scholarly journals INNOVATIVE ACTIVITY OF BANKING INSTITUTIONS

2021 ◽  
Author(s):  
Tetiana Gavrilko ◽  
Anastasia Sokol
Keyword(s):  
Best Practices ◽  
Financial Services ◽  
Business Processes ◽  
Customer Orientation ◽  
Filling Station ◽  
Banking Activity ◽  
Innovative Products ◽  
Banking Institutions ◽  
Digital Payments ◽  
Banking Institution

The article studies the essence of the concept of “banking innovation” and concludes that it is expedient to consider it as a set of innovations in different areas of banking activity, leading to the achievement of the goals and a certain economic result. The basic kinds of bank innovations and functions that are inherent in them are analyzed. The most widespread bank innovation products, typical for modern Ukrainian banks are allocated. By the example of JSC CB PrivatBank, the most progressive innovative products of remote banking in Ukraine are considered: Privat24, Kopilka, QR-banking, Smart Filling Station, PhotoCasa, Privat24 to Google Glasses. The concept of full remote banking on the example of “Monobank” which is the first bank of this type in Ukraine is analyzed. The actions of banking institutions under conditions of the corona crisis that led to the growth of demand for remote financial services and consumer activity in the segment of digital payments were analyzed. The article considers the ways banks behave during of crisis phenomena in the society, aimed at optimizing business processes, typing of customer composition and intensifying the process of standardizing existing procedures to ensure integration into online services. Attention was focused on the best practices of domestic banking institutions in strengthening customer orientation, primarily in relation to customers from the segment of small and medium-sized businesses and those who need to solve non-standard problems. Attention was focused on the need to take into account the dynamics of changes in the needs of customers, providing a comfortable and accessible service to build customer loyalty and increase confidence in the banking institution. The comparison of technical support of “classic” banking institutions and fintech companies was made, which allowed to draw conclusions about the factors that can increase the chances of success and increase the level of competitiveness of banking institutions. Determined the directions of innovative activities of domestic banking institutions in terms of enhancing the processes of digitalization and the use of modern financial technologies. The need to strengthen communications with members of the fintech ecosystem, primarily fintech companies and companies operating in the field of big data, was substantiated.

scholarly journals role of technology in improving the financial inclusivity of banking institution: literature research with Indonesian case

2021 ◽  
Vol 4 (1) ◽  
Author(s):  
I Gst Ngr. Alit Asmara Jaya ◽  
Ida Bagus Putu Purbadharmaja
Keyword(s):  
Financial Services ◽  
Financial Institution ◽  
Qualitative Description ◽  
Improve Performance ◽  
Role Of Government ◽  
Banking Institutions ◽  
The Government ◽  
Banking Institution ◽  
Role Of The Government

This article was written to see how technology plays a role in improving the financial inclusiveness of banking institutions and the role of government and regulator as well. Technology that has grown rapidly in recent decades has been able to make rapid progress in the industry and change people's behavior. Technology is becoming an inevitability that encourages progress in the economy. Banking as one of the supporting sectors of the financial institution industry, need to do efforts continuously to develop through innovation in fulfilling the needs of financial services, in order to improve performance with the application of technology. Using the approach of literature review and former empirical study, the author tries to perform qualitative description analysis of technological role in increasing financial inclusiveness of banking institution and role of the government and regulator as well. The results show that technology has an important role in boosting strategy to increase financial inclusiveness through improving financial performance. Regardless of the role of government and regulator to create condusiveness of the such technological role.

scholarly journals INCREASING EFFICIENCY OF THE BANKING INSTITUTIONS ACTIVITY

2018 ◽  
pp. 92-103
Author(s):  
Zhanna DOVHAN
Keyword(s):  
Customer Service ◽  
Business Processes ◽  
Banking Sector ◽  
Banking System ◽  
System Optimization ◽  
System Structure ◽  
Loyalty Programs ◽  
Effective Work ◽  
Banking Activity ◽  
Banking Institutions

