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

Amir Mehdiabadi, Mariyeh Tabatabeinasab, Cristi Spulbar (), Amir Karbassi Yazdi and Ramona Birau
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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
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

IJFS, 2020, vol. 8, issue 2, 1-29

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.

Keywords: technology; banking 4.0; industry 4.0; roadmap; digitalization; big data (search for similar items in EconPapers)
JEL-codes: F2 F3 F41 F42 G1 G2 G3 (search for similar items in EconPapers)
Date: 2020
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (12)

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