IDEAS home Printed from https://ideas.repec.org/a/gam/jijfss/v8y2020i2p32-d363774.html
   My bibliography  Save this article

Are We Ready for the Challenge of Banks 4.0? Designing a Roadmap for Banking Systems in Industry 4.0

Author

Listed:
  • Amir Mehdiabadi

    (Department of Management, South Tehran Branch, Islamic Azad University, Tehran 1584743311, Iran)

  • Mariyeh Tabatabeinasab

    (Department of Law, Payame Noor University, Tehran 1584743311, Iran)

  • Cristi Spulbar

    (Faculty of Economics and Business Administration, University of Craiova, Craiova 200585, Romania)

  • Amir Karbassi Yazdi

    (Young Researchers and Elite Club, South Tehran Branch, Islamic Azad University, Tehran 1584743311, Iran)

  • Ramona Birau

    (Faculty of Education Science, Law and Public Administration, Constantin Brancusi University of Targu Jiu, Târgu Jiu 210135, Romania)

Abstract

The purpose of the present paper is to provide an advanced overview of the practical applications of Banking 4.0 in Industry 4.0. This paper examines the technology trends in the Fourth Industrial Revolution and identifies the key indicators behind the creation of a strategic map for the fourth-generation banks and their readiness to enter Industry 4.0. This paper examines a systematic review of fully integrated Banking 4.0 and the application of the technologies of Industry 4.0 and illustrates a distinct pattern of integration of Banking 4.0 and Industry 4.0. One of the prominent features of this article is the performance of successful global banks in applying these technologies. The results showed that Banking 4.0 in Industry 4.0 is an integrative value creation system consisting of six design principles and 14 technology trends. The roadmap designed for banks to enter Industry 4.0 and how they work with industrial companies will be a key and important guide.

Suggested Citation

  • Amir Mehdiabadi & Mariyeh Tabatabeinasab & Cristi Spulbar & Amir Karbassi Yazdi & Ramona Birau, 2020. "Are We Ready for the Challenge of Banks 4.0? Designing a Roadmap for Banking Systems in Industry 4.0," IJFS, MDPI, vol. 8(2), pages 1-29, May.
    • Handle: RePEc:gam:jijfss:v:8:y:2020:i:2:p:32-:d:363774
    as

    Download full text from publisher

    File URL: https://www.mdpi.com/2227-7072/8/2/32/pdf
    Download Restriction: no
    File URL: https://www.mdpi.com/2227-7072/8/2/32/
    Download Restriction: no
    ---><---

    References listed on IDEAS

    as
    1. Gift Kimonge Dzombo & James M. Kilika & James Maingi, 2017. "The Effect of Branchless Banking Strategy on the Financial Performance of Commercial Banks in Kenya," International Journal of Financial Research, International Journal of Financial Research, Sciedu Press, vol. 8(4), pages 167-183, October.
    2. Saghiri, Soroosh & Wilding, Richard & Mena, Carlos & Bourlakis, Michael, 2017. "Toward a three-dimensional framework for omni-channel," Journal of Business Research, Elsevier, vol. 77(C), pages 53-67.
    3. Sikorski, Janusz J. & Haughton, Joy & Kraft, Markus, 2017. "Blockchain technology in the chemical industry: Machine-to-machine electricity market," Applied Energy, Elsevier, vol. 195(C), pages 234-246.
    4. Bhattacharya Sudipto & Thakor Anjan V., 1993. "Contemporary Banking Theory," Journal of Financial Intermediation, Elsevier, vol. 3(1), pages 2-50, October.
    5. Alessandro Muscio & Andrea Ciffolilli, 2020. "What drives the capacity to integrate Industry 4.0 technologies? Evidence from European R&D projects," Economics of Innovation and New Technology, Taylor & Francis Journals, vol. 29(2), pages 169-183, February.
    6. Dennis Kolberg & Joshua Knobloch & Detlef Zühlke, 2017. "Towards a lean automation interface for workstations," International Journal of Production Research, Taylor & Francis Journals, vol. 55(10), pages 2845-2856, May.
    7. Lee, In & Shin, Yong Jae, 2018. "Fintech: Ecosystem, business models, investment decisions, and challenges," Business Horizons, Elsevier, vol. 61(1), pages 35-46.
    8. Athanasoglou, Panayiotis & Delis, Manthos & Staikouras, Christos, 2006. "Determinants Of Bank Profitability In The South Eastern European Region," MPRA Paper 10274, University Library of Munich, Germany.
    9. Rima Turk Ariss, 2008. "Financial liberalization and bank efficiency: evidence from post-war Lebanon," Applied Financial Economics, Taylor & Francis Journals, vol. 18(11), pages 931-946.
    Full references (including those not matched with items on IDEAS)

