1. Establishing a digital participation bank in North Macedonia : opportunities and challenges in interest-free financeAhmet Lökçe, Andrijana Bojadzievska Danevska, 2025, original scientific article Abstract: This paper aims to explore the feasibility of establishing a digital participation bank in North Macedonia based on the principles of interest-free finance. This system has been part of ethical and equitable financial systems in the major Abrahamic religions. Thus, as interest-free finance becomes more popular worldwide, digital banking presents a new approach to incorporating these principles into the Macedonian banking system. Here, the purpose of the paper is to discuss the applicability of establishing a digital participation bank in North Macedonia based on interest-free finance principles, by drawing on global best practices. In that sense, this paper provides an analysis of the interest–free finance and intends to describe the banking environment in North Macedonia and the necessary regulatory and market changes. Furthermore, it offers recommendations for integrating ethical, interest-free finance into the Macedonian digital banking sector. Findings indicate that the country has strong potential, due to its diverse population, growing SMEs sector and demand for ethical financial services, but at the core, significant legal and institutional changes are required. Finally, the paper concludes with the opportunities that digital interest-free finance has in financial inclusion, investment attractiveness, and integration with the digital transformation strategy; while detected challenges refer to regulatory changes, consumer and institutional education.
Keywords: digital participation banking, interest-free finance, ethical finance, digital transformation
Published in DKUM: 01.08.2025; Views: 0; Downloads: 2
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2. Neobanks’ footprint on the transformative path of the Austrian and the Slovenian banking MarketChristian Cech, Martin Wirth, Timotej Jagrič, Vita Jagrič, 2025, original scientific article Abstract: The digital transformation in banking, which is supported by the European regulatory framework, has enabled new business models for banking. One example of these changes is the emergence of neobanks. We examine the presence of neobanks in two national markets, Austria and Slovenia. Despite the geographical proximity and rich history of banking integration between the two markets, our findings reveal significant differences in this perspective between the two markets. In the analytical part, we use available indirect and descriptive data. We have identified two historical periods. In the first, domestic neobanks appeared. Unlike in Austria, where there is a rich history of domestic neobanks, there were none in Slovenia. In the second identified period, the most propulsive European neobanks are similarly active in both markets, which increases competition in the banking markets. In the future, the neobanks could contribute to the increase in the mobility of deposits outside the national banking markets.
Keywords: neobanks, digital-only banks, cross-border banking, digital transformation
Published in DKUM: 02.06.2025; Views: 0; Downloads: 4
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3. The development of e-banking services quality measurement instrument : MPQe-BSDomen Malc, Jasmina Dlačić, Aleksandra Pisnik, Borut Milfelner, 2023, original scientific article Abstract: Perceived service quality is a well-researched concept in the marketing literature. Several measurement scales have been proposed, including for banking services, but most apply to the physical service environment. On the other hand, there is a lack of instruments available to measure the quality of banking services in a digital environment. Nowadays, especially pushed by the COVID-19 situation and sustainable development goals promoted by the United Nations, digitalization of services is a new normal. It is often perceived as a green banking practice and a prerequisite to contribute to the SDGs and environment per se. The purpose of this paper is to develop and validate a perceived quality scale of e-banking services. The proposed measurement model was tested on a convenience sample of 335 respondents from Slovenia and Croatia via web-based questionnaires. Content validity, construct validity, dimensionality, and discriminant validity were assessed with EFA and CFA. The results prove that the instrument is appropriate for measuring the perceived quality of e-banking services. It measures six dimensions: efficiency, availability, contact, design, security, and fulfillment. Additional group analysis shows that the scale applies to different cultural contexts. The main limitation of the research is that the instrument measures only the perceived quality of e-banking services provided through online channels. The main theoretical and managerial implications are also discussed.
