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Book part
Publication date: 10 May 2023

Aradhana Sharma, Dhiraj Sharma and Rajni Bansal

Introduction: Blockchain technology is the method of storing the data systematically, such that it is impossible to change, defraud or hack the data. Distributed Ledger Technology…

Abstract

Introduction: Blockchain technology is the method of storing the data systematically, such that it is impossible to change, defraud or hack the data. Distributed Ledger Technology is another name for this technology. It is like a digital ledger of numerous transactions stored or distributed throughout the Blockchain extensive network by a computer system. Banks offer critical services like payments, clearance and settlement systems, trade finance, securities, etc. Hence, there are fraud and mistakes in these key services due to many manual procedures and human mediators.

Purpose: The main purpose of this chapter is to study the emerging role of Blockchain in banking services. This chapter will attempt to examine the significance and applications of Blockchain in banking operations. This chapter will also investigate the challenges encountered by banks in adopting Blockchain technology.

Research Methodology: In this research chapter, secondary data are collected by studying the various journal papers and scholarly articles, with exact keywords like: blockchain, banking sector, applications and blockchain role. Data are collected from the Emerald, Springer Open, Google Scholar, and Science Direct databases.

Findings: This technology will enhance transparency in banking transactions in the coming future. The adoption of Blockchain will transform the banking system in many ways, such as faster payment and settlement systems, security management and fundraising.

Details

Contemporary Studies of Risks in Emerging Technology, Part A
Type: Book
ISBN: 978-1-80455-563-7

Keywords

Book part
Publication date: 29 May 2023

Ngo Duc Tien

Purpose: Thanks to the Fourth Industrial Revolution and the digital economy, digital banking has become an attractive business trend. Moreover, the spreading of the Covid-19 virus…

Abstract

Purpose: Thanks to the Fourth Industrial Revolution and the digital economy, digital banking has become an attractive business trend. Moreover, the spreading of the Covid-19 virus worldwide over the past two years has boosted the digitalisation of banking services. The development of digital banking is now becoming an uncontroversial issue that will attract the concern of scholars, bank managers, and policy-makers.

Methodology: As an emerging country with a young population having significant digital appliance joy, Vietnam will be a perfect case study to research the development of digital banking. Besides, digital banks, as well as the appliances of artificial intelligence (AI) in the banking sector, have appeared in Vietnam’s banking system at several different levels.

Findings: Moreover, most commercial banks in Vietnam are now in the race to complete their digital services to provide innovative digital banking services that add more value to their clients. Hence, the chapter will describe the overall picture of Vietnam’s current digital banking market.

Implications: Based on the crucial features of the operations of several digital banks and the appliances of AI in the digital banking sector in Vietnam during the chosen period, the author would like to give information on the potential of the Vietnamese digital banking market and suggest the key policies which the Vietnamese government should consider to support the digital transformation of the banking sector in Vietnam.

Details

Smart Analytics, Artificial Intelligence and Sustainable Performance Management in a Global Digitalised Economy
Type: Book
ISBN: 978-1-80382-555-7

Keywords

Article
Publication date: 17 September 2019

Imaduddin Sahabat, Tumpak Silalahi, Ratih Indrastuti and Marizsa Herlina

The financial turbulence resulting from the global financial crisis sparked the interest in improving understanding of financial risks. The transmission of financial institution…

358

Abstract

Purpose

The financial turbulence resulting from the global financial crisis sparked the interest in improving understanding of financial risks. The transmission of financial institution failures can be determined from the prevailing network structures between banks. The purpose of this study is to identify relationship between payment system network characteristics and financial system condition.

Design/methodology/approach

The characteristics of the interbank network structure in the payment system are identified using a graph theory and the relationship between the network characteristics of interbank transactions in the payment system and financial system stability is examined using a vector auto regression model.

Findings

This study shows that the connectedness of large-value payment transaction is more segmented compared to that of retail value payments. A significant relationship is observed between the characteristics of the network and the large-value payment transactions.

Research limitations/implications

This study found the connectedness of large-value transactions is more segmented when compared to retail-value transactions. It also shows a causal effect of the network characteristic on the financial system stability.

Originality/value

Unlike existing studies, this study considers both the connectedness in large-value transactions and retail-value transactions.

Details

Studies in Economics and Finance, vol. 37 no. 1
Type: Research Article
ISSN: 1086-7376

Keywords

Expert briefing
Publication date: 9 October 2020

This campaign is part of a broader escalation of cyberattacks that aim to generate financial and non-financial rewards for the state.

Details

DOI: 10.1108/OXAN-DB256768

ISSN: 2633-304X

Keywords

Geographic
Topical
Article
Publication date: 7 August 2017

Bijoylaxmi Sarmah, Zillur Rahman and Shampy Kamboj

The purpose of this paper is to develop a conceptual framework to empirically examine and explain the antecedent factors of consumers’ adoption intention toward co-creatively…

1277

Abstract

Purpose

The purpose of this paper is to develop a conceptual framework to empirically examine and explain the antecedent factors of consumers’ adoption intention toward co-creatively developed new travel services using smart phone apps. The antecedents include consumer innovativeness, trust, degree of co-creation that results in positive adoption intention. In this study, tourists’ degree of co-creation acts as a mediator between trust and adoption intention.

Design/methodology/approach

Data were collected through online surveys from tourists that resulted into a total of 152 valid responses. An analysis of data was done by applying the confirmatory factor analysis along with structural equation modeling.

Findings

The findings of this study indicate that both consumer innovativeness and trust significantly affect adoption intention directly and indirectly via degree of co-creation among tourists and e-travel service providers. Degree of co-creation acts as a mediator between the above-mentioned relationships.

