scholarly journals Settlement Mechanism of Banking Fraud and the Role of the Financial Services Authority in Indonesia

2021 ◽  
Vol 04 (06) ◽  
Author(s):  
Romi Prayudi ◽  
Keyword(s):  
Financial Services ◽  
Banking Industry ◽  
Banking System ◽  
Technology Infrastructure ◽  
Information Technology Infrastructure ◽  
Technological Developments ◽  
System Data ◽  
Reporting Mechanism ◽  
Investigation Process

The development of technology and digitalization in Indonesia in recent years has been very rapid. In the era of technology disruption, every industry must be ready to adapt to face dynamic changes. The banking industry inevitably has to adapt to existing technological developments. Unfortunately, the developments are also followed by the growth of various frauds in banking. In response to this, Indonesian Financial Services Authority namely Otoritas Jasa Keuangan (OJK) demand banking industry to improve the reliability of Information Technology infrastructure. Several recent cases of mislaid customer funds show several loopholes in the existing banking security system. Customarily, customers who experience similar cases have reported the matter directly to the police authority, which in turn having extensive investigation process. In this paper, authors try to explain the role of OJK in improving the issues settlement, including by improving the banking system. Data is collected from a series of major cases of embezzlement in Indonesian banking and also from Financial Services Regulations to see the role that could be improved. The main conclusions are to report any irregularities to OJK in the first place instead to the police because Financial Services in Indonesia already has its own supervisory agency, and there needs to be massive socialization to customers regarding the reporting mechanism.

The Role of Radio Frequency Identification in Modern Libraries

2015 ◽  
pp. 361-385 ◽  
Author(s):  
Kijpokin Kasemsap
Keyword(s):  
Radio Frequency ◽  
Radio Frequency Identification ◽  
Operating Cost ◽  
Sustainable Competitive Advantage ◽  
Cost Information ◽  
Technology Infrastructure ◽  
Information Technology Infrastructure ◽  
Frequency Identification ◽  
Global Operations

This chapter reveals the role of radio frequency identification (RFID) in modern libraries, thus demonstrating the theoretical and practical concept of RFID; the utilization of RFID in global operations; RFID perspectives in modern libraries (i.e., operating cost, information technology infrastructure cost, skilled RFID workers, access rate, patron policy, data security, barcode factor, and patron issues); the applications of RFID in modern libraries (i.e., data management, circulation, inventory, assistance in searching and orientation, data accuracy and reliability, theft prevention, utilization statistics for serials, and personal service); and the significance of RFID in modern libraries. RFID solutions can be utilized to reduce the operating costs through decreasing labor costs, enhancing automation, improving tracking and tracing, and preventing the loss of materials. Applying the RFID will significantly improve educational performance and gain sustainable competitive advantage in modern libraries.

Part IV Regulatory and Other Developments in the UK 2010‒2016, 14 Financial Services (Banking Reform) Act 2013

2018 ◽  
Author(s):  
Mccormick Roger ◽  
Stears Chris
Keyword(s):  
Financial Services ◽  
Small Businesses ◽  
Banking Sector ◽  
Banking Industry ◽  
Banking System ◽  
Structural Reform ◽  
Professional Standards ◽  
Banking Reform ◽  
The Uk ◽  
Independent Commission

This chapter charts the passage of the Financial Services (Banking Reform) Act 2013. The Banking Reform Act was enacted in December 2013 and comprises of 8 parts and 10 schedules. The Act was intended to deliver on the government’s plan to create a more robust, better regulated and managed banking system, that supports the economy, customers and small businesses. The Banking Reform Act implemented the recommendations of the Independent Commission on Banking (on banking-sector structural reform) and the key recommendations of the Parliamentary Commission on Banking Standards (on behaviour, culture, and professional standards within the banking industry). The Act amended the FSMA, the Insolvency Act 1986, and the Banking Act 2009. It also provided the legislative platform for an enhanced accountability regime within financial services.

