Academic literature on the topic 'Digital banking adoption'

Cash and Dash looks at the origins and development of the automated teller machine (ATM) as means to provide the unifying thread to explain changes in retail banking brought about by and around the introduction of computer technology. Main themes include an explanation of why technological change is slow in retail financial markets, and how different groups of people and organizations interact to shape a particular technology. Documentary evidence helps to clarify the myth of the single inventor and details the monumental task to deliver digital banking for retail consumers. Of particular importance for banks around the world throughout this task, was the need to balance new and unintended uses of a device by consumers as opposed to solving impending technical issues and gaining consumers’ trust, acceptance, and high usage. Research illuminates the progress of an industry-specific innovation becoming a novelty and how new payment devices embed in everyday life. The story in Cash and Dash also illustrates that serious ethical and political issues can emerge while adopting, making operational, and maintaining a particular technology within and around retail financial institutions. This approach contrasts with others that perceive technological change as external, neutral, and devoid of context and social setting. The book aims to keep the focus of the narrative off obsolescence and on maintenance and reinvention, while also allowing space to provide conceptual underpinnings and celebrating industry milestones. In short, Cash and Dash recounts a story of decisions about capital investments, business strategies, and technological evolution, and how these were followed by decisions dealing with legacy systems, personnel, standards, locations, and whether machines could become a source of competitive advantage in retail banking.

Purpose: Payment system technology innovation is the financial system's backbone. The current research examines contemporary trends and issues in digital banking systems. The paper seeks to provide a comprehensive assessment of current digital payment technology and issues. Design/Methodology:The authors conducted a thorough literature analysis and mapped 33 papers retrieved from Google Scholar databases. The current study also helps to document research themes and thematic maps that examine the relationship between e-wallets and digital banking served as the foundation for this study. Findings: This study classifies digital payment technology trends by conducting a comprehensive review of available research. Furthermore, the paper presents key findings in digital payment technologies into broad themes: Digital Banking Trends and Challenges, EWallet Adoption and Consumer Behavior, Impact of Digital Banking on Business and Economy, Technological Innovations in Digital Payments, Systematic Reviews and Bibliometric Analyses on Digital Payments, and Security and Risks in Digital Transactions. Originality:The study is unusual since it examines current trends and difficulties in the digital world of banking. The research maps and discover the various challenges.

The rapid changes in technology parallel the differences in the everyday life of human beings. Technology has significantly eased daily activities across various sectors, including education, communication, business, and the job industry. The research investigates the implementation of the Robotic Process Automation (RPA) in the banking sector in Sri Lanka. The study mainly focuses on the challenges and implementation of effective managerial practices, conducive banking processes and factors related to decision-making. The study took a quantitative approach, selecting 80 bank employees through stratified sampling to assure representation across bank departments, and distributing the survey questionnaire in person to obtain employee impressions of RPA deployment. A questionnaire for the employees is incorporated into the study as the primary research tool and the gathered information is statistically analyzed using SMART PLS. The research findings provide a critical importance of factors influencing the adoption of RPA technology within the Sri Lankan banking sector. Particularly, the study emphasizes the significance of Perceived Ease of Use and Management Support, while acknowledging both their strengths and weaknesses. Keywords: Banking sector, Operational efficiency, Operational efficiency, Robotic Process Automation, RPA In Banking, Technology Adoption, Use of RPA

In a time of digital disruption, users are deciding how they want banks to respond and even exceed their expectations. Banks rushed to face-lift their front-end look and enable non-essential digital services without acknowledging users’ needs. This recent attitude has harmed a good digital banking experience, and consequently the adoption of e-banking. To have a clear vision of how banks can stand out in a digital transformation 634 e-banking users were interviewed from the generations’ X, Y, and Z. A qualitative analysis was conducted using Leximancer software, to determine similarities and differences in three generations’ attitudes toward digital banking. The findings highlighted nineteen concepts grouped into eight key themes, namely: transfers, availability, use, speed, information, price, complex(ity), and market. Digital bank users are concerned about price, speed of transfers, and product information, valuing the easy availability of services and operations in the financial market, with some constraints about the complexity of options used to manage their accounts and savings. While Gen X (older age) looks at digital banking mainly for the availability of services, Gen Y (middle age) takes more advantage of digital banking to explore the bank/financial market and perform operations anywhere, and Gen Z (younger age) simply for transfers. This study contributes to understanding the adoption of digital banking, allowing to propose a new conceptual map to explain e-banking usage and identifying what is more important for each Gen X, Y, and Z generation may adopt digital banking.

