5G and Next-Gen Consumer Banking Services
- Length: 200 pages
- Edition: 1
- Language: English
- Publisher: CRC Press
- Publication Date: 2021-12-23
- ISBN-10: 1032055723
- ISBN-13: 9781032055725
- Sales Rank: #0 (See Top 100 Books)
The future has been already started. The banking industry needs to adjust, or it will disappear in the next decade. With the help of 5G, the next-generation intelligent ATM-like devices will have highly integrated functions and use technologies such as Artificial Intelligences assisted self-service contactless interface with face recognition and digital signature. The author focuses on new experiences that clients can expect when connected to a 5G network with a 5G device in the list below. By 2022 we hope that 5G will:
- Drive accelerated mBanking growth.
- Power Augmented Reality / Virtual Reality. It is expected that 5G help make Video shopping experiences more widespread and compelling.
- 5G will make it possible for banks to deploy highly personalized customer service experiences.
- Support time-sensitive banking applications, like, e.g., Online stock trading where milliseconds can judge between a win or loose
- Improve security and fraud prevention. By computing and exchanging more data traveling between parties in real-time.
- Enhance mPOS transactions and utilization. 5G holds the potential to accelerate mobile point of sale (MPOS) transaction processing time and improve connectivity.
- In order to explore these topics, this book covers:
- Decentralization of the Banks
- Banking without Banks
- 5G will change Bank Industry
- BlockChain adoption by the Banking industry
- Modern Banking Industry
Cover Half Title Title Page Copyright Page Table of Contents Acknowledgements Author Chapter 1: Introduction The Answer Is in the Core Infrastructure Development Testing Instant Payment 5G Innovations What 5G Could Mean for Banks Next-gen Customer Service Micro Banking Branches In a Nutshell What Will Be Good to Take from This Chapter? Traditional Banking Banking Core Omnichannels Monolith Architecture Microservices Instant Payments Chapter 2: Traditional Banking Beginning of the Banking Development of the Banking Computer ERA in Banking The Use of Computers and Internet in Banking Introduction of Mobile Introduction of Credit Cards Monolithic Architecture of the Banking Software Systems Modernizing Core Banking Systems Progressive Modernization Architecture Database Silos and Why They Aren’t Good Anymore Security Point of View (from the Beginning to the Mobile Banking Era Short Overview) In a Nutshell What Will Be Good to Take from This Chapter? Modernization of the Core System Database Silos Chapter 3: Blockchain What Blockchain Means to the FinTech Industry? How Do Blockchain Transform Banking and FinTech Industry? What Exactly Is Blockchain in Relation to the Commercial and Banking Industry? Behind the Curtain Mechanics of the Blockchain Receiving the Digital Currency How Can Banks and FinTech Benefit from Blockchain Technology? Use Cases of Blockchain in Consumer Banking The Future of Blockchain in Banking Payments Revolution Beyond Payments Speed of Adoption In a Nutshell What Will Be Good to Take from This Chapter? Blocks Ledger Hash Code Mining Chapter 4: 5G Opportunity 5G Opportunity Edge Computing What Is Edge Computing? Smart Banking in 5G World The Architecture of Smart Bank Branch A One-Stop Financial Service Centre AI and VR-based Smart Banking How It Will Impact the Digital Banking Experience? KYC Onboarding In a Nutshell What Will Be Good to Take from This Chapter? Edge Computing Smart Banking KYC Chapter 5: Digital Consumer Future of Money The Digital Euro Cryptocurrencies Show Risks Cutting Banks as a Middleman Regulators Embrace Blockchain The Future of Digital Transactions In a Nutshell What Will Be Good to Take from This Chapter? Chapter 6: Synergy Digital Footprint How It Works Examples Understanding How It Functions Why It Matters Data Centralization Defining Data Centralization Benefits Quantum Computing How Quantum Computers Work? Quantum Computing and Banking An Example 5G Fundamentals for 6G The Basics The Challenges Developments and Solutions In a Nutshell What Will Be Good to Take from This Chapter? Digital Footprint Data Centralization