A Study: How AI is Incorporated in the Middle East Banking

The banking sector has undergone significant transformation due to the swift advancements in Artificial Intelligence (AI). The present study elucidates the benefits of aforementioned technology and their influence on both individuals and communities. The paper discusses a novel cohort of banking institutions that have reaped the rewards of advancements in AI-powered electronic gadgets and internet-based applications. For example, mobile devices are increasingly utilized to conduct transactions via economic institutions\u27 accounts.  author has discussed in the paper that advancements in AI have brought significant benefits to the banking sector. The adoption of AI-powered electronic gadgets and internet-based applications has revolutionized the way banking services are delivered, providing convenience, personalized experiences, and enhanced customer service. AI technologies have also contributed to fraud detection and prevention, improved operational efficiency, and facilitated financial inclusion. As the banking sector continues to evolve, the integration of AI is likely to play an increasingly vital role in shaping the future of banking services

Technology and Service Quality in the Banking Industry: An Empirical Study of Various Factors in Electronic Banking Services

Technology-based self service has greatly changed the way that service Firms and consumers interact and are raising a host of research and practice issues relating to the delivery of e-service which has become increasingly important not only in determining the success or failure of electronic commerce but also in providing consumers with a superior experience with respect to the interactive flow of information. The purpose of this research study was to establish the relationship between technology and service quality in the banking industry in Nigeria. The research was carried out through a cross sectional smvey design which questioned respondents one e-banking services. The population of study mainly constituted of customers of Oceanic bank within Lagos metropolis and its environs. The respondents of the study were customers of banks using e-banking services (internet banking, mobile banking and AIM). The sample in this study consisted of 120 respondents who are users of thee-banking services. The data collected was analyzed by use of frequency, percentage, means and correlation analysis. The findings revealed that secure services as the most important dimension, followed by convenient location of AIM, efficiency (not need to wait, ability to set up accounts so that the customer can perform transactions immediately, accurately of records, user friendly, ease of user, complaint satisfaction, accurate transactions and operation in 24 h)

Factors Influencing the Adoption of Internet Banking

A research framework based on the theory of planned behavior (Ajzen 1985) and the diffusion of innovations theory (Rogers 1983) was used to identify the attitudinal, social and perceived behavioral control factors that would influence the adoption of Internet banking. An online questionnaire was designed on the World Wide Web (WWW). Respondents participated through extensive personalized e-mail invitations as well as postings to newsgroups and hyperlinks from selected Web sites. The results revealed that attitudinal and perceived behavioral control factors, rather than social influence, play a significant role in influencing the intention to adopt Internet banking. In particular, perceptions of relative advantage, compatibility, trialability, and risk toward using the Internet were found to influence intentions to adopt Internet banking services. In addition, confidence in using such services as well as perception of government support for electronic commerce were also found to influence intentions. The implications of the study are discussed and suggestions for future research presented

Mergers and the changing landscape of commercial banking (Part II)

Bank mergers ; Financial institutions

Deregulation, the Internet, and the competitive viability of large banks and community banks

Deregulation, technological change, and increased competitive rivalry are transforming U.S. commercial banking from an industry dominated by thousands of small, locally focused banks into an industry where a handful of large banks could potentially span the nation and control the majority of its bank deposits. This paper examines the comparative strengths and weaknesses of large and small banks in this new environment, and outlines the strategic opportunities and threats that new technology - especially the Internet - pose for U.S. banks. We begin by documenting recent trends in bank size, industry structure, competitive conditions, and bank product mix. We argue that these trends are consistent with a simple competitive strategy framework in which commercial banks choose between two profitable business strategies: (a) a community bank business model in which banks have a local focus, a high cost structure, and sell low volumes of personalized service at high margins, and (b) a global bank business model in which banks have a national or international focus, a low cost structure, and sell high volumes of standardized financial products at low margins. Finally, we discuss how Internet banking is likely to affect this strategic equilibrium. In particular, we analyze how a shift away from brick and mortar branches and toward the Internet delivery channel will reduce the switching costs that currently dissuade retail deposit customers from changing banks. Based on the foregoing analysis, we conclude that the number of small banks will continue to decline in the future - not because the community bank business model is flawed, but because most of the small banks that use this model are poorly run. In the long-run, our analysis suggests that well-run community banks should be able to adapt their business practices to technological change and profitably co-exist with large, globally focussed banks.Banks and banking ; Financial institutions

Online banking customization via tag-based interaction

In this paper, we describe ongoing work on online banking customization with a particular focus on interaction. The scope of the study is confined to the Australian banking context where the lack of customization is evident. This paper puts forward the notion of using tags to facilitate personalized interactions in online banking. We argue that tags can afford simple and intuitive interactions unique to every individual in both online and mobile environments. Firstly, through a review of related literature, we frame our work in the customization domain. Secondly, we define a range of taggable resources in online banking. Thirdly, we describe our preliminary prototype implementation with respect to interaction customization types. Lastly, we conclude with a discussion on future work

Banking products and services market: the globalization challenges

The extremely volatile economic environment, in which the world banking systems must operate that is determined by the unprecedented intensification of the globalization phenomenon, urgently imposed the reconsideration of the institutions’ business strategies. Besides the development of the newly founded banks, which determines the increase of the competition, it is also required the improvement of the quality of the banking activities, by means of the increase of the competitiveness as well as the promotion of new banking products and services, at European standards and the diversification of their distribution channels that should satisfy the clients’ expectations. It implies that the banks must commit themselves to continuous financial efforts in order to cope with the evolution of the technology and informatics.globalization, banking system, competitiveness, banking product, distribution channel