ARTICLE

BANKING
Diajukan untuk memenuhi tugas mata kuliah Bahasa Inggris Ekonomi 2

Dosen Pengampu : Enny Hardi, S.E., M.Si. Ak.

Disusun Oleh :

Kelompok 6
Dilla Saputri 1910313320016
Fatimah Azzahra 1910313120026
Salsabella 1910313220085
Yoananda Syarafina 1910313220028
Yunisa 1910313120042

PROGRAM STUDI S1 AKUNTANSI

FAKULTAS EKONOMI DAN BISNIS
UNIVERSITAS LAMBUNG MANGKURAT
BANJARMASIN
2020
 ARTICLE

Future of Retail Banking

Retail banking refers to the specific services banks can offer to consumers – such as savings and
checking accounts, credit and debit cards, and loans.  Consumers' growing desire to access
financial services from digital channels has led to a surge in new banking technologies that are
reconceptualizing the entire retail banking market. Technology geared toward improving retail
banks' operational efficiency is positively impacting the market. According to Business Insider
Intelligence, 39% of retail banking executives say that reducing costs is where technology has
the greatest impact, compared to only 24% who say  it's improving customer experience. Retail
banks are also launching platforms in the Banking-as-a-Service (BaaS) space to remain
competitive. For example, UK neobank Starling used to exclusively offer business-to-consumer
(B2C) retail banking services; but, after launching a BaaS platform, Starling diversified its
product and revenue streams, helping it remain relevant in the neobank space.

Future of Mobile Banking

Mobile banking has become the go-to method for users to make deposits, account transfers, and
monitor their spendings and earnings. According to Business Insider Intelligence's Mobile
Banking Competitive Edge Study, a massive 89% of survey respondents said they use mobile
banking. A top concern consumers have when choosing mobile banks is security. The fear of
data breach increases the demand for services that keep users' data secure – allowing consumers
to place holds on credit or debit cards, schedule travel alerts, and file and review card transaction
disputes are some successful security banking features. Mobile wallets are another up-and-
coming feature in mobile banking. Mobile wallets are applications that emphasize convenience;
they allow users to make purchases online or in-store with their smartphones – without ever
having to take out their physical credit card. Successful mobile banking options also include
money management features that help users cut spending and grow savings. The future of mobile
banking points toward offering savings tools and financial wellness scores, which is seen as
particularly important among millennials.

Future of Online Banking

The popularity of mobile banking has surpassed that of online banking, and the overall number
of online customers has slowed worldwide. According to Business Insider Intelligence, mobile
banking is growing at five times the rate of online banking, and half of all online customers are
also mobile banking users. Despite this growing popularity, some banks still fall short on the
demand for mobile tasks, like bill pay and reward redemption, causing them to push users to
online banking. However, even this push won't be enough to popularize online banking as
millenials and Gen-Zers continue gravitating toward the mobile market.

Future of Digital-Only Banks

Digital-only banks, also known as neobanks, are redefining the future of banking around the
world. Though off to a slow start in the US due to high regulatory barriers, recent developments
and the loosening of regulations suggest that US neobanks are set to take off. San Francisco-
based neobank Chime has attracted over 2 million consumers and is adding more per month than
Wells Fargo or Citi – demonstrating the shift toward digital channels. The development of more
neobanks in the US will bring awareness to digital only banking, and eventually wane-out
traditional banking competitors. According to Business Insider Intelligence's Evolution of the US
Neobank Market report, the increasing competitive digital banking only landscape is going to
cause banks to overhaul their entire business, catering to the demands of the digital era.

Banking Technology Trends

The future of banking technology is driven by consumers, especially Gen Zers, who see
technology as something that enhances their lives. A common trend in banking technology is
using an application programming interface (API) to make proprietary data available to anyone
who has the consumer's permission to access it. APIs could be used to enable a bank's mobile
app to pul down customer account information. Fintechs have also used API technology to
enable their businesses to work, and their success is encouraging competitors to develop their
own APIs. Additionally, Business Insider Intelligence reported that 48% of banking executives
believe new technologies like blockchain and artificial intelligence (AI) will have the greatest
impact on banking through 2020. According to Business Insider Intelligence, banks are exploring
blockchain technology in hopes of streamlining processes and cutting costs.Consumers can
already see AI being used by most banks through chatbots in the front office. Banks are using AI
to smooth customer identification and authentication, while also mimicking live employees
through chatbots and voice assistants.
 TRANSLATE

