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Authors: Victor Chang 1 ; Lina Xiao 2 ; Qianwen Xu 2 and Mitra Arami 3

Affiliations: 1 School of Computing, Engineering and Digital Technologies, Teesside University, Middlesbrough, U.K. ; 2 IBSS, Xi’an Jiaotong-Liverpool University, Suzhou, China ; 3 PARDIS Ltd, London, U.K.

ISBN: 978-989-758-422-0

Keyword(s): Big Data, IoT, Banks, Ethical Issues of Big Data, Suggested Solutions.

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.

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Paper citation in several formats:
Chang, V.; Xiao, L.; Xu, Q. and Arami, M. (2020). A Review Paper on the Application of Big Data by Banking Institutions and Related Ethical Issues and Responses.In Proceedings of the 2nd International Conference on Finance, Economics, Management and IT Business - Volume 1: FEMIB, ISBN 978-989-758-422-0, pages 115-121. DOI: 10.5220/0009427701150121

@conference{femib20,
author={Victor Chang. and Lina Xiao. and Qianwen Xu. and Mitra Arami.},
title={A Review Paper on the Application of Big Data by Banking Institutions and Related Ethical Issues and Responses},
booktitle={Proceedings of the 2nd International Conference on Finance, Economics, Management and IT Business - Volume 1: FEMIB,},
year={2020},
pages={115-121},
publisher={SciTePress},
organization={INSTICC},
doi={10.5220/0009427701150121},
isbn={978-989-758-422-0},
}

TY - CONF

JO - Proceedings of the 2nd International Conference on Finance, Economics, Management and IT Business - Volume 1: FEMIB,
TI - A Review Paper on the Application of Big Data by Banking Institutions and Related Ethical Issues and Responses
SN - 978-989-758-422-0
AU - Chang, V.
AU - Xiao, L.
AU - Xu, Q.
AU - Arami, M.
PY - 2020
SP - 115
EP - 121
DO - 10.5220/0009427701150121

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