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Role Of Electronic Banking In Financial Inclusion
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Book Synopsis Role of Electronic Banking in Financial Inclusion by : Sujoy Dhar
Download or read book Role of Electronic Banking in Financial Inclusion written by Sujoy Dhar and published by . This book was released on 2015 with total page 17 pages. Available in PDF, EPUB and Kindle. Book excerpt: Financial inclusion focuses on the poor who do not enjoy the formal financial institutional support. The branchless banking is an innovative concept where account can be opened and operated without going to bank branch. The profiles of Business Facilitator and Business Correspondent have been created so that they can work as the agent of the banks who are directly dealing with poor villagers. In the era of information technology, a person is called poor not because he has no money but for the fact that he does not have adequate information about what is happening in his surroundings. Electronic banking has made a major breakthrough in the sphere of banking and finance. After the successful implementation of core banking solution and net banking, it has been experienced that banks are recruiting engineers in bulk as the executives of the banks have to be tech-savvy in order to do justice to their assigned responsibilities. After 67 years of independence, telecommunication sector is the one which has successfully penetrated to Indian household. Therefore mobile banking has added a new dimension in electronic banking. The objective of the proposed research paper is to explain the scope and challenges of electronic banking, to analyze the mechanism through which online banking can facilitate the financial inclusion in India and to identify the strategies how the electronic banking system can be used more customized and user friendly way to ensure maximum justice to all stakeholders of the nation. The methodology of the proposed work consist survey of existing literatures from different scholarly research articles available in several reputed national and international journals and analysis of secondary data collected from the RBI database and the different published reports. The proposed intellectual output will give a direction how maximum benefit can be provided to the maximum number of financially excluded persons so that fruits of growth can be distributed in an equitable way.
Book Synopsis The Global Findex Database 2017 by : Asli Demirguc-Kunt
Download or read book The Global Findex Database 2017 written by Asli Demirguc-Kunt and published by World Bank Publications. This book was released on 2018-04-19 with total page 228 pages. Available in PDF, EPUB and Kindle. Book excerpt: In 2011 the World Bank—with funding from the Bill and Melinda Gates Foundation—launched the Global Findex database, the world's most comprehensive data set on how adults save, borrow, make payments, and manage risk. Drawing on survey data collected in collaboration with Gallup, Inc., the Global Findex database covers more than 140 economies around the world. The initial survey round was followed by a second one in 2014 and by a third in 2017. Compiled using nationally representative surveys of more than 150,000 adults age 15 and above in over 140 economies, The Global Findex Database 2017: Measuring Financial Inclusion and the Fintech Revolution includes updated indicators on access to and use of formal and informal financial services. It has additional data on the use of financial technology (or fintech), including the use of mobile phones and the Internet to conduct financial transactions. The data reveal opportunities to expand access to financial services among people who do not have an account—the unbanked—as well as to promote greater use of digital financial services among those who do have an account. The Global Findex database has become a mainstay of global efforts to promote financial inclusion. In addition to being widely cited by scholars and development practitioners, Global Findex data are used to track progress toward the World Bank goal of Universal Financial Access by 2020 and the United Nations Sustainable Development Goals. The database, the full text of the report, and the underlying country-level data for all figures—along with the questionnaire, the survey methodology, and other relevant materials—are available at www.worldbank.org/globalfindex.
Book Synopsis Financial Inclusion, Technology and Virtual Banking by : Sau Wai Law
Download or read book Financial Inclusion, Technology and Virtual Banking written by Sau Wai Law and published by Springer Nature. This book was released on with total page 134 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis The Promise of Fintech by : Ms.Ratna Sahay
Download or read book The Promise of Fintech written by Ms.Ratna Sahay and published by International Monetary Fund. This book was released on 2020-07-01 with total page 83 pages. Available in PDF, EPUB and Kindle. Book excerpt: Technology is changing the landscape of the financial sector, increasing access to financial services in profound ways. These changes have been in motion for several years, affecting nearly all countries in the world. During the COVID-19 pandemic, technology has created new opportunities for digital financial services to accelerate and enhance financial inclusion, amid social distancing and containment measures. At the same time, the risks emerging prior to COVID-19, as digital financial services developed, are becoming even more relevant.
