scholarly journals Key Trends and Regulations of the Development of Digital business Models of banking services in Industry 4.0

2021 ◽  
Vol 25 (5) ◽  
pp. 59-78
Author(s):  
M. N. Dudin ◽  
S. V. Shkodinskii ◽  
D. I. Usmanov
Keyword(s):  
Industry 4.0 ◽  
Business Models ◽  
Banking Sector ◽  
Retail Banking ◽  
Banking Services ◽  
Digital Business Models ◽  
Banking Market ◽  
The World ◽  
Stable Growth ◽  
The Impact

The subject of the research is trends in the implementation of digital technologies in the banking sector. The relevance of the paper is due to the objective processes of global digital intervention of technologies in all spheres of human life and society. The research aims to identify, systematize and generalize key trends and regulations in the development of digital business models of banking services in Industry 4.0. For the first time, the authors identified and systematized modern trends and regulations in the development of digital business models of banking services in Industry 4.0, offered their own conceptual vision of the concept of “digital business model of banking services”. The authors apply general scientific, philosophical, analytical, statistical, problem chronological and historical-genetic methods, as well as methods of expert assessments. The article summarizes the main stages of the evolution of business models of the banking sector, reveals substantive and methodological differences between traditional remote banking services and digital banking, highlights the main business models for organizing digital banking; provides up-to-date data on the level of development of digital banking in the main geographic zones of the world; shows the dynamics and key areas of investment in the fintech industry in 2014–2019 and provides a critical analysis of their conditions; identifies problematic aspects of the development of digital business models of banking; describes the functionality of the main digital business models of Russian banks with the author’s assessment of their capabilities and examples of their use in Russian practice. The authors conclude that the main drivers of digitalization of the banking sector are stable growth of non-cash payments in the world and in Russia; stable growth of the global digital banking market; the impact of the COVID-19 pandemic on the active demand of consumers of remote financial services; increased competition in the retail banking market; and a significant decrease in margins for traditional banking products. Identification and systematization of trends and regulations in the implementation of digital business models of banking services can form the basis for further analysis of the specifics of digitalization and personalization of digital banking in Industry 4.0 for the sustainable socio-economic development of the country in terms of possible advantages and threats to the security of financial resources and personal data of customers.

scholarly journals The competitiveness of Ukraine’s banks in the world banking market

2018 ◽  
pp. 81-98
Author(s):  
Yevheniia Voinova
Keyword(s):  
Banking Sector ◽  
Foreign Capital ◽  
Internet Banking ◽  
Global Market ◽  
Banking Services ◽  
Banking Market ◽  
The World ◽  
Start Ups ◽  
Regional Banks

The article examines the market of banking services in Ukraine through comparing indicators of competitiveness of Ukrainian banks and banks with foreign capital in the domestic market and global market. Taking into account the network-type structure of banks, six groups of banks are determined according to the degree of branching, namely: systemically important banks, all-Ukrainian equilibrium banks, all-Ukrainian concentrated banks, regional banks, local individual banks, closed banks. A particular emphasis is placed on a range of banking services and pricing policies of banks groups. The classification of factors developed by M. Yokoi-Arai and N. Yoshino is used in order to assess the competitiveness of Ukraine’s banks in terms of effectiveness and volume of services provided, information technology and resource management. About fifty indicators of banking activites performed by groups of banks with domestic and foreign capital are compared, and also best-performing banks in these groups are described based on the analysis of 82 operating banks in Ukraine. The article presents evidence that, under current conditions in Ukraine, banks with domestic and foreign capital are represented in all categories of banking services. It is pointed out that the highest competitiveness of Ukraine’s banks is observed in developing the network of ATM terminals, promoting Internet banking and, thus, a wide coverage of banking services. It is noted that Ukraine’s banks are less competitive in providing services for big businesses, international companies, funding projects, innovations and start-ups. The findings of the research paper can be useful for educational purposes as well as for professionals in the banking sector.

scholarly journals Transformation of the world job market in the conditions of the Fourth Industrial Revolution

