development of the national economy, the banking system has been cleared of low-liquid and conditionally fictitious banking structures, the volumes of assets, in particular highly liquid ones, are growing, and the loan portfolio of banks is improving, their financial results, liquidity and solvency, resistance to currency shocks, bank lending to the economy increase. The study also demonstrated that the country's banking system is described by a number of systemic shortcomings, especially the high level of concentration of bank capital and deposits in the largest banks, as well as state banks in a number of segments of the banking sector by number of departments, ATMs, terminals, active payment cards. There is a trend to weaken the penetration of the banking sector into the economy, especially in terms of affordable lending to individuals and strategic sectors of the economy. The practical value of the study lies in the fact that based on the identified shortcomings of the banking system and its impact on structural reforms, strategic lines of work for improving government regulation in this area have been identified

scholarly journals LIQUIDITY RISK AND ITS MANAGEMENT IN LITHUANIAN BANKING SYSTEM / LLIKVIDUMO RIZIKA IR JOS VALDYMAS LIETUVOS BANKŲ SISTEMOJE

2014 ◽  
Vol 6 (1) ◽  
pp. 64-71
Author(s):  
Erika Bareikaitė ◽  
Raimonda Martinkutė-Kaulienė
Keyword(s):  
Commercial Banks ◽  
Main Part ◽  
Banking Sector ◽  
Scientific Literature ◽  
Banking System ◽  
Liquidity Risk ◽  
Research Synthesis ◽  
Economic Stability ◽  
Management Tools ◽  
Management Processes

Banks are the main part of financial sector in each economy and strength of banking system becomes vital for ensuringfavourable economic stability and growth. Recent failure of two commercial banks in Lithuania showed that managershaven’t evaluated liquidity risk or haven’t dealt with it properly. The tasks of the paper are to investigate Lithuanian banksposition towards liquidity risk, analyse what kind of management tools banks use for ensuring favourable position towardsliquidity and to explore the liquidity influence to profitability in Lithuanian banking sector. The article examines liquidity andits management processes in Lithuanian banking sector. Description of liquidity importance is presented. Liquidity risk and itsmeasurement as well as the ways of managing the above mentioned risk is analysed in the article. In order to analyse the relationshipbetween liquidity risk and profitability of banks, analysis of scientific literature, research synthesis and generalizationshave been made. Išanalizuota likvidumo svarba ir jo įtaka Lietuvos bankų veiklai.Išnagrinėti ir pateikti likvidumo vadybos bei valdymo Lietuvosbankininkystės sektoriuje principai. Likvidumo svarbos analizėpateikta ir apibendrintai, remiantis istoriniais įvykiais bei mokslinėsliteratūros apžvalga. Išnagrinėtos skirtinguose šaltiniuosevartojamos likvidumo sąvokos. Pateikta likvidumo rizikos irjos valdymo būdų apžvalga, aprašyti likvidumo vertinimo komponentai.Iškeltos ir aprašytos hipotezės ryšiui tarp likvidumoir pelningumo nustatyti bei pateikta siūlymų tolesniam tyrimui.

scholarly journals Banking System of Ukraine under Conditions of Overcoming the Consequences of 2008 Global Crisis

2010 ◽  
Author(s):  
Valentina Orlova
Keyword(s):  
Market Economy ◽  
Banking Sector ◽  
Foreign Currency ◽  
Banking System ◽  
Cash Flows ◽  
Economic Relations ◽  
History Of ◽  
The Government ◽  
In The Beginning ◽  
Further Development

In the modern market models state banking system plays the most significant role in the functioning of economic mechanism. It ensures control of total money supply, regulates movement of cash flows, and realizes accumulation and investment of financial resources, crediting different trades and people. In transition from socialist model of economics to market economy a precondition for the start of reformation of economic relations is multi-branch state banking system. In the beginning of 1990-s creation of such banking system began in Ukraine. However, crisis situation in economics that developed in 2008 has shown how imperfect and unadapted to the regularities of market economy was banking system in Ukraine. Now Ukrainian economics like world economy is recovering. However, the problem of growing treasury deficit and national debt becomes issue of the day for the Government as drastic, not predicted variations of foreign currency are able to make an impact on loan market. The article describes history of building Ukrainian banking system starting from market reforms. It gives analysis of the reasons that have caused collapse of the banking system under conditions of the global economic crisis of 2008. It also evaluates prospects for further development of banking sector in Ukraine.

scholarly journals Factors Influencing Private Customers′ Trust in Internet Banking: Case of Latvia

