Impact of selected factors on digitalization of financial sector

Abstract

The financial sector is introducing new services to meet consumer needs at a time of information society and rapid technological awareness growth. The study aims to summarize the existing global trends in banking sector digitalization and informatization and assess the impact of selected macroeconomic indicators on them. The World Bank's data were used for the principal analysis. We offer a novel model for evaluating relationships between banking digitalization and macroeconomic processes based on theoretically grounded assumptions. For a detailed study of banking informatization, countries with similar indicators ofResearchers in R&D per million people to Ukraine were selected (Romania,

Sustainable Banking–A Quantitative Case in the Middle East Using MCDM and SEM Methods

“…Summarizing the green competitiveness concept, studied recently by (Cheng et al, 2019); (Cheng et al, 2018); (Fu et al, 2017a); (Tsai et al, 2015); (Duffett et al, 2018); (Fu et al, 2017b), (Lin & Chen, 2017); (Mishra, n.d.); (Konuk et al, 2015); (Mwesigwa Banya & Biekpe, n.d.); (Wang et al, 2016); (Barysienė et al, 2015); (Khvesyk et al, 2018), (Barysienė et al, 2015); (Maitre et al, 2018); (Khalatur et al, 2022). It was found that the majority of researchers are looking into different aspects of green competitiveness, such as energy consumption and energy-saving competitiveness (16.66%), infrastructure, construction, and innovation competitiveness (16.66%), ecological environment competitiveness related to environmental protection (33.33%), economic and social sustainable competitiveness (33.33%), natural resource competitiveness (16.66%), and employees' skills and human resource competitiveness (14.66%).…”

Unraveling Digital Transformation in Banking: Evidence from Romania

“…Other studies discussing the issue of banking digitalization acknowledge that new technologies will also further improve the quality of services and intensify the growth in the banking sector, as well as the economic growth of the country [3,4]. Banking automation and digitalization will continue due to ongoing innovation in the banking system and Systems 2023, 11, 534 2 of 28 also due to pressure from adjacent industries competing with the banking system in various segments.…”

“…It is hypothesized that regions or nations with advanced levels of digitalization will witness improved economic outcomes, including heightened GDP growth and augmented production. Understanding the dynamics of global economic growth with respect to the digitization of the financial sector is crucial [3]. Enhancing financial accessibility has a positive impact on economic growth, while simply having greater access to banking services does not necessarily spur economic growth [40].…”