ROLE AND IMPORTANCE OF DIGITALIZATION IN BANKS: AN INDIAN PRESPECTIVE

Authors

  • SRIJAN PAUL

Abstract

Financial institutions are seeking to increase their knowledge in relation to technological innovation, both through partnerships with tech companies and by investing in or acquiring such companies. Despite this, there are wide differences in the preparedness of market participants for these changes in practice. While such innovation facilitates the entrance of new users to the financial system, it may also move the provision of some payment services to non-banking companies that are not regulated as financial entities.

There are a number of web-based and mobile-based payment applications that primarily focus on the customer experience and often aim to better integrate payment transactions within the commerce value chain. These service providers usually do not offer banking services other than payments, and they normally do not apply for banking licenses. The modern world in which we are living is dominated by the concept called “Digitalization”.

Published

2022-10-10

How to Cite

SRIJAN PAUL. (2022). ROLE AND IMPORTANCE OF DIGITALIZATION IN BANKS: AN INDIAN PRESPECTIVE. International Journal of Economic Perspectives, 16(10), 17–24. Retrieved from http://ijeponline.org/index.php/journal/article/view/399

Issue

Vol. 16 No. 10 (2022)

Section

Peer Review Articles
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