The Revolution In Banking And The Financial Services Industry
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| Author | : Luigi Wewege |
| Publisher | : Walter de Gruyter GmbH & Co KG |
| Total Pages | : 152 |
| Release | : 2019-12-02 |
| Genre | : Business & Economics |
| ISBN | : 1547401613 |
Emergent innovative financial technologies are profoundly changing the way in which we spend, move and manage our money, unlike ever before, and traditional retail banks are facing stiff competition. The global financial crisis in 2007–2009 led to large losses, and even the collapse of a significant number of established banks shaking the trust of financial customers worldwide. The Digital Banking Revolution is an insightful look at how financial technology and the rapid rise of financial technology companies have brought welcome changes offering flexibility to the banking industry. The book offers a unique perspective on the consumerization of retail banking services. It delves into the many changes that financial innovations have brought about in banking, the main financial disruptors, the new era of "banking on the go," and financial innovations from countries around the world before concluding with a discussion on the future of banking including optimizing structures, new strategies for business outcomes, and human resources in the digital era.
| Author | : Michael R. King |
| Publisher | : University of Toronto Press |
| Total Pages | : 443 |
| Release | : 2020-08-26 |
| Genre | : Business & Economics |
| ISBN | : 1487533144 |
The financial services industry is being transformed by heightened regulation, technological disruption, and changing demographics. These structural forces have lowered barriers to entry, increasing competition from within and outside the industry, in the form of entrepreneurial fintech start-ups to large, non-financial technology-based companies. The Technological Revolution in Financial Services is an invaluable resource for those eager to understand the evolving financial industry. This edited volume outlines the strategic implications for financial services firms in North America, Europe, and other advanced economies. The most successful banks, insurance companies, and asset managers will partner with financial technology companies to provide a better and more innovative experience services to retail customers and small businesses. Ultimately this technological revolution will benefit customers and lead to a more open and inclusive financial system.
| Author | : Alex Tapscott |
| Publisher | : |
| Total Pages | : |
| Release | : 2020 |
| Genre | : Banks and banking |
| ISBN | : 9781988025513 |
| Author | : Sankar Krishnan |
| Publisher | : John Wiley & Sons |
| Total Pages | : 192 |
| Release | : 2014-05-19 |
| Genre | : Business & Economics |
| ISBN | : 1118914244 |
Today's tech-savvy consumers are demanding a more personal customer experience from their banks, and banks are discovering that mobile services deliver individualized, tailored experiences better than any other technology. The Power of Mobile Banking: How to Profit from the Revolution in Retail Financial Services gives banking and financial professionals a well-researched guide for becoming transformational leaders. These leaders can convert their traditional retail "branch" banks into streamlined systems that deliver personalized services to their customers' laptops, tablets, and smartphones. Written by Sankar Krishnan—a career banker and noted financial services industry thought leader—The Power of Mobile Banking includes strategies for adapting mobile banking practices that suit the needs of both developed and emerging markets. Krishnan also shows how bankers can make their products and services relevant to a new generation of digital natives. Krishnan explores the expanding mobile payment systems that offer a wealth of financial opportunities for banking institutions and includes information on the growth of e-commerce, which holds the potential for new and profitable ways for banks to engage with consumers. The Power of Mobile Banking outlines the practical aspects of adapting to a mobile banking strategy and shows how to put the right players in place to ensure the technology works seamlessly. Once in place, a great mobile system delivers excellent service and benefits to users, as well as real value and unique features that cement customer loyalty. The book also offers advice for bankers who want to increase their bottom line by delving into the world-wide prepaid card market. Krishnan includes a discussion on the risks and hazards of mobile banking and reveals the critical investments that banks must be willing to make in order to avoid losing customers to telecoms, retailers, and technology providers. The time for retail banking to prepare for the new paradigm is now and The Power of Mobile Banking is the guide for professionals who want to adapt, evolve, and succeed in this new mobile-driven world.
| Author | : Luigi Wewege |
| Publisher | : Scribl |
| Total Pages | : 108 |
| Release | : 2017-02-14 |
| Genre | : Business & Economics |
| ISBN | : 1365685888 |
Over the past decade financial service innovations have contributed to a completely new way in which customers can bank, threatening the status quo of traditional retail banks, and redefining a banking model which has been in place for generations. These new technological advancements have facilitated the rapid emergence of digital banking firms and FinTech companies, leading to established banks being forced to swiftly increase their pace of digital adoption to stay relevant and stop mass client attrition to these agile financial start-ups. These threats come at an inopportune time for banks due to mature markets currently experiencing stagnant growth. This coupled with decreasing profit margins due to the competitive pricing of new entrants, and financial customer loyalty becoming ever increasingly more tenuous.