Introduction. The problems of banking efficiency improvement have become very important in the conditions of economic instability and the period of increasing competition in banking services market. It is being changed both the banking system structure, and the business processes which were formed in it. Such changes demand the new approaches to reserves searching and banking system optimization objects. The innovation in the banking sector, methods of innovative bank development are the main in modern conditions. The purposeof this article is to identify the need to develop and apply innovative approaches in banking institutions to ensure their effective operation. Results. The article deals with the theoretical and practical principles of ensuring the efficiency of banking activity. It is characterized the main tendencies of the risk manifestation violation of banking activity efficiency. The trends of an effective development and the long-term growth of banking sector nowadays are described. The ways of formation and implementation of the innovative aspects of bank effective work providing system are analyzed. Special attention is paid to the importance of the cooperation between banks and financial companies. Conclusions. The problems of the banking system providing efficiency can be addressed customer service innovative technologies and the new products and services implementation, such as: to use the advanced hardware and software, to increas efficiency of personalization and channel optimization, digital and biometric identification, to use the large data, intellectual property and expanded analytics, credit marketplays, and artificial intelligence, to improv integrated multi-channel delivery and new loyalty programs.

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.

Issues and Challenges Facing Islamic Banks and MSME in Financial Inclusion in Indonesia

2021 ◽  
pp. 308-325
Author(s):  
Adi Saifurrahman ◽  
Salina Kassim
Keyword(s):  
Financial Services ◽  
Developing Nations ◽  
Primary Objective ◽  
Financial Inclusion ◽  
Islamic Banking ◽  
Critical Issues ◽  
Banking Institutions ◽  
Banking Institution

Financial inclusion has become an important policy for many countries, including the developed and developing nations. Financial inclusion realisation is promoted by the easy and convenient access to financial services, quality of financial services, and efficient and effective utilisation by all segment of society, delivered with fairness and zero discrimination. The achievement of financial inclusion is supported by essential pillars that are interconnected with each other and form a composite economy ecosystem to ensure stability and sustainable development. One of these critical pillars is micro, small, and medium-sized enterprises (MSMEs); the development of MSMEs pillar is deemed crucial due to its capability in absorbing more considerable workforce compared to larger enterprises and contributes significantly to the gross domestic product (GDP). Therefore, the growth of MSMEs pillar will surely reduce poverty, lessen the unemployment, and lower the income disparity. In this respect, since Islamic banking represents the core of the Islamic financial system that encourages entrepreneurship, the institution is expected to take the lead in serving the needs of MSMEs sector and assisting them from all types of financial constraints. The primary objective of this chapter is to explore and investigate the critical issues and challenges of MSMEs financial inclusion achievement through the role of Islamic banking institutions, particularly in Indonesia. The chapter suggests several problems that hamper the role of the Indonesian Islamic banking institution in serving the needs of MSMEs and numerous issues and challenges in achieving MSMEs financial inclusion.

scholarly journals ENSURING FINANCIAL PERFORMANCE OF BANKS IN THE TRANSITION TOWARDS THE ECOSYSTEM

2021 ◽  
Vol 1 (49) ◽  
pp. 23-35
Author(s):  
Tetiana Girchenko ◽  
Nataliia Konovalenko ◽  
Nataliia Cherikovska
Keyword(s):  
Financial Market ◽  
Business Models ◽  
Innovation Process ◽  
Dynamic Feedback ◽  
Efficient Operation ◽  
Long Run ◽  
Banking Activity ◽  
Innovative Products ◽  
Banking Institutions ◽  
The Cost

Banks still play a key role in monetary transactions, but at the present stage their role for customers is declining. In the near future, many agreements may not require the involvement of an intermediary. Therefore, banks need to rethink their business models and find new ways to stay relevant to their customers. Despite the development of fintech companies, banking and, moreover, the financial market will not disappear, but we can conclude that the reasons for the preservation and, consequently, the direction of transformation of the financial market will be different. Banking institutions need to build a new model of customer relations to establish trusting relationships, on the basis of which continuous business growth is possible. The introduction of banking ecosystems is inevitable, and Ukraine has great potential in this direction. Efficient operation of its own ecosystem platform provides endless advantages of the bank over its competitors. Therefore, such a platform in the long run will allow customers to perform everyday operations conveniently and most importantly in an accessible format. The main advantages of the ecosystem of innovation banking activity include: expanding the list of innovative products and services for existing and new customers, reducing the cost of innovation; accelerate the introduction of innovations in the ecosystem through more dynamic feedback with all participants in the ecosystem and increase customer loyalty; formation of new principles of interaction between participants in the innovation process in order to provide a wider range of innovative banking products and services. Digital ecosystems are a promising business model for banks, as they can not only attract and retain customers, but also generate income beyond their core business. In addition, cooperation with other companies in the form of commercial partnerships creates an attractive income and synergy for banks

