Improving payment services practices in commercial banks: strategies for efficiency and security.
DOI:
https://doi.org/10.5281/zenodo.15199509Keywords:
Payment services, commercial banks, digital transformation, security, customer experience, automation, artificial intelligence, blockchain, regulatory compliance, innovationAbstract
The landscape of payment services in commercial banks is undergoing a profound transformation due to the
rise of digital technologies, heightened security concerns, and evolving customer expectations. This article explores
strategies to improve payment service practices within commercial banks, emphasizing digital transformation, security
enhancements, customer experience, regulatory compliance, and innovation. Through a qualitative review of industry
trends, best practices, and case studies, this paper presents key recommendations for banks to optimize their payment
services, streamline operations, and meet regulatory requirements. The findings suggest that the integration of advanced
technologies such as automation, AI, blockchain, and machine learning will significantly improve the efficiency and
security of payment services. The study also highlights the importance of customer-centric approaches and regulatory
compliance in fostering trust and satisfaction among consumers.
References
Gomber, P., Koch, J., & Siering, M. (2017). Digital Finance and FinTech: Current Research and Future Research
Directions. Journal of Business Economics, 87(5), 537–580.
Rochet, J.-C., & Tirole, J. (2002). Cooperation among Competitors: Some Economics of Payment Card Associations.
The RAND Journal of Economics, 33(4), 549–570.
Gai, K., Qiu, M., & Sun, X. (2018). A Survey on FinTech. Journal of Network and Computer Applications, 103, 262–273.
Claessens, S., Dobos, G., Klingebiel, D., & Laeven, L. (2003). The Growing Importance of Networks in Finance and Its
Effects on Competition. The World Bank Policy Research Working Paper Series, No. 3059.
King, B. (2013). Bank 3.0: Why Banking Is No Longer Somewhere You Go, But Something You Do. Wiley.
Benabou, A., & Dunford, D. (2022). Digital payment trends and the future of commercial banking. Financial Innovations
Journal, 29(3), 47-63. https://doi.org/10.1007/s01322-022-0451-3
European Central Bank. (2023). Payment systems in the EU: Trends and developments. Retrieved from https://www.
ecb.europa.eu
Jain, P., & Tiwari, R. (2024). The role of blockchain in commercial banking payments: Opportunities and challenges.
Journal of Financial Technology, 12(1), 23-35. https://doi.org/10.1016/j.joftech.2024.01.004
Nakamura, H., & Tanaka, Y. (2021). Fraud detection in banking payments: Leveraging AI and machine learning. Journal
of Bank Security, 13(4), 102-115. https://doi.org/10.1016/j.jbanksec.2021.09.003
Payment Systems Forum. (2023). 2023 global payment systems report: Adoption of real-time payments and AI in
banking. Retrieved from https://www.paymentsystemsforum.com/reports/2023
Smith, L., & Richards, E. (2022). Regulatory compliance in the digital age: Challenges for commercial banks.
International Journal of Banking Law, 18(2), 66-79. https://doi.org/10.1016/j.ijbanklaw.2022.06.002
World Bank. (2022). Global financial development report: Payment systems and inclusion. Retrieved from https://www.
worldbank.org/en/publication/gfdr
Downloads
Published
Issue
Section
License
Copyright (c) 2025 YASHIL IQTISODIYOT VA TARAQQIYOT
This work is licensed under a Creative Commons Attribution 4.0 International License.