2021 ◽  
pp. 8-28
Author(s):  
Elena Viktorovna Shirinkina
Keyword(s):  
Industry 4.0 ◽  
Business Models ◽  
Industrial Revolution ◽  
Job Market ◽  
Scientific Publications ◽  
Job Management ◽  
Business News ◽  
Fourth Industrial Revolution ◽  
The World ◽  
The Impact

The relevance of this research is substantiated by the fact that the world job market is currently under the influence of the Fourth Industrial Revolution (Industry 4.0). The goal lies in assessing the impact of cyclic and unexpected trends upon the job market, and thus, the forms of job management and employment functions. In this regard, analysis is conducted on the academic theories in the context of conceptualization of the impact of Industry 4.0 upon the job market and employment functions. The long-term trends in transformation of the job market are determined. The empirical basis of this research is comprised of the statistical data provided by Rosstat and the Ministry of Science and Higher Education of the Russian Federation, as well as the resources of analytical articles and scientific publications, including the materials of international organizations, leading consulting companies, global associations, leading educational institutions, other active participants of global educational environment, and job market experts. An overview is given to the trends that affect the companies, their strategies and business models; the impact of such trends upon the transformation of current professions and the emergence of new professions; skills required for these professions. The scientific novelty lies in substantiation of the concept of skill-biased technical change (SBTC) and the theory of routine-biased technological change (RBTC). The presented materials would allow the companies to combine business news with fundamental training of specialists for going along the new career trajectiory in light of the new technological challenges, which defines the practical value of this research.

scholarly journals FORMATION OF COMPETITIVE ADVANTAGES IN THE BANKING SECTOR THROUGH THE USE OF CORPORATE ENTREPRENEURSHIP TOOLS

2021 ◽  
Vol 9 (4) ◽  
pp. 117-132
Author(s):  
A. N. Kuznetsov
Keyword(s):  
Market Share ◽  
Banking Sector ◽  
Corporate Entrepreneurship ◽  
Operational Efficiency ◽  
Retail Banking ◽  
Competitive Advantages ◽  
Strategic Positioning ◽  
Banking Services ◽  
Banking Market ◽  
Credit Institutions

The competitiveness of credit institutions in the retail banking market lies in their ability to conduct business in this market in order to obtain the highest possible market share and profits. Achieving these goals is linked to the level of operational efficiency and strategic positioning or differentiation of banking services. Consider the tools of corporate entrepreneurship that form competitive advantages in the banking sector.

Open Banking: The Emergence of New Digital Business Models

2020 ◽  
Vol 17 (05) ◽  
pp. 2050033
Author(s):  
Boumediene Ramdani ◽  
Ben Rothwell ◽  
Elias Boukrami
Keyword(s):  
Financial Services ◽  
Business Models ◽  
Banking Sector ◽  
Retail Banking ◽  
Policy Makers ◽  
Innovation Activities ◽  
Digital Business Models ◽  
Innovation Analysis ◽  
The Uk ◽  
Shed Light

Open banking has recently been advanced as a measure to foster competition and innovation in the retail banking sector. Since its introduction in the UK, a number of banks have created new digital business models (BMs) that offer individuals and businesses access to more personalized financial services. Yet, it is still unclear what new entrants (smaller and newer banks) have done to potentially disrupt incumbents (larger and well-established banks). To shed light on the innovations in BMs that have been initiated by digital banks to move away from traditional retail banking BM, seven digital BMs operating in the UK financial sector were examined using the BM innovation analysis framework. Our findings suggest that innovation in the new digital BMs has been achieved by building on the existing retail banking activities, developing new digitally enabled activities, and leveraging open innovation activities. Implications of our findings for researchers, managers and policy makers will be outlined.

scholarly journals The impact of COVID-19 on consumer behavior in retail banking. Evidence from Romania

