Smart Banking Solutions for Modern Society: Opportunities and Challenges

Abstract

. The evolution of smart banking solutions stands as a pivotal advancement in modern society, promising unparalleled convenience, accessibility, and efficiency in financial services. This paper investigates the multifaceted landscape of smart banking, dissecting both its opportunities and challenges within the context of contemporary society. Smart banking solutions epitomize the fusion of technology and finance, leveraging innovations such as artificial intelligence, data analytics, biometrics, and mobile platforms to reshape the banking experience. From personalized financial insights to frictionless transactions, these solutions offer consumers unprecedented control over their finances while empowering banks to deliver tailored services and optimize operational processes. However, the journey towards smart banking is fraught with challenges that demand careful navigation. Security concerns loom large, as the digitization of financial transactions opens new avenues for cyber threats and data breaches.