Personalization of Banking Products (Services) using Digitalization Technologies

This study investigates the transformative potential of blockchain technology in financial accounting by examining its applications, challenges, and implications. The study begins with a review of blockchain’s origins and its ability to address inefficiencies, fraud risks, and transparency limitations in traditional accounting. A mixed-methods approach was employed, combining qualitative thematic analysis and quantitative statistical techniques. The qualitative analysis involved thematic coding of data from case studies and organizational reports, while the quantitative analysis assessed financial data using descriptive and inferential statistical methods. Eight organizations from diverse industries—including banking, retail, and technology—were purposively sampled to capture varied experiences and applications of blockchain technology. Key findings reveal blockchain’s ability to enhance transparency, efficiency, and security in financial transactions, offering significant advantages for financial reporting and auditing. However, challenges such as regulatory uncertainties, scalability concerns, and technical complexities remain barriers to its widespread adoption. This research provides actionable recommendations to overcome these challenges and maximize blockchain’s benefits in financial accounting. By integrating theoretical insights with empirical evidence, this study contributes to advancing the understanding of blockchain’s role in transforming financial practices, offering practical guidance for academia and industry practitioners alike.

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The Role of International Accounting Standards in Fostering Corporate Reporting Transparency

Poyda-Nosyk,

Bacho,

Makarovych

et al. 2024

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This research investigates the multifaceted impact of International Accounting Standards (IAS) on corporate reporting transparency. Amidst the interconnected global business landscape, the study aims to discern global adoption trends, financial reporting quality, stakeholder perceptions, implementation challenges, and the responsiveness of IAS to industry dynamics. Through meticulous analyses spanning the years 2010 to 2020, the research unfolds key insights.The adoption of IAS is a critical facet of global financial reporting, influencing business practices, investor decisions, and regulatory frameworks. Understanding its impact is paramount for policymakers, standard-setters, and businesses navigating an increasingly interconnected and diverse financial ecosystem.This research seeks to comprehensively examine the intricate relationship between IAS and corporate reporting transparency. By delving into adoption trends, financial metrics, stakeholder perspectives, implementation challenges, and update responsiveness, the study aims to provide a holistic view of the global accounting landscape.The analysis reveals a consistent upward trajectory in global IAS adoption, with North America and the Asia-Pacific region playing pivotal roles. Financial reporting quality experiences substantial improvements, particularly benefiting smaller enterprises. Stakeholder perceptions vary across regions and professional roles, emphasizing the need for tailored communication strategies. Implementation challenges, including legal framework complexities and cultural differences, underscore the intricate nature of global adoption. The frequency of IAS updates showcases the adaptability of standards to emerging trends, emphasizing sector-specific implications.This research concludes that IAS significantly influences corporate reporting transparency, offering a standardized framework for diverse business scales. Challenges in implementation necessitate targeted interventions, with recommendations focusing on stakeholder communication, tailored support for small enterprises, and addressing legal and cultural complexities. The adaptability of IAS to industry dynamics reaffirms its role as a responsive and evolving standard. As businesses, regulators, and standard-setters move forward, continuous collaboration and flexibility become imperative for navigating the complexities of a globally harmonized financial reporting landscape.

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Personalization of Banking Products (Services) using Digitalization Technologies

Cited by 4 publications

References 25 publications

Development of a person-oriented model based on web site data filtering

Development of a person-oriented model based on web site data filtering

Development of Blockchain Technology in Financial Accounting

The Role of International Accounting Standards in Fostering Corporate Reporting Transparency

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