2020 ◽  
Vol 15 (s1) ◽  
pp. 534-556
Author(s):  
Claudia Gabriela Baicu ◽  
Iuliana Petronela Gârdan ◽  
Daniel Adrian Gârdan ◽  
Gheorghe Epuran
Keyword(s):  
Consumer Behavior ◽  
Global Economy ◽  
Banking Sector ◽  
Financial Education ◽  
Positive Influence ◽  
Retail Banking ◽  
Special Focus ◽  
Mobile Banking ◽  
Banking Services ◽  
The Impact

AbstractThe pandemic COVID-19 has severely affected the global economy. The strict lockdown measures have also changed the daily live, including consumer behavior in retail banking. In this context, the purpose of this paper is to investigate the impact of the COVID-19 crisis on consumer behavior in retail banking, with a special focus on the Romanian banking sector. To achieve our goal, we performed a survey among the Romanian consumers in retail banking, using as research method the field survey based on questionnaire. The final sample comprised 738 valid responses from the metropolitan area retail banking consumers. The research brings a fresh insight on retail banking services consumption during the pandemic and validates a conceptual model regarding the internet and mobile banking services acceptance. The research’ results highlighted, among others, that the variable concerning the perception of the COVID-19 pandemic effect on consumers’ lifestyle has a direct and positive influence on the variable regarding the attitude toward internet and mobile banking services, mediated by other variables like safety of internet and mobile banking use and trust in banks. Several social and managerial implications are also discussed, because it is possible that the tendency to use internet and mobile banking services will prevail even after the post pandemic stage, as new consumption behavior models are developing. Banks in Romania should increase their initiatives to offer financial education courses and online tutorials to familiarize customers with the use of digital channels. Banks should also improve communication with clients and design new products and services to increase the attractiveness of saving process. They should demonstrate flexibility in negotiating lending and refinancing conditions as well.

scholarly journals Impact of the Digital Economy on the Banking Sector

2020 ◽  
Vol 159 ◽  
pp. 04033 ◽  
Author(s):  
Oleg Litvishko ◽  
Kamar Beketova ◽  
Bibigul Akimova ◽  
Assem Azhmukhamedova ◽  
Gulnara Islyam
Keyword(s):  
Theoretical Basis ◽  
Banking Sector ◽  
Banking Industry ◽  
Banking System ◽  
Banking Services ◽  
Foreign Experience ◽  
Banking Activity ◽  
The World ◽  
Main Factors ◽  
The Impact

In the article innovations in banking and foreign experience of digitalization studies. Catalyst of banking activity main factors of development of banking innovations considered as. The study allows us to set the boundaries of the digital banking model, determine the specific features of its activities and banking services to deepen the understanding of the subjects of the banking system of modern features of the development of the banking industry allows. Presented materials identification of the level of development of banking services for orientation and theoretical basis, it may be the digitalization of banking processes in terms of the impact of their activities on the transformation credit organizations and banking systems of countries around the world aimed at improving efficiency promotes coordination.

scholarly journals Assessment of the Impact of Industry 4.0 Technologies on the Economic Growth of the Russian Segment of Rail Transportation

2021 ◽  
Vol 31 (4) ◽  
pp. 431-438
Author(s):  
Ilia Gulyi
Keyword(s):  
Economic Growth ◽  
Industry 4.0 ◽  
Business Models ◽  
Growth Parameters ◽  
Physical Models ◽  
Operating Costs ◽  
Rail Transportation ◽  
Digital Business Models ◽  
The Impact ◽  
Electronic Channels

Formation of cyber-physical models in the economy is perceived as an imperative and the objective reality. However, the issues of developing scientific and methodological support for projects aimed at creating digital business models, namely, economic algorithms for their evaluation, are currently unsolved. The purpose of the study is to work out a system of indicators for assessing the impact of industry 4.0 technologies on economic growth, and further verification of the performance. The empirical base for the study is the reporting documents of the largest national carrier — Russian Railways Holding. The research methods include a descriptive diagnostics, statistic data structuring, a correlation analysis of data, a comparative analysis, and others. The results: the author proposes a system of statistic indicators for assessing the impact of industry 4.0 digital technologies on economic growth parameters, and makes an assessment of these indicators in Russian Railways Holding. Conclusion: investing in a digital business model enhances economic growth, increases marginalization via electronic channels and other means of interaction with the consumer, and provides for optimizing operating costs.