2017 ◽  
Vol 14 (1) ◽  
pp. 50-57
Author(s):  
Viktorija Skvarciany
Keyword(s):  
Banking Sector ◽  
Scientific Literature ◽  
Banking System ◽  
Internet Banking ◽  
Banking Services ◽  
Correlation And Regression Analysis ◽  
The Past ◽  
Factors Influencing ◽  
The Impact ◽  
Vital Factor

Abstract Banking sector has developed and extended the usage of online services in the past decade. In fact, nowadays, Internet-based banking services dominate over other historically provided alternatives. This article discusses private clients′ trust in Internet banking in Latvia. The model of trust in Internet banking was developed based on four factors, distinguished in the scientific literature. They are provided information, bank’s characteristics, ebanking system and website of a bank. Hence, the goal of the research is to measure the impact of distinguished factors on trust in Internet banking. In order to determine how these attributes affect private customers′ trust, correlation and regression analysis were applied. The results showed that the most vital factor affecting private clients’ trust in Internet banking is e-banking system. What is more, it was found that provided information is a statistically insignificant factor and, hence, it was removed from the model. Respondents, being private customers, limit the breadth of study, thus the results do not reflect companies’ trust in Internet banking.

scholarly journals Financial Technology: Development of Innovative Fintech Start-Ups and Its Application in Banking System of Uzbekistan

2021 ◽  
Vol 8 (9) ◽  
pp. 214
Author(s):  
Shamsiddin Amanullaevich Allayarov ◽  
Maktuba Ravshanova
Keyword(s):  
Financial Stability ◽  
Banking Sector ◽  
Technology Development ◽  
Banking System ◽  
Industrial Sector ◽  
Economic Relations ◽  
Banking Market ◽  
Economic Growth Rates ◽  
Start Ups ◽  
Financial Technology

In the context of globalization, labor migration, trade and capital movements, tourism, foreign investment, IT are affected by the economic growth rates of countries. Periodic disclosure of reforms in the new Uzbekistan, the beginning of socio-economic relations provided opportunities for modernization, technical and technological re-equipment of the industrial sector. In particular, the need for financial technology in commercial banks is important to conduct research in this area. The influence of fintech is beginning to be felt in the banking sector and capital markets. This article surveys its development and its impact on efficiency, banking market structure, strategies of incumbents and entrants, and financial stability.

scholarly journals Artificial intelligence as a technology of the future at the present stage of development of society

2021 ◽  
Vol 7 (Extra-D) ◽  
pp. 391-397
Author(s):  
Maksym Iasechko ◽  
Mykhailo Kharlamov ◽  
Hanna Skrypchuk ◽  
Kateryna Fadyeyeva ◽  
Lіydmyla Gontarenko ◽  
...  
Keyword(s):  
Artificial Intelligence ◽  
Knowledge Representation ◽  
Computer Technology ◽  
Intelligent Systems ◽  
Present Stage ◽  
Stage Of Development ◽  
Intellectual System ◽  
The Future ◽  
And Training

The article establishes that the vector of research in the field of artificial intelligence is aimed at developing methods of formalization, generalization, classification, knowledge representation; study and formalization of reasoning, their modeling; research of communication, the specifics of the dialogue between the intellectual system and the person; development of algorithms for the operation of computer technology and training of intelligent systems.

scholarly journals Human fActor

2021 ◽  
Vol 11 (1) ◽  
pp. 8-19
Author(s):  
V.A. Soifer ◽  
Keyword(s):  
Artificial Intelligence ◽  
Intelligent Systems ◽  
Information Technologies ◽  
Industrial Revolution ◽  
Industrial Society ◽  
Digital World ◽  
Leading Role ◽  
Stage Of Development ◽  
Technological Advances ◽  
Human Actors

We live in the era of the fourth industrial revolution and the natural question to ask are: 'What is next? Who will play a leading role in the new digital world – artificial intelligence (AI) or the humans?' In the search for answers, we need to make a short trip back in history. Technological advances have always led to changes in the social and economic struc-ture: harnessing the power of water and steam, mankind leapt from the hunter society to the agricultural society. The discovery of the electric power and conveyers paved way for the transition to the industrial society. With electronic information technologies, we have found ourselves at the modern stage of development, which is information society. What is the next step? While Industry 4.0 was concerned with the automation of physical & technical processes, the latest trends of Society 5.0 are mostly oriented toward the automation of 'thinking' processes and the human collabora-tion with intelligent systems. Artificial intelligence and the universal 'digitalization' are intended to promote the achievement of the main goals – an increase in life expectancy, improvement of the quality of life, and the emergence of human 'actors' who create the intellectual property objects, which are then materialized by means of cyber-physical systems.

