BANKING SECTOR DIGITALIZATION: TRENDS OF DEVELOPMENT AND ECONOMIC SECURITY

2021 ◽  
Vol 1 (9) ◽  
pp. 93-98
Author(s):  
N. F. KUZOVLEVA ◽  
◽  
N. V. TARASOVA ◽  
Keyword(s):  
Financial Services ◽  
Banking Sector ◽  
Central Banks ◽  
Economic Security ◽  
Digital Transformation ◽  
Special Role ◽  
Security Risks ◽  
Domestic Credit ◽  
Transformation Processes

The article is devoted to the current problems of digitalization in the banking sector including ensuring of economic security in connection with introduction of digital currencies by central banks. Emphasized is special role of credit and financial organizations in development of digital banking technologies. Economic security risks of the banking sector arising in the process of introducing digital financial services are noted. The article gives an assessment of the level of development of digital transformation processes of the domestic credit and banking sector.

Money, Central Banks, and Low Financial Development Countries

2021 ◽  
pp. 1-44
Author(s):  
Juan Antonio Morales ◽  
Paul Reding
Keyword(s):  
Monetary Policy ◽  
Financial Development ◽  
Central Banks ◽  
Historical Background ◽  
Special Role ◽  
Design And Implementation ◽  
Financial Depth ◽  
Per Capita ◽  
Selection Of

This chapter gives a general overview of the nuts and bolts of monetary policy and presents the low financial development countries that are the focus of this book. It discusses, with some historical background, the special role of money in the financial system, the functions of central banks, and the mandates society has entrusted them with. It also shows how monetary policy is structured within a specific framework of targets and instruments that guides the central bank’s interventions. Finally, it presents the main features that characterize the selection of developing countries that the book aims to address and that raise specific challenges for the design and implementation of their monetary policy: low per capita income, low financial depth, and weak integration with international financial markets.

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 FEATURES OF ENSURING ECONOMIC SECURITY OF ENTREPRENEURIAL ACTIVITY IN THE EPOCH OF DIGITAL TECHNOLOGIES

2020 ◽  
pp. 53-59
Author(s):  
O. V. Korotkova
Keyword(s):  
Communication Systems ◽  
Business Processes ◽  
Digital Technologies ◽  
Economic Security ◽  
Digital Transformation ◽  
Entrepreneurial Activity ◽  
Information And Communication ◽  
The Impact ◽  
Functional Components ◽  
Transformation Processes

The article is devoted to the study of theoretical and applied aspects of the impact of digital technology on business and the process of ensuring the economic security of enterprises. It is shown that a significant aspect of maintaining an enterprise in a state of economic security is the ability to adapt to the changing external environment in which the enterprise operates. The paper considers the main functional components of the economic security of enterprises. The features of the influence of digital technologies on the effectiveness of individual functional components of economic security are investigated. The list of objects of digital transformation processes for enterprises is determined in order to ensure economic security. Digital transformation objects are grouped into three blocks: the infrastructure for ensuring economic security using digital technologies, information and communication systems, business processes and management systems. The features of economic security of entrepreneurial activity and the main factors of the introduction of digital technologies in enterprises are highlighted. The author formulated the main tasks of the economic security system of an enterprise in the context of digital transformations. The basic requirements for creating the appropriate conditions for ensuring transformational information and technological processes are determined.

scholarly journals Digital Transformation of the Greek Retail Banking: An Evaluation of Systemic Banks’ Websites

2018 ◽  
Vol 9 (2) ◽  
pp. 117 ◽  
Author(s):  
John Mylonakis
Keyword(s):  
Banking Sector ◽  
Retail Banking ◽  
Digital Transformation ◽  
Economic Conditions ◽  
Customer Choice ◽  
Technological Developments ◽  
Greek Banks

Digital transformation seems to have been materialized to a large extent by Greek Banks, which continue to innovate in Retail Banking continuously improving their websites and customer choice options. It is important to mention that the Banking sector in Greece has gone on the same footing as banks abroad and is barely able to provide services and services, despite the adverse economic conditions. The paper examines the advantages, disadvantages and the role of the various factors that generally apply to the digital transformation of the Banking Sector. The research revealed that the banking sector in Greece seems to have followed the worldwide technological developments and has made the necessary changes to turn any digital achievements into its own benefit.

Promoting Indigenous Financial Inclusion

2018 ◽  
Vol 9 (2) ◽  
pp. 1-11
Author(s):  
Michael D'Rosario
Keyword(s):  
Social Services ◽  
Financial Services ◽  
Potential Role ◽  
Banking Sector ◽  
Indigenous Communities ◽  
Financial Inclusion ◽  
Banking Services ◽  
Geographic Dispersion ◽  
Financial Exclusion

This article describes how the majority of Australia's indigenous communities live within isolated regions and are typically characterized by levels of disadvantage not evidenced within mainstream Australian society. While there are a number of reasons for the evidenced disadvantages, access to financial services and social services are acknowledged as key contributors. The article outlines the role of banking sector competition and changing banking structures on the exclusion of indigenous people from banking services. It is claimed herein that access, marketing, price, and self-exclusion all serve to promote financial exclusion. It is posited that forms of access exclusion such as bank branch access and geographic dispersion have served as the key structural impediments to indigenous financial inclusion. Specifically, this article considers the potential role of adaptive cellular technologies and community telecentres in addressing financial exclusion within indigenous communities. Detailing successful ‘social banking' models adopted in several developing countries, it is asserted that m-banking could serve as a powerful tool for inclusion.

