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Platforms for Banking 5.0

In: Banking 5.0

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  • Bernardo Nicoletti

    (Temple University)

Abstract

Banking 5.0 platforms are strategic components that support organizational efficiency, effectiveness, and profitability. They support the creation of new business models, products, and services. Innovative digital platforms in banking 5.0 yield several benefits. They support daily banking and administrative tasks, aid in making complex decisions, and help in managing processes. The platforms’ real goal is to free banking organizations from operational tasks and support their focus on strategic decisions and activities. The leading platforms based on banking 5.0 are artificial intelligence, with its essential components of big data analytics, cognitive solutions, and Robotic process automation (RPA). These platforms can play crucial roles in the banking 5.0 transformation. To implement banking 5.0, it is necessary to digitize banking processes heavily. There are challenges. The chapter analyzes such problems in legacy systems, current cultures, procedures, processes, abilities, and capabilities.

Suggested Citation

  • Bernardo Nicoletti, 2021. "Platforms for Banking 5.0," Palgrave Studies in Financial Services Technology, in: Banking 5.0, chapter 0, pages 231-301, Palgrave Macmillan.
    • Handle: RePEc:pal:psincp:978-3-030-75871-4_8
    DOI: 10.1007/978-3-030-75871-4_8
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