MUMBAI, India, Aug. 10 -- Intellectual Property India has published a patent application (202411104817 A) filed by Lingaya'S Vidyapeeth on December 31, 2024, for Method For Evaluating The Impact Of Financial Innovation On Traditional Banking.
Inventors include Mr. Praveen Kumar Pandey; Dr. Picheswar Gadde; Mr. Rajling Gadde; Dr. Samrti Mahajan; Dr. Neha Guleria; Dr. Komal Jaiswal; Ms. Manisha Jindal; Mr. Vishesh Poswal; Mr. Sandeep Kapoor; Dr. Sapna Sharma; Ar. Aditi Arora; Dr. Monika Rastogi; Dr. K K Garg; Dr. Seema Bushra; and Dr. Pranav Mishra.
The application for the patent was published on July 31, 2026, under issue no. 31/2026.
Abstract: ABSTRACT METHOD FOR EVALUATING THE IMPACT OF FINANCIAL INNOVATION ON TRADITIONAL BANKING A method (100) for evaluating the impact of financial innovation on traditional banking. Further, the method comprising analyzing the integration of digital banking platforms, fintech solutions, blockchain technology, and artificial intelligence within traditional banking operations, and their effects on customer expectations, market share, and cost structures. Further, the method (100) comprising the steps of assessing the strategic and regulatory responses of traditional banks to the disruption caused by financial innovations, including digital transformation initiatives and adaptations to evolving regulatory frameworks. Further, the method (100) comprising the steps of evaluating the challenges and opportunities for traditional banks in managing legacy systems, cybersecurity risks, and workforce changes in the face of emerging financial technologies. FIG. 1
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