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January 2024VOL 59NO. 01Pages 124100Banking IN INDIA EMERGING CHALLENGES AND PREPAREDNESS OF THIS SECTORJournal the INSTITUTE OF COST ACCOUNTANTS OF INDIA (Statutory Body under an Act of Parliament)www.icmai.inEnlisted
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The future of banking refers to the evolution and transformation of banking services driven by digital innovation, changing consumer expectations, regulatory developments, and the integration of advanced technologies such as artificial intelligence, blockchain, and open banking platforms.
Individuals and organizations that engage in banking activities or require banking services are typically required to file information regarding the future of banking, including banks, financial institutions, and relevant stakeholders in the financial sector.
To fill out the future of banking form, individuals or organizations should gather the necessary information regarding their banking activities, technologies adopted, regulatory compliance, and market trends, and then complete the relevant sections of the form accurately before submission.
The purpose of the future of banking report is to assess and analyze the trends, challenges, and opportunities in the banking sector, ensuring stakeholders understand the potential impacts on financial services and prepare for upcoming changes.
Information that must be reported includes a summary of banking innovations, technological advancements, consumer behavior trends, regulatory changes, and the competitive landscape of the banking industry.
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