scholarly journals Role of Banks in Ensuring a Sustainable and Inclusive Growth

2017 ◽  
Vol 6 (3) ◽  
pp. 509
Author(s):  
Saurabh Agarwal
Keyword(s):  
Economic Growth ◽  
Financial Services ◽  
Banking Industry ◽  
Essential Element ◽  
Financial Inclusion ◽  
Market Size ◽  
Inclusive Growth ◽  
Policy Makers ◽  
The People

<div><p><em>Economic growth in India has to be inclusive in order to make it sustainable. Inclusiveness is an essential element in a democracy. If policies that bring about economic growth do not benefit the people in a wide and inclusive manner, they will not be sustainable. Equally, inclusive growth is essential to grow the market size, which alone will sustain growth momentum. Inclusive growth is the only just and equitable way that any society can grow. Financial Inclusion rests on three pillars viz. access to <strong>financial services, affordability of such services and actual utilization of such services.</strong> Financial Inclusion can be achieved only if all the three pillars show affirmative results. It may prove to be very useful for the banking Industry and the overall Indian economy. It will be useful for policy makers, academicians and researchers in the field.</em></p></div>

A review of literature directions regarding the impact of fintech firms on the banking industry

2021 ◽  
Vol ahead-of-print (ahead-of-print) ◽  
Author(s):  
Haitham Mohamed Elsaid
Keyword(s):  
Financial Services ◽  
Banking Industry ◽  
Banking System ◽  
Advanced Technology ◽  
Review Of Literature ◽  
Strategic Partnerships ◽  
Research Papers ◽  
Content Type ◽  
Fruitful Research ◽  
The Impact

Purpose This paper aims to provide a review of literature directions regarding the potential impact of fintech operators on the financial services market globally. This paper reviews the literature to identify possible benefits or challenges that fintech firms can have for the traditional banking system. Design/methodology/approach This paper is based on a review of published research papers related to fintech and digital finance. The Scopus database, SSRN database and google scholar were used to find relevant research papers. The final sample included impactful papers about the effect of fintech activities on the banking and financial services industry. Findings The current paper indicated that while fintech firms would take some market share away from banks, it is not expected that fintech firms would substitute banks. However, banks are required to accelerate their adoption of innovations and advanced technology to compete with fintech firms. It is also proposed that strategic partnerships and cooperation could happen between banks and fintech companies in a way that benefits both sides. Originality/value The present paper adds to the understanding of the effect of the fintech firms’ growth on the banking industry in light of the emerging opportunities and threats for the financial sector. The paper also provides guidance for fruitful research on the impact of fintech activities on social and economic welfare in the future.

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 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.

scholarly journals Digital Finance and the Future of Nigerian Banking System: A Review

2020 ◽  
Vol 6 (16) ◽  
pp. 24-35
Author(s):  
Gbenga F. Babarinde ◽  
◽  
Matthew O. Gidigbi ◽  
Julius T. Ndaghu ◽  
Idera T. Abdulmajeed ◽  
...  
Keyword(s):  
Financial Services ◽  
Banking Sector ◽  
Banking Industry ◽  
Banking System ◽  
Financial Service ◽  
Digital World ◽  
Services Delivery ◽  
The Future ◽  
The Impact ◽  
Nigerian Banking

Digital finance is a type of financial service that employs digital products like personal computers, the internet, mobile phones, cards linked to a digital payment system. Innovations in the digital world cannot be divorced from Nigerian financial services most notably the banking sector. Therefore, it means that banking industry cannot but embrace digital innovations in their services delivery. Hence, there is a need to review the impact of digital finance in the Nigerian banking sector. Desk research method was used to examine how innovations in the digital world could impact the future financial service delivery in the Nigerian banking sector. From the review, it was that the digital world is quickly changing and this impacts banking in all ramification. It is recommended that the banking industry should try to keep pace with the digital innovations, for them to be able to meet up the demands of their digitally-savvy customers.

Sign in / Sign up

Export Citation Format

Share Document