scholarly journals Digital Technologies in the Russian Banking Sector: Main Features and Associated Risks

2021 ◽  
Vol 2021 (1) ◽  
pp. 136-146
Author(s):  
Natalia Shcherbakova
Keyword(s):  
Customer Service ◽  
Digital Signature ◽  
Systematic Approach ◽  
Banking Sector ◽  
New Technologies ◽  
Digital Technologies ◽  
Blockchain Technology ◽  
New Information ◽  
Methodological Approaches ◽  
The Internet Of Things

The present paper features Russian loan banks that use new information and digital banking technologies. The research involved various methodological approaches, including a systematic approach to the analysis of modern banks. The method of comparative analysis made it possible to interpret various indicators of the activities of loan banks. The method of dynamic analysis helped to identify the main trends in the development of the Russian banking sector. The research objective was to identify the main trends and key problems in the digitalization of the Russian banking sector and the risks that accompany the process. The author believes that digital technologies will increase the country's competitiveness and boost its economic development. Digital economy involves the introduction of new technologies in the banking sector, e.g. e-money, digital signature, contactless payment, blockchain technology, the Internet of things, etc. The usual approaches to customer service are being replaced by advanced practices, as the traditional bank is gradually turning into a multifunctional IT company. However, cyber risks are also growing, and their management requires new approaches.

Blockchain Technology: Opportunities and Challenges for Small and Large Banks During COVID-19

2021 ◽  
pp. 2140001
Author(s):  
Grazia Dicuonzo ◽  
Francesca Donofrio ◽  
Antonio Fusco ◽  
Vittorio Dell’Atti
Keyword(s):  
International Institutions ◽  
Business Processes ◽  
Banking Sector ◽  
New Technologies ◽  
Social Systems ◽  
Emerging Technology ◽  
Case Study Methodology ◽  
Blockchain Technology ◽  
Study Methodology

New technologies are assuming a prominent role in the transformation of economic and social systems and are capturing the interest of many businesses and international institutions. Blockchain is an emerging technology that is relevant in all sectors, as its applications can be adapted to multiple contexts with possible significant advantages for business. The ability to perform transactions without a central entity acting as a trust guarantor, typical of blockchain, offers the opportunity to rethink the way business processes are managed. Based on the case study methodology, this work aims to understand how blockchain could affect the business model in the banking sector and how the COVID-19 pandemic impacts the implementation of blockchain.

DENA BANK — Competing with Private and Foreign Banks

2007 ◽  
Vol 11 (01) ◽  
pp. 117-139 ◽  
Author(s):  
Amit Sachan ◽  
Anwar Ali ◽  
Rajen K. Gupta
Keyword(s):  
Customer Service ◽  
Service Sector ◽  
Banking Sector ◽  
New Technologies ◽  
External Environment ◽  
Foreign Banks ◽  
Strategic Responses ◽  
The Core ◽  
Technology Revolution ◽  
Liberalization Policy

Since 1995 with the increasing importance of the service sector, liberalization policy and information technology revolution, the banking sector as a whole had undergone significant changes in India. The case presents a brief outline of the developments which happened in the Indian banking sector and discusses Dena Bank's efforts in the last decade in the area of customer service. The case explores how customers interacted with banks, how banks made money, how external environment was changing the core activities and core assets of banks in India and the opportunities and challenges arising out of all these. The case ends with the question on what Dena's strategy should be in response to the new competition and new technologies. The case is useful in looking at strategic responses to changes.

scholarly journals The Current State and Prospects of Banking Innovations in the Context of Improving the Quality of Customer Service

2021 ◽  
Vol 4 (519) ◽  
pp. 204-209
Author(s):  
V. Y. Volokhata ◽  
Keyword(s):  
Development Strategy ◽  
Customer Service ◽  
Banking Sector ◽  
New Technologies ◽  
Goods And Services ◽  
Current State ◽  
National Bank ◽  
Domestic Banks ◽  
Effective Development

In the context of globalization of the unstable situation in the financial market, the coronavirus pandemic, strengthened interbank competition, lack of financial resources and increasing their value, raising standards by the National Bank of Ukraine, it is imperative to improve the banking business management system by introducing innovations in the form of the use of new technologies that are adequate in view of development strategies and new banking products. That is why innovative development becomes the driving force of the efficiency of the banking sector’s activity. The article is aimed at evaluating the current state of innovative banking technologies and prospects for their development in Ukraine in the context of improving the quality of customer service. Priority directions of innovations for effective development of banking institutions and ways of their solution are defined. When analyzing trends in innovative activities of domestic banks, the major ones are identified. The most popular innovative products in the domestic banking market are listed and their characterizations are provided. A detailed analysis of normative and legislative acts is carried out, determining the prospects for the development of innovations in the banking sector in the near future and by 2025, such as: FinTech development strategy 2025; electronic payment system at the National Bank (EFT) in the 23/7 regime; service of sharing of digital documents; procedure for using a digital handwritten signature; creation and use of QR codes for credit transfers and when paying for goods and services; change of remote identification and verification of bank customers, etc.

scholarly journals Prospects for the application of biometrics in the Polish banking sector

