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Description. A digital bank represents a virtual process that includes online banking, mobile banking, and beyond. As an end-to-end platform, digital banking must encompass the front end that consumers see, the back end that bankers see through their servers and admin control panels, and the middleware that connects these nodes.
A central bank digital currency (CBDC; also called digital fiat currency[ 1 ] or digital base money[ 2 ]) is a digital currency issued by a central bank, [ 3 ] rather than by a commercial bank. It is also a liability of the central bank and denominated in the sovereign currency, [ 4 ] as is the case with physical banknotes and coins. The two ...
Digital currency. Digital currency (digital money, electronic money or electronic currency) is any currency, money, or money-like asset that is primarily managed, stored or exchanged on digital computer systems, especially over the internet. Types of digital currencies include cryptocurrency, virtual currency and central bank digital currency.
According to the definition provided by Karen Mossberger, one of the authors of Digital Citizenship: The Internet, Society, and Participation, [1] digital citizens are "those who use the internet regularly and effectively." In this sense, a digital citizen is a person using information technology (IT) in order to engage in society, politics ...
v. t. e. Online banking, also known as internet banking, virtual banking, web banking or home banking, is a system that enables customers of a bank or other financial institution to conduct a range of financial transactions through the financial institution's website or mobile app. Since the early 2000s this has become the most common way that ...
Fintech, a portmanteau of "financial technology", refers to the application of innovative technologies to products and services in the financial industry.This broad term encompasses a wide array of technological advancements in financial services, including mobile banking, online lending platforms, digital payment systems, robo-advisors, and blockchain-based applications such as ...
Open banking. In financial services, open banking allows for financial data to be shared between banks and third-party service providers through the use of application programming interfaces (APIs). Traditionally, banks have kept customer financial data within their own closed systems. Open banking allows customers to share their financial ...
Digital renminbi (Chinese: 数字人民币; also abbreviated as digital RMB and e-CNY), [1] or Digital Currency Electronic Payment (DCEP, Chinese: 数字货币电子支付; pinyin: Shùzì huòbì diànzǐ zhīfù), is a central bank digital currency issued by China's central bank, the People's Bank of China. [2]