Masa depan Bank Ritel

Perbankan retil mengacu pada layanan spesifik yang dapat ditawarkan bankkepada konsumen
seperti tabungan tabungan dan giro, kartu-kartu kredit dan debit dan pinjaman-pinjaman.
Tumbuhnya keinginan konsumen untuk mengakses layanan keuangan dari saluran digital telah
menyebabkan lonjakan teknologi perbankan baru yang merekonseptualisasi seluruh pasar
perbankan ritel. Teknologi yang diarahkan untuk meningkatkan efisiensi operasional bank ritel
berdampak positif terhadap pasar. Menurut Business Insider Intelligence, 39% eksekutif
perbankan ritel mengatakan bahwa pengurangan biaya adalah dimana teknologi memiliki
dampak terbesar, dibandingkan dengan hanya 24% yang mengatakan itu meningkatkan
pengalaman pelanggan. Bank ritel juga meluncurkan program pelayanan bank untuk ruang yang
kompetitif. Contohnya, UK Neobank Starling dahulu secara eksklusif menawarkan jasa bisnis-
ke-konsumen (B2C) layanan perbankan ritel tetapi setelah meluncurkan program BaaS, Starling
diversifikasi produk dan aliran pendapatan untuk membantu menjaga relevan di ruang neobank.

Masa Depan Perbankan Seluler

Perbankan seluler telah menjadi metode masuk bagi para pengguna untuk membuat setoran-
setoran, transfer-transfer akun, serta memantau pengeluaran-pengeluaran dan pendapatan-
pendapatan mereka. Menurut Studi Kompetitif Edge Mobile Banking Business Insider
Intelligence, sebesar 89% para responden survei megatakan mereka menggunakan perbankan
seluler. Perhatian utama para konsumen saat memilih perbankan seluler adalah keamanan.
Ketakutan akan pelanggaran data meningkatkan permintaan akan layanan-layanan yang menjaga
keamanan data para pengguna - memungkinkan para konsumen untuk memegang kartu-kartu
kredit atau debit, menjadwalkan pemberitahuan perjalanan, serta mengajukan dan meninjau
perselisihan transaksi kartu adalah beberapa fitur keamanan perbankan yang berhasil. Dompet
seluler adalah fitur lain yang sedang naik daun di perbankan seluler. Dompet seluler adalah
aplikasi yang menekankan kemudahan; Mereka memungkinkan para pengguna untuk melakukan
pembelian-pembelian secara online atau langsung ditoko dengan telepon pintar mereka – tanpa
harus mengeluarkan kartu kredit fisik mereka. Opsi perbankan seluler yang sukses juga
mencakup fitur manajeman uang yang membantu para pengguna mengurangi pengeluaran dan
menumbuhkan tabungan. Masa depan perbankan seluler menunjuk ke arah penawaran sarana
penghematan dan nilai-nilai kesehatan finansial, yang dipandang sangat penting dikalangan para
milenium

Masa Depan Perbankan Online

Popularitas mobile banking telah mengungguli perbankan online, dan jumlah keseluruhan para
pelanggan online telah melambat di seluruh dunia. Menurut Business Insider Intelligence, mobile
banking tumbuh dengan tingkat lima kali lipat dari perbankan online, dan setengah dari semua
para pengguna online juga merupakan para pengguna mobile banking. Meskipun popularitas ini
semakin meningkat, beberapa bank masih gagal dalam memenuhi permintaan untuk tugas-tugas
mobile, seperti pembayaran tagihan dan penukaran hadiah, yang menyebabkan mereka
mendorong para pengguna ke perbankan online. Akan tetapi, bahkan dorongan ini tidak akan
cukup untuk mempopulerkan online banking karena para milenium dan Gen-Zers terus condong
ke arah mobile market.

Masa Depan Bank-Bank khusus Digital

Bank - bank khusus digital juga dikenal neobanks, mereka mendefinisikan kembali masa depan
perbankan diseluruh dunia, meskipun awal yang lambat di Amerika Serikat karena hambatan -
hambatan regulasi yang tinggi. Perkembangan terakhir dan melanggarnya peraturan - peraturan
menunjukkan bahwa neobanks Amerika Serikat akan memulai. Neobanks Chime yang berbasis
di San Francisco telah menarik lebih dari 2 juta para pelanggan dan menambahkan lebih banyak
perbulan daripada Wells Fargo atau Citi menunjukkan pergeseran terhadap saluran - saluran
digital. Perkembangan yang pesat lebih di neobanks di US akan membawa kesadaran - kesadaran
mengenai bank berbasis digital dan bahkan nantinya para pesaing bank - bank tradisional akan
menyusut. Menurut evolusi bisnis Insider Intelligence dari laporan pasar neobank Amerika
Serikat secara teratur perbankan digital yang kompetitif yang akan menyebabkan bank - bank
merombak seluruh bisnis - bisnis mereka, memenuhi kebutuhan era digital.
Masa Depan Teknologi Perbankan

