Intelligent Digital Banking Technology and Architecture

Abstract

The digital banking sector has made tremendous progress in user-friendly, efficient, and rapid financial transactions, owing to the exponential growth of ICT technologies. Consequently, many new banking products, services, and business opportunities have emerged. This paper presents a comprehensive analysis of new emerging technologies and architecture that can support the development of intelligent digital banking platforms. The aim of this study is to explore the latest relevant technology to enhance customer experience and minimize human interaction to prevent the spread of COVID-19. The study follows Kitchenham's SLR principles and goes into great depth regarding the process of choosing and analyzing relevant research papers. This research promoted 40 articles that discuss potential emerging technologies, such as artificial intelligence, blockchain, big data, biometrics, and cloud computing. Some key areas of literature were examined, such as technological trends, potential features, and technical solutions. The articles selected were based on specific criteria and used high-quality databases, including IEEE Xplore, Elsevier, SpringerLink, ACM, and AIS. This study considered recent papers published between 2015 and 2021. The mapping study presents digital banking technology and proposes an integrated architecture for developing intelligent digital banking platforms.

Untitled

“…Utilizing data analysis allows for many benefits, including a shorter development cycle, lower overall costs, and better outcomes for existing and brand-new products. Combining data with robust analytics gives businesses a solid foundation to build and carry out all the tasks necessary to make the right calls [10].…”

“…As a result, social media's impact on the market must be considered. It is arguably the most potent factor influencing the global financial system [10]. Every day, social media platforms generate tens of thousands, if not millions, of pieces of content.…”

“…Big Data and Metaverse can also help companies reduce costs and increase profits by streamlining processes such as authentication and payments. By automating processes such as these, companies will be able to cut down on manual labor costs and increase their efficiency [10].…”

“…Many firms in the banking and fintech industries are evaluating the waters of the metaverse with the help of augmented and virtual reality technologies. There will be a great variety of enterprises to meet the monetary needs of users in the metaverse because it will have its own economy [10].…”

“…Lastly, data-sharing networks will further enhance the capabilities of big data tools, allowing companies to share and store massive volumes of data securely. These advances together can create a powerful suite of tools for financial institutions worldwide [10].…”