التفاصيل البيبلوغرافية
| العنوان: |
Finance 4.0: The Transformation of Financial Services in the Digital Age |
| المؤلفون: |
Dr.A.Shaji George |
| المصدر: |
Partners Universal Innovative Research Publication (PUIRP), 02(03), 104-125, (2024-06-25) |
| بيانات النشر: |
PU Publications |
| سنة النشر: |
2024 |
| المجموعة: |
Zenodo |
| مصطلحات موضوعية: |
Finance 4.0, Disruptive Innovation, Exponential Technologies, Artificial Intelligence, Blockchain, Big Data Analytics, Open Banking, Algorithmic Trading, Regulatory Governance, Financial Inclusion |
| الوصف: |
Finance 4.0 represents a new era of financial services enabled by advanced digital technologies like artificial intelligence, blockchain, big data analytics and cloud computing. This transformation builds on previous waves of financial innovation such as online banking and high frequency trading but takes it to a new level in terms of automation, security, transparency and hyper-personalization of services. The impetus for Finance 4.0 emerged in response to the 2008 financial crisis, which brought to light vulnerabilities in conventional financial systems and prompted a search for enhanced transparency and resilience. Rapid advances in data-driven and exponential technologies over the last decade, nevertheless, have facilitated the current rate of change. Core innovations driving the Finance 4.0 revolution include distributed ledger technology, smart contracts based on blockchains, machine learning and predictive data analytics. These technologies allow financial institutions to reduce operational frictions and costs, improve risk profiling, detect fraud faster and comply more easily with regulations. For customers, it translates to more user-friendly applications, 24/7 availability of hyper-personalized products and investment advisory. Massive improvements in data storage and computing power have enabled finance companies to harness big data to derive real-time insights and design bespoke solutions. Application programming interfaces (APIs) facilitate open banking platforms and frictionless integration with third-party apps. The Internet of Things (IoT) allows users to make transactions seamlessly using devices and wearables. Incumbent institutions that embrace digital transformation stand to benefit greatly in terms of reduced costs, new revenue streams and escaping the threat of disruption. Industry borders are blurring, as non-bank digital entrants gain an advantage through rapid operations. Banks must adopt the "act like a fintech" strategy to remain relevant. Regulators face difficult challenges related ... |
| نوع الوثيقة: |
article in journal/newspaper |
| اللغة: |
unknown |
| Relation: |
https://doi.org/10.5281/zenodo.11666693; https://doi.org/10.5281/zenodo.11666694; oai:zenodo.org:11666694 |
| DOI: |
10.5281/zenodo.11666694 |
| الاتاحة: |
https://doi.org/10.5281/zenodo.11666694 |
| Rights: |
info:eu-repo/semantics/openAccess ; Creative Commons Attribution 4.0 International ; https://creativecommons.org/licenses/by/4.0/legalcode |
| رقم الانضمام: |
edsbas.5DFBCE63 |
| قاعدة البيانات: |
BASE |