COVID-19, Digital Transformation of Banks, and Operational Capabilities of Commercial Banks

The development of financial technology has promoted the innovation and digital transformation of commercial banks. Through digital transformation, commercial banks can improve bank efficiency and operational capabilities. Through empirical analysis, this study explored the relationship between digital bank transformation and commercial bank operating capabilities and how COVID-19, bank categories, and enterprise life cycles affect the relationship between digital bank transformation and commercial bank operating capabilities. This study selected data from China's commercial banks from 2011 to 2021 and used the regression method of fixed effects to conduct an empirical analysis. The research results show that the digital transformation of banks has improved the operational capabilities of commercial banks. Further analysis showed that the emergence of COVID-19 has negatively affected their relationship. At the same time, compared with rural commercial banks and commercial banks in the recession and phase-out periods, non-rural commercial banks and commercial banks in the growth and maturity stages play a more vital moderating role in the impact of the digital transformation of banks on the financial performance of commercial banks. The main research object of this study is Chinese commercial banks, and this study examines the results of banks' digital transformation and enriches the research on digital transformation. At the same time, this study is helpful to investors who like investment banks and has good practical significance.

Performance of IPOs During Covid-19 Pandemic and Factors Affecting Investors' Perception

Initial Public Offering (IPO) is a fund-raising tool through which a company gets listed for the first time under SEBI regulation and issues IPOs to raise funds from the public. The shift from a privately-owned to a publicly-owned firm via an IPO is the most significant event in a company's life (Pagano et al., 1998). In an IPO investment, there is limited historical data to analyze and predict the future performance of the company;hence it becomes a risky investment for the investors as they cannot predict how the shares will perform in the future. Most companies that go for an IPO are in the growth or expansion phase so it becomes more difficult to predict their market position and performance in the future, which leads to uncertainty in deriving their future value. Also, most IPOs are of companies going through a transitory growth period, and are therefore subject to additional uncertainty regarding their future value. This study analyzes the performance of the IPOs issued during the Covid-19 pandemic, when the markets across the world faced massive disruptions. The IPOs from various sectors like finance, technology, service, infrastructure, food, pharmaceutical and information technology were considered for the study. The study also analyzes the factors affecting investor perception towards investment in an IPO. The study considered the IPOs issued during the pandemic, and their performance on the listing day was measured by considering issue price, listing price and closing price. It was observed that 90% of the IPOs selected performed well during the listing day and 10% underperformed. It was also found that factors like company brand, company sector, fundamental analysis, company ratings, expert opinion and stock market conditions had a positive impact on the investors' decision to invest in an IPO. The study also revealed that factors like risk factor in primary market, returns on IPO on the listing day and Gray Market Premium have no significant impact on the investors' perception.

Sovereign Debt Crisis in Sri Lanka and Bangladesh: A Comparative Study

Using IMF's World Economic Outlook (WEO) data for the macroeconomic variables, this study comparatively examines the sovereign debt crises in Sri Lanka and Bangladesh. It identifies different macroeconomic factors related to the sovereign debt crisis, investigates their interrelations, and explores if their debt crises are similar. It shows that the general revenue to Gross Domestic Product (GDP) ratios of Sri Lanka degraded to converge with the upgrading status of Bangladesh during the Covid-19 period. Since 2010, Sri Lanka has maintained a well-off economic status with per capita GDP, while Bangladesh has a long way to go yet. The general expenses to GDP ratio of Sri Lanka shows stresses on its GDP, while that of Bangladesh is more relaxed. Sri Lanka has overstressed debt to GDP ratio along with Balance of Payments (BOP) deficits, while Bangladesh has continued traces of managed debt to GDP ratio along with BOP surpluses. Bangladesh has taken enough precautions in their sovereign debt management, compared to Sri Lanka. Even in 2020, Bangladesh maintained progressive investment track over the threshold limit of 30%, while Sri Lanka fell into a debt trap. Following the pandemic, Bangladesh has enjoyed a gross national savings to GDP ratio of above the threshold of 25%, while Sri Lanka is going through a critical phase. It shows governance myopia of Bangladesh regarding its imbalanced current account positions, while governance myopia of Sri Lanka exists with reference to its imbalanced current account positions, adverse gross debts, and government borrowing as well.

