Forum Banking Technology Business المنتدى المصرفي لتكنولوجيا الأعمال

The use of automated systems in banking sector is essential in order to respond to change and contemporary development, especially after the signs of technological development began to reflect on a major part of the banking service, However, good humanitarian relations have become not enough for the customer to feel complete satisfaction, there are technical aspects of the performance of the service and the modern machine used by the bank gives a clear, sophisticated and modern picture of it, and Libyan commercial banks, like the advanced banks, had to respond to these developments Technology absorbs and adopts the appropriate automated systems.
In addition, Banking is an important economic activity in any country, and if we look at it as an economic activity, it has many characteristics, and the availability of these characteristics undoubtedly means that banking activity must keep pace with the requirements of development in all aspects of economic and social activity in any country regardless of the nature of its economic system or political philosophy.
One of the most important manifestations of progress in the provision of banking services is the significant expansion of the use of computer technologies in banking, which has led to rapid provision of services, reduced bureaucratic burdens and time savings for both customers and bank workers, which in turn has kept pace with the significant increase in the volume of financial transactions, and the possibility of the customer obtaining the required services in any branch of the bank designated in any area within the designated country without having to contact the branch that customer has opened an account in it, and the customer can know his balance, the total details of his withdrawals and dates, and get cash in one minute.

The gradual development and use of mobile devices has allowed banking services to be provided to bank customers, such as access to the balance, requesting a statement of account or cheque book, notifying the effects and results of a financial transaction or filling out loan application data from the bank. These services are commonly known as mobile banking services and mean the use of a mobile phone as a channel for transactions with the customer’s bank, and the provision of these mobile banking services requires first that the mobile phone user be a “customer” who meets all banking requirements and controls, specifically Know your Customer (KYC) and then connects the customer to the services available through the mobile phone.
Other services that are the theme and area of this event include the use of a mobile phone to store or retain small financial values and transfer them to others to meet daily financial requirements, known as mobile payments as well as mobile wallet. This service and various application models have spread in the world, especially developing countries with modest infrastructure that has had a direct or indirect impact on the automatic spread of banks and their branches. The proliferation of this service has contributed to the provision of basic financial services to many individuals who have had no contact with the banking sector or have not been covered by banking services, causing side effects such as :
1- The boundaries between the banking world and the world of mobile companies overlap.
2- The ability and entitlement of others to provide banking services on behalf of banks.

This is the process of abolishing the human being both or partly in banking services and replacing the computer device and its accessories and networks in the execution of all frequent banking services and making them easier and more accessible to customers such as atm, The word “orphan” has been used since the mid-1930s in the 1930s and reflects all the processes that man has been able to use the machines to do it instead, and banking services are the processes based on automated displacement. Or are the processes that are controlled by computers and their accessories and networks work net in follow-up, monitoring, decision-making and completion of routine banking services such as ATM, mobile bank, internet banking and others.
In the middle of the last century, interest in the development of techniques of electronic devices, computers, networks, and software began to be the beginning of slow and effective steps, but the innate curiosity of man made him a good consumer of these techniques, which had a profound effect on The producers of these technologies are encouraged to work rapidly, develop and upgrade them to become more flexible in their use and include in their application many fields, and starting from that, the current era has been called the age of information technology, because the technical media has become an urgent need For the needs of individuals in light of the tremendous development that the world has witnessed in the field of automated banking services, banks had to accelerate to take their role to keep up with this wide and rapid development, amazing, the founders, networks and software felt ware soft to keep up with the development And modernity, and at the same time, technology companies found that the world of banks has been fertile ground for fulfilling their ambitions to spread, expand and promote part of their products of software and electronic devices, so they went towards designing programs dedicated to banks, which achieve different advantages of speed in the completion of banking operations, and the challenge of banking buildings and information between banks and between banks and customers and by best terms.

• Artificial Intelligence:
The ability of any machine to imitate human behavior in a graceful or intelligent way is indicated by artificial intelligence. They are often classified into two types: applied artificial intelligence and general artificial intelligence. Applied artificial intelligence is more human-like and is expected to have properties similar to those of humans. It can be understood as a smart and intuitive system that meets specific needs or demands. On the contrary, general artificial intelligence shows some powerful and powerful aspects of human intelligence, making it eligible to perform human tasks.

• Internet of Things:
In simple language, the IoT concept deals with connecting any device to a turn-on and off switch on the web (they can also be connected), and these devices referred to can consist of everything from mobile phones, coffee machines, automatic washing machines, headphones, lamps, wearables and anything else you might think of. The Internet of Things is a huge network that connects “things” (which may also include humans) and this connection between man-human, human objects, along with the object-body is likely.

• Machine Learning:
Machine learning can be understood as a subset of artificial intelligence. It is the technology behind ai’s capabilities in carrying out the most famous tasks such as natural language processing (NLP), image recognition and many more. This technique is the practice of using unique algorithms to solve and sort data, and its mission is not only to analyze data, but also to learn more about the type of data as it is sorted, and then come up with a prediction or suggestion about what data it was

Blockchain:
Blockchain technology is a continuous series of blocks built in accordance with applicable rules, custom information, as a transaction record, financial or data transfers and a permanent distributed database that can be programmed not only to record financial transactions such as cryptocurrencies, but almost blocking technology can be exploited for multiple uses, such as trade, health, money, health care for credibility and high reliability in data. The base itself consists of many blocks that store an encrypted number, and connected elements that turn these blocks into a single string. Hence the same name as “blockchain”.

Cryptocurrencies:
Cryptocurrency is digital money or, in other words, a means of paying for what can be bought, and now it is a store of value such as gold and silver but digitally in the world. Unlike national currencies issued by state banks, cryptocurrencies are only found on the “World Wide Web” and are never minted in the form of coins or printed in banknotes, but can be converted into local currencies through the services that support this.

Metavers:
This term describes virtual worlds that unite users with a variety of technologies, services and tools. Today, Metaverse is often referred to in the context of games such as Fortnite, Minecraft, Roblox as well, Metaverse is built in AR and VR developments in such a digital space, intertwining physical, augmented and virtual reality

The Libyan banking system, like other banking systems, faces many challenges as a result of financial openness and banking liberalization, which calls for the removal of all restrictions and barriers to banking activities, as well as the competition of foreign banks for local banks, which have intensified more in recent years, it was absolutely necessary dictated by banking variables to adopt appropriate strategies to meet these challenges in order to ensure their survival and growth in the banking market, perhaps one of the most important options that can be made to qualify The banking sector and keeping up with the developments of the banking industry, is to provide mandatory infrastructure to improve the various electronic services in Libyan banks, through the establishment of payment bodies and systems and the adoption of many electronic services, and in the framework of all this event aims to answer the following key question:
What is the reality of the electronic transaction infrastructure in Libyan banks, and what challenges do they face?

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