| Author | : Terri Friedline |
| Publisher | : Oxford University Press, USA |
| Total Pages | : 313 |
| Release | : 2020-12 |
| Genre | : Business & Economics |
| ISBN | : 0190944137 |
"The Revolution Will Not Be Financed takes the perspective that the financial system needs a revolution-and not the impending revolution driven by technology. Studying various ways the financial system advantages whites by exploiting and marginalizing Black and Brown communities, Terri Friedline challenges the optimistic belief that fintech can expand access to banking and finance. Friedline applies the lens of financialized racial neoliberal capitalism to demonstrate the financial system's inherent racism, and explores examples from student loan debt, corporate landlords, community benefits agreements, and banking and payday lending. She makes the case that the financial system needs a people-led revolution that centers the needs, experiences, and perspectives of those that it has historically excluded, marginalized, and exploited"--
| Author | : Pierluigi Martino |
| Publisher | : Springer Nature |
| Total Pages | : 109 |
| Release | : 2021-04-05 |
| Genre | : Business & Economics |
| ISBN | : 3030709701 |
This book explores blockchain technology’s impact on banks, particularly how blockchain technology can create new opportunities for banks and poses new threats to their business. The digital revolution in the banking industry, whose customers are increasingly adapting to new technologies and new types of competitors and solutions arising in the space, has had a significant impact on the banking industry over the past few years, requiring banks to substantially rethink their business models and strategies in order to cope with these developments. The rise of blockchain’s distributed ledger technology (DLT) has also played an important role since it has the potential to change the whole banking industry in faster and more disruptive ways than ever before. Born as the technology underlying Bitcoin, which has been used to allow the recording of cryptocurrencies transactions, blockchain can facilitate the process of recording any transaction type and track the movement of any asset, finding application in many different areas. Specifically, it has been acknowledged as a disruptive force in the financial sector and a key source of future financial market innovation with the potential to reshape existing business models in the financial services industry. Regarding the banking industry in particular, existing literature suggests that blockchain poses new challenges and generates opportunities as well as threats. This is pushing banks to rethink their operations, business models and strategies. However, literature in this regard is still in its infancy, and we do not yet have a clear understanding of blockchain technology’s potential implications for banks. This book expands the literature on blockchain technology in banking by providing new insights into the developments, trends and challenges of blockchain in the banking industry. In particular, sheds more light on the implications of blockchain technology for banks by discussing the advantages and disadvantages related to this technology and exploring its potential impact on traditional banking business models.
| Author | : Thomas W. Harvey |
| Publisher | : Irwin Professional Publishing |
| Total Pages | : 392 |
| Release | : 1996 |
| Genre | : Business & Economics |
| ISBN | : |
Challenges, solve the problems and chart a new course in this changing industry.
| Author | : Sofie Blakstad |
| Publisher | : Springer |
| Total Pages | : 405 |
| Release | : 2018-06-06 |
| Genre | : Business & Economics |
| ISBN | : 3319760149 |
This book is a practical guide to the evolving landscape of finance, highlighting how it’s changing our relationship with money and how financial technology, together with macroeconomic and societal change, is rewriting the story of how business is done in developing economies. Financial services companies are trying to become more customer focused, but struggling to help huge customer segments, particularly in developing economies. Alternative financial models and tools are emerging, which are being embraced by consumers and incumbents. In large parts of the developing world, alternative services are leapfrogging traditional finance, meaning more and more people have access to finance without ever needing a bank. Meanwhile, the barriers around financial services companies are crumbling, as they become more reliant on integration with new providers and alternative types of service. Financial products can no longer be viewed in isolation, but as part of a service landscape that supports how people do life. This means rethinking how our businesses are designed, motivated and organised, and letting go of the old ways of thinking about supply and demand. With practical steps businesses and, in particular, financial services organisations need to take to participate in a global service ecosystem, this book will be of interest to financial professionals who work in banking, financial technology, and development finance.
| Author | : Management Association, Information Resources |
| Publisher | : IGI Global |
| Total Pages | : 671 |
| Release | : 2021-02-05 |
| Genre | : Business & Economics |
| ISBN | : 1799886034 |
FinTech, an abbreviated term for financial technology, is a digital revolution changing the way banking and financial services are being used both by individuals and businesses. As these changes continue to take place, the financial industry is focused on technological innovation and feeding into this digital revolution to better serve consumers who are looking for easier ways to invest, transfer money, use banking services, and more. FinTech is increasing accessibility to financial services, automating these services, expanding financial options, and enabling online payments and banking. While the benefits are being continually seen and this technology is becoming more widely accepted, there are still challenges facing the technology that include security concerns. To understand FinTech and its role in society, both the benefits and challenges must be reviewed and discussed for a holistic view on the digital innovations changing the face of the financial industry. The Research Anthology on Concepts, Applications, and Challenges of FinTech covers the latest technologies in FinTech with a comprehensive view of the impact on the industry, where these technologies are implemented, how they are improving financial services, and the security applications and challenges being faced. The chapters cover the options FinTech has unlocked, such as mobile banking and virtual transactions, while also focusing on the workings of the technology itself and security applications, such as blockchain and cryptocurrency. This book is a valuable reference tool for accountants, bankers, financial planners, financial analysts, business managers, economists, computer scientists, academicians, researchers, financial professionals, and students.