Digital Banking through the Uncertain COVID Period: A Panel Data Study

This research investigates how the uncertainty caused by the COVID-19 pandemic has affected digital banking usage in India. The study is made by utilizing a panel of data consisting of 108 firm-month observations during covid period from 2020 to 2022, with data mainly collected to analyze the impact of COVID-19 uncertainty. Most of the determinants were collected from the RBI data website. The main emphasis of this study is on the utilization of digital banking services in the context of the pandemic, and the research assesses the factors that have influenced this trend, including the number of physical bank branches, the utilization of debit and credit cards at automated teller machines (ATMs) and points of sale (PoS), as well as the level of economic policy uncertainty (EPU). The analysis was conducted using panel regression analysis, a suitable method for handling the error components in the model that are either fixed or random. The findings indicate that the uncertainty caused by the pandemic has had a negative impact on the use of digital banking services. Additionally, the study highlights that the usage of debit and credit cards at PoS has significantly contributed to promoting the progress of digital banking services during the pandemic. Overall, this study provides valuable insights into how digital banking services have evolved during a period of significant uncertainty and disruption. © 2023 by the authors.

A study of Indian Gen X and Millennials consumers' intention to use FinTech payment services during COVID-19 pandemic

PurposeAmid the COVID-19 contamination, people are bound to use contactless FinTech payment services. Because of restrictions on physical movement and avoidance of touching physical money, people willingly choose mobile payment, resulting in enormous growth in FinTech payment service industries. Because of this, this study aims to examine the effect of factors affecting Gen X and Millennials users to use FinTech payment services.Design/methodology/approachThe authors used 328 responses collected through convenience sampling of Indian users aged between 26 and 57 years in the Delhi-NCR region who are users of FinTech payment services.FindingsThe authors' findings verified that in India, perceived COVID-19 risk, perceived severity for COVID, individual mobility, subjective norms, perceived ease of use and perceived usefulness have statistically significant impacts on FinTech payment services during the COVID-19 pandemic. Structural equation modelling was used to study the proposed research model. Overall, the model predicted 76.9 % of the variation in intention to use FinTech payment services by the abovesaid variables by Indian users during a pandemic.Practical implicationsThis study will provide valuable insight to all FinTech service providers and stakeholders in planning and designing the concerned policy. It will be able to draw the attention of users more.Originality/valueThis research added a valuable theory to the existing technology adoption model (TAM) theory. It demonstrated the utility of the above variables in adopting and using FinTech payment services, which will help service providers to develop future strategies because of the COVID-19 pandemic.

Effect of Remittance Inflows on External Debt in Developing Countries

This paper analyzes the effect of remittance inflows on external debt in developing countries, by identifying international reserves as a potential transmission channel. Using panel data over the period 1970–2017 and covering 50 low-and middle-income countries worldwide, we find a positive and significant effect of remittance inflows on the external debt-to-GDP ratio. We also find a negative and significant effect of international reserves on external debt. After controlling for international reserves, the effect of remittance inflows on external debt increases;it remains positive and significant. The results suggest that the role of international reserves as a self-insurance mechanism, and the Dutch disease effect related to remittance inflows are at play. In addition, we find negative and significant effects of economic growth and savings-investment gap on external debt. We also find positive and significant effects of the nominal exchange rate and the United States lending interest rate on external debt. We discuss the policy implications of these findings, while highlighting factors that policymakers should focus on for containing external debt in developing countries in the post-COVID-19.

Role of banking sector in green economic growth: empirical evidence from South Asian economies

The COVID-19 pandemic has slowed progress to the achievement of net-zero and sustainability goals. In particular, emerging economies may benefit greatly from the cooperation of banking institutions in promoting green recovery. This study focusses on banking institutions in South Asian countries that boost the intermediary financial spread, according to a thorough sample of banks from 2011 to 2021. The analysis employs the data envelopment analysis method, and the results are robust. In addition to these characteristics, we also consider aspects such as urbanisation, industrialisation, and population expansion. Banks may play a significant role in facilitating the realisation of environmental targets because of the clear advantages of the results, which provide comfort for green recovery. As green financing may lead to more efficient and robust financial systems, the results provide strong evidence for policymakers, financial institutions, and the financial sector.