Research limitations/implications

Use of smart phone apps by tourists’ and e-travel companies to co-create new services and tourists’ adoption intention have been examined in context of co-created service innovation that limits the generalizability of the results to other industries. A few other limitations are also discussed.

Practical implications

The findings of this study guides the policy planners and e-travel company managers toward application of mobile technology in consumer co-creation in context of service innovation.

Originality/value

Tourists’ trust in the e-travel companies and their innovativeness were found to influence their degree of co-creation, which are instrumental in developing adoption intention toward co-creative new service innovation using smart phone apps in India. This is a significant addition to the existing literature, as studies on co-creation activities aiming to co-develop new services by tourists and e-travel companies in India are scant in number. In addition to this, the newly developed conceptual model also highlights the role of degree of co-creation as a mediator between two antecedents (trust and innovativeness) and outcome (tourists’ adoption intention), which are considered as new additions to the co-creative service innovation literature.

Details

International Journal of Culture, Tourism and Hospitality Research, vol. 11 no. 3
Type: Research Article
ISSN: 1750-6182

Keywords

Book part
Publication date: 19 October 2020

Edoardo Rainone

This chapter is concerned with the estimation of spillover effects when outcomes arise as a consequence of bilateral interactions instead of from individual actions. In this type…

Abstract

This chapter is concerned with the estimation of spillover effects when outcomes arise as a consequence of bilateral interactions instead of from individual actions. In this type of environments, outcomes are generated on links instead of on nodes of a network, like bilateral prices in over-the-counter markets. The author proposes a link-based spatial autoregressive (SAR) model and discusses identification conditions and a two step least square estimation procedure. The author shows analytically that using a standard node-based SAR, which models nodes instead of links’ outcomes, produces misleading results when the data generating process is link-based. The methodology is illustrated using Monte Carlo experiments and real data from an interbank network.

Article
Publication date: 14 November 2019

Nofie Iman

How do financial innovations form and evolve in Islamic countries? How do nature and the organisation of innovation interact? Focussing on retail payment services, this paper aims…

Abstract

Purpose

How do financial innovations form and evolve in Islamic countries? How do nature and the organisation of innovation interact? Focussing on retail payment services, this paper aims to analyse recent developments and displays an overview of the status of financial innovation in Islamic countries.

Design/methodology/approach

This study uses six countries as case studies, namely, Egypt, Indonesia, Morocco, Pakistan, Turkey and the UAE. Comparison within and across those cases helps the author provide explanations of how and why such innovations have worked in particular contexts.

Findings

While cash remains dominant, the author found rapid growth in retail payments, but no consensus on standardisation. Several digital innovations have been introduced and begun to converge. Finally, there seems to be a disconnection between innovations and inclusions.

Originality/value

This research paper is, among the few, related to innovation in financial services in Islamic countries, and can be used to develop appropriate marketing strategies for capturing value in the market.

Details

Journal of Islamic Marketing, vol. 11 no. 6
Type: Research Article
ISSN: 1759-0833

Keywords

Book part
Publication date: 18 March 2014

John A. James and David F. Weiman

The increased use of checks in nonlocal payments at the end of the nineteenth century presented problems for their clearing and collection. Checks were required to be paid in full…

Abstract

The increased use of checks in nonlocal payments at the end of the nineteenth century presented problems for their clearing and collection. Checks were required to be paid in full (at par) only when presented directly to the drawn-upon bank at its counter. Consequently, many, primarily rural or small-town, banks began to charge remittance fees on checks not presented for collection in person. Such fees and the alleged circuitous routing of checks in the process of collection to avoid them were widely criticized defects of the pre-Federal Reserve payments system. As the new Federal Reserve established its own system for check clearing and collection, it also took as an implicit mandate the promotion of universal par clearing and collection. The result was a bitter struggle with non-par banks, the numbers of which initially shrunk dramatically but then rebounded. A 1923 Supreme Court decision ended the Fed’s active (or coercive) pursuit of universal par clearing, and non-par banking persisted thereafter for decades. Not until the Monetary Control Act of 1980 was universal par clearing and true monetary union, in which standard means of payment are accepted at par everywhere, achieved.

Book part
Publication date: 8 November 2019

Ludmila Stefanovich

This chapter is devoted to the issue of ensuring financial stability in the state. The main goal of the research is to determine the role and policy of the National (Central…

Abstract

This chapter is devoted to the issue of ensuring financial stability in the state. The main goal of the research is to determine the role and policy of the National (Central) Bank, which was called up, together with the Government, to ensure financial stability in the Republic of Belarus. The actions of the National Bank for the implementation of monetary policy, macroprudential regulation, and supervision are reviewed. It is noted that the regulation and supervision of banks, nonbank credit and financial organizations, the payment system, the sector of other financial intermediaries (leasing activities, microfinance activities, activities of forex companies) is carried out by the National Bank of the Republic of Belarus. The main practical actions of the Government and the National Bank aimed at maintaining and ensuring financial stability is highlighted: monitoring of financial stability (goals, tasks, objects, monitoring directions are defined); creation of the Financial Stability Board (goals, objectives, representation, personal responsibility); disclosure of information on financial stability is carried out on an ongoing basis – the publication of the analytical review “Financial Stability in the Republic of Belarus.” The research provided a summary of the state of the country's financial sector and presented the achievements of the National Bank and state institutions for ensuring financial stability. The main problems affecting financial stability are highlighted: insufficient efficiency of the activities of large enterprises of the real sector of the economy; high levels of credit risk in banks; high dollarization of bank balance sheets. The directions of development of the financial market of the Republic of Belarus, contributing to ensuring financial stability are presented.

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