Keywords: perceived quality, customer satisfaction, e-banking
Published in DKUM: 16.02.2024; Views: 399; Downloads: 42
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4. The impact of COVID-19 on bank efficiency in the Western Balkans : a DEA approachKaterina Fotova Čiković, Violeta Cvetkoska, Damira Keček, 2023, original scientific article Abstract: This paper aims to assess and compare the relative efficiency of commercial
banks in six Western Balkan developing countries (North Macedonia, Serbia,
Montenegro, Bosnia and Herzegovina (B&H), Kosovo1, and Albania), using the
leading nonparametric methodology Data Envelopment Analysis (DEA) for the
period 2016-2020, and investigating the impact of the COVID-19 pandemics
on the performance of banking systems in these countries. The outputoriented
DEA model has been implemented with interest expenses and noninterest
expenses as inputs and interest revenue and non-interest revenue
as outputs. Our findings show that the average efficiency of the six Western
Balkan banking systems differs, and Kosovo’s banking system has noted the
highest average efficiency in the whole observed period (2016–2020). In
contrast, the banking system in Bosnia and Herzegovina noted the lowest
average efficiency. The COVID-19 pandemic decreased the relative efficiency
of the banking sectors in all six of the Western Balkan countries observed,
except Kosovo. However, additional research that includes all pandemic
years is recommended to assess the impact of the COVID-19 pandemic on
the banking systems in the Western Balkans. This study provides invaluable
insights for academic members, banking management and regulatory bodies,
governments, and the interested public. It is the first empirical study that
includes a glimpse of the first impact of the COVID-19 pandemic on banking
systems in the developing countries of the Western Balkans.
Keywords: banking sector, data envelopment analysis, COVID-19, Western Balkans
Published in DKUM: 05.09.2023; Views: 262; Downloads: 76
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5. Blockchain as an instrument for improving banking processesBojana Vukovljak, 2023, original scientific article Abstract: One of the best-known innovations of the recent past is blockchain. Due to its
usability, it has generated considerable interest in several economic areas. A
decentralised system's approach can potentially reshape existing industries or
make them redundant. Such technology can add a new dimension to processes,
which is particularly relevant for the banking sector in the future. This
demonstrates a great necessity to deal with blockchain with respect to market
position and competition. This paper aims to provide insight into the current
potential of blockchain applications in banking procedures. The benefits of
process improvement in the financial sector are also outlined. This research
shows that many experiences and adequate knowledge are already available.
According to recent research, this technology will benefit banks’ business
models, performance, and capabilities. However, blockchain is still in the phase
of research and development, which is a crucial aspect of the banking industry.
Keywords: blockchain, financial sector, banking sector, business model, innovation
Published in DKUM: 01.09.2023; Views: 329; Downloads: 228
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6. Board structure and bank performance : the mediating role of intellectual capitalJelena Nikolić, Jelena Erić Nielsen, Jelena Peković, 2022, original scientific article Abstract: Intellectual capital in the knowledge era is a strategic advantage of board
structure, which leads to the improvement of a company’s work and the
achievement of its goals. The aim of this study is to develop a structural
model that connects the corporate governance, intellectual capital and
financial performance of the banking sector. Corporate governance is
conceptualised by the board of directors as the main internal mechanism of
corporate governance, which is measured by the size of the board of directors,
the number of independent board members and the female board members.
Intellectual capital represents a mediator in this model and its efficiency
is calculated through the Value Added Intellectual Coefficient (VAIC) model,
while the financial performance of banks is measured through return on
assets (ROA) and return on equity (ROE). The results of the study conducted
in 22 Serbian banks between 2015 to 2019 show that the size of the board of
directors and the number of independent board members have a statistically
significant impact on intelectual capital (IC), but there is no impact on total
assets (ROA). The number of women in the board of directors does not have a
statistically significant effect on either ROA or ROE. The findings also indicate
that intellectual capital (HCE, SCE, CEE) has a significant mediating role in
the relationship between board structure and bank performance. The results
of this study will provide a significant contribution to further investment in
intellectual capital as the strongest link in achieving positive effects on bank
performance.
Keywords: corporate governance, board of directors, board structure, i
ntellectual capital, financial performance, banking sector
Published in DKUM: 01.09.2023; Views: 202; Downloads: 119
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7. Assessment of the state of competition in the banking market in the Russian FederationAnna Rabdanova, Vera Bulatova, 2016, original scientific article Abstract: Competition is one of the factors directly influencing the development of the banking market, the stability of the banking system, and the monetary system as a whole. This article describes the features of banking competition, methods of analysis of banking competition, and an analysis of the current state of competition in the banking market in the Russian Federation. The analysis of banking competition in the Russian Federation was performed using the concentration ratio for the top three companies and the Herfindahl-Hirschman Index. The research concludes with an assessment of the state of competition in the banking market and identification of the barriers to entering the financial services market.