E-Service Bank: A Study on the Quality of Digital Banking Service during the Covid-19 Pandemic

Objective: This research aims to analyze the perception of quality in e-banking services. For this, a theoretical model was proposed using adapted and validated constructs of the quality of e-banking services, based on the set of three variables: security, ease of use and efficiency.Method/approach: Cross-sectional descriptive quantitative research, through the collection of primary data via google forms. The questionnaire obtained the amount of 367 answers, of which 348 were valid. Statistical techniques were used for data analysis and the results revealed that security, ease of use and efficiency have a positive effect on the quality of the e-service. In addition, the innovation variable was tested and found that it influences the quality and satisfaction of e-banking services.Main Results: The results reveal that the constructs positively influence the quality of the e -service and reinforce the importance of innovation in online banking services, which allow the customer more agility, efficiency and security in banking transactions. Theoretical/practical/social contributions: As a theoretical contribution, this work tested the ServQual scale in the e-service adapted for the Brazilian market. Regarding managerial practices, this research will contribute to banks that use e-banking services, since they build their strategies based on the digital service. Originality/relevance: The present study innovates in testing the ServQual scale in the e -service adapted for the Brazilian market. As well as in carrying out the analysis, the insertion of innovation as a moderator in the perception of quality and satisfaction in the digital banking service.

Trade-based money laundering and informal remittance services: implications on the sustainability of the balance of payments of a small open economy

PurposeThis study aims to discuss the consequences of trade-based money laundering (TBML) and informal remittance services on the sustainability of the position of balance of payments and net foreign assets of a small open economy.Design/methodology/approachThis paper uses a case study design using facts related to TBML and informal remittance services on the balance of payment and net foreign assets of Sri Lanka.FindingsThe contextual analysis reveals that the growth of the informal economy promotes informal remittance services in Sri Lanka. The policy decision to peg local currency to US dollars as a result of a shortage of foreign exchange had forced people to use informal channels for different purposes. The unclear and vague customer due diligence process of the anti-money laundering and countering the financing of terrorism (AML/CFT) regime also has forced people to use informal remittance services. Criminals especially drug traffickers have grabbed the promoted informal remittance services to transfer proceeds from Sri Lanka to overseas drug suppliers. On the other hand, systematic deficiencies in monitoring and regulation of movement of fund transfers and merchandise across borders provide opportunities for criminals to use different TBML techniques to transfer funds. These limitations force policymakers and regulators to think of developing a comprehensive payment ecosystem to prevent money laundering and terrorist financing. Therefore, the global initiative is required to move towards a payment ecosystem from a recommendation-based AML/CFT regime to reduce global crimes.Research limitations/implicationsThis study was designed to discuss the implications of TBML and informal remittance services on the balance of payments and net foreign assets in a small open economy. The structure and size of the economy, the strength of the overall economy and the AML/CFT regime will play an important role in controlling criminal activities and combating money laundering of an economy;hence, the impact of TBML and informal remittance services will vary accordingly across the countriesOriginality/valueThis paper is an original work done by the authors, which discusses the implications of TBML and informal remittance services on the balance of payments and net foreign assets of an emerging market context.

Opening industry data: The private sector's role in addressing societal challenges

This commentary explores the potential of private companies to advance scientific progress and solve social challenges through opening and sharing their data. Open data can accelerate scientific discoveries, foster collaboration, and promote long-term business success. However, concerns regarding data privacy and security can hinder data sharing. Companies have options to mitigate the challenges through developing data governance mechanisms, collaborating with stakeholders, communicating the benefits, and creating incentives for data sharing, among others. Ultimately, open data has immense potential to drive positive social impact and business value, and companies can explore solutions for their specific circumstances and tailor them to their specific needs.

Covid-19 and the decolonisation of education in Palestinian universities

Despite the severe social, health, political and economic impacts of the outbreak of Covid-19 on Palestinians, we contend that one positive aspect of this pandemic is that it has revealed the perils and shortcomings of the teacher-centered, traditional education which colonizes students' minds, compromises their analytical abilities and, paradoxically, places them in a system of oppression which audits their ideas, limits their freedoms, and curtails their creativity. While Israeli occupation has proven to be an obstacle in the face of the Palestinian government's attempt to combat and contain the Corona crisis, on-line education, the sole arena that escapes this colonial system, has forced many instructors to give up their domination over the process of education and to create a more collaborative atmosphere of education that is based on dialogue, research and flexibility of the curriculum content. This study is designed to gauge English literature students' responses to this mode of digital learning. We interviewed a hundred students from six English literature programs between March and August, 2020. Thus, through critically examining students' answers, and by drawing on Freire's concepts of banking education, consciousness and dialogue, we propose that online education is an important step towards the decolonization of education and a call for a paradigm shift on the account that the existing paradigm of traditional education is stifling students' creativity and critical thinking.

