A review paper on the application of big data by banking institutions and related ethical issues and responses

Victor Chang, Lina Xiao, Qianwen Xu, Mitra Arami

Research output: Chapter in Book/Report/Conference proceedingConference contribution

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Abstract

Nowadays, Big Data and the Internet of Things (IoT) are one of the most popular topics. This review paper demonstrates an overview of the application of Big Data and IoT in banking institutions. In the beginning, a brief definition of Big data and IoT is provided and the integration of technologies by banks is illustrated. Then, this paper explains the potential sources where banks could generate Big Data. Next, the major works that banking institutions use Big Data are listed. In the final two parts, some acute ethical concerns are raised and appropriate solutions are suggested for the banking industry and other organizations.

Original languageEnglish
Title of host publicationFEMIB 2020 - Proceedings of the 2nd International Conference on Finance, Economics, Management and IT Business
EditorsPatricia Baudier, Mitra Arami, Victor Chang
PublisherSciTePress
Pages115-121
Number of pages7
ISBN (Electronic)9789897584220
Publication statusPublished - 5 May 2020
Event2nd International Conference on Finance, Economics, Management and IT Business - Virtual, Online
Duration: 5 May 20206 May 2020

Publication series

NameFEMIB 2020 - Proceedings of the 2nd International Conference on Finance, Economics, Management and IT Business

Conference

Conference2nd International Conference on Finance, Economics, Management and IT Business
Abbreviated titleFEMIB 2020
CityVirtual, Online
Period5/05/206/05/20

Bibliographical note

Publisher Copyright:
Copyright © 2020 by SCITEPRESS - Science and Technology Publications, Lda. All rights reserved.

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