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Issues and Challenges of Digital Banking System

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Proceedings of Second International Conference on Intelligent System (ICIS 2023)

Part of the book series: Algorithms for Intelligent Systems ((AIS))

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Abstract

The evolution of digital banking, significantly propelled by recent technological advancements and the COVID-19 pandemic, marks a transformative era in the financial sector. This paper delves into the ways digital innovations such as AI, big data, and cloud computing are revolutionizing banking by enhancing efficiency, security, and accessibility, thereby fostering financial inclusion and economic reform. It navigates through various challenges including security risks, service availability, customer support, and regulatory compliance, while also examining the integration and impact of emerging technologies. A comparative analysis of the adoption and challenges of digital banking in both developed and developing economies is presented, with a focus on the effectiveness of multiple criteria decision-making (MCDM) techniques in refining banking services. The findings offer crucial insights for banking sector managers and policymakers, highlighting the importance of adaptive strategies for the secure and inclusive growth of digital banking in a constantly evolving global landscape.

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Authors and Affiliations

  1. KIIT Deemed to be University, Bhubaneswar, India

    Sarita Kumari Singh, Prasant Kumar Pattnaik & Sasmita Samanta

Authors
  1. Sarita Kumari Singh
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  2. Prasant Kumar Pattnaik
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  3. Sasmita Samanta
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Corresponding author

Correspondence to Sarita Kumari Singh .

Editor information

Editors and Affiliations

  1. Faculdade de Engenharia da Universidade do Porto (FEUP), Porto, Portugal

    João Manuel R. S. Tavares

  2. Department of Computer Science and Engineering, Sister Nivedita University (Techno India Group), Kolkata, India

    Souvik Pal

  3. Department of Digital Systems, University of Thessaly, Larissa, Greece

    Vassilis C. Gerogiannis

  4. Data Science Laboratory, Faculty of Information Technology, Industrial University of Ho Chi Minh City, Ho Chi Minh City, Vietnam

    Bui Thanh Hung

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Singh, S.K., Pattnaik, P.K., Samanta, S. (2024). Issues and Challenges of Digital Banking System. In: Tavares, J.M.R.S., Pal, S., Gerogiannis, V.C., Hung, B.T. (eds) Proceedings of Second International Conference on Intelligent System. ICIS 2023. Algorithms for Intelligent Systems. Springer, Singapore. https://doi.org/10.1007/978-981-99-8976-8_7

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