Effects of pandemic on different industries

As per World Health Organization (WHO), the Corona virus Covid-19 is a pandemic disease. This virus transmits from one person to another. It has affected the whole world economy and health. It has affected not only the developing countries but also developed countries. Rural areas, as well as urban areas, have been affected by this virus. Every part of the world is affected by this disease. This decease affects to the all aged group human beings. In this pandemic situation, the government of India and many other countries have decided to lockdown. Due to this lockdown period, many industries are getting shut down. Manufacturers and industrialists have faced various problems. In this manuscript, different industry sectors have been taken for the study and focused on the challenges they have faced and the positive and negative impacts of lockdown in India. The effects of pandemics on industries for different aspects are discussed in this manuscript. © 2023 Author(s).

Freire 2.0: Pedagogy of the digitally oppressed

This paper reinvents Freire's concepts of ‘banking education' and ‘literacy' within the context of the exponential growth of digital instruction in the 21st century. We argue that digital learning (i.e. online or technology enhanced) undoubtedly increases access to education globally, but also can intensify some of the worst problems described in Freire's banking model. Accordingly, we draw from postdigital theory to scrutinize the specific structures and functions of common digital Learning Management Systems (LMSs) used by schools (i.e. Blackboard and Google Classroom) to reveal a type of learning that further exacerbates the teacher-student dichotomy without liberating either party in a Freirean sense. We then use a Foucauldian lens to bring an awareness to how the accelerated use of these systems at scale, in part caused by the COVID-19 pandemic, can further entrench a data-driven, dehumanized educational experience which increases corporate profitability perhaps over the needs of students. Finally, we use these insights to modernize Freire's concept of ‘literacy' by building on Critical Medial Literacy (CML) in order to help educators address LMSs, (mis)information facilitated by digital content, and schooling in a (post)pandemic and postdigital world.

Two Major Economic Crises in the Early Twenty-First Century and their Impact on Central Bank Independence

Two major economic crises in the early twenty-first century have had a serious impact on monetary policy and CB independence. Disruption in financial intermediation and associated deflationary pressures caused by the global financial crisis of 2007–2009 and European financial crisis of 2010–2015 pushed central banks (CBs) in major currency areas towards adoption of unconventional monetary policy measures, including large-scale purchase of government bonds (quantitative easing). The same approach has been taken by CBs in response to the COVID-19 crisis in 2020 even if the characteristics of this crisis differ from the previous one. As a result of both crises, CBs have become major holders of government bonds and de facto – main creditors of governments. Against rapidly deteriorating fiscal balances, CBs have become hostages of fiscal policies, which compromises their independence. Risks to the CB independence also come from their additional mandates (beyond price stability) and populist political pressures.

O desempenho das empresas brasileiras com melhor atuação socioambiental na crise da COVID-19

Resumo Esta pesquisa analisa se empresas com melhores práticas socioambientais (ES) apresentam melhor desempenho que as demais empresas em momentos de crise. Utilizamos o choque exógeno causado pela pandemia da COVID-19 como estratégia de identificação. A amostra consiste de empresas brasileiras de capital aberto negociadas na B3, a bolsa brasileira. Os resultados mostram que firmas com maiores notas ES tiveram, durante o primeiro semestre de 2020, retornos anormais significativamente mais altos, menores volatilidades e melhores desempenhos operacionais medidos pelo ROA, margem operacional e giro de ativo. Nossos resultados contribuem para a literatura ao mostrarem que o investimento em boas práticas socioambientais desempenham um papel positivo nas empresas brasileiras, especialmente em períodos de crise.Alternate :This study investigates whether companies with superior environmental and social practices (ES) perform better than other companies in times of crisis. We use the exogenous shock caused by the COVID-19 pandemic as an identification strategy. The sample consists of Brazilian companies publicly traded on B3, the Brazilian stock exchange. Results show that, during the first semester of 2020, firms with higher ES scores had significantly higher abnormal returns, lower volatility, and better operating performance as measured by ROA, operational margin, and asset turnover. We show that investment in good environmental and social practices can benefit Brazilian companies in times of crisis.