Keywords: Commercial bank, bank competition, banking market, market concentration
Published in DKUM: 03.11.2017; Views: 1594; Downloads: 403
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8. METHODOLOGICAL ISSUES OF THE COMPETITIVE POSITION ASSESSMENT OF THE ICT SUPPORTED BANKAnna Rabdanova, 2017, master's thesis Abstract: Competition is the main driver of the economy. This phenomenon has long been of interest to economists, which subsequently resulted in the creation of several approaches to the concept of competition. Economists developed various methods for assessing competition and the competitive position of the firm. The assessment of competition and competitive position allows the company to understand the situation on the market and develop a strategy in order to take a leading position.
Information and communication technologies (ICT) are rapidly developing around the world. ICT penetrate into all spheres of human life, changing human behavior, in particular our behavior as a consumer. Consumers become more IT-armed; they are no longer satisfied with traditional approaches to customers. As a result, firms also need to change, introducing ICT into their business processes.
The banking sector has its own characteristics that distinguish it from other sectors of the economy. Consequently, the banking competition also has its own characteristics. Banks actively use ICT, introducing them into their internal processes, as well as in the services they provide.
There are two hypotheses in this Master’s Thesis. The purpose of H1 was to investigate how ICT impacts on competitive position of banks in Russia. H2 was that the most important ICT which impacts competitive position of banks in Russia are those which improve the quality of banking services. To prove these hypotheses the case study of PJSC Sberbank was used. The analysis of current state of competition in the Russian banking market also was conducted. In the case study the bank's history was reviewed, its financial and economic activities were analyzed, and Porter’s Five Forces Analysis was conducted. Both hypotheses were accepted.
Keywords: Competition, Competitive position, Banking, ICT, Russia
Published in DKUM: 26.05.2017; Views: 1353; Downloads: 70
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9. User experience with security elements in internet and mobile bankingAleksandra Svilar, Jože Zupančič, 2016, original scientific article Abstract: Background/Purpose: Maintaining a balance between security and a positive user experience in mobile and Internet banking is becoming increasingly difficult for the providers of banking services. The goal of our research is to analyse user opinions about the current situation: how users perceive security and how the authentication methods they are using affect user experience.
Methodology: Data were collected using an online survey among the users of 15 banks operating in Slovenia, and statistical methods were applied to analyse them. Results of the users’ study were evaluated and commented by a limited number of interviewed banking security experts.
Results: The results indicate that the use of mobile banking in Slovenia is relatively low, as only 30 percent of respondents use mobile banking along with Internet banking. Slovenian users perceive security to be the most important factor in mobile and online banking, closely followed by reliability. We also verified whether the users knew which authentication methods they were using: 69% of respondents selected the correct authentication method. The opinion of 88% of respondents was that authentication methods do not limit them when using mobile and Internet banking. Results of the study of user’s opinions did not surprise the experts, although experts’ views about the balance between security and usability diverged considerably.
Conclusion: Our results indicate that, in Slovenia, users of the Internet and mobile banking services regard security to be the most important element in mobile or Internet banking and find user experience less important while they absolutely do want products that are easy to use.
Keywords: internet banking, mobile banking, security, user experience
Published in DKUM: 04.04.2017; Views: 2071; Downloads: 459
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10. Transition report1994 Keywords: Vzhodna Evropa, Srednja Evropa, Rusija, Slovenija, tržno gospodarstvo, ekonomika prehoda, ekonomska rast, ekonomski razvoj, makroekonomija, neposredne tuje investicije, finančne institucije, finance, zakonodaja, bančništvo, Eastern Europe, Central Europe, Russia, Slovenia, market economy, transitional economics, economic growth, economic development, macroeconomics, foreign direct investments, financial institutions, finance, legislation, banking
Published in DKUM: 10.07.2015; Views: 2247; Downloads: 37
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