FinTech, BigTech and Banks : Digitalisation and its Impact on Banking Business Models

Krishna, B. Hari; Kumar, Arun

doi:10.17010/ijf/2020/v14i5-7/153326

Cited by 2 publications

(2 citation statements)

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“…The exploration of FinTech's development and spread by highlights the fluidity of digital business models and underscores the imperative for traditional banking entities to evolve in response to these advancements. The digitalization of financial markets and services has significantly impacted banking business models, with FinTech and BigTech firms leading this transformation (Krishna & Kumar, 2020). The operational and regulatory challenges faced by financial institutions in adapting to new technologies underscore the importance of strategic approaches to meet customers' expectations for innovative products and services.…”

Section: Adaptation and Evolution Of Fintech Business Modelsmentioning

confidence: 99%

“…The operational and regulatory challenges faced by financial institutions in adapting to new technologies underscore the importance of strategic approaches to meet customers' expectations for innovative products and services. Krishna and Kumar (2020) highlight the strategic investments and partnerships between large banks and FinTech firms as a means to enhance customer services and offer innovative financial products. Moreover, the regulatory landscape for FinTech is continuously evolving, with regulatory bodies across the globe focusing on improving financial inclusion and addressing the challenges posed by the digital economy (Mahalle, Yong & Tao, 2021).…”

Section: Adaptation and Evolution Of Fintech Business Modelsmentioning

confidence: 99%

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Data Privacy Laws and Their Impact on Financial Technology Companies: A Review

Adedoyin Tolulope Oyewole,

Bisola Beatrice Oguejiofor,

Nkechi Emmanuella Eneh

et al. 2024

Comput. sci. IT res. j.

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In an era where the digital transformation of financial services is both a boon and a battleground, this paper meticulously navigates the intricate relationship between Financial Technology (FinTech) and the evolving landscape of data privacy laws. With the digital economy's expansion, FinTech companies stand at the forefront of innovation, offering unprecedented financial inclusion and efficiency opportunities. However, this rapid advancement also raises significant concerns regarding data privacy and consumer protection, necessitating a delicate balance between innovation and compliance. This study aims to dissect the complexities inherent in this relationship, exploring the impact of data privacy laws on FinTech, regulatory compliance challenges, and opportunities for fostering trust and innovation within the digital financial ecosystem. Employing a qualitative research design, the paper delves into a comprehensive review of scholarly literature, legal documents, and regulatory frameworks to illuminate the multifaceted dynamics at play. The findings reveal a nuanced "Innovation Trilemma," where FinTech's drive for innovation often collides with the imperative for market integrity and regulatory clarity. The study underscores the critical role of ethical considerations in FinTech adoption, highlighting the importance of integrating ethical practices to safeguard consumer rights and data protection. Conclusively, the paper advocates for regulatory adaptability, ethical innovation, and collaborative engagement among stakeholders as essential strategies for navigating the complexities of the digital financial landscape. It calls for a concerted effort to foster an ecosystem where innovation thrives alongside robust consumer protection and market integrity, paving the way for a sustainable, inclusive and ethically grounded FinTech future. Keywords: Financial Technology, Data Privacy Laws, Regulatory Compliance, Innovation Trilemma, Ethical FinTech, Digital Financial Ecosystem.

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Section: Adaptation and Evolution Of Fintech Business Modelsmentioning

confidence: 99%

Section: Adaptation and Evolution Of Fintech Business Modelsmentioning

confidence: 99%

Data Privacy Laws and Their Impact on Financial Technology Companies: A Review

Adedoyin Tolulope Oyewole,

Bisola Beatrice Oguejiofor,

Nkechi Emmanuella Eneh

et al. 2024

Comput. sci. IT res. j.

View full text Add to dashboard Cite

show abstract

Artificial Intelligence Enterprise Management Using Deep Learning

Liu

Han

2022

Computational Intelligence and Neuroscience

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In this paper, we explore the application status of deep learning (DL) in enterprise management, with China Merchants Bank as an example, and the role of DL in bank enterprise management. We analysed the application status of AI in marketing, risk control, investment, and other fields of CMB and identified five types of problems encountered in the current practical application of AI. We proposed five countermeasures: strengthening the AI organisation system’s construction, enhancing the financial data guarantee mechanism, concentrating on customer-oriented, tightly managing the danger of AI technology, and building a full AI talent system. Recent data are used to assess the impact of DL in marketing, risk management, and investment consulting. According to the data, by the end of 2019, the number of clients of CMB’s two APP platforms had reached 114 million and 91.2643 million, respectively. In 2019, CMB’s personal savings balance climbed by roughly 53% compared to 2016, and its personal loan amount increased by approximately 61%. These findings indicate that the use of AI improves consumer happiness and trust in businesses.

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FinTech, BigTech and Banks : Digitalisation and its Impact on Banking Business Models

Cited by 2 publications

References 0 publications

Data Privacy Laws and Their Impact on Financial Technology Companies: A Review

Data Privacy Laws and Their Impact on Financial Technology Companies: A Review

Artificial Intelligence Enterprise Management Using Deep Learning

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