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 Capital structure and regulation implications for South African banks

2013 ◽  
Vol 11 (4) ◽  
pp. 765-776
Author(s):  
J.H.v.H. de Wet
Keyword(s):  
Best Practices ◽  
Capital Structure ◽  
South African ◽  
Past Research ◽  
Regulatory Compliance ◽  
Financial Data ◽  
Banking Institutions ◽  
And Performance ◽  
Banking Institution ◽  
Nobel Prize Laureates

Past research on capital structure was spearheaded by the ground-breaking models of Nobel Prize laureates Modigliani and Miller. However, little research has been done on the application of their and other theories to banking institutions located in Southern Africa. This study analyses the determinants of the capital structure of banks in South Africa based on secondary financial data and by performing this analysis attempts to establish trends in capital structure policy and regulatory compliance. The study also identifies best practices that contribute to the overall value and performance of the banking institution. Conclusions drawn from the results and literature create greater understanding of the dynamics of capital structure and its implications for South African Banks.

scholarly journals PERLINDUNGAN "HAK SPIRITUAL" DALAM PENYELESAIAN SENGKETA PERBANKAN SYARIAH: PRAKTIK DI MALAYSIA DAN INDONESIA

2016 ◽  
Vol 5 (2) ◽  
Author(s):  
Rof'ah Setyowati
Keyword(s):  
Financial Services ◽  
Comparative Approach ◽  
Islamic Banking ◽  
Constitutional Court ◽  
Legal Research ◽  
Joint Research ◽  
Banking Institutions ◽  
Banking Institution ◽  
The Right ◽  
Settlement Of Disputes

"Spiritual right" is the right in the spiritual aspect that is owned by any person. The Spirituality of Muslim customers is influenced by sharia principles in various aspects of their lives. The protection against "spiritual right" is also required in the settlement of disputes between customers and Islamic banking institution. Indonesian regulation has provided the foundation for the protection of the spiritual rights. The issuing of the MK (Constitutional Court)'s verdict Number 93/PUU-X/2012, can also lead to that purpose. However, there is still a "spiritual right" post the verdict. This study utilizes two types of joint research method called socio-legal research. It employs several approaches, namely philosophical, historical, critical, analytical, comparative, and so on. However, the most prominently used is the comparative approach as it is associated with the purpose of this study in digging Malaysian experiences with its longer period of having various legal problems. It is hoped that these experiences can be referred to as a pattern for more effective "spiritual right". The analysis shows that the effectiveness of the "spiritual right" protection in settling the dispute of Islamic banking institutions is dominantly influenced by the policy of financial services authority, which in Malaysia is Bank Negara Malaysia (BNM) and Otoritas Jasa Keuangan (OJK) in Indonesia. ========================================================================================================"Hak spiritual" merupakan hak dalam aspek spiritual yang dimiliki oleh setiap orang. Spiritulitas konsumen Muslim dipengaruhi oleh prinsip-prinsip syariah dalam berbagai aspek kehidupannya. Perlindungan terhadap "hak spiritual" juga dibutuhkan dalam penyelesaian sengketa antara nasabah dengan institusi perbankan syariah. Melalui peraturan perundangan, telah diberikan landasan bagi perlindungan "hak spiritual". Munculnya Putusan MK Nomor 93/PUU-X/2012, hakekatnya juga mengarah pada maksud tersebut. Namun permasalahannya, pasca putusan MK tersebut, masih terdapat "hak spiritual". Kajian ini menggunakan dua jenis penelitian gabungan, yang disebut dengan socio-legal research. Beberapa metode pendekatan dilakukan, antara lain: filosofis, historis, analitis kritis, dan komparatif. Namun yang paling menonjol digunakan ialah metode komparatif. Penggunaan metode ini dikaitkan dengan tujuan kajian ini untuk mengambil pengalaman dari Malaysia yang lebih lama dengan berbagai problematika hukum yang ada, untuk manjadi acuan guna mendapatkan pola perlindungan "hak spiritual" yang lebih efektif. Hasil analisis ini menujukkan bahwa efektifitas perlindungan "hak spiritual" dalam penyelesaian sengketa perbankan syariah sangat dipengaruhi oleh kebijakan lembaga pemegang otoritas pembinaan, pengawasan dan pengaturan perbankan syariah. Dalam konteks ini, di Malaysia ialah BNM, sementara di Indonesia ialah OJK.

