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

2020

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.

Paper Citation

in Harvard Style

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

in Bibtex Style

@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},
}

in EndNote Style

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