Determinants of cross selling through mobile apps in Indian Banks – A Factor Analysis Approach

2021 ◽  
Vol 23 (10) ◽  
pp. 161-173
Author(s):  
Dr. Urvashi Shrivastava ◽  
◽  
Dr. Minal Shah ◽  
Keyword(s):  
Financial Services ◽  
Business Processes ◽  
Banking Sector ◽  
Mobile Apps ◽  
New Physics ◽  
Competitive Dynamics ◽  
Mobile Banking ◽  
Competitive Edge ◽  
World Economic ◽  
Indian Banks

With the release of world economic forums report on “New physics of financial services”, the financial ecosystem of India will adapt to digital transformation and artificial intelligence. This will change the competitive dynamics and operating models of Indian Banking Sector creating opportunities to procure and secure customers. The steadiest path to address the challenge is Cross selling. From reduced customer acquisition cost to increase in the wallet share, the economics and financials of cross selling are very compelling and hence have become the strategic priority for Indian banking sector. Banks are placing greater emphasis on providing improved services to their clients, upgrading their expertise to augment customer’s overall experience thereby earning competitive edge. The banking complexity that spans multiple lines of products, diverse serviceable areas and distinct technologies and business processes must be coordinated using mobile banking apps to deliver effective cross-sell programs which the present study proposes.

scholarly journals Transformation of digitalization system of business processes at VTB Bank, PJSC

2021 ◽  
Vol 2021 (2) ◽  
pp. 70-79
Author(s):  
Viktoria Valerievna Mandron ◽  
Nikita Sergeevich Budaev ◽  
Alice Aleksandrovna Pototskaya ◽  
Tatiana Nikolaevna Sidorina
Keyword(s):  
Financial Services ◽  
Information Technologies ◽  
Business Models ◽  
Business Processes ◽  
Banking Sector ◽  
Financial Institution ◽  
Block Diagram ◽  
It Architecture ◽  
The People ◽  
Technological Platform

The article is focused on the increasing role of modern information technologies in banking sector. Today, the informatization process includes not only developing a safe and modern infrastructure, networks, data processing centers, but also creating the so-called digital economy on the basis of this infrastructure, which will bring new sources of income to the state and the people. The banking sector of the Russian Federation is most actively involved in the process of solving this problem. The development of automated business processes in VTB Bank (PJSC) is considered in detail. There is presented an overview of the bank's information technologies in such key areas as artificial intelligence, big data analysis, machine learning, virtual and augmented reality, optical recognition, robotics, robotization of process, blockchain, and chat bots. The dynamics of the main indicators of a financial institution activity is analyzed, an assessment of indicators characterizing the dynamics of changes in capital, net profit and profitability of the bank is presented. It has been stated that the strategic directions for the development of business processes in VTB Bank (PJSC) are constructing an advanced operational and technological platform, increasing the level of digitalization of the banking business, leadership in the financial services market in a number of ecosystems, developing a highly productive organization and culture, as well as growing the customer-centricity of business models. The block diagram of the VTB Bank transformation for 2020–2022 and the target version of the IT architecture of the bank have been illustrated. Changes in the IT architecture are one of the stages of the bank's digital transformation strategy. According to the objectives of the strategy of VTB Bank (PJSC), 100% of financial services should become available to customers online.

Consolidation to shape East Africa mobile telecoms

2016 ◽  
Keyword(s):  
Social Media ◽  
Banking Sector ◽  
Mobile Network ◽  
Mobile Internet ◽  
Mobile Banking ◽  
World Economic Forum ◽  
Content Type ◽  
The World ◽  
World Economic ◽  
Regulatory Controls

Significance The firm plans to expand Kenya's 4G network, while pursuing a strategy of infrastructure sharing to contain costs. The move would augment the World Economic Forum-backed Northern Corridor initiative, which seek to extend affordable mobile internet to 75 million people. Impacts Growth in Ethiopia's mobile banking sector will expand at a modest pace due to strict regulatory controls. Authoritarian leaders facing social media-driven protests will likely use internet-blocking technology to frustrate opposition activists. Insecurity along the Kenya-Somali border will dissuade firms from installing mobile network towers there, curbing mobile penetration.

scholarly journals Study on the Changing landscape of financial Services in Indian Banking System Opportunities and Challenges

2018 ◽  
pp. 1-10
Author(s):  
Pradeep M.D. ◽  
Sonia Delrose Noronha
Keyword(s):  
Information Technology ◽  
Financial Services ◽  
Banking Sector ◽  
Banking System ◽  
New Era ◽  
Integration Of Technology ◽  
Technological Developments ◽  
Indian Banks ◽  
Tools And Techniques ◽  
User Friendly

