1st Edition
Shaping Cutting-Edge Technologies and Applications for Digital Banking and Financial Services
Cutting-edge technologies have recently shown great promise in a variety of activities for enhancing the existing services of a bank such as the improvement of transactions, ensuring that transactions are done correctly, and managing records of services of savings accounts, loan and mortgage services, wealth management, providing credit and debit cards, overdraft services and physical evidence as key drivers of bank ecosystem. In the financial world, emerging analytics and prediction tools can be used to analyze and visualize structured data, such as financial market data, and to forecast future trends that can be supported leaders to make informed decisions about investment strategies. The book explores the importance of AI-based predictive analytics tools in the financial services industry and their role in combating financial fraud. As fintech continues to revolutionize the financial landscape, it also brings forth new challenges, including sophisticated fraudulent activities. Therefore, this book shares the problem of enhancing fraud detection and prevention through the application of predictive analytics. This book contributes to a deeper understanding of the importance of predictive analytics in finance field and its pivotal role in cybersecurity and combating fraud. The chapter provides valuable insights for the financial services industry, researchers, and policymakers, aiming to fortify the security and resilience of financial systems in the face of evolving financial fraud challenges. Today, artificial intelligence (AI) has replaced recurrent intellectual decisions due to the availability of information and its access. These changes have created a revolution in financial operations resulting in environmental variations in the banking and finance sectors. Likewise, analytics transformed the not only finance field but also banking as it is increasing the transparency of lending-related activities. This book also provides a set of tools for complex analyses of people-related data and through a variety of statistical analysis techniques ranging from simple descriptive statistics to machine learning, HR analytics enables performance evaluation and increases the transparency of finance transactions as well as the problems, advantages, and disadvantages of new digital transformation. The book is not merely a compilation of technical knowledge; it is a beacon of innovation that beckons readers to envision a future where cutting-edge technologies and finance services intertwine seamlessly. With its engaging and thought-provoking content, the book leaves an indelible impression, urging readers to embrace the transformative power of technology and embark on a collective mission to unlock the full potential of fintech for the betterment of humanity.
Preface
Acknowledgments
About the Editor
Contributors
Chapter 1: Shaping Cutting-Edge Technologies and Applications for Digital Banking and Financial Services
Vittal Jadhav and Alex Khang
Chapter 2. Quantum Computing and Portfolio Optimization in Finance Services and Digital Economy
Alex Khang, Kali Charan Rath, Karteek Madapana, N. V. Jagannadha Rao, Lakshmi Prasad Panda and Subhasish Das
Chapter 3. Fintech and Data Science Shaping the Future of the Digital Economy
Om Prakash Yadav, RajKumar Teotia and Rashi Baliyan
Chapter 4. Financial Forecasting with Convolutional Neural Networks (CNNs): Trends and Challenges
Tarun Kumar Vashishth, Vikas Sharma, Kewal Krishan Sharma, Shahanawaj Ahamad and Vineet Kaushik
Chapter 5. Application of Internet of Things (IoT) in Banking and Finance Services
Roheen Qamar and Baqar Ali Zardari
Chapter 6. Artificial Intelligence (AI) and Data Analytics: A New Era in the Financial Industry
Sita Rani, Ravinder Singh and Alex Khang
Chapter 7. The Prospects for Applications of Quantum Computing in the Financial Sector
Vijai Chandrasekar and Worakamol Wisetsri
Chapter 8. Opportunities and Challenges of Artificial Intelligence (AI) in the Banking and Finance Sector