Reflection of Digital Transformation on Corporate Sustainability and a Theoratical Perspective

2020 ◽  
pp. 231-258
Author(s):  
Cemal Zehir ◽  
Burcu Özgül
Keyword(s):  
Natural Resources ◽  
Industry 4.0 ◽  
Business Models ◽  
Corporate Sustainability ◽  
Digital Transformation ◽  
Process Automation ◽  
Digital Business Models ◽  
Industrial Manufacture ◽  
The World ◽  
Theoretical Frame

With its high process automation and digitalization, Industry 4.0 provides new opportunities to actualize more flexible, higher quality, speedy, cheap, and productive manufacturing and services. Containing numerous technology and paradigms, Industry 4.0 is expected to transform the industrial manufacture and society by aiming at economic, social, and environmental gains. The facts that natural resources are running out, lifecycle of the world is diminishing, and society has increasing anxiety on this situation. These have been the propulsive power for the development of Industry 4.0. By means of the technology and innovations that Industry 4.0 brings along, it is clear that it could also contribute to the recent popular and emphasized concept:sustainability. In this chapter, after giving information about the paradigms related with Industry 4.0, the theoretical frame of corporate sustainability and the effect of digital transformation on corporate sustainability have been evaluated. And then, constructing sustainable digital business models and focusing on value proposal have been discussed.

scholarly journals THE IMPACT OF INDUSTRY 4.0 ON THE TRANSFORMATION OF THE BANKING SECTOR

2019 ◽  
Vol 1 (1) ◽  
Author(s):  
Boško Mekinjić
Keyword(s):  
Artificial Intelligence ◽  
Industry 4.0 ◽  
Business Models ◽  
Banking Sector ◽  
Human Factor ◽  
Technological Changes ◽  
Digital Revolution ◽  
Generation Z ◽  
Full Capacity ◽  
The Impact

Industry 4.0 or Digital Revolution ischanging the way we live, changing interactions withclients and companies, which inevitably implies thatboth existing business methods and financial servicesare not exempt from this change. In the bankingworld, accelerated digitalization has made banks intensivelyre-examine traditional business models,which means that they have to respond quickly andefficiently to the demands of their clients while offeringsafe and simple services for use. Security and trust arestill key determinants, and banks have developed innovativebanking services and products over the pastfew years, including secured systems that reliably protectdata and money of clients. However, just like anyindustrial revolution, both Industry 4.0 and its impacton the transformation of the banking sector carrywith themselves both positive and negative consequencesof this transformation. Digitalization of thebanking sector is in full capacity, with the fact that thisprocess also includes other component parts of the Industry4.0, such as blockchain networks, artificial intelligence,IoT, biometrics, cooperation of banks withFinTech companies, preparation of the platform andother services for the Generation Z and other.In this paper, we explore how increased competition,new legislation, and all the changes that camewith digitalization, will affect the banking sector inthe upcoming period, will the banking sector look significantlydifferent in the upcoming years, and will, despiteall technological changes, human factor, trustand security still be the key determinants.

Optimum Structure of the Banking Market: How Many Banks Are Necessary for Russia?

2006 ◽  
pp. 75-92 ◽  
Author(s):  
S. Moiseev
Keyword(s):  
Banking Sector ◽  
Optimum Structure ◽  
Population Number ◽  
The Third ◽  
Banking Market ◽  
The World ◽  
The Usa ◽  
Per Capita ◽  
The Empirical Analysis ◽  
Equilibrium Number

The number of classical banks in the world has reduced. In the majority of countries the number of banks does not exceed 200. The uniqueness of the Russian banking sector is that in this respect it takes the third place in the world after the USA and Germany. The paper reviews the conclusions of the economic theory about the optimum structure of the banking market. The empirical analysis shows that the number of banks in a country is influenced by the size of its territory, population number and GDP per capita. Our econometric estimate is that the equilibrium number of banks in Russia should be in a range of 180-220 units.

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