Financial institutions are the backbone of the Indian economy. Since economic liberalization after 1990, the Indian banking sector has witnessed growth along with remarkable improvement in its quality of assets and efficiency. Information Technology has become one's way of life in today's world that, it is difficult to imagine a world without IT. Technology which facilitates handling increased volumes at higher levels of efficiency. Hence, there is an imperative need for not mere technology up gradation but also integration of technology with the general way of functioning of banks. The Banking sector is no exception to this changing scenario which is sweeping across the world. Technology has given birth to a new era in banking. Indian banks are continuously encouraging the investment in information technology through ATMs, Netbanking, Mobile and Tele-banking, Automation of the banks, increasing use of plastic money, and the establishment of call centers. Nowadays banks are moving from disbursed operations to a centralized environment, powered by Information Technology. Banks are using new tools and techniques to reach better to its customers by offering tailor made products and Services. The changes in the banking landscape facilitated banks to compete in the new environment. Banks of the future will be a user friendly enterprise with technology aiming to achieve sustainable and valued business status. Information Technology has been imbibed in the banking operations with a vision to provide “Anytime Anywhere Banking” with customized services. In this paper we have discussed and analyzed the Changing landscape of financial Services in Indian Banking System in terms opportunities and challenges of technological developments, legal regulatory framework, and risk management.

scholarly journals The Determinants of the use of Mobile Banking in Africa

2018 ◽  
Vol 1 (1) ◽  
pp. p245
Author(s):  
Alain T. SAWADOGO ◽  
Ndilengar MBATINA Nodji
Keyword(s):  
Financial Services ◽  
Information Technologies ◽  
Banking Sector ◽  
Credit Cards ◽  
Mobile Banking ◽  
Vending Machines ◽  
Main Variable ◽  
Qualitative Nature ◽  
Regulatory Measures ◽  
Globalising World

Since a few years, the banking sector in Africa has been transformed. The main factors that explain this transformation include the deleting of the regulatory measures of financial services, the effects of the globalising world and in particular the evolution of information technologies. It is now possible to offer alternative channels of distribution of services such as ATM and vending machines, credit cards and the mobile phone. The operators in the banking sector argue that the mobile bank would provide new opportunities for profits, cost reductions and a delivery of better services for customers. The objective of this paper is to analyse the determinants of the use of mobile banking in Burkina Faso. Taking into account the main variable of a qualitative nature, we used the logit model to perform the different estimates. Apart from the quality variables, gender, age, locality, it is that all the variables are significant to the thresholds of 1%, 5% and 10%.

Bank’s battle against insider frauds ignitors and mitigators: an emerging nation experience

2021 ◽  
Vol ahead-of-print (ahead-of-print) ◽  
Author(s):  
Neha Chhabra Roy ◽  
Sankarshan Basu
Keyword(s):  
Financial Services ◽  
Banking Sector ◽  
Market Competition ◽  
Banking System ◽  
Principal Component ◽  
Original Data ◽  
Content Type ◽  
Primary Survey ◽  
Different Types ◽  
Indian Banks

Purpose Banks are exposed to many challenges to name a few i.e. growing market competition, political environment, market forces of demand and supply, technological changes, frauds and poor management. The banking sector devasted experiences of fraud have impacted all facets of the Banking, Financial Services and Insurance. In continuation, this study aims to revolve around themes of different types of frauds, especially insider frauds that have gained mainstream attention in recent major value fraud events with prominent Indian banks. This study will identify the types and drivers of insider frauds. Design/methodology/approach The methodology opted for the study is through confidential primary survey and focused group discussion with risk officers of banks who are associated with Indian banks for more than three years, further to understand the relation between type of Insider frauds and originating drivers were paired based on the principal component analysis. Findings Finally, the paper concludes with the conceptual mitigation framework for different types of insider fraud and driver pairs within the scope of this paper. This paper thought will support policymakers of the Indian banking system to create a more robust environment within the banking system via timely detection of frauds so that up to an extent it can be squared before it appears. Originality/value The study is innovative in the area of banks’ internal fraud management, where original data collected through a primary survey contributes to the conclusion of fraud management for various Indian banks.

Digitalization of the Banking Sector: New Challenges and Prospects

2019 ◽  
pp. 81-89
Author(s):  
A. M. Abbasov ◽  
Z. F. Mamedov ◽  
S. A. Aliev
Keyword(s):  
Financial Services ◽  
Banking Sector ◽  
Internet Banking ◽  
Legal Framework ◽  
Mobile Banking ◽  
Electronic Payments ◽  
Banking Service ◽  
Scope Of Application ◽  
Characteristic Features ◽  
Digital Payments

