Challenges for Banking Services in the Knowledge Economy

Abstract

In this paper, we have covered many of the roles that banks play in the financial system. Banks act as delegated monitors that ensure that economic agents allocate their resources effectively, thus leading to the sustainable development of entrepreneurship. Moreover, they also play an important role in sharing risks in the economy and protecting economic agents against market fluctuations through various means such as financial derivatives. These are the positive aspects of the roles of banks, but it should be noted that the way banks act to ensure an acceptable rate of return can cause fragility and instability throughout the financial system. In fact, banks are most often at the center of financial crises, as in the case of the global financial crisis that began in the summer of 2007. Banks may even contribute to spreading the negative effects of these financial crises because small shocks can have major effects on the financial system and economy. Banks also play an important role by facilitating the access of economic agents to financing and contributing to the development of the economy. In addition, they are important for good corporate governance, especially in countries such as Germany where bankers hold positions on the boards of private companies and can represent more shareholders in voting decisions.

Digital Transition at Golden Years: Uncovering What Fuels, the Shift to Digital Banking Services Among Malaysian Seniors

“…Previous research has confirmed that habit is one of the key predictors of customer intention and behaviour when adopting mobile or internet banking services. Habitual behaviour in using a technology plays a big part in facilitating consumers' actual behaviour towards mobile banking (Farzin et al, 2021;Alalwan et al, 2015;Hadad, 2013;Venkatesh et al, 2012) In line with these findings (Anggraeni et al, 2021), also found that habit is a goaldirected automatic response, that leads to high predictive power. Taking this into consideration, habit is found to be the main antecedent of usage.…”

“…Likewise, research conducted by (Farzin et al, 2021;Alalwan et al, 2015;Hadad, 2013;Venkatesh et al, 2012) discovered that habitual behaviour in using technology plays a big part in facilitating consumers' actual intention to adopt mobile banking services.…”

Social economy enterprises contributing to the circular economy and the green transition in Romania

“…On the other hand, it is also important to mention that The UN Inter-Agency Task Force on Social and Solidarity Economy (UN Inter-Agency Task Force on Social and Solidarity Economy, 2014) noted the importance of the Social and Solidarity Economy, indicating that it could play a key role in achieving the 2030 Agenda and the 17 Sustainable Development Goals. Social and Solidarity Economy, as an alternative development model, holds considerable promise for addressing the economic, social, and environmental integrated approaches to sustainable development (Barna, 2020). At the beginning of 2022, OECD, together with European Commission launched the report "Policy brief on making the most of the social economy's can contribute to the circular economy", detailing how specific assets of the social economy can contribute to the actual circular economy challenges: the social economy has a demonstrated experience in developing circular activities, the social economy makes the transition to the circular economy more inclusive, the social economy can inspire business models and practices based on collaboration at the local level, the social economy furthers stakeholder engagement and improves social acceptance of circular products and green technologies, and it promotes more circular and sustainable behaviors (OECD/European Commission, 2022).…”