Piyal Roy, Shivnath Ghosh, Amitava Podder and Saptarshi Kumar Sarkar
Chapter 9. Technology Transformation Impact on Digital Banking Services
Shuaib Ahmed M. and Shaply Abdul Kareem
Chapter 10. Evolution of FinTech and Implications for Traditional Banking and Finance Sector
Rajashri Roy Choudhury, Megan Aliah Ferrer and Piyal Roy
Chapter 11. Driving Digital Payments the Transformative Impact of Electronic Fund Transfers
Arpita Nayak, Ipseeta Satpathy and Alex Khang
Chapter 12. Robotic Process Automation (RPA): A Streamlining Advancement for Banking and Finance Sector
Diksha Jindal and Mohit Gupta
Chapter 13. How Traditional Banks Adapt to the Fintech Revolution in Banking and Finance Sector
Greena Karani and Babasaheb Jadhav
Chapter 14. Federated Learning for Enhanced Cloud-based Cybersecurity in Banking and Finance Services
Manas Kumar Yogi, Aiswarya Dwarampudi and Yamuna Mundru
Chapter 15. Artificial Intelligence Technology Based Approach in Banking Compliance Supervision
Alex Khang, Vugar Abdullayev Hajimahmud and Yitong Niu
Chapter 16. Enhancing Customer Satisfaction through Alternative Channel Services in the Banking Industry
B.C.M. Patnaik, Ipseeta Satpathy, Anish Patnaik and Alex Khang
Chapter 17. Navigating the Digital Realm Identifying Trends & Opportunities in E-Banking Services
Rahul Jain and Charu Banga
Chapter 18. Role of Edge Technologies and Applications in Banking and Finance Industry
Ushaa Eswaran, Vivek Eswaran, Keerthna Murali and Vishal Eswaran
Chapter 19. Analysis of Internet of Things (IoT) Applications in the Banking Industry
Thi Cam Thu Doan and Anh Tu Nguyen
Chapter 20. The Impact of Artificial Intelligence (AI) Transformation on the Financial Sector from the Trading to Security Operations
Pooja Darda and Meenal K Pendse
Chapter 21. Prioritizing Customer Experience in Digital Banking for Nation's Sustainable Development
Prashant H. Bhagat, Piyush Kumar Jain and Chetana Kaushik
Chapter 22. The Influence of E-Banking Services on Customer Satisfaction of Banks
Paiman Ahmad, Makwan Jamil Mustafa and Bestoon Othman
Chapter 23. How Human Resource Shapes Success in Financial Institutions and Services
Ashwini. Y. Sonawane and Alex Khang
Chapter 24. The Impact of Artificial Intelligence (AI) Transformation in Financial Sector
Manjula Devi Chithiraikannu, Gobinath Arumugam, Padma Priya Sundara Moorthy, Keerthi Srinivasa Kannan and Rajeswari Packianathan
Chapter 25: An Approach of Modified RSA for Enhanced Security of Data Transformation in Mobile Banking
Bilas Haldar and Pranam Paul
Chapter 26. Teaching Materials for Banking and Financial Learners Using the Artificial General Internet of Things (AGIoT)
Muthmainnah Muthmainnah, Busrah Busrah, Besse Darmawati, Ahmad Al Yakin, Erkol Bayram, Alhamzah Alnoor and Subathra Chelladurai
Biography
Dr. Alex Khang is a professor in information technology at the Universities of Science and Technology in Vietnam, and the United States; IT Workforce Development Consultant for High-tech Corporations in the USA and Vietnam; AI and data scientist, software industry expert, and the chief of technology officer (AI and Data Science Research Center) at the Global Research Institute of Technology and Engineering, North Carolina, United States. He has more than 28 years of teaching and research experience in information technology (Software Development, Database Technology, AI Engineering, Data Engineering, Data Science, Data Analytics, IoT-based Technologies, and Cloud Computing) at the Universities of Science and Technology in Vietnam, India, and the USA. He has been the chair session for 20 conferences, keynote speaker for more than 25 international conclaves; an expert tech speaker for 100 seminars and webinars; an international technical board member for 10 international organizations; an editorial board member for more than 5 ISSNs; an international reviewer and evaluator for more than 100 journal papers; an international examiner and evaluator for more than 15 PhD. theses in computer science field