The presented study examines the digital banking model in the context of globalization.Aim. The study aims to analyze the nature and current state of digital banking and to determine perspective directions for its development in Azerbaijan.Tasks. The authors examine the major trends in the development of digital banking, determine its classification relative to the Russian digital banking market, and identify perspective directions for its development in Azerbaijan.Methods. This study uses general scientific methods of cognition to examine in various aspects the models of development, its trends, characteristic features, and perspective directions in Azerbaijan. Results. The progress of both Internet banking and mobile banking is closely associated with e-commerce. Out of 30 banks operating in Azerbaijan, 27 use Internet banking and 25 use mobile banking. At this point, 25% of current account transactions in Azerbaijani banks are conducted via electronic payments. According to the UNCTAD B2C E-commerce Index, Azerbaijan ranks 68th among 144 countries in terms of e-commerce development. Therefore, the most important strategic priorities for the country include improving the variety, quality, and services in the field of digital payments by consolidating the institutional and legal framework of these services, increasing the infrastructure capacity, and facilitating mass use. Expanding the scope of application of digital payments in the context of transparent economic transactions would reduce the costs associated with cash and operating losses of banks and institutions, which would in turn open up new opportunities for modern financial services, thus enhancing economic growth.Conclusions. Development of digital banking is a path toward economic transparency, shrinking of the underground economy, and an increase in tax revenues, the number of jobs, and GDP. The Central Bank of Azerbaijan (CBA) is taking systemic measures aimed at expanding the digital transformation of the banking service and payment system. The implementation and development of innovative banking products should be reflected in the strategy of every bank. Digitalization could become one of the forces driving the development of the baking system and increase the level of trust between depositors and banks, making this sector more transparent. However, there is one major obstacle: a lack of understanding that business should be urgently transformed using digital technology.

An Empirical Investigation of Mobile Banking Adoption in Developing Countries

2014 ◽  
Vol 10 (1) ◽  
pp. 76-93 ◽  
Author(s):  
Raju Pavithran ◽  
G. Varaprasad ◽  
R. Sridharan ◽  
Anandakuttan B. Unnithan
Keyword(s):  
Developing Countries ◽  
Perceived Risk ◽  
Banking Sector ◽  
Ease Of Use ◽  
Perceived Usefulness ◽  
Relative Advantage ◽  
Mobile Banking ◽  
Perceived Ease Of Use ◽  
Personal Innovativeness ◽  
Competitive Edge

Mobile phone has become an integral part of our lives. The penetration rate of mobile phones in the developing countries has increased abruptly and this is a good sign for the banking sector. Mobile banking is the most recently launched innovative feat in the banking sector. The unique ability of mobile banking to perform banking transactions irrespective of place and time has given a competitive edge over traditional banking. Even though, all circumstances are in favour of mobile banking, it has failed to take off in most of the developing countries. Hence, the main objective of the study is to find out the constructs which affect the adoption of mobile banking in India. A model has been proposed with the factors namely perceived usefulness, perceived ease of use, self-efficacy, perceived risk, perceived enjoyment, relative advantage, compatibility, trust, social influence and personal innovativeness. The proposed model has been tested using various statistical analyses and the findings of this study reveal that relative advantage has the strongest relationship with the intention to use mobile banking.

scholarly journals Digital Banking and Financial Inclusion of Women Enterprises in Narok County, Kenya

2020 ◽  
Vol 2 (1) ◽  
pp. 28-41
Author(s):  
Kisotu David Melubo ◽  
Salome Musau
Keyword(s):  
Financial Services ◽  
Banking Sector ◽  
Target Population ◽  
Online Banking ◽  
Financial Inclusion ◽  
Primary Data ◽  
Mobile Banking ◽  
Banking Services ◽  
Financial Exclusion ◽  
The Many

Financial inclusion is an important step in development, as access to finances can help the women to build money and lift themselves out of poverty. Lack of financial inclusion among women in Narok County is one of the many factors leading to financial exclusion and an introduction of digital banking is the remedy to its problems. Financial inclusion of women contributes immensely in empowering them. Digital banking in Kenya has been characterized by rapid technological change in the finance sector that has led to the development of mobile banking, online banking, ATMs and agency banking. The banking sector has undergone substantive transformation particularly from the year 2007. This study sought to establish the effects of digital banking and financial inclusion of Women Enterprises in Narok County, Kenya. Financial inclusion includes the provision of affordable financial services, which includes; access to payments and remittance facilities, savings, loans and insurance services by the formal financial system to those who tend to be excluded The study was anchored on finance growth theory and financial asymmetric theory. This study used descriptive research design and data was collected from the target population of all the 184 women owned enterprise in Narok County, Kenya. For this study census sampling was adopted to where all the population will be included in study since the number of target population is 184. Primary data was collected using a semi structured questionnaire to be administered to the women business owner through face to face interviews. The collected data was analysed using descriptive statistics methods; mean, mode, median, standard deviation, percentages and frequencies. Inferential statistical methods included multiple regression analysis was used to establish the relationship among variables. It was established that digital banking services significantly and positively influenced financial inclusion of women enterprises in Narok County. The study concluded that agency banking, mobile banking, online banking and ATM services significantly influenced the access and use of banking services by the locally based women enterprises in Narok County. It was further concluded that the women enterprises did not adequately use online banking due to limited literacy level, computer proficiency and internet availability. The study recommends that the available financial sector players in Narok County needs to sensitize SMEs especially women-owned to ensure that they are aware of the digital services available to be in the loop to enhance financial inclusion. The study recommends that the available digital banking providers need to improve formation of groups among the users of the services to enable improve usability. The study recommends further that the women enterprises managers and proprietors need to be in groups to develop each other and assist access, use and improve digital banking and financial inclusion.