    Citations

    Citations are extracted by the CitEc Project, subscribe to its RSS feed for this item.
    as


    Cited by:

    1. Jacek Pietrucha & Grzegorz Maciejewski, 2020. "Precautionary Demand for Cash and Perceived Risk of Electronic Payments," Sustainability, MDPI, vol. 12(19), pages 1-25, September.
    2. Tortorella, Guilherme Luz & Saurin, Tarcisio A. & Hines, Peter & Antony, Jiju & Samson, Daniel, 2023. "Myths and facts of industry 4.0," International Journal of Production Economics, Elsevier, vol. 255(C).
    3. Monika Klimontowicz & Anna Losa-Jonczyk & Bogna Zacny, 2021. "Banks’ Energy Behavior: Impacts of the Disparity in the Quality and Quantity of the Disclosures," Energies, MDPI, vol. 14(21), pages 1-14, November.
    4. Ifrah Siddique & Muhammad Azmat Hayat & Muhammad Zahid Naeem & Abdullah Ejaz & Cristi Spulbar & Ramona Birau & Toni Calugaru, 2021. "Why Do Countries Request Assistance from International Monetary Fund? An Empirical Analysis," JRFM, MDPI, vol. 14(3), pages 1-19, March.
    5. Krzysztof Majcher & Michał Musiał & Wojciech Pakos & Adrian Różański & Maciej Sobótka & Tomasz Trapko, 2021. "A Systematic Review of HPM Energy Absorbers for Building Applications," Energies, MDPI, vol. 14(19), pages 1-22, September.
    6. Olivér Kovács, 2022. "Zombification and Industry 4.0—Directional Financialisation against Doomed Industrial Revolution," Social Sciences, MDPI, vol. 11(5), pages 1-24, May.
    7. Niloofar Jahani & Arash Sepehri & Hadi Rezaei Vandchali & Erfan Babaee Tirkolaee, 2021. "Application of Industry 4.0 in the Procurement Processes of Supply Chains: A Systematic Literature Review," Sustainability, MDPI, vol. 13(14), pages 1-25, July.
    8. Molla Ramizur Rahman & Arun Kumar Misra, 2021. "Bank Competition Using Networks: A Study on an Emerging Economy," JRFM, MDPI, vol. 14(9), pages 1-18, August.
    9. Peiman Ghasemi & Amir Mehdiabadi & Cristi Spulbar & Ramona Birau, 2021. "Ranking of Sustainable Medical Tourism Destinations in Iran: An Integrated Approach Using Fuzzy SWARA-PROMETHEE," Sustainability, MDPI, vol. 13(2), pages 1-32, January.