Book Synopsis Handbook of Blockchain, Digital Finance, and Inclusion, Volume 1 by : David Lee Kuo Chuen
Download or read book Handbook of Blockchain, Digital Finance, and Inclusion, Volume 1 written by David Lee Kuo Chuen and published by Academic Press. This book was released on 2017-08-03 with total page 484 pages. Available in PDF, EPUB and Kindle. Book excerpt: Handbook of Blockchain, Digital Finance, and Inclusion, Volume 1: Cryptocurrency, FinTech, InsurTech, and Regulation explores recent advances in digital banking and cryptocurrency, emphasizing mobile technology and evolving uses of cryptocurrencies as financial assets. Contributors go beyond summaries of standard models to describe new banking business models that will be sustainable and will likely dictate the future of finance. The volume not only emphasizes the financial opportunities made possible by digital banking, such as financial inclusion and impact investing, but it also looks at engineering theories and developments that encourage innovation. Its ability to illuminate present potential and future possibilities make it a unique contribution to the literature. Explores recent advances in digital banking and cryptocurrency, emphasizing mobile technology and evolving uses of cryptocurrencies as financial assets Explains the practical consequences of both technologies and economics to readers who want to learn about subjects related to their specialties Encompasses alternative finance, financial inclusion, impact investing, decentralized consensus ledger and applied cryptography Provides the only advanced methodical summary of these subjects available today
Book Synopsis Central Bank Digital Currency's Role in Promoting Financial Inclusion by : Ashley Lannquist
Download or read book Central Bank Digital Currency's Role in Promoting Financial Inclusion written by Ashley Lannquist and published by International Monetary Fund. This book was released on 2023-09-22 with total page 37 pages. Available in PDF, EPUB and Kindle. Book excerpt: Financial inclusion is a key policy objective that central banks, especially those in emerging and low-income countries, are considering for retail central bank digital currency (CBDC). If properly designed to address the barriers to financial inclusion, CBDCs have the opportunity to gain acceptance by the financially excluded for digital payments. CBDC can then serve as an entry point to the broader formal financial system. CBDC has special aspects that may benefit financial inclusion, such as being a risk-free and widely acceptable form of digital money, availability for offline payments, and potentially lower costs and greater accessibility. However, CBDC is not a panacea to financial inclusion, and additional experience is needed to fully understand its potential impact.
Book Synopsis Financial Inclusion and the Role of Banking System by : Sudarshan Maity
Download or read book Financial Inclusion and the Role of Banking System written by Sudarshan Maity and published by Springer Nature. This book was released on 2022-04-22 with total page 238 pages. Available in PDF, EPUB and Kindle. Book excerpt: The book portrays the scope and dimension of different financial inclusion strategies. It looks at the role and potential of banks involved in financial inclusion. This book focuses on the importance of financial inclusion and in measuring its important determinants. It provides an empirical insight into how the different factors influence financial inclusion of a nation, providing a guideline to the banks and the regulators to select an effective structure of bank branch and efficient composition, to ensure best utilization of their devoted resources in the context of a developing economy.
Author :Indian Institute of Banking & Finance Publisher :Taxmann Publications Private Limited ISBN 13 :9357785957 Total Pages :21 pages Book Rating :4.3/5 (577 download)
Book Synopsis IIBF X Taxmann's Digital Banking – Seminal guide to familiarise the readers with digital banking advancements and provides practical knowledge for adapting to digital changes in banking by : Indian Institute of Banking & Finance
Download or read book IIBF X Taxmann's Digital Banking – Seminal guide to familiarise the readers with digital banking advancements and provides practical knowledge for adapting to digital changes in banking written by Indian Institute of Banking & Finance and published by Taxmann Publications Private Limited. This book was released on 2024-01-13 with total page 21 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book provides a seminal guide that charts the transformative journey of the banking sector in the digital age. It discusses the rise of digital banking, innovative financial products like UPI BHIM, and the role of Fintechs and NBFCs in enhancing financial inclusion and accessibility. The book provides in-depth insights into new banking trends like Blockchain and AI and offers practical knowledge for banking professionals to adapt to this evolving digital landscape. It serves as an essential resource, covering the following broad topics: • Digital Banking Products • Digital Banking & Financial Inclusion (FI) • Marketing of Digital Banking Products • Payment Systems • Future Trends in Digital Banking An invaluable resource for students, professionals, and anyone keen on understanding the digital banking revolution. The Present Publication is the 2024 Edition, updated by Mr Burra Butchi Babu | Former General Manager – Bank of India and vetted by Mr V.A. Prasanth | Former General Manager & Chief Information Officer – Indian Bank. Taxmann exclusively publishes this book for the Indian Institute of Banking and Finance with the following coverage: • Module A – Digital Banking Products o Digital Delivery Channels § Introduction and need for digital channels in banking § Analyzing the cost of transactions and customer preferences § The role of technology in enhancing user-friendliness and customer interaction § Emphasizing security as a crucial aspect of digital banking, including information security § Overview of the Integrated Ombudsman Scheme, 2021 by RBI § Discussion on customer protection and limiting liability in unauthorized transactions § RBI's directions on digital payment security controls § Challenges faced in digital banking and the concept of e-KYC o Cards § History and overview of plastic payment cards § Features and benefits of cards for customers § Understanding the Payment Card Industry-Data Security Standard § Comparison between Magnetic Strip Cards and EMV Cards, including NFC-based Tap & Go technology § The approval process for card schemes and profitability aspects § Insight into backend operations, recovery, follow-up, and information security issues o Automated Teller Machines (ATMs) § History and product features of ATMs § Types of ATMs, including White Label and Brown Label § The functioning of ATM networks and Instant Money Transfer (IMT) systems § Discussing profitability, risk management, and frauds in ATM operations § Backend operations and technology in ATMs § Overview of the Dispute Management System (DMS) o Mobile Banking § Introduction and diverse features of mobile banking § Description of IMPS and its benefits § Discussion on risk management, frauds, backend operations, and information security tips in mobile banking o Internet or Online Banking § History, working, and features of Internet banking § Analysis of the profitability and risks associated with Internet banking o POS Terminals § Background and features of Point of Sale (POS) systems § Benefits of POS systems to merchants and customers § Different types of transactions and the cash withdrawal process at POS § Merchant onboarding, approval process, and the parties involved in a POS setup § Profitability analysis and risk management in POS operations • Module B – Digital Banking & Financial Inclusion (FI) o Introduction to financial inclusion and its strategies o Approaches to accelerate financial inclusion and the role of technologies o Digital banking services in financial inclusion and factors beyond technology o Information security issues in financial inclusion and new developments o Understanding how banks earn money using digital delivery channels • Module C – Marketing of Digital Banking Products o Concept and channels for marketing digital banking products o Product planning and marketing structure in banks o Sales delivery, e-galleries, and after-sales service to customers o Marketing strategies for financial inclusion and the dangers of mis-selling o Use of analytics in marketing and customer education and protection • Module D – Payment Systems o Overview of global and domestic payment systems o Introduction to new domestic payment vehicles and platforms o Detailed analysis of various systems like Cheque Truncation System (CTS), RTGS, NEFT, NETC, Bharat QR, UPI QR, BBPS, and SWIFT o Forex and securities settlements o Innovative banking and payment systems, including digital banking super apps • Module E – Future Trends in Digital Banking o Background and future trends in digital banking o The impact of fintech, business ecosystem, and blockchain technology o Discussion on cryptocurrencies, peer financing, cloud computing, and virtualization o Data analytics, artificial intelligence (AI), machine learning (ML), deep learning (DL), robotic process automation (RPA), and the Internet of Things (IoT) o Central Bank Digital Currency (CBDC) and digital transformation of banks in India
Book Synopsis Making Finance Work for Africa by : Patrick Honohan
Download or read book Making Finance Work for Africa written by Patrick Honohan and published by World Bank Publications. This book was released on 2007 with total page 264 pages. Available in PDF, EPUB and Kindle. Book excerpt: Drawing on its extensive experience in helping restructure and reform financial systems, the World Bank examines the state of African domestic financial systems in a global comparison. It identifies promising trends as well as pinpointing the major shortcomings that are observed across sub-Saharan Africa. Policy recommendations distinguish between those designed to make finance a more effective driver of economic growth and those designed to give low income, small-scale and other excluded groups better access to financial services.
