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EDITORIAL

1
Dr. A. S. Ramasastri

Realizing the need for putting together top class research In the present times, it is very difficult to set boundaries to
work in the area of banking technology, we started the what constitutes banking and financial technology. Several
IDRBT Journal on Banking Technology (IJBT) a couple of emerging technologies, which a few years back appeared
years back. Thanks to the excellent support extended by the remotely connected to banking and financial sectors have
associate editors, who are all highly reputed researchers become core engines for various activities undertaken by
across the globe, we could successfully bring out three the sectors. Machine Learning, Robotics, BlockChains, 3D
editions of the journal – one in 2017 and two in 2018. It is Printing, Drones and 5G are either already or in future be
a matter of great satisfaction to us that we could publish drivers for banking and financial sectors to meet customer
high quality articles on varied topics relevant to banking requirements and expectations. They are very likely to play
technology from authors from well-known academic a major role in helping the sectors in designing and
institutions located in different countries. We could also delivering products and services, which customer would not
publish a few articles from accomplished practitioners, have even thought of!
including an ex-Governor of Reserve Bank of India.
The time lag between academic work in universities and its
There have been two important developments since the practical applications in industry is coming down
publication of the third issue of IJBT in December 2018. considerably. Incubators, accelerators and FinTechs are all
First was the tie up with Springer as our partner for contributing in narrowing the gap between academic
publication of the journal. An association with Springer, we research and its practice in the industry. It is in this
are sure, is likely to reach the journal to larger sections of background we started the journal two years back with two
researchers and practitioners working in the area of banking separate sections for researchers and practitioners. We are
technology. It is also likely that we receive a greater number happy that we have been receiving papers from both the
of articles of high quality. communities, which we feel will immensely help the

The second development is about the scope, and therefore, banking and financial sectors forge ahead in technology
title of the journal. Technology that is relevant and useful to adoption. It is evident from the papers in the current volume
banking is equally relevant and useful to financial sector of the journal, which dwell deeper on topics like blockchain,
that includes areas like insurance, mutual funds, stock fintechs, stock price modelling, mobile payments, currency
exchanges and non-banking financial companies. recognition, cryptocurrencies and electronic payments.
Accordingly, we felt that the scope of the journal need not Technology innovation is the key to change the banking and
be just banking but can extend to the entire financial sector. financial sector scenario. Some changes can be disruptive.
Thus, we rechristened the journal as Journal of Banking and But there seems to be a greater degree of preparedness for
Financial Technology (JBFT). The current issue is the first the sectors to cope with the direction and dimension of
of the renamed journal and first in association with sweeping changes. The journal, we feel, can play a role,
Springer. though small, in bringing in the change.

Dr. A. S. Ramasastri
Editor-in-Chief

Dr. A. S. Ramasastri ( )
Director, Institute for Development and Research in
Banking Technology, Hyderabad, India
e-mail: asramasastri@idrbt.ac.in