Quantum Computing Chapter 7: Machine Learning, PaaS, and Other Future Banking Trends AI Banking Readiness Learning from Other Industries Power of Machine Learning in Analytics Machine Learning Options and Sales Strategy Machine Learning: The Rise of the (chat)Bots Payment-As-A-Services What Is the Purpose of PaaS? Benefits How Does It Work? Impact (in a Nutshell) Digital ID Is Becoming a Hidden Payments’ Enabler for Retailers Unlocking a Bold New Ecosystem What Form Will the New Digital ID Take? Fingerprint Biometrics as a Digital Identity Building Trust with Biometrics Securing the Future of the Financial Industry In a Nutshell What Will Be Good to Take from This Chapter? Machine Learning Payment-as-a-Services Chapter 8: Blockchain Bank Architecture What Could Be Exactly Blockchain in the Banking Context? Know Your Customer Steps KYC Push What Are the Benefits of Blockchain KYC? Public Perception about Using Blockchain Technology Banking-as-a-Service How Banking-as-a-Service (BaaS) Works? What Will Be Banking-as-a-Service? What Does BaaS Contain? Banking Software Will Become Modular Banking Software Platforms Are Not BaaS Blockchain Payment Software Blockchain-based Payment System In a Nutshell What Will Be Good to Take from This Chapter? Banking-as-a-Service Blockchain Payment Software Chapter 9: Common Features: Banking of Tomorrow Transactions of Tomorrow Banks Look to Save Their Place in Tomorrow’s Economy COVID-19 Accelerates Digital Banking Transformation Tech Partnerships Will Be Essential Rise of Digital Currencies Data and Software Are the Heart of the Digital Transformation Economy Savings of Tomorrow Money-saving Isn’t Easy Spending Budget? Lower Fees for Spend Money Worldwide Vaults Spare Change Savings From Official Revolut Website Loans of Tomorrow Getting a Bitcoin Loan What Is a DeFi CryptoCurrency Lending? What Are Loan Models Available? Uses of Bitcoin Loans Risks of Crypto Loans for Borrowers Risks of Crypto Loans for Lenders Lack of Regulation In a Nutshell What Will Be Good to Take from This Chapter? Rise of Digital Currencies Data and Software Are the Heart of the Digital Transformation Economy What Is a DeFi Cryptocurrency Lending? Chapter 10: Insurances Based on the Decentralized Network How Blockchain Can Help the Insurance Industry Using Blockchain to Get the Basic Aspects Right Using Blockchain to Support Innovations Blockchain’s True Value Investment in DLT How Insurance Firms Are Implementing Blockchain Technologies Using Consortia to Develop Blockchain Capabilities for Insurance Firms Beyond Proof of Concept Successful Implementation of DLT within the Insurance Ecosystem Market Leaders Peer Networks Benefits of Blockchain in the Insurance Field Blockchain Insurance Uses What Is an Electronic Signature? The Three Types of Electronic Signatures Simple Electronic Signatures Advanced Electronic Signatures (AdES) Qualified Electronic Signatures (QESs) When Should an Electronic Signature Be Used? Electronic Signatures in the EU In a Nutshell What Will Be Good to Take from This Chapter? How Blockchain Can Help the Insurance Industry Benefits of Blockchain in the Insurance Field Electronic Signatures in the EU Chapter 11: FinTech in Time The Future of Digital Banking Digital Open Banking Is Rewriting the Banking Rules! The Road Ahead for Indian Open Banking Ecosystems Financial Services Predictions Predictions Banks Will Become Similar to the Post Office in Terms of Perception All Businesses Will Be FinTech-based Latin America Will Show the Fastest Rate of Growth The War between Banks and Aggregators Will Be Lost Ant Financial’s Market Share Will Grow to Make it the Largest Financial Institution Globally Customers Will Avoid Physical Banking in the Future Advancements in Financial Technology Growth of Digital Banks Concept Branches Branches for the Unbanked How Banking Will Change by People Having a Say “Best of Both” Business Models Increased Security and Growth Focuses Innovation Enhanced Security Focus Emerging Regulations for Technology Big Tech and Borrowing Social Media Currency The Impact of Social Banking Can Blockchain Provide Security? The Fate of Laggard Business Models for Banking in In Conclusion
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