Equilibrium ◽  
2017 ◽  
Vol 12 (3) ◽  
Author(s):  
Anna Iwona Piotrowska ◽  
Michał Polasik ◽  
Dariusz Piotrowski
Keyword(s):  
Customer Service ◽  
Banking Sector ◽  
New Technologies ◽  
Value Added ◽  
Identity Verification ◽  
It Systems ◽  
Provision Of Services ◽  
Two Factors ◽  
Voice Biometrics ◽  
Service Channels

Research background: The ongoing digitisation process in the banking sector, coupled with widespread remote provision of services, is leading to the advent of new solutions in the field of broadly understood security. The increasingly sophisticated forms of attacks on banks’ IT systems and their users have engendered the need to implement authentication methods that would ensure high security levels, but would also be convenient for banks' clients and suited to the requirements of mass service. Biometric technology seems to be a solution to this issue. The two factors that may boost its proliferation are: the fact that banks need to adjust to more rigid regulations, and technological advancements leading to cost reduction and increased availability of biometric solutions in mobile devices. Purpose of the article: The purpose of the article is to assess the prospects for the application of biometrics by the banking sector in Poland in individual customer service channels. Methods: The basis for theoretical considerations comprises the analysis of literature on authentication techniques and research on the processes whereby consumers accept new technologies. The empirical part of the paper was based on the results of the authors’ questionnaire survey among representatives of the Polish banking sector. Findings & value added: The banking sector in Poland is on the verge of a sweeping bio-metric revolution in the coming years, because most traditional identity verification and authorisation methods currently available in banking do not comply with strict security and user convenience requirements and RTS regulations. Biometric technologies will be of use in all customer service channels, with the experts indicating authentication in bank branches, ATMs, and mobile banking as the primary implementation areas. Solutions which are most likely to be applied are those based on biometrics of fingerprints and finger veins, as well as voice biometrics.

scholarly journals THE ESSENCE OF BLOCKCHAIN TECHNOLOGY AND ITS APPLICATION IN THE FINANCIAL SPHERE

2021 ◽  
Author(s):  
Viktor Stepura
Keyword(s):  
Business Processes ◽  
Banking Sector ◽  
New Technologies ◽  
Distributed Database ◽  
Smart Contracts ◽  
Process Step ◽  
Customer Data ◽  
Legal Norms ◽  
Theoretical Substantiation ◽  
Blockchain Technology

The constant demand of society to improve the speed and security of business processes is the driving force behind the emergence of new technologies and solutions, one of which is the blockchain. The article provides a theoretical substantiation of the essence of blockchain technology as an economic category. The object and subjects of the blockchain are defined, its inherent functions and principles are formed. The article also proposes an approach to the classification of blockchain types, all this allows a comprehensive approach to the study of the process of using blockchain technology in the financial sphere. The paper describes and reveals the blockchain process step by step. The process is described in a universal way, suitable for working with any projects based on a distributed database. The article provides examples of the use of blockchain technology in various areas of financial activity. In the banking sector, blockchain can improve the security and speed of domestic and international payments, and such payments will also be practically free for the parties. In insurance, the introduction of blockchain technology will help companies instantly exchange customer data, and the use of smart contracts will speed up the work with insurance policies. Thanks to the blockchain in accounting, information about transactions, contracts, etc. will be recorded in the general register in real time, so the verification of compliance with legal norms will occur automatically. This will significantly increase the operational efficiency of organizations. The use of blockchain in audit will make this process more transparent, and the time of its implementation will be significantly reduced due to reliable and up-to-date accounting records between counterparties. In the securities market, the blockchain will digitize securities, which will increase their liquidity, as well as help to better comply with the law, and will allow flexible transfer and accounting of ownership of such assets. In working with smart contracts, thanks to the code running on the blockchain, the contract can be executed automatically. At the end of the article, the conclusions are formed and the forecast of the development of the blockchain market for the coming years is given.

The history of blockchain technology and cryptocurrency market development

2021 ◽  
Vol 27 (4) ◽  
pp. 740-762
Author(s):  
Larisa A. CHALDAEVA` ◽  
Arsenii A. DANILIN
Keyword(s):  
Banking Sector ◽  
New Technologies ◽  
Market Development ◽  
Progressive Development ◽  
The Past ◽  
Digital Currency ◽  
Blockchain Technology ◽  
History Of ◽  
Market Infrastructure ◽  
Digital Assets

Subject. The article addresses the cryptocurrency market that originates from the creation of the world's first cryptocurrency, i.e. Bitcoin. It overviews the blockchain technology and mining procedures for the digital currency. Objectives. The purpose of the study is to evaluate trends in the cryptocurrency market within the historical aspects, perform a profound analysis of digital assets terminology, including the concept of forks, tokens and altcoins, investigate changes in the Bitcoin and alternative cryptocurrency market by analyzing the Bitcoin Dominance Index, which has suffered significant fluctuations over the past five years. Methods. The study rests on the systems analysis of conceptual framework, the design of classification criteria, the functional, structural, statistical, graphical, and economic analysis. Results. The findings enabled to identify growth drivers for world’s cryptocurrency trading platforms. The growth primarily relates to the progressive development of the cryptocurrency market infrastructure. Other factors include the extended usage of stablecoins on the world’s biggest crypto exchanges. Conclusions. The paper provides a detailed consideration of changes in the cryptocurrency market development, which are divided into three main stages. The cryptocurrency community appreciates blockchain projects that have introduced new technologies. The most popular projects are implemented in the banking sector or used in the interaction between the cryptocurrency industry and traditional fiat currencies.