Purpose: This study explores the adoption of green retail banking practices, focusing on sustainable branch operations and consumer-oriented digital solutions, aiming to assess their environmental and operational benefits. Design/Methodology/Approach: The research uses a qualitative approach, reviewing literature and case studies of green banking initiatives, including paperless transactions, mobile banking, and energy-efficient systems, to analyse their environmental and financial impacts. Findings: Sustainable practices like paperless withdrawals, mobile apps for account opening, and energy-efficient technologies reduce costs and environmental impact. Promoting digital banking services also lowers the carbon footprint while enhancing customer convenience and satisfaction.Originality/Value: This study provides valuable insights into sustainable banking practices and their effects on efficiency and customer loyalty, offering actionable recommendations for banks to enhance their green initiatives.

Financial technology (Fintech) denotes the cutting-edge technologies transforming traditional financial services. Fintech involves the automation of financial service delivery, empowering financial service providers, businesses, and consumers to streamline their financial operations through specialized software on computers, smartphones, and various devices. Its scope has expanded beyond traditional financial services to encompass consumer-oriented sectors like education, retail banking, fundraising, digital currencies, and investment management. As with other nations, Egypt must embrace financial technology to extend these services to its populace.

We investigate how the presence of physical bank branches moderates financial technology diffusion. Our identification strategy uses services suspensions caused by criminal groups that perform hit-and-run raids exploding branch facilities and rendering them inoperable for months. We show that the shock depletes the cash inventory of branches, but the stock of credit and deposits remain unaffected. We then document that customers increase their usage of noncash payments after the events. We investigate a new instant payment technology called Pix that was a remarkable success in terms of adoption. After robbery events, the number and value of Pix intra-municipality transactions increase, as well as the number of users. We also find Pix usage spillover effects that go beyond cash substitution. First, the number of Pix transactions and users also increases when either the payer or the payee is in an unaffected municipality. Second, we show that there are local spillovers to digital institutions, indicating that cash dependence can be an impediment to their expansion. Our results shed light on the determinants of technology adoption and the consequences of the recent transition in the banking industry from a physical branch-based model to an increasing reliance on digital services.

Explore how low-cost ICT tools—like mobile banking, websites, and e-payments—boost SME productivity in nine APO economies. Using firm-level data from nine economies, the report demonstrates how digital adoption enables small firms to overcome barriers to growth. It also offers actionable policy insights to bridge the digital divide and promote inclusive economic development.

The scalability of RPA allows companies to adjust their robotic workforce according to fluctuating demands, improving not only operational efficiency but also employee satisfaction and strategic focus. With applications ranging from data processing and verification to supply chain management, RPA has become a transformative tool in sectors such as banking, retail, customer support, and human resources management, demonstrating its potential to optimize processes and improve decision-making across a wide range of industries. The adoption of RPA in Latin America, partly driven by the COVID-19 pandemic, highlights its role in accelerated digital transformation, focusing on business continuity, risk reduction, and knowledge generation. Financial institutions and retail companies, in particular, have adopted RPA to enhance operational efficiency and customer service, with successful use cases showing significant time and cost savings, as well as improvements in customer experience.