Social Media Content Compilation of Online Banking Scams in the Philippines: A Literature Review

Online banking has been proven to be an effective and convenient way of providing banking services anywhere and has been a necessity since the COVID-19 pandemic has affected the Philippines. Alongside this fact, people have been victims of scams involving these online services. Therefore, this paper aimed to analyze reports of online banking scams reported on social media using content analysis. The 26 filtered posts are labeled with 27 codes generated, and the top six were discussed. Specifically, scam (88.46%) was the most common code, followed by phone calls (57.69%) and impersonation (53.84%). Benefits, verifying personal information, and social engineering all had 46.15% occurrences. It is recommended for potential online banking scams to verify with the bank before giving away information, and to raise awareness on the possible technique's scammers use. © 2023 ACM.

Role of multimedia innovative technology in green banking

Purpose: Progression is an unpreventable reality of presence, and banking is no exclusion. Cash transformers and moneylenders from times gone past are great agents today. Cash held in trust became store taking, and money advancing became credit making;over an extended time, banks transformed into a need, and the occupation of banks, transformed into a critical piece of monetary reality. Banks' turn of events and headway has been mind-boggling, with the latest frenzy being intuitive media banking. The chapter additionally framed the amazing open doors and dangers for banks because of the presentation of innovations and how banks are making the most of the open doors and endeavouring to cure the risks. The financial area in India is a lifesaver for the country. Indian banks could become the fifth most prominent on earth by 2020 and the third most prominent by 2025. Methodology: This study has given auxiliary information. Furthermore, it's gathered from the holding bank of India concerning utilisation by various banks. Which utilised graphic review including mean mode middle. Finding: After the review, we find that sight, sound, and green banking have become fantastic assets for the baking area. During COVID-19, the utilisation of mixed media expanded in contrast to a year ago. Significance: The review featured sight and sound and green banking sealed spine in COVID -19 and is utilised expanded after this pandemic. © 2023 by Seval Kardes Selimoglu and Mustafa Hakan Saldi. All rights reserved.

Customers' Acceptance of E-banking During the COVID-19 Pandemic: The Case of Oman

The Omani banking industry still lags behind in keeping up with the full adoption of e-banking technologies in delivering its services. Nevertheless, this might have changed to some extent with the spread of the Corona Virus (COVID-19) which forced financial institutions around the world to temporary close most of their branches and operate mostly on an online basis. The purpose of the study is to investigate customers' perception of E-Banking Adoption in the Omani context during the COVID-19 pandemic. Specifically, the focus is on determining the aspects that would potentially increase the acceptance and usage of E-banking services from the customer's perspective. A questionnaire was developed with the purpose of collecting data from total sample of 200 banks' customers in Oman. In terms of data analysis, linear regression and t-tests were used. The results indicated that bank customers in Oman have a high willingness to use E-banking services. On the other hand, the findings revealed that perceived ease of use, uncertainty, facilitating conditions and self-efficacy has a significant effect on E-banking adoption and hence are have the potential to increase the adoption of E-banking services in Oman. The study contributes significantly to the behavioural and innovation adoption theories. In addition, it contributes in developing policies and setting improvement measures in the banking industry. © The Editor(s) (if applicable) and The Author(s), under exclusive license to Springer Nature Singapore Pte Ltd. 2022.

Virtual healthcare: How startups in the digital medical industry are gaining advantage

PurposeThis paper aims to review the latest management developments across the globe and pinpoint practical implications from cutting-edge research and case studies.Design/methodology/approachThis briefing is prepared by an independent writer who adds their own impartial comments and places the articles in context.FindingsVirtual medical specialists are becoming more common in for-profit healthcare systems, utilizing platforms developed by startup ventures, and cutting costs in the process for both providers and consumers.Originality/valueThe briefing saves busy executives, strategists and researchers hours of reading time by selecting only the very best, most pertinent information and presenting it in a condensed and easy-to-digest format.