scholarly journals KEY TRENDS IN EUROPEAN RETAIL BANKING AND PROSPECTS FOR THEIR DEVELOPMENT IN UKRAINE

2019 ◽  
pp. 140-153
Author(s):  
Serhiy KYRYLENKO
Keyword(s):  
Financial Services ◽  
Western Europe ◽  
Banking Sector ◽  
Retail Banking ◽  
New Information ◽  
Banking Business ◽  
European Banking ◽  
Marketing Tool ◽  
Domestic Banks ◽  
Further Development

The modern banking sector of Ukraine is subject to technological influences from the financial services market of Western Europe. The article identifies key strategic directions for banking business development in the conditions of rapid technological change and transformation of the financial service consumption model. The study aims to identify the modern tendencies in banking and the prospects for implementing separate models and instruments in view of the realities of the domestic retail banking practice. The study reveals the main principles of building customer-oriented strategies in European banking. The author studies practical aspects of using new information technology as a marketing tool in the context of sales growth in the retail banking sector. In having performed the analysis of the world experience and its impact on the marketing models of domestic banks, the author identifies and suggests main directions for further development of the domestic banks that are focused on providing services to private individuals and population in general.

scholarly journals The Role of ‘Digitalization’ in German Sustainability Bank Reporting

2020 ◽  
Vol 8 (1) ◽  
pp. 16 ◽  
Author(s):  
Florian Diener ◽  
Miroslav Špaček
Keyword(s):  
Financial Services ◽  
Banking Sector ◽  
Business Environment ◽  
Current Analysis ◽  
Structural Inequality ◽  
Services Sector ◽  
Financial Services Sector ◽  
Further Development ◽  
Insight Into

The financial services sector, particularly with respect to today’s banking industry, is aiming to make a digital transition. Sustainable reporting is a holistic new reporting approach in banking and has only become partially mandatory for the sector. Thus, this paper makes a contribution to the current analysis approach and further development of the German Sustainability Code as well as associated legal approaches. It concerns the assessment of mandatory sustainable reporting in the light of constantly changing market conditions and stricter legal requirements for stakeholder data responsibility. In specific, it focuses on a digital evolving business environment and is intended to provide an insight into the perception of the topic of digitalization in the banking sector. The assessment is based on the structure of the German Sustainability Code. Based on 113 bank reports, a multiple regression analysis of 1410 codings of the keyword ‘digital’ is carried out. The results show that banks partly and not fully address digital issues in their reporting. It transpires that the emphasis is on seven criteria, while social elements are totally ignored. The paper shows a structural inequality within sustainable bank reporting with regard to digitalization. It also shows that issues are not adequately addressed and covered in legal reporting standards and that the provision of information to stakeholders on specific issues is largely undefined.

scholarly journals Protection of Clients’ Rights in the Microcredit Process

2020 ◽  
Vol 91 (4) ◽  
pp. 170-184
Author(s):  
M. A. Sadykov
Keyword(s):  
Financial Services ◽  
Banking Sector ◽  
State Control ◽  
Customer Complaints ◽  
Bank Managers ◽  
Domestic Banks ◽  
And Control ◽  
To Receive ◽  
Bank Employee

The author has analyzed the role and significance of overdraft for microcredit of the needs of the poor in the conditions of economic crisis and low wages. The positive and negative aspects of overdraft in the context of integration of the country’s financial system into the world community have been clarified. Inconsistency of normative provisions of legislative acts reduces the efficiency of the banking sector of the economy. Bank managers resort to abuse, do not fully explain the terms of microcredit, and do not create conditions for the management of balances and control over them. Customer complaints are considered formally, without their participation. Using the trust of the client, bank managers offer a variety of services in order to receive commissions. The business reputation of a bank employee depends on the amount and amount of funds attracted by the client, but not on the quality of services. It has been offered to strengthen state control over the activities of the banking sector, as well as to increase the legal awareness of young people in the process of using financial services of foreign and domestic banks and credit institutions.

Conclusion

2017 ◽  
Author(s):  
Rachel A. Epstein
Keyword(s):  
Economic Policy ◽  
Global Economy ◽  
Banking Sector ◽  
Banking Union ◽  
Major Powers ◽  
European Banking Union ◽  
Catching Up ◽  
European Banking ◽  
Domestic Banks

The study’s findings from Europe have implications for other major powers, including that: (1) banking sector protectionism became increasingly costly given other liberalizing trends; (2) foreign-owned bank subsidiaries can provide more stable funding in crises than alternative foreign or even domestic bank activity; (3) foreign domination in finance limited catching up in the global economy, but in fact few states showed the capacity to exploit domestic banks for national goals; and (4) centralized bank governance through European Banking Union weakened bank–state ties in Europe, and elevated the role of markets there. This chapter analyzes the relevance of the findings for the BRICS (Brazil, Russia, India, China, and South Africa). China is perhaps the clearest case of a country struggling to both liberalize and retain the economic policy autonomy associated with a largely state-controlled financial system. The conclusion specifies the broader transformation in bank–state ties, but also its limits.

Geography, ownership and uneven trends in the economic performance of small banking centres in Europe during the financial crisis

2020 ◽  
Vol 27 (4) ◽  
pp. 359-378
Author(s):  
Jiří Blažek ◽  
Tereza Hejnová
Keyword(s):  
Economic Performance ◽  
Western Europe ◽  
Banking Sector ◽  
Evolutionary Dynamics ◽  
Current Phase ◽  
Southern Europe ◽  
Research Attention ◽  
Considerable Research ◽  
European Banking ◽  
The City

The current phase of intensive globalisation, digitisation, the expansion of fintech companies and the overall impacts of the recent crisis seem to spur further concentration in the banking sector in terms of both the number of banks in operation and the number of banking centres. This research is motivated by the fact that, in contrast to leading financial and banking centres that attract considerable research attention, small banking centres have remained under-researched, despite their large number and the important role they play in their host communities and regions. This paper deals with the recent evolutionary dynamics of 199 small European banking centres and is based on an analysis of the economic performance of individual banks aggregated at the city level where they have their headquarters. The analysed indicators cover size, profitability and the level of risk of particular banks over the 2004–2015 period. In addition, the data were analysed for three basic European macro-regions (western Europe, southern Europe and central and eastern Europe) and in terms of the ownership of the banks headquartered in particular centres (foreign versus domestic). Our investigation shows that, even though a significant decline has been observed in the number of these centres, the financial performance of banks headquartered in small financial centres differs widely, depending significantly upon the European macro-region (a decisive number of defunct banking centres was concentrated in southern Europe) and the ownership structure.

scholarly journals Digital transformation of the banking sector of the economy of Ukraine

2021 ◽  
Vol 2021 (3) ◽  
pp. 84-98
Author(s):  
Viktoriia KOVALENKO ◽  
Keyword(s):  
Information And Communication Technologies ◽  
Financial Services ◽  
Banking Sector ◽  
Banking System ◽  
Financial Education ◽  
Internet Banking ◽  
Digital Transformation ◽  
Banking Services ◽  
Banking Business ◽  
Self Service

The article considers the main digital transformational changes in the banking business. The current state of banks' use of financial digital technologies is analyzed, and the factors of digital transformation that affect their financially stable development are singled out. It is determined that the digitalization of the world economy over the past decade has posed new challenges to the banking system, which are caused by increased competition in the financial services market. The factors of emergence of financial intermediaries of the new generation and the need for digital transformation of contemporary banks are described. It is proved that the digital transformation of the banking sector of the economy is due to the development of financial technologies, digital marketing channels and innovation. Three main holistic proposals for FinTech development have been identified. The digital transformation of the banking business is changing not only the supply to customers. It is changing the contours of the business and staffing requirements. Such tools as ATMs and self-service terminals, telephone banking, SMS banking, Internet banking and mobile banking represent the evolution of customer access channels to banking services based on the use of information and communication technologies. The article considers the basic scheme of transformation of a classical bank into a dynamic system of a digital bank by gradually forming the directions of digital distribution. Further digital transformational changes in the banking business should be aimed at the vectors of financial education of consumers of banking services, regulation of the cryptocurrency market in Ukraine, definition of common standards of regulation and supervision of banks and non-banking institutions in the area of digital financial services.

Functioning of the Fast Payment System in Russia

2021 ◽  
pp. 23-28
Author(s):  
A. Zverev ◽  
Viktoria Valerievna Mandron ◽  
A. Sereda
Keyword(s):  
Customer Service ◽  
Financial Services ◽  
Payment System ◽  
Financial Industry ◽  
Banking Services ◽  
Customer Base ◽  
Market Participants ◽  
New Information ◽  
Banking Business ◽  
Remote Interaction

Digital transformation is the main direction of development of the national financial industry. Traditional banking services are being transferred to online services, especially in the context of the rapid growth of e-commerce. The introduction of new information channels of remote interaction allows credit institutions to reduce their costs, improve the quality and speed of customer service, balance active and passive operations, expand the «line» of banking products and financial services, stabilize and expand the customer base. The development of the banking business based on the introduction of a fast payment system is becoming a necessity for all categories of retail and corporate clients. The creation and development of the infrastructure of the fast payment system is a priority project of the Bank of Russia for the development and expansion of non-cash payments. This project is aimed at developing the availability of financial services in remote regions of Russia and reduces the costs of market participants.

Service excellence in UK retail banking: customers’ perspectives of the important antecedents

2015 ◽  
Vol 33 (7) ◽  
pp. 904-921 ◽  
Author(s):  
Harjit Singh Sekhon ◽  
Dima Al-Eisawi ◽  
Sanjit Kumar Roy ◽  
Adrian Pritchard
Keyword(s):  
Financial Services ◽  
Service Sector ◽  
Banking Sector ◽  
Retail Banking ◽  
Banking Services ◽  
Content Type ◽  
Service Excellence ◽  
The Uk ◽  
Retail Banks ◽  
Practical Implications

Purpose – The purpose of this paper is to develop and tests a service excellence model, thus providing a detailed understanding of the key antecedents of service excellence, from a customer ' s perspective. The model presented in this paper is rooted in cross-disciplinary literature and tested amongst customers of UK retail banking services. Design/methodology/approach – Following a systematic approach to scale development, the paper draws on survey data from 260 consumers of retail banking products, with the data collected on national basis in the UK. Findings – The theoretical framework was evaluated using a structural approach. Of the hypothesised antecedents, innovation has the greatest impact on service excellence while reputation the least, as far as customers are concerned. Research limitations/implications – The research was limited to one research domain, i.e. UK retail banking, and thus it is reasonable to hypothesise that other aspects of service excellence will be more or less relevant for other types of financial services or in other geographic regions. Practical implications – Given the challenges faced by the retail banking sector, there are implications for practitioners because the authors identified the key antecedents of service excellence. The antecedents can be used by practitioners to help demonstrate excellence on their part and they could differentiate what are homogenous services at a time when the retail banks are going through a period of recovery following the crisis within the sector. Originality/value – This work complements the understanding of service excellence and provides insight for scholars and practitioners by modelling services for a specific service 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 DETERMINANTES E IMPACTOS DA RECENTE ENTRADA DE BANCOS EUROPEUS NO BRASIL

2004 ◽  
Vol 30 (2) ◽  
Author(s):  
Luiz Fernando De Paula
Keyword(s):  
Mergers And Acquisitions ◽  
Banking Sector ◽  
Retail Banking ◽  
Foreign Banks ◽  
Recent Period ◽  
Banking Market ◽  
European Banks ◽  
Legal Restrictions ◽  
Main Determinants ◽  
Domestic Banks

Este artigo objetiva analisar os principais determinantes e impactos da recente onda de bancos europeus no Brasil. A principal hipótese do artigo é que a onda de bancos europeus só pode ser entendida se forem considerados ambos os fatores externos e internos. Os determinantes externos estão relacionados ao processo de consolidação bancária no sistema financeiro europeu no contexto da União Monetária Européia, que tem estimulado alguns bancos a se expandirem para o exterior. Os determinantes internos, por sua vez, estão relacionados principalmente à gradual flexibilização das restrições legais, com respeito à presença dos bancos estrangeiros no setor bancário brasileiro. Finalmente, o artigo também avalia os impactos da entrada recente dos bancos europeus no mercado bancário varejista brasileiro. Neste particular, ele mostra que a entrada estrangeira tem afetado o mercado bancário doméstico, forçando os bancos nacionais a operarem de forma mais eficiente e também a expandir suas atividades, organicamente ou por fusões e aquisições. O paper conclui que não existe evidência de que os bancos estrangeiros são mais eficientes do que os bancos domésticos no Brasil no período recente, mas existe alguma evidência de que os maiores bancos privados nacionais têm reagido positivamente à entrada dos bancos estrangeiros. Abstract This paper aims at analyzing the main determinants and impacts of the recent wave of European banks entering Brazil. The principal hypothesis of the paper is that the wave of European banks can only be understood if one considers both external and internal determinants. External determinants concern the process of banking consolidation in the European financial system under the EMU that has stimulated some banks to expand abroad. Internal determinants are mainly related to the gradual flexibilisation of legal restrictions with respect to the presence of foreign banks in the Brazilian banking sector. Finally, the paper evaluates the impacts of the recent entry of European banks into the retail banking market in Brazil. In this particular matter, it shows that foreign entry has affected the national banking market, forcing domestic banks to operate more efficiently, and also to expand their activities organically or by mergers and acquisitions. The paper concludes that there is no clear evidence that foreign banks have been more efficient than domestic banks in Brazil in the recent period, but there is some evidence that the big private Brazilian banks have reacted positively to the entry of foreign banks.

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