scholarly journals Foreign Banks in China: Start of a New Stage

2021 ◽  
Vol 65 (6) ◽  
pp. 71-78
Author(s):  
A. Vdovin
Keyword(s):  
Development Policy ◽  
Banking Sector ◽  
Foreign Capital ◽  
Banking System ◽  
Foreign Banks ◽  
Stage Of Development ◽  
Recent Developments ◽  
The Impact ◽  
Development Prospects ◽  
Foreign Banking

Received 16.10.2020. The article examines the most recent developments in the evolution of the foreign banks in China. Author provides a brief description of the stages of development of foreign banks in the PRC since the start of the Den Xiaopin’s Reform and Development policy till the present time. The change in assets of foreign banks for the last 15 years is analyzed in details. A comparison of assets of foreign banks with the assets of the China banking system is provided in a form of analytical graph. The author’s assessments of the foreign banking sector over the past ten years give grounds to conclude that there was a stagnation in the development of the foreign banks sector during this period. The recent steps of the Chinese authorities to liberalize the foreign banking sector are analyzed in detail. The author examines the Chinese leader’s systematic approach to the banking reforms and comes to the idea that it consists of three components: the change in the political vision and attitudes, the institution reform of the banking regulators and the reform of banking legislation. An assessment of the impact of liberalization on the development prospects of foreign capital banks is also given. Based on an analysis of the overall scale and impact of recent reforms in the foreign banking sector, the author concludes that a new stage in the development of foreign capital banks in China is likely to begin. The main problems and challenges that foreign banks in China will have to face at a new stage of development are also identified and described.

Enhancing Islamic Banking and Finance in Southeast Asia Through the Application of Artificial Intelligence

2020 ◽  
pp. 36-53
Author(s):  
Nor Razinah Mohd. Zain ◽  
Rusni Hassan ◽  
Azman Ismail
Keyword(s):  
Artificial Intelligence ◽  
Southeast Asia ◽  
Financial Services ◽  
Banking Sector ◽  
Banking System ◽  
Islamic Banking ◽  
Financial Services Industry ◽  
Positive Trend ◽  
Banking And Finance ◽  
Services Industry

The disruption of innovations in the banking sector continues to indicate a positive trend among bankers and customers. The innovations of technology that stand with speediness and fast track transaction effectively support the spread in using banking system without barriers. Recently, the financial services industry continues to be surprised by the latest technology's innovation that is known as artificial intelligence. By looking into the ecosystem for the future sustainability of Islamic banking and finance in Southeast Asia, Islamic financial services may learn and adopt several best practices of A.I. from global banking practices. With a focus on the Islamic financial services industry in Southeast Asia, an exploration on the readiness of such industry and advantages of artificial intelligence are made. This research depends on the qualitative investigation from documentary materials. The leadership of Islamic banks shows their readiness in accepting artificial intelligence.

scholarly journals Implications of Implementation of Artificial Intelligence in the Banking Business in Relation to the Human Factor

2020 ◽  
Vol 19 (1) ◽  
Author(s):  
Krunoslav Ris ◽  
Željko Stanković ◽  
Zoran Ž. Avramović
Keyword(s):  
Artificial Intelligence ◽  
Business Process ◽  
Banking Sector ◽  
Banking System ◽  
Learning Technology ◽  
Legacy System ◽  
Banking Business ◽  
Management Institutions ◽  
The Impact ◽  
Number Of Customers

The banks are known as monetary management institutions because they deal with money. There is a number of customers that a bank daily interacts with. In this technology era, when everything is moving to automation from the beginning step to final product manufacture, medical checkups, medical reports, and evaluation, the banking system is still working on the legacy system. Instead, with the participation and implementation of new Virtual Assistant-powered with AI and Machine Learning technology in the banking sector, the institutions are again using the legacy system or may be bound to use the legacy system. This research will help to elaborate and emphasize the impact of the implementation of automation, using artificial intelligence in the banking business process. This research will be based on the quantitative as well model base prof of system performance using different analytical tools like SPSS. This automation process will help the institutions to enhance profitability, performance, and reduce human dependency. In a nutshell, Virtual Assistants powered with Artificial Intelligence will improve the business process performance in every sector of business, especially the banking sector.

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