    Most related items

    These are the items that most often cite the same works as this one and are cited by the same works as this one.
    1. Chen, Ting-Hsuan & Shen, Chung-Hua & Wu, Meng-Wen & Huang, Kuo-Jui, 2021. "Effect of shadow banking on the relation between capital and liquidity creation," International Review of Economics & Finance, Elsevier, vol. 76(C), pages 166-184.
    2. Michiel Bijlsma & Wouter Elsenburg & Michiel van Leuvensteijn, 2010. "Four Futures for Finance; A scenario study," CPB Document 211.rdf, CPB Netherlands Bureau for Economic Policy Analysis.
    3. Lakshmi Balasubramanyan, 2011. "The Impact of Concurrent Capital and Liquidity Requirements," NFI Working Papers 2011-WP-25, Indiana State University, Scott College of Business, Networks Financial Institute.
    4. Simon Cornée, 2014. "Soft Information and Default Prediction in Cooperative and Social Banks," Journal of Entrepreneurial and Organizational Diversity, European Research Institute on Cooperative and Social Enterprises, vol. 3(1), pages 89-103, June.
    5. Agnès Labye & Christine Lagoutte & Françoise Renversez, 2002. "Banques mutualistes et systèmes financiers : une analyse comparative Allemagne, Grande-Bretagne, France," Revue d'Économie Financière, Programme National Persée, vol. 67(3), pages 85-109.
    6. Mustafa Raza Rabbani & Shahnawaz Khan & Eleftherios I. Thalassinos, 2020. "FinTech, Blockchain and Islamic Finance: An Extensive Literature Review," International Journal of Economics & Business Administration (IJEBA), International Journal of Economics & Business Administration (IJEBA), vol. 0(2), pages 65-86.
    7. Apanard P. Prabha & Clas Wihlborg & Thomas D. Willett, 2012. "Market Discipline for Financial Institutions and Markets for Information," Chapters, in: James R. Barth & Chen Lin & Clas Wihlborg (ed.), Research Handbook on International Banking and Governance, chapter 13, Edward Elgar Publishing.
    8. Iván Sosa Gómez & Óscar Montes Pineda, 2023. "What is an InsurTech? A scientific approach for defining the term," Risk Management and Insurance Review, American Risk and Insurance Association, vol. 26(2), pages 125-173, July.
    9. Ruixin Su & Tong Zheng & Yuzhao Zhong & Weizhou Zhong, 2023. "Role of Digital Inclusive Finance for High-Quality Business Development: A Study of China’s “Five Development Concept” Policy," Sustainability, MDPI, vol. 15(15), pages 1-21, August.
    10. Iosifidi, Maria & Kokas, Sotirios, 2015. "Who lends to riskier and lower-profitability firms? Evidence from the syndicated loan market," Journal of Banking & Finance, Elsevier, vol. 61(S1), pages 14-21.
    11. Joohyung Ha, 2021. "Bank accounting conservatism and bank loan quality," Journal of Business Finance & Accounting, Wiley Blackwell, vol. 48(3-4), pages 498-532, March.
    12. Ginés Hernández-Cánovas & Pedro Martínez-Solano, 2007. "Effect of the Number of Banking Relationships on Credit Availability: Evidence from Panel Data of Spanish Small Firms," Small Business Economics, Springer, vol. 28(1), pages 37-53, January.
    13. Nicolae BALTEȘ & Alexandra-Gabriela-Maria DRAGOE & Sebastian-Ilie DRAGOE, 2016. "The evaluation of the companies financial performance through the rates of return," Theoretical and Applied Economics, Asociatia Generala a Economistilor din Romania - AGER, vol. 0(Special(I), pages 84-95.
    14. Nik Hadiyan Binti Nik Azman, 2023. "Game analysis between startup and banks," GATR Journals gjbssr631, Global Academy of Training and Research (GATR) Enterprise.
    15. Panagiotis Staikouras & Christos Staikouras & Maria-Eleni Agoraki, 2007. "The effect of board size and composition on European bank performance," European Journal of Law and Economics, Springer, vol. 23(1), pages 1-27, February.
    16. Cai, Ya-Jun & Lo, Chris K.Y., 2020. "Omni-channel management in the new retailing era: A systematic review and future research agenda," International Journal of Production Economics, Elsevier, vol. 229(C).
    17. Ehrmann, M. & Worms, A., 2001. "Interbank Lending and Monetary Policy Transmission: Evidence for Germany," Papers 73, Quebec a Montreal - Recherche en gestion.
    18. Jean-Charles Rochet, 2003. "Réglementation prudentielle et discipline de marché," Revue d'Économie Financière, Programme National Persée, vol. 73(4), pages 201-212.
    19. Alaassar, Ahmad & Mention, Anne-Laure & Aas, Tor Helge, 2021. "Exploring a new incubation model for FinTechs: Regulatory sandboxes," Technovation, Elsevier, vol. 103(C).
    20. Decamps, Jean-Paul & Rochet, Jean-Charles & Roger, Benoit, 2004. "The three pillars of Basel II: optimizing the mix," Journal of Financial Intermediation, Elsevier, vol. 13(2), pages 132-155, April.

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:gam:jijfss:v:8:y:2020:i:2:p:32-:d:363774. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    If CitEc recognized a bibliographic reference but did not link an item in RePEc to it, you can help with this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: MDPI Indexing Manager (email available below). General contact details of provider: https://www.mdpi.com .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.