The Struggle of Traditional Banking System in a New Era of Artificial Intelligence

Carmen Ghelase, Mihaela Neculita and Arabela Ichim
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Carmen Ghelase: Dunarea de Jos University of Galati, Romania
Mihaela Neculita: Dunarea de Jos University of Galati, Romania
Arabela Ichim: Dunarea de Jos University of Galati, Romania

Economics and Applied Informatics, 2023, issue 1, 139-143

Abstract: In a new era of artificial intelligence, taking into account a new behavior of the customers oriented to offline, the traditional banking system struggle with these challenges and has to update their regulatory frame and use digital technologies. The various forms of collaborations between banks and robo-advisers or fintech became a study of research. This article pointed out the benefits and the disadvantages of the traditional banking in comparison with the alternatives and concluded with the best combination on financial planning.

Keywords: traditional banking; digitization; artificial intelligence; FinTech; business model of banking (search for similar items in EconPapers)
Date: 2023
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Persistent link: https://EconPapers.repec.org/RePEc:ddj:fseeai:y:2023:i:1:p:139-143

DOI: 10.35219/eai15840409329

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