scholarly journals IMPLEMENTATION OF ECONOMIC DEMOCRACY PRINCIPLE IN ISLAMIC BANKING POLICIES THROUGH FINANCIAL SERVICES AUTHORITY (FSA) IN INDONESIA

At-Taradhi ◽  
2018 ◽  
Vol 8 (2) ◽  
pp. 78 ◽  
Author(s):  
Yusup Hidayat ◽  
Fokky Fuad ◽  
Maslihati Nurhidayati
Keyword(s):  
Financial Institutions ◽  
Financial Services ◽  
Primary Source ◽  
Local Economy ◽  
Islamic Banking ◽  
Economic Democracy ◽  
Regulation And Supervision ◽  
Wide Range ◽  
Banking Institutions ◽  
Banking Institution

Abstract: The enactment of Law No. 21 Year 2011 on the Financial Services Authority (FSA) made the regulation and supervision of financial institutions both banks and nonbank be integrated, including the regulation and supervision of sharia financial institutions in which there is sharia Islamic Banking. One of the principles of Islamic banking, as stated in Law No. 21 of 2008 concerning Islamic Banking is the Principle of Economic Democracy. In the implementation of the principle of economic democracy that the FSA has a significant role in pushing the Islamic banking institution to utilize its resources to promote the local economy, especially groups of people whose economic access is still minimal. In 2014, the FSA issued Regulation No. 19 in relation to inclusive finance. In these regulations, the FSA encourages banking institutions to provide banking services to people who have been marginalized through the branchless bank program. This POJK  applies to both conventional banking and Islamic banking. Some conventional banks have been undertaking this program with a wide range of dynamics. Some Islamic banks have been also undertaking it, while others are still at the preparation stage. This paper will analyze the regulations issued by the FSA in order to encourage Islamic banking institutions in actualizing the principle of economic democracy, especially in relation to inclusive finance program. The research method used in this article is normative juridical with the support of primary source through the FSA.Abstrak: Berlakunya Undang-Undang Nomor 21 Tahun 2011 tentang Otoritas Jasa Keuangan (OJK) menjadikan pengaturan dan pengawasan Lembaga Keuangan baik Bank maupun Nonbank menjadi terintegrasi, termasuk pengaturan dan pengawasan Lembaga keuangan syariah yang di dalamnya terdapat Perbankan Syariah.  Salah satu asas Perbankan syariah sebagaimana tertuang dalam Undang-Undang No. 21 tahun 2008 tentang Perbankan Syariah adalah Asas Demokrasi Ekonomi. Dalam implementasi asas demokrasi ekonomi tersebut OJK memiliki peran signifikan dalam mendorong lembaga perbankan syariah untuk mendayagunakan sumber daya yang dimiliki untuk memajukan ekonomi masyarakat terutama kelompok masyarakat yang secara akses ekonomi masih minim.  Pada tahun 2014 OJK mengeluarkan Peraturan OJK No 19 terkait dengan keuangan Inkusif. Dalam peraturan tersebut OJK mendorong lembaga perbankan untuk memberikan layanan jasa perbankan kepada masyarakat yang selama ini termarginalkan melalui program Laku Pandai. POJK ini berlaku baik untuk perbankan konvensional maupun perbankan syariah. Beberapa bank konvensional sudah meakukan program ini dengan berbagai macam dinamikanya. Sementara itu bank syariah juga sebagian ada yang sudah menjalankan sementara yang lain masih pada tahap persiapan. Tulisan ini akan menganalisis peraturan-peraturan yang dikeluarkan OJK dalam mendorong lembaga perbankan syariah dalam mewujudkan asas demokrasi ekonomi terutama terkait dengan program keuangan inklusif. Metode penelitian pada penelitian adalah yuridis normatif dengan dukungan data-data primer melalui pihak OJK.Keywords: Banking service, economic, financial, democracy.

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