Masa depan teknologi perbankan didorong oleh para konsumen, terutama Gen Zers, yang
melihat teknologi sebagai sesuatu yang meningkatkan kehidupan mereka. Tren umum dalam
teknologi perbankan adalah menggunakan antarmuka pemrograman aplikasi (API) untuk
membuat data kepemilikan tersedia bagi siapa saja yang memiliki izin konsumen untuk
mengaksesnya. API dapat digunakan untuk memungkinkan aplikasi seluler bank mengurangi
informasi akun pelanggan. Fintechs juga telah menggunakan teknologi API untuk
memungkinkan bisnis mereka bekerja, dan keberhasilan mereka mendorong pesaing untuk
mengembangkan API mereka sendiri. Selain itu, Business Insider Intelligence melaporkan
bahwa 48% eksekutif perbankan percaya teknologi baru seperti blockchain dan artificial
intelligence (AI) akan memiliki dampak terbesar pada perbankan hingga tahun 2020. Menurut
Business Insider Intelligence, bank sedang mengeksplorasi teknologi blockchain dengan harapan
dapat mempersingkat proses dan memotong biaya. Konsumen sudah dapat melihat AI digunakan
oleh sebagian besar bank melalui chatbots di kantor depan. Bank menggunakan AI untuk
memperlancar identifikasi dan otentikasi pelanggan, sementara itu juga meniru karyawan secara
langsung melalui chatbots dan asisten suara.
 QUESTIONS AND ANSWERS

1. Q : What is retail banking ? (Paragraph 1)

A : Retail banking refers to the specific services banks can offer to consumers – such as
savings and checking accounts, creditand debit cards, and loans.

2. Q: According to business insider intelligence, What factor that technology has greatest
impact? (Paragraph 1)

A: reducing costs

3. Q : What is the top concern consumers have when choosing Mobile banks ? (Paragraph
2)

A : The top concern consumers have when choosing Mobile banks is security

4. Q : What features are up-and coming in mobile banking ? (Paragraph 2)

A : The feature that up-and-coming in mobile banking are mobile wallets

5. Q : Why does online banking not as popular as mobile banking ? (Paragraph 3)

A : Online banking not as popular as mobile banking because millenials and Gen-Zers
continue gravitating toward the mobile banking.

6. Q : Why does mobile wallets are applications that emphasize convenience ? (Paragraph
2)
 A : Mobile wallets are applications that emphasize convenience because they allow users
to make purchases online or in-store with their smartphones – without ever having to take
out their physical credit card

7. Q : What Digital-only banks is called in banking.? (Paragraph 4)

A : Digital-only banks in banking is called neobanks

8. Q : What is the effect of neobank development in USA? (Paragraph 4)

A : The effect of neobank develpment in USA is The development of more neobanks in

the US will bring awareness to digital only banking, and eventually wane-out traditional
banking competitors.

9. Q :What the general trends does banking use? (Paragraph 5)

A : With the use of API (application programming interface)to make proprietary data
available to anyone who has the consumer's permission to access it.

10. Q : What is the function of AI in banking? (Paragraph 5)

A : The function of AI are to smooth customer identification and authentication, while

also mimicking live employees through chatbots and voice assistants.
Word Noun Verb

Persneling, Perlengkapan, Mencocokkan,

Gear
Alat, Perkakas, Roda Gigi Menyanggupkan

Gelombang Besar, Elora,

Melanda, Bergelombang,
Laut, Sentakan,Lonjakan,
Surge Menggelora, Berombak,
Gelombang Yang Tiba-Tiba
Mengombak
Dan Kuat

Pelanggaran, Penembusan,
Breach Menerobos
Penerobosan, Pemutusan

Menekankan, Menegaskan,
Emphasize Mempertegas, Menggaris
Bawahi, Memberi Tekanan

Surpass Melampaui, Melebihi,

Mengungguli, Melewati

Gravitate Condong, Cenderung,

Mengendap

NEW VOCABULARIES
 DAFTAR PUSTAKA
https://www.businessinsider.com/future-of-banking-technology?IR=T