Banco de la República's monitoring of the local financial market infrastructure is an additional contribution to the country's financial stability. One of the products of that monitoring has been the Payment Systems Report, which is now known as the Financial Infrastructure Report. The change in name, as of this edition, is intended to reflect in a broader way the issues that are addressed in the report. The 2022 edition includes several changes that are the result of a comparative study of financial infrastructure reports prepared by other central banks. These changes seek to make the report more fluid and easier to read, including main points and selected key figures for the different interest groups to which it is addressed. The report shows the financial infrastructure continued to render its services without interruption, with general evidence of good performance in 2021. Additionally, the resilience of the Central Counterparty Risk of Colombia (CRCC) and the Large-value Payments System (CUD) to extreme events was validated, based on stress tests conducted according to international standards (focused on liquidity and credit risk). As for retail payments, transactional information indicates the use of electronic instruments increased in terms of value during 2021 compared to 2020 (credit and debit cards, checks and electronic funds transfers). The use of debit and credit cards in payments rose to levels similar to those reached in the pre-pandemic year. Meanwhile, electronic funds transfers continued to grow. Although the results of the BR 2022 survey show cash continues to be the instrument most used by the public for regular payments (like the situation in other countries), the perception of its use decreased significantly to 75 % (87 % in 2019). Also, in commerce, cash was the preferred instrument for customers. However, in this measurement, several retail channels such as hairdressers, drugstores and restaurants joined the group that has traditionally received electronic payments for a value greater than 10% of their sales (hypermarkets and gas stations). Likewise, for nearly 50% of the population, cash payments are lower than before the pandemic. This is consistent with the transactional increase in electronic payment instruments that was observed in 2021. Banco de la República continues to monitor the technological developments that have expanded and modernized the supply in the international and local payments market, as these are issues of interest to the industry that provides clearing and settlement services. This report outlines the Pix case for instant payments in Brazil, the projects that are underway regarding the possible issue of digital currency by central banks (CBDC) for cross-border payments, as well as an approach to the Fintech ecosystem in Colombia, with an emphasis on companies that provide payment services. Leonardo Villar Governor Main points: 2022 The local financial infrastructure was safe and efficient throughout the year. The services of the financial infrastructure were proved on a continuous basis, showing good performance overall. Less momentum in the large-value payment system CUD activity declined versus the previous year because of fewer government deposits with BanRep. This was offset partially by growth in repos to increase money supply and in retail-value payments (electronic funds transfers, checks and cards). Increased momentum in financial market infrastructures. Larger amounts were cleared and settled through the Central Securities Depository (DCV) due to an increase in the market for sovereign debt. Operations managed by the Central Counterparty Risk of Colombia (CRCC) increased due to inclusion of the foreign exchange segment and the positive evolution in non-delivery forward peso/dollar contracts. Added confidence in the peso/dollar spot foreign exchange market due to CRCC interposition. Number and value of trades grew, mainly due to the adjustment of therisk management model for the FX segment and the increase in the limiton net selling positions in dollars. Stress testing with international standards to validate CRCC and CUD resilience Stress tests conducted independently by the SFC, BanRep and the CRCC, like those done in England and the United States, concluded that the CRCC's risk management model allows it to withstand extreme market events and simultaneous defaults by its main members. Based on the experience of other central banks, BanRep strengthened its intraday liquidity risk stress exercises in the CUD by incorporating temporary payment delays. It calculated that a two-hour delay by a key participant increases the system's liquidity needs by 0.5%. Electronic payments increased during 2021 According to transactional information, all electronic payment instruments increased in value versus 2020 (electronic funds transfers, checks and debit and credit cards). Electronic funds transfers continued to grow (80% from legal entities), with the participation of closed schemes driven particularly by the use of mobile wallets (35% of the number of intra-transfer transactions). The use of debit and credit cards for payments climbed to levels similar to those witnessed in the pre-pandemic year. Cash continues to be the instrument most used by the public for regular payments. The results of the BanRep survey in 2022 show that the perception of the use of cash declined significantly to 75% (87% in 2019), and about 50% of the population perceive their cash payments as being lower than those they made before the pandemic. Electronic funds transfers were second most used instrument, having increased to 15% (3% in 2019). Also, in commerce, cash was the preferred instrument of payment for its customers; however, several commerce channels received more than 10% of the value of their sales in electronic payments (hypermarkets 35%, gas stations 25%, hairdressers 15%, drugstores 14% and restaurants 12%). Continuous technological developments have broadened, and modernized services offered in the payments market. Pix (instant payments in Brazil). The high level of adoption of instant transfers in Brazil motivated a review of its strengths; namely, the possibility of different use cases between individuals, businesses, and government; high participation by financial and payment institutions; free of charge for individuals and the possibility of charging legal entities, and simple user experience. Digital currencies in central banking. Several groups of countries have joined forces to conduct pilot projects with wholesale CBDCs for cross-border payments. Flows generated by international trade, foreign investment and remittances between individuals can be processed more efficiently, transparently, and securely by reducing their cost and increasing their speed. Due to the constant progress being made on this issue, BanRep will continue to monitor all CBDC-related matters. The fintech ecosystem for payments in Colombia. A high percentage of existing FinTech companies in the country are dedicated to offering digital payment services: wallets, payment gateways, mobile devices (point-of-sale terminals) and acquisition. These have driven innovation in payment services.