The evolution of e-banking, its security, and its impact on the modern financial system
The evolution of e-banking, its security, and its impact on the modern financial system

Summary/Abstract: The digital transformation of the banking sector has led to the accelerated development of e-banking services, redefining the way consumers and financial institutions interact. The evolution of e-banking has been driven by technological advances, increased use of the internet and mobile devices, and growing demands for efficiency and accessibility in financial services. This study analyzes the main stages of e-banking development, highlighting emerging trends and factors that have influenced its adoption on a global scale. An essential aspect of e-banking is security, as increasing dependence on digital technologies exposes the financial system to significant cyber risks. In this context, the security measures implemented by financial institutions, such as multi-factor authentication, data encryption, and the use of artificial intelligence in fraud detection, are discussed. The legislative challenges and regulations imposed by authorities to ensure a secure and stable framework for the use of digital banking services are also analyzed. The objective is to examine the impact of e-banking on the modern financial system, highlighting the benefits for banks and customers, such as reduced operating costs, increased financial inclusion, and improved user experience. At the same time, the economic implications of banking digitization are discussed, including changes in the business model of banks and possible systemic risks. Through this analysis, the study provides a comprehensive overview of the evolution of e-banking, highlighting the challenges and opportunities that digitization brings to the financial sector.

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