Dear Ouahiba Meddas,

The SARS-CoV-2 (Covid-19) coronavirus pandemic has accelerated the development of online electronic banking, including mobile banking. In this way, banks reduce operating costs and increase the profitability of customer service operations. On the other hand, customers choose Internet banking because of its convenience and lower banking fees. Therefore, when the SARS-CoV-2 (Covid-19) coronavirus pandemic expires, the current trends in the development of online electronic banking, including mobile banking, will be maintained. As for many banks the scale of electronic internet and mobile banking is gradually increasing compared to traditional fixed-line banking, banks spend an increasing part of their development funds on the implementation of modern ICT, internet and Industry 4.0 information technologies into electronic internet banking systems and platforms, and improvement of cybercrime risk management systems, improving cybersecurity systems for online transactions.

Best regards,

Dariusz Prokopowicz

Dear Ouahiba Meddas,

The SARS-CoV-2 (Covid-19) coronavirus pandemic has accelerated the development of online electronic banking, including mobile banking. In this way, banks reduce operating costs and increase the profitability of customer service operations. On the other hand, customers choose Internet banking because of its convenience and lower banking fees. Therefore, when the SARS-CoV-2 (Covid-19) coronavirus pandemic expires, the current trends in the development of online electronic banking, including mobile banking, will be maintained. As for many banks the scale of electronic internet and mobile banking is gradually increasing compared to traditional fixed-line banking, banks spend an increasing part of their development funds on the implementation of modern ICT, internet and Industry 4.0 information technologies into electronic internet banking systems and platforms, and improvement of cybercrime risk management systems, improving cybersecurity systems for online transactions.

Best regards,

Dariusz Prokopowicz

أن العديد من المصارف والبنوك المركزية حول العالم أصبحت تتبنى أحدث الابتكارات في عالم التكنولوجيا المالية وتدعم الشركات الناشئة في هذا المجال، وذلك على الرغم من أن مفهوم التكنولوجيا المالية «الفينتك» لايزال مفهوما جديدا على الأسواق، مشيرا إلى أن قطر تمتلك جميع الإمكانات لتخوض غمار هذا السباق والمنافسة على موقع الصدارة في ظل امتلاكها لمؤهلات التحول لمركز إقليمي للتكنولوجيا المالية.

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I think that the problem does not lie in the mechanism of the banking system, what is the benefit of the banking system in light of declining economic activity, so everyone should think about how to get the global economy out of this problem. And I think that the first solution is to build a new monetary system that guarantees the rights of all the conflicting parties, and we are on the threshold of this system, which will necessitate the building of a new bank, perhaps in the form of an international banking association that grants membership to each country according to its contribution to the volume of international trade.

Esta es la verdadera revolución digital y de servicios que viene en la era postcovid-19

n the period of the Corona 19 pandemic, I believe that banks should convert most of the operations to electronic operations, but the difficulty will be in applying electronic operations standards in developing countries, which lack financial resources, technical capabilities and qualified personnel to move to the application of electronic operationsز

You are taking the short view - there is a new flu virus every 18 months or so. When doing research, consider the 1,000 year perspective, if you would like your work to remain relevant. There is always room in a peer-reviewed journal for a piece detailing how Central Banks regulate the economy and the meaningful frictions of financial intermediaries and the contributions of those institutions to the macro economy.

Banking is an information business, first and foremost. Digital communications and funds transfer has been prevalent for decades. What is new is the advent of the neobanks, fintechs and those entities that are not subject nor desire to be part of the historical banking infrastructure. Your questions about marketing should not focus on advancing from a bank perspective, rather from an e-commerce and digital perspective. I have gone on record stating that in 5 years, the biggest financial services providers will not be the banks but big tech, the FAANGs, as they have a growing digital relationship with their clients, are able to apply AI and ML for further client engagement, have demonstrated feedback loops to understand past, present and future client needs. It will be easy for them to add financial services into their mix, for example Amazon, who knows what you buy, why you buy, how frequently you buy, and thus being able to layout a customer life cycle to anticipate needs. The banks are not there yet, and will likely stumble. So from a marketing perspective, I would follow the top e-commerce strategies of anything but banks. Lastly, companies like the FAANGs have built considerable databases with provide for descriptive, predictive and prescriptive analyses and initiatives. Again, banks need to follow suit.

Anything with advantages also have merits and vice versa. Covid 19 has it's good side in the sense that lock downs and restrictions on movements have forced the banking publc to adapt to electronic banking. Banks can leverage on that by tilting their marketing strategies along that line. Long after the demise of Covid 19 interest in electronic banking will still continue to grow. The new normal is here to stay.