You can manage bookmarks using lists, please log in to your user account for this.
Media type:
E-Article
Title:
Big Data-Driven Banking Operations: Opportunities, Challenges, and Data Security Perspectives
Contributor:
Hasan, Morshadul;
Hoque, Ariful;
Le, Thi
Published:
MDPI AG, 2023
Published in:
FinTech, 2 (2023) 3, Seite 484-509
Language:
English
DOI:
10.3390/fintech2030028
ISSN:
2674-1032
Origination:
Footnote:
Description:
<jats:p>At present, with the rise of information technology revolution, such as mobile internet, cloud computing, big data, machine learning, artificial intelligence, and the Internet of Things, the banking industry is ushering in new opportunities and encountering severe challenges. This inspired us to develop the following research concepts to study how data innovation impacts banking. We used qualitative research methods (systematic and bibliometric reviews) to examine research articles obtained from the Web of Science and SCOPUS databases to achieve our research goals. The findings show that data innovation creates opportunities for a well-developed banking supply chain, effective risk management and financial fraud detection, banking customer analytics, and bank decision-making. Also, data-driven banking faces some challenges, such as the availability of more data increasing the complexity of service management and creating fierce competition, the lack of professional data analysts, and data costs. This study also finds that banking security is one of the most important issues; thus, banks need to respond to external and internal cyberattacks and manage vulnerabilities.</jats:p>