Banks and banking: digital transformation and the hype of fintech. Business impact, new frameworks and managerial implications

The world of banking is changing for several reasons. While previously arnpurely money-making entity, the industry is enlarging and expanding onrnaccount of the inherent interconnected nature of finance with the everydayrnlives of its customers. The ground rules for success have altered the wayrncustomers bank. New financial service providers, namely Fintech, are goingrnbeyond customer-facing applications and services to include all elements of thernfinancial services production process. A new generation of services and financialrnintermediation frameworks are transforming the industry.rnTaking a transdisciplinary approach, Banks and Banking: Digital Transformationrnand the Hype of Fintech is a comprehensive analysis of how conventionalrnbanking is undergoing a deep transformation and meeting the challenges ofrnFintech and other financial services providers. It outlines the importance ofrnconsidering the traditional fundamentals of banking and fitting them into thernmodern times, where digital technologies are pervasive and the industry isrnexperiencing a deep transformation. Visions, strategies, business models andrnactions are a conscious step away from the past.rnThere are good reasons to believe that this evolution will continue, becauserntechnological changes, customer habits and regulation are co-evolving. Bothrnbanks and Fintech will have to face ever-changing conditions and develop thernability to balance short-term targets and long-term goals, as well as short-termrnmoves and a longer-term vision.rnThis book is a valuable resource for students, researchers and practitionersrninterested in banking, bank management, business models and strategiesrnwilling to create value, from both bank and Fintech perspectives.