Applications of Blockchain Technology in the Finance and Banking Industry Beyond Digital Currencies

2022 ◽  
pp. 216-238
Author(s):  
Sitara Karim ◽  
Mustafa Raza Rabbani ◽  
Hana Bawazir
Keyword(s):  
21St Century ◽  
Financial Services ◽  
Banking Industry ◽  
Financial Services Industry ◽  
Financial Innovations ◽  
Digital Currency ◽  
Blockchain Technology ◽  
Services Industry ◽  
Financial Transactions ◽  
The Given

Blockchain and cryptocurrency have almost become synonymous. Cryptocurrency is arguably one of the most sensational financial innovations of the 21st century. The current study claims that blockchain technology is not limited to the application of digital currencies in finance and banking; there are wide applications of blockchain technology in the given field. Blockchain uses the unique properties enabling decentralized, secured, transparent, and temper-proof financial transactions that have the potential to revolutionize the financial services industry. Given such a stance, the chapter outlines the application of blockchain technology in the finance arena beyond the digital currency. In this chapter, the authors provide the 10 applications of blockchain technology in the financial services industry implementing the blockchain technology and revolutionizing the finance and banking industry. The chapter also highlights the hurdles to application of blockchain technology in the finance and banking industry.

Artificial Intelligence and Personalized Banking

2022 ◽  
pp. 74-87
Author(s):  
Sunanda Vincent Jaiwant
Keyword(s):  
Artificial Intelligence ◽  
Customer Service ◽  
Financial Services ◽  
Banking Sector ◽  
Banking Industry ◽  
Human Intelligence ◽  
Financial Services Industry ◽  
Customer Journey ◽  
Services Industry ◽  
Applications Of Ai

AI has begun making its presence felt in every industry and now across the financial services industry as well. This chapter examines and presents the use of AI in banks for better customer service giving them a personalized experience. This chapter explains how banks are getting future-ready for their financial services by means of AI and are delivering financial offerings seamlessly. This research primarily focuses on the concept of AI in the field of banking, how AI has revolutionized personalized banking and made banking operations more efficient and successful. AI innovations are an integral part of Industry 5.0 which aims at integrating automation and human intelligence. This chapter aims to study and describe the current applications of AI in the banking industry and its impact on the banking sector. The study also gives a description of the banks employing AI to facilitate an exceedingly personalized customer journey with the banks.

scholarly journals Blockchain, Tokenization, and Implications for Financial Services Practitioners

2019 ◽  
Vol 9 (1) ◽  
pp. 1
Author(s):  
Sean Stein Smith
Keyword(s):  
Financial Services ◽  
Academic Research ◽  
Financial Services Industry ◽  
Blockchain Technology ◽  
Challenges And Opportunities ◽  
Services Industry ◽  
Physical Assets ◽  
Emerging Topics ◽  
Key Questions

Blockchain technology represents perhaps the most powerful and transformative technology to enter the financial services landscape in the last several decades according to both practitioner commentary and academic research. While much has been written and analyzed about blockchain terminology and definitions, however, more recent applications and developments potentially hold more both challenges and opportunities for the financial services industry. This research examines the area of tokens, tokenization of physical assets, and the implications this continued shift and development has for both practitioners and academics. Lastly, and after examining implications of blockchain in general for the profession, key questions and considerations are presented for practitioner consideration moving forward. Written with both practitioners and academics in mind, this research covers emerging topics of concern, and recommends possible steps toward resolving several outstanding questions in the blockchain space.

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