Electronic Banking .. Opportunities and Challenges
15/3/2018 12:00 am
[rtl] Dr.. In the name of Brahimi,
it is no secret to anyone that the world is evolving more rapidly than we thought until recently, and catching up with this development is one of the major challenges facing producers and consumers alike. In contrast, modern innovations offer opportunities that can be used to change rules Competition and the form of contenders constantly making the life cycle of the most active products
very short .
In turn, the financial technology has been subject to the same rules, as statistics from the Bank for International Settlements that the amounts invested in startups specialized in financial technology amounted to about 40 billion dollars and a huge growth rate of (1600%) during the period (2010-2016), was more than one third These companies work in the area of payment and financial adjustments, while about a quarter work in the field of computers and electronic protection systems.
Some observers believe that the important developments in this area exceeded the subject of financial services provided electronically (online) to operations that will change the balance of banking fully in the next few years, as some companies are now offering themselves a substitute for the traditional bank, as well as the introduction of means Social networking on the line of competition after Facebook announced that it will offer its subscribers the service of using their pages to raise money for their own projects, and in the same direction is preparing (Watsab) to launch payment service using special technology.
In order to keep abreast of these developments, the Central Bank of Iraq has prepared an important program that is now being implemented in order to modernize the electronic structure of Iraqi banks. Certainly, the speed of response differs from one bank to another, and the speed of response of beneficiaries is different from one customer to another. Whether from banks or customers is still not too excited to enter the modern banking world.
As for the banks, they realize the importance of this shift, but their reluctance is due to the large amounts they need for this change. As for the customers, the reluctance in automation comes because of lack of knowledge. In turn, the Central Bank realized these obstacles and is working to solve them by pressing banks to modernize their systems. , As well as the implementation of an educational program for citizens at all levels, and I think the positive results of this will appear [/rtl]
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