Brand Experience in the Internet of Things

2021 ◽  
pp. 158-181
Author(s):  
Thomas Heinrich Musiolik
Keyword(s):  
Problem Solving ◽  
Internet Of Things ◽  
Customer Service ◽  
Digital Technologies ◽  
The Internet ◽  
Brand Experience ◽  
The Future ◽  
The Internet Of Things

The internet of things, as well as data from connected devices and other digital technologies, can facilitate seamless customer service, rapid problem-solving, and the more efficient deployment of skilled resources – they can offer unique and emotional brand experiences. This chapter discusses what experiences are, how the promise of experience is made, how to develop an experience interface (ExI), and why it will be in the future critical to the success of brand experiences in the internet of things.

scholarly journals Digital Opportunities and Threats of Organization in New Economy

2021 ◽  
pp. 66-75
Author(s):  
O. E. Kalenov
Keyword(s):  
Systems Analysis ◽  
New Technologies ◽  
Digital Technologies ◽  
New Economy ◽  
The Internet ◽  
Physical Systems ◽  
Digital Era ◽  
The Subject ◽  
The Internet Of Things ◽  
Industrial Revolutions

The subject of the research presented by the article is opportunities and threats for the organization, which are carried by digital era. The author provides characteristic of the three industrial revolutions that already took place and describes prospects of the fourth one that we witness right now. Its foundation is formed by interaction of industrial and digital technologies and its precondition is mass spread of the Internet. The article gives a list of key technologies, whose combination could seriously raise the efficiency of organization work. It includes the Internet of things, mobile devices and applications, cloud calculations, cyber-physical systems, analysis of big data and new industrial technologies. The author divides digital opportunities into 4 groups: industrial, market, logistic and organizational-managerial. It is also underlined that besides vast opportunities digitalization implies threats: socialeconomic, technological, ecological and informational. Principle problems, which hinder home organizations to integrate into digital economy, were studied. At the same time the level of using new technologies by Russian enterprises and index of business digitalization were analyzed. In conclusion the author substantiates the necessity to introduce digital technologies to ensure competitiveness of companies in new economy.

Technological Innovation and Smart Resiliency Strategies in Supply Chain Management

2020 ◽  
Vol 11 (3) ◽  
pp. 11-22
Author(s):  
Orna T Bradley-Swanson ◽  
Darrell Norman Burrell
Keyword(s):  
Supply Chain ◽  
Supply Chain Management ◽  
Customer Service ◽  
Inventory Management ◽  
Technological Innovation ◽  
Information Technologies ◽  
New Technologies ◽  
Chain Management ◽  
Supply Chain Resilience ◽  
New Information

When it comes to supply chain management, innovations and new information technologies have the potential to improve organizational supply chain resilience, enhance customer service, cut costs, reduce risks, augment quality management, enrich reliability, and advance efficiency in smart and significant ways. Demand aggregation, inventory management, logistics preparation, and supply chain threats are just a few areas that have become managed more efficiently and effectively through the use of new technologies that improve communication and information distribution throughout a firm and its network to make it both smart, efficient, and adaptive. This article explores technological innovation as a smart resiliency strategy in supply chain management through a review of the literature.

Performance Evaluation of Customer service in selected Indian commercial banks

2019 ◽  
Vol 118 (3) ◽  
pp. 123-136
Author(s):  
R. Thamilselvan ◽  
J. Kumar
Keyword(s):  
Performance Evaluation ◽  
Service Quality ◽  
Customer Service ◽  
Commercial Banks ◽  
Banking Sector ◽  
New Technologies ◽  
Service Industries ◽  
Banking Organization ◽  
Significant Difference ◽  
Fierce Competition

The banking industry like many  financial service industries is facing a rapidly changing market, new technologies, economic uncertainties, fierce competition, and especially more demanding customers, and the changing climate has presented an unprecedented set of challenges.  Performance evaluation of customer service is one integral part of any facet of banking and it defines future of any banking organization. In banking sector, the whole range of activity and generation of income swivels around the customer. From a very comfortable and peaceful environment, now the Indian Banking Sector is characterized by stiff competition for the customer’s satisfaction and profits war between different banking groups i.e. this paper tries to analyze the performance evaluation of customer service in selected Indian commercial banks. This study is just a small step in understanding the multi dimensional construct of customer service quality and its implications in today’s competitive environment. There is no significant difference in opinion among the customers about confidence building and technology augmentation aspect of Customer service quality. It is concluded that the performance evaluation of  customers are more satisfied than the customers of Indian commercial banks and there is a strong bondage between expectations, level of satisfaction and customer loyalty in banks.

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