We have great pleasure in presenting First edition “Digital Banking and Innovation” written for students of UG courses. The related matters are written in a simple and easily understandable.
This volume is an attempt to provide the students with thorough understanding of Digital Banking and Innovation. We have presented the subject matter in a systematic manner with liberal use of charts and diagrams where ever necessary so as to make it interesting and sustain students’ interest.
Contents –
Module – 1 Foundations of Digital Banking
Introduction
Evolution of Banking
Traditional to Digital Transformation
Comparison between Traditional Banking and Digital Banking
Digital Banking
Meaning of Digital Banking
Features of Digital Banking
Scope of Digital Banking
Significance of Digital Banking
Advantages of Digital Banking
Limitations of Digital Banking
Branchless Banking
Digital Banking Channels and Platforms
Digital Banking Ecosystem in India
Financial Inclusion Initiatives:
Jan Dhan
Aadhaar
Mobile Banking Initiatives
Role of Reserve Bank of India (RBI) in
Digital Banking Regulation
Case Studies
Key Word
Multiple Choice Questions (MCQs)
Review Questions
Module – 2 Digital Payment Systems and Services
Introduction
Domestic Payment Systems
RuPay
AEPS
NACH
Unified Payments Interface (UPI) and its Architecture
Role of National Payments Corporation of India (NPCI)
Mobile Wallets
Prepaid Payment Instruments
QR Code Payments
Cards
ATMs
Cash Deposit Machines (CDM)
Internet Banking and Mobile Banking Services
Electronic Fund Transfers (NEFT, RTGS, and IMPS)
Personal Financial Management (PFM) Tools
Case Studies of Digital Payment Platforms such as Google Pay
PhonePe
Paytm
BHIM
Case Studies
Key Word
Multiple Choice Questions (MCQs)
Review Questions
Module – 3 Financial Technology (Fintech) Innovations
Introduction
Evolution of FinTech
Role of Start-ups in Financial Innovation
Neobanks and Digital Banking Business Models
Digital Lending Platforms
Peer-to-Peer Lending
Artificial Intelligence (AI)
Machine Learning Applications in Banking
Digital Investment Platforms
Robo-Advisory Services
InsurTech
RegTech and WealthTech
Impact of FinTech on Traditional Banking Services
Case Studies
Key Word
Multiple Choice Questions (MCQs)
Review Questions
Module – 4 Cyber Security and Risk Management in Digital Banking
Introduction
Types of Cyber Threats
Phishing
Malware
Identity Theft
Social Engineering Attacks
Payment Security Mechanisms: OTP
Two-Factor Authentication (2FA)
Tokenization
Data Privacy and Protection Frameworks
Cyber Security Guidelines Issued by RBI
Risk Management in Digital Transactions
Fraud Detection Systems
Customer Protection in Unauthorized Electronic Transactions
Grievance Redressal Mechanisms
Consumer Awareness
Safe Digital Practices
Cyber Fraud Case Studies in Digital Banking
Case Studies
Key Word
Multiple Choice Questions (MCQs)
Review Questions
Module – 5 Emerging Trends and Future of Digital Banking
Introduction
Open Banking and Application-Based Banking Services
Central Bank Digital Currency (CBDC)
Cryptocurrencies and their Role in Finance
Global Trends in Digital Payments
Virtual Banking
Metaverse Banking Concepts
Green Banking
Sustainable Digital Banking Practices
Impact of Digital Banking on Traditional Banking Structure
Career Opportunities in Digital Banking and FinTech
Challenges
Opportunities
Future Outlook of Digital Banking in India
Case Studies
Key Word
Multiple Choice Questions (MCQs)
Review Questions