scholarly journals Trends and Challenges in Indian Banking Sector

2017 ◽  
Vol 4 (37) ◽  
Author(s):  
Deepika Kamboj
Keyword(s):  
Economic Growth ◽  
Financial Services ◽  
Banking Sector ◽  
Critical Role ◽  
Foreign Banks ◽  
Basel Iii ◽  
Mobile Banking ◽  
Talent Retention ◽  
Supervision Model ◽  
Public Banks

The Indian banking sector has played a critical role in the overall economic growth. Private and foreign banks have started to gain traction in the sector typically dominated by government owned public banks. The sector’s assets have expanded vastly on account of several factors such as financial inclusion, increased competition, Indradhanush program, on-tap bank licensing, focus on mobile banking and technology along with others. While the sector has grown significantly, challenges and roadbloacks such as weak capital position of public banks, rise in non-performing assets, poor talent retention, weak consumer protection norms continue to haunt the sector and the overall economic growth. To counter these challenges, RBI has initiated reforms such as implementation of Basel III, enhanced provisioning for NPA, revised framework for resolution of stressed MSME loans, implementation of strategic debt restructuring (SDR), shift to a risk-based supervision model along with proposing a unified financial services regulator.

scholarly journals International financial fraud: economic and psychological aspects, classification and ways of minimization

2021 ◽  
Vol 189 (5-6(1)) ◽  
pp. 15-25
Author(s):  
Elena Gryazeva ◽  
◽  
Olga Mayorova ◽  
Natalia Malchikova ◽  
Maria Nemkova ◽  
...  
Keyword(s):  
Public Relations ◽  
Financial Services ◽  
Information Technologies ◽  
Business Processes ◽  
Banking Sector ◽  
Global Scale ◽  
Economic Behavior ◽  
Financial Fraud ◽  
Negative Experience ◽  
Corporate Fraud

The active use of the latest information technologies and non-cash payment forms has led to an increase in various types of fraud in the financial sector. Moreover, virtually all spheres of public relations now fall under the risk of fraudulent schemes, starting from financial credit and insurance and ending with foreign economic activity and the Internet. In addition, some other economic factors contribute to the significant spread of fraudulent schemes in modern conditions: a wide variety of new financial instruments (types of money, securities, financial services); rapid growth in financial transactions; leveling barriers to the unhindered movement of money, goods, and services in the process of globalization, which provokes an increase in transnational financial crime. Therefore, in search of tools to preserve existing and generate potential income, especially trusting investors fall into the traps of scammers. With the development of the current economic institutionalism, the principle of rationality in human economic behavior was no longer considered absolute, therefore, representatives of the institutional theory noted the irrational nature of human behavior, including in the field of economics and finance. Modern reality and economic practice are clear evidence of the truthfulness of this thesis. After all, despite the constant warnings of the mass media and other sources regarding various fraudulent schemes, as well as (paradoxically) often their own negative experience, citizens continue to invest in various kinds of fraudulent schemes. According to experts, the main reason is that «people will always strive for «easy» money, and it is unlikely that this desire will ever disappear» (Bruton, 2015). In this paper, we study the possibilities of preventing financial fraud on an international scale. In the context of the complexity of modern business processes, one of the most urgent problems has become the problem of activating the manifestations of corporate fraud. On average, companies lose about 5% of their profits due to corporate fraud, and the annual losses from such economic crimes amount to about USD 4 trillion on a global scale. In Russia, this figure reaches 15% (and we are talking only about losses made public by companies). The lion’s share of fraudulent schemes falls on the banking sector. The implementation of fraudulent schemes in the banking sector has certain features, in particular: fraudulent actions cause damage not only to banks and their depositors, but also negatively affect the stability of the financial system as a whole; such crimes are characterized by high latency, since managers, fearing for the business reputation of their bank, only in isolated cases turn to law enforcement agencies with appropriate statements; identifying the facts of financial fraud is very difficult since fraudsters (often not without the help of bank managers) hide their actions in every possible way and take measures to launder funds obtained by criminal means.

Sign in / Sign up

Export Citation Format

Share Document