From Maria Alejandra Madi Since the 2008 global financial crisis, the financial regulation scenario faces new drivers and challenges. Bank transactions by internet and mobile banking have sharply increased. In this digital environment, new technologies – such as advanced analytics, big data, in addition to the use of robotics, artificial intelligence, new forms of encryption and biometrics – have been enabling changes in the provision of financial products and services. The current wave of financial innovations is being increasingly oriented to more friendly digital channels through apps in the context of mobile banking strategies that privilege the development of open banking and further interactions with social media Indeed, the increasing digitalization of financial transactions is
Topics:
Maria Alejandra Madi considers the following as important: Uncategorized
This could be interesting, too:
Eric Kramer writes Patriotism and the Harris campaign
John Quiggin writes Getting old and being old
Lars Pålsson Syll writes The teaching of economics — captured by a small and dangerous sect
Angry Bear writes Open Thread: President Joe Biden Ends His Bid for Reelection
from Maria Alejandra Madi
Since the 2008 global financial crisis, the financial regulation scenario faces new drivers and challenges. Bank transactions by internet and mobile banking have sharply increased. In this digital environment, new technologies – such as advanced analytics, big data, in addition to the use of robotics, artificial intelligence, new forms of encryption and biometrics – have been enabling changes in the provision of financial products and services. The current wave of financial innovations is being increasingly oriented to more friendly digital channels through apps in the context of mobile banking strategies that privilege the development of open banking and further interactions with social media
Indeed, the increasing digitalization of financial transactions is also related to changes in the banks’ competitive environment, where the intense growth of the start-ups called fintechs, especially since 2010, has revealed a new articulation between finance and technology. Such fintechs are companies organized as digital platforms with business models focused on costumer relationship in the areas of payment systems, insurance, financial consultancy and management, besides virtual coins. Among other initiatives, we can highlight the crypto fintech products, such as a consumer app for the Bakkt, the Bitcoin futures contracts exchange run by the Intercontinental Exchange. read more