Risks of Banking Services’ Digitalization: The Practice of Diversification and Sustainable Development Goals

Aguayo, Francisco; Ślusarczyk, Beata

doi:10.3390/su12104040

Cited by 22 publications

(9 citation statements)

References 35 publications

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“…Effective risk management, including its diversification, is also ranked among the contributors to sustainable bank development in the global economy [46]. Examination of risk-mitigation strategies in Southeast Asia proved that the banks had become more sustainable when implementing viable risk-mitigation strategies [47].…”

Section: Literature Reviewmentioning

confidence: 99%

Digital Transformation in Banking: A Managerial Perspective on Barriers to Change

2021

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The digitalisation of banks is seen as the omnipresent challenge which the banking industry is currently facing. In this digital change process, banks are facing disruptive innovation that requires adaptation of almost all cooperative processes. Digital transformation in the financial industry is associated with obstacles that seem to hinder smooth implementation of digital approaches. This issue has not been adequately addressed in the current academic literature. The main purpose of this qualitative exploratory study is to identify the main perceived obstacles to digital transformation in both the private and commercial banking sectors from a managerial point of view and to analyse them accordingly. The methodology is based on a methodological approach using a combination of contextual interviews with German board members of banks, inductive content analysis, and the exploration of best-practice approaches. The findings revealed that elements of strategy and management, technology and regulation, customers, and employees receive a high level of attention within the digital transformation. The other main barriers can be found in the areas of market knowledge and products, employee and customer participation, and public benefit. Each main barrier is characterised by several sub-barriers of varying importance for the digital transformation of banks and is described in detail.

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Section: Literature Reviewmentioning

confidence: 99%

Digital Transformation in Banking: A Managerial Perspective on Barriers to Change

2021

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“…A study focusing on single countries, such as Nigeria, shows that digitalization, if adequately implemented, has a positive impact on the performance of commercial banks [6], whereas a study in China showed that investment in digitalization contributes to sustainable production improvements in commercial banks [7]. On the other hand, the research reports that digitalization does not come free of operational risks [8] and that the digitization of banking poses a threat to several areas, including security [9]. Accordingly, innovation, willingness to take risks, and being ahead of competition should all be parts of successful digitalization [10].…”

Section: Introductionmentioning

confidence: 99%

Digitainability and Financial Performance: Evidence from the Serbian Banking Sector

2021

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This study aimed to explore the cross-section of digitalization and sustainability in banking and its effect on bank performance. The sample consisted of all of the banks (n = 25) operating in the Republic of Serbia from 2011 to 2020. The research results show that the banks focusing on digitalization and sustainability are profitable, even in the face of coronavirus disease 2019 (COVID-19). Furthermore, using the Pearson’s correlation, the study shows that the level of investment in digital transformation has a strong relationship with the net result. We advocate that digitainability in banking is an important factor in uncertain times and should be fostered and included in bank strategies in the post-COVID 19 world. To the best of our knowledge, this is the first study that provides insight into digitainability and bank performance.

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“…On the other hand, "democratization of credit" or "easy credit culture" has led to a significant increase in the share of the population accessing credit through various channels, registering the excessive indebtedness of certain categories of people, generally those with a low degree of financial education and low income earners. The widespread use of mobile phones by the population has also led to the emergence of specific financial services such as mobile banking, mobile payments, money transfers, and mobile international remittance services [19,27,[31][32][33]. So, financial inclusion is a complex process that is also fueled by the involvement of public authorities, financial institutions, IT companies that come up with solutions for the digitization and secure of financial services.…”

Section: Introductionmentioning

confidence: 99%

Financial Inclusion Paradigm Shift in the Postpandemic Period. Digital-Divide and Gender Gap

Vasile

Panait

Apostu

2021

IJERPH

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Financial inclusion is strongly differentiated by age groups and countries and the pandemic has highlighted the increased gaps and inequalities but also the weaknesses of the system, in terms of flexibility, access and facilities of the customer-bank relationship and also from the perspective of the financial education of young generations and vulnerable people, active in the labor market. Based on the available data provided by the Global Findex database, and some findings after more than one year of COVID-19 crisis we outlined the main aspects of financial digitization, by categories of people and countries. At the same time, we identified the challenges and problems during the pandemic that significantly adjusted the consumption pattern of citizens and increased the need for on-line access for financial transactions. Starting from the analysis of the inequality of access to financial instruments in the last years, from the informational asymmetry in financial education and the challenges of the pandemic period, we underlined the main coordinates of changing the model of sustainable financial inclusion—based on five pillars—access, education, support tools, CSR and resilience. The research results highlight the need for convergence in providing opportunities to consider financial inclusion as a public good and an active tool to increase consumers’ satisfaction and the quality of life of individuals.

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Risks of Banking Services’ Digitalization: The Practice of Diversification and Sustainable Development