Application of financial innovations in the banking sector of Serbia
Bibliographic record
Abstract
Background: Innovations in the domain of banking services in the household sector are primarily related to easier access to a current account and new payment methods, which are practical and simple for the consumer. Financial innovation and financial development are positively related, and their impact grows over time. Constant changes in client demands, and constant pressure to reduce costs and increase efficiency leave banks with no choice but to apply modern technology. Purpose: This is to point out the importance of financial innovations and their application in the banking market of Serbia. This is all the more so, as the level and growth of real wages in Serbia, as well as the increased inflationary pressure since the time of COVID-19, make these services for bank clients in Serbia much more expensive and inaccessible, due to differences from clients in developed markets. Methodology/approach: Materials from scientific journals and primary sources were used in the presented research, using the method of content analysis. The presented research was done on the basis of official data available on the National Bank of Serbia's website, which cover a time series of five years. An appropriate statistical regression method was applied. Findings/conclusions: The conducted research showed that financial innovations have adequate application in Serbia as a developing market. The Covid-19 pandemic forced the process of digitization and the adoption of financial innovations to accelerate, and judging by the results of the research, this process is irreversible. Limitations/future research: Future research could address the value of the transactions made in the same period. Is the increase in the value of financial transactions due to an increase in the number of users or an increase in the volume of transactions? Another question would be whether the inflation factor is noticeable in the increase in the financial value of transactions. Certain limitations may appear in future research, related to a real reduction in wages, or even job loss, and that is to what extent are bank clients ready to continue using existing financial innovations, i.e. buy new innovations, at the expense of this reduction.
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How this classification was reachedexpand
Full frame distilled prediction
Teacher imitationNot calibrated prevalence, not ground truth. Human validation pending. Learned from the 10,348 direct Codex labels and 10,348 direct Gemma labels. Candidate is the union of thresholded teacher heads; consensus is their intersection. These outputs are machine_predicted_unvalidated and are not human labels or direct frontier model labels.
Codex and Gemma teacher scores by category
| Category | Codex | Gemma |
|---|---|---|
| Metaresearch | 0.000 | 0.000 |
| Meta-epidemiology (narrow) | 0.000 | 0.000 |
| Meta-epidemiology (broad) | 0.000 | 0.000 |
| Bibliometrics | 0.000 | 0.003 |
| Science and technology studies | 0.000 | 0.000 |
| Scholarly communication | 0.000 | 0.000 |
| Open science | 0.000 | 0.000 |
| Research integrity | 0.000 | 0.000 |
| Insufficient payload (model declined to judge) | 0.000 | 0.000 |
Machine scores (provisional)
The two teacher heads of the student model, read on this work. A score orders the frame for review; it never asserts a category, and the validation status ships verbatim with every row.
Baseline scores from an immature model (maturity gate not passed, 7 training rounds). Scores rank; they never assert a category.
score_only:v0-immature-baseline · verbatim from the scoring run: score_only means the number may rank works, and no category label ships from itClassification
machine, unvalidatedMachine predicted; a candidate call from one teacher head, not a consensus.
How this classification was reached, model by model and score by score, is at the end of the page under "How this classification was reached".