Book Synopsis E-Banking and Emerging Multidisciplinary Processes: Social, Economical and Organizational Models by : Sarlak, Mohammad Ali
Download or read book E-Banking and Emerging Multidisciplinary Processes: Social, Economical and Organizational Models written by Sarlak, Mohammad Ali and published by IGI Global. This book was released on 2010-08-31 with total page 227 pages. Available in PDF, EPUB and Kindle. Book excerpt: E-Banking and Emerging Multidisciplinary Processes: Social, Economical and Organizational Models advances the knowledge and practice of all facets of electronic banking. This cutting edge publication emphasizes emerging e-banking theories, technologies, strategies, and challenges to stimulate and disseminate information to research, business, and banking communities. It develops a comprehensive framework for e-banking through a multidisciplinary approach, while taking into account the implications it has on traditional banks, businesses, and economies.
Book Synopsis Finance With A Purpose: Fintech, Development And Financial Inclusion In The Global Economy by : Frederic De Mariz
Download or read book Finance With A Purpose: Fintech, Development And Financial Inclusion In The Global Economy written by Frederic De Mariz and published by World Scientific. This book was released on 2022-05-30 with total page 220 pages. Available in PDF, EPUB and Kindle. Book excerpt: From vehicles to music, power generation to retail, every aspect of our daily routine has experienced drastic changes in the recent past, driven by secular forces such as digitization, a growing focus on sustainability, regulatory changes and evolving consumer behavior. Financial services are no exception. A paradigm change is at play in the financial sector, with a surge in competition from non-traditional actors, a revolution in customer experience evidenced by rising transparency and customer-centric strategies. FinTech is disrupting financial services, providing a historic opportunity for formally underserved customers, a formidable threat to existing banks and a critical challenge to regulators. Through the lens of FinTech (financial technology) — including payments, lending platforms, insurtech, superapps and market infrastructure — the author highlights the practical policy opportunities and risks of financial inclusion with a wealth of data.This book tells the story of entrepreneurs, companies, investors, researchers and regulators who are building the financial services of tomorrow and the mechanisms that will allow us as a society to fulfill the promise of inclusion. There are still challenges to overcome, particularly high levels of informality, subpar quality in financial services, and low levels of financial education. Regulators play a crucial role to foster inclusion, proposing sandboxes and stepping up their efforts against risks triggered by technology such as monopolistic behavior, consumer protection and cybercrime.Finance with a Purpose combines the theory in the fields of economics, finance and law with the practice of financial institutions, corporates, households and investors. By combining the latest academic research with ample professional experience in emerging markets, this book is essential for policymakers, scholars, and any reader who wants to understand the recent progress in financial inclusion and how it can be used to alleviate inequality and foster economic development.
Book Synopsis Marketing and Mobile Financial Services by : Aijaz A. Shaikh
Download or read book Marketing and Mobile Financial Services written by Aijaz A. Shaikh and published by Routledge. This book was released on 2018-12-21 with total page 286 pages. Available in PDF, EPUB and Kindle. Book excerpt: Mobile financial services (MFS) are of major interest and importance to both researchers and practitioners. The role played by nonbanking actors including telecoms and FinTech firms as well as other participants, such as PayPal and Amazon, in developing and deploying innovative financial and payment services is undeniable. Peer2peer (P2P) payments from nonbank services are becoming increasingly commonplace and will shortly be codified by EC (EU?) regulations requiring banks to provide access to consumer data for third-party app developers and service providers. Three major mobile financial systems—mobile banking, mobile payments, and branchless banking—currently dominate the electronic retail banking sector. Although interconnected and interrelated, their business models, regulatory frameworks, and target markets are distinct. This book provides a unified perspective on MFS and discusses its evolution, growth, and future, as well as identifying the frameworks, stakeholders, and technologies used in financial information systems in general and MFS in particular. Academics and researchers in digital and financial marketing will find this book an invaluable resource, as will bank executives, regulators, policy makers, FinTech professionals, and anyone interested in how mobile technology, social media and financial services will increasingly intersect.
Book Synopsis Fintech by : International Monetary Fund
Download or read book Fintech written by International Monetary Fund and published by International Monetary Fund. This book was released on 2019-06-27 with total page 73 pages. Available in PDF, EPUB and Kindle. Book excerpt: The paper finds that while there are important regional and national differences, countries are broadly embracing the opportunities of fintech to boost economic growth and inclusion, while balancing risks to stability and integrity.
