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What is Non-Conventional Players

Chapter 5
Handbook of Research on Disruptive Innovation and Digital Transformation in Asia
These players are the ones who have not been a part of the traditional financial service industry. They are the ones who have brought multiple innovations to the financial service industry and include services like robo-advisory, crowdfunding platforms, mobile and digital wallets, etc.
Published in Chapter:
Banking and Financial Services Industry in the Wake of Industrial Revolution 4.0: Challenges Ahead
Vibha Bhandari (College of Applied Sciences, University of Technology and Applied Sciences, Nizwa, Oman)
Copyright: © 2021 |Pages: 12
DOI: 10.4018/978-1-7998-6477-6.ch005
Abstract
The banking and financial services industry today stands at the crossroads between the traditional methods of business and the evolving modern methods of banking and providing financial services. Technological advancement in the field of finance has led to a whole new form of doing business which is a radical departure from the conventional methods of doing business. The players in the field of banking and finance are facing challenges and competition from entities which never existed in the traditional sphere. The banking and financial industry is not only facing stiff competition from these new age players; it is also facing challenges to find fresh talent who can tide off this industry. This chapter in its existing form shall present an overview of the banking and financial industry of today in the wake of Industrial Revolution 4.0 and identify some associated challenges.
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