Banking Industry in 21st Century: Challenges and Opportunities

A bank is a financial institution which has the authority to accept deposits and lend money. The other main activities involved in banking include clearing of cheques, remittance of funds, lockers and safe deposits, overseas banking services, wealth management, investment banking, etc. The banking industry is going through a transformation due to various reasons such as compliance pressures and increased regulation, increased competition from new fintech companies, disruptive technology, and evolving business models. The international banking industry faces various challenges such as consolidating in the face of shifting global growth balances, increased global financial volatility, and weak growth in developed nations. Some of the upcoming technologies which find application in the banking industry are blockchain technology and artificial intelligence. This book unfolds the innovative aspects of banking, its challenges and opportunities. It will also provide interesting topics for research, which interested readers can take up. The book will serve as a valuable source of reference for graduate and postgraduate students.