Book Synopsis Savings for the Poor by : Michael A. Stegman
Download or read book Savings for the Poor written by Michael A. Stegman and published by Brookings Institution Press. This book was released on 2010-12-01 with total page 236 pages. Available in PDF, EPUB and Kindle. Book excerpt: Beginning this year, federal payment recipients will receive their government benefits through electronic funds transfer (EFT)-- what most of us call direct deposit. Although cost-cutting is the driving force behind the move to a virtually all-electronic federal payment system, Michael Stegman believes the initiative has a far broader potential: to bring poor Americans into the banking mainstream. In this book Stegman outlines how many families will enter the mainstream banking system through EFT '99, as the program is called. He explains in careful detail the thinking behind the shift to EFT and the implementation of the program this year. He also argues that, for maximum success, EFT '99 should be combined with a program of national Individual Development Accounts (IDAs), dedicated savings accounts for low-income people that can be used for purchasing a first home, acquiring more education or job training, or starting a small-business. Essentially, EFT '99 will bring people into the banking system, and IDAs will give them an incentive to use the system to its fullest in order to make their money work for them and their children. There are other steps that the government can take to boost EFT's ability to help public aid recipients achieve self-sufficiency. It can: add a direct deposit option to state benefits payments programs; give banks significant additional Community Reinvestment Act Credit for establishing accounts for EFT recipients; and regulate fees for cashing government benefits and voluntary accounts so that people are not charged excessively for accessing their money. This book demonstrates that — with careful planning and a relatively small investment — the government's EFT initiative can have a major payoff in real assets and improved prospects for those who have been, for far too long, on the fringes of the country's mainstream banking system. Brookings Metro Series
Book Synopsis Bringing E-money to the Poor by : Thyra A. Riley
Download or read book Bringing E-money to the Poor written by Thyra A. Riley and published by World Bank Publications. This book was released on 2017-09-11 with total page 282 pages. Available in PDF, EPUB and Kindle. Book excerpt: Moving toward universal access to financial services is within reach, thanks to new technologies, transformative business models, and ambitious reforms. Instruments such as e-money accounts and mobile accounts, along with debit cards and low-cost traditional bank accounts, can significantly increase financial access for those who are excluded. Bringing e-Money to the Poor: Successes and Failures examines the lessons of success from four country case studies of “gazelles†?†•Kenya, South Africa, Sri Lanka, and Thailand†•that leapt from limitation to innovation by successfully enabling the deployment of e-money technology. These countries have thereby transformed the landscape of financial access to their poor. In addition, two country case studies (Maldives and the Philippines) yield lessons learned from constraints that stalled e-money deployments. Because technology is not a silver bullet, the case studies also explore other strategic elements that need to be in place for a country to expand access to financial services through digital technology.
Book Synopsis Issues in Electronic Banking by : Ms.Andrea Schaechter
Download or read book Issues in Electronic Banking written by Ms.Andrea Schaechter and published by International Monetary Fund. This book was released on 2002-03-01 with total page 27 pages. Available in PDF, EPUB and Kindle. Book excerpt: Using electronic delivery channels for banking services and products has become increasingly popular in recent years. Electronic banking makes it possible to offer banking services around the world 24 hours a day. The dependence on technology for providing the services with the necessary security, and the cross-border nature of transactions, involve additional risks for banks and new challenges for banking regulators and supervisors. This paper provides an overview of some of the issues resulting from the development of electronic banking and how they are currently being addressed by regulatory and supervisory authorities.
Book Synopsis Is Digital Financial Inclusion Unlocking Growth? by : Purva Khera
Download or read book Is Digital Financial Inclusion Unlocking Growth? written by Purva Khera and published by International Monetary Fund. This book was released on 2021-06-11 with total page 30 pages. Available in PDF, EPUB and Kindle. Book excerpt: Digital financial services have been a key driver of financial inclusion in recent years. While there is evidence that financial inclusion through traditional services has a positive impact on economic growth, do the same results carry over for digital financial inclusion? What drives digital financial inclusion? Why does it advance more in some countries but not in others? Using new indices of financial inclusion developed in Khera et. al. (2021), this paper addresses these questions for 52 developing countries. Using cross-sectional instrument variable procedure, we find that the exogenous component of digital financial inclusion is positively associated with growth in GDP per capita during 2011-2018, which suggests that digital financial inclusion can accelerate economic growth. Fractional logit and random effects empirical estimation identifies access to infrastructure, financial and digital literacy, and quality of institutions as key drivers of digital financial inclusion. These findings are then used to help inform policy recommendations in areas related to the digitization of financial services to promote financial inclusion.