Global Financial Crisis: Exploring the Special Role of U.S. Banks and Regulations

2016 ◽  
Vol 4 (1) ◽  
Author(s):  
Nabila Nisha
Keyword(s):  
Financial Crisis ◽  
Financial Markets ◽  
Banking Sector ◽  
Global Financial Crisis ◽  
Special Role ◽  
Subprime Lending ◽  
International Banking ◽  
The Government ◽  
The Global Financial Crisis

Financial markets have suffered the greatest dislocation following the truly seismic significance of the global financial crisis. Regulators argue that the banking sector played a particularly special role in triggering the causes of the subprime debacle, thereby leading to the occurrence of the global financial crisis. Banks previously functioned as only a financial intermediary, but certain developments in the international banking sector like deregulation, technological progress, consolidation and competition, securitisation and financial innovation, resulted in banks being involved in subprime lending activities and hence, a reason behind the financial turmoil. The aim of this paper is to scrutinise the special role of banks in the global financial crisis and to stress on the need for increased regulation and their implications on the banking sector. The current study will thus contribute to the examination of the salient features of the global financial crisis and provide regulatory suggestions for the banking sector and the government as a whole.

Promoting Indigenous Financial Inclusion

2020 ◽  
pp. 348-360
Author(s):  
Michael D'Rosario
Keyword(s):  
Social Services ◽  
Financial Services ◽  
Banking Sector ◽  
Indigenous Communities ◽  
Financial Inclusion ◽  
Banking Services ◽  
Australian Society ◽  
Geographic Dispersion ◽  
Financial Exclusion

This article describes how the majority of Australia's indigenous communities live within isolated regions and are typically characterized by levels of disadvantage not evidenced within mainstream Australian society. While there are a number of reasons for the evidenced disadvantages, access to financial services and social services are acknowledged as key contributors. The article outlines the role of banking sector competition and changing banking structures on the exclusion of indigenous people from banking services. It is claimed herein that access, marketing, price, and self-exclusion all serve to promote financial exclusion. It is posited that forms of access exclusion such as bank branch access and geographic dispersion have served as the key structural impediments to indigenous financial inclusion. Specifically, this article considers the potential role of adaptive cellular technologies and community telecentres in addressing financial exclusion within indigenous communities. Detailing successful ‘social banking' models adopted in several developing countries, it is asserted that m-banking could serve as a powerful tool for inclusion.

The Role of Internet Banking in the Presentation and Marketing of Financial Services and Products in a Digital Environment

2020 ◽  
pp. 162-183
Author(s):  
Berrin Arzu Eren
Keyword(s):  
Financial Institutions ◽  
Financial Services ◽  
Banking Sector ◽  
Internet Banking ◽  
The Internet ◽  
Advantages And Disadvantages ◽  
The World ◽  
Technological Developments ◽  
Use Of Internet

This study aims to reveal the advantages and disadvantages offered by internet banking to financial institutions and their customers as well as the reasons why customers use/do not use internet banking. For this purpose, customers' perspectives on internet banking are presented to the reader in the past and present by statistics. This research points out that many customers of the bank around the world still do not use the internet. Hence, internet banking is not an option. Therefore, in this study, suggestions are made to enable the use of internet banking by the wider masses. In addition to internet banking, technological developments and digital innovations in the banking sector are mentioned in the chapter, and the evolution of internet banking is pointed out.

scholarly journals SAFETY ENSURING OF COMPANIES IN THE IMPLEMENTATION OF BANKRUPTCY CASES

2014 ◽  
pp. 60-63
Author(s):  
A. N. Ryakhovskaya
Keyword(s):  
Banking Sector ◽  
Special Role ◽  
Legal Basis ◽  
Settlement Of Disputes

Substantiates the direction of balancing the interests in the implementation of bankruptcy cases, the need to improve the skills of arbitration managers, employees of financial and banking sector, other members of the bankruptcy proceedings, their knowledge of the functioning of the institution of bankruptcy. It is noted the special role of experts, the presence of many remarks to the quality of their conclusions, the need to increase the proficiency requirements of the legal basis of the bankruptcy institution. It is considered the possibility of using the pre-trial mediation settlement of disputes. 

scholarly journals Rola banków i sektora FinTech w świetle implementacji dyrektywy PSD2 ​

2018 ◽  
pp. 159-169
Author(s):  
Jacek Grzywacz ◽  
Ewa Jagodzińska-Komar
Keyword(s):  
Financial Services ◽  
Business Models ◽  
Banking Sector ◽  
Banking System ◽  
Technical Standards ◽  
Innovative Solutions ◽  
New Business ◽  
Close Cooperation ◽  
Changing Role

The aim of the article is to define the prospects for the development of cooperation between the banking sector and FinTech in the context of the implementation of the PSD2 directive. First, attention was drawn to the changing role of banks that have already taken actions to use the opportunities related to the implementation of this EU regulation of the European payments market. It has been pointed out that the opening of the banking system will result in close cooperation with the FinTech sector, so-called API economics, and this will affect the emergence of new business models. Next, new solutions developed in the PSD2 Directive were presented, with reference to new regulatory technical standards between the banking sector and third parties. The last issue raised in the article concerns cooperation between banks and the FinTech sector. Financial institutions should use innovative solutions offered by fintechs and thanks to that they will increase operational efficiency and create products and services better suited to clients' needs. In the next years, it will be possible to observe how the financial services market will change and which entities will play a significant role in it.

Sign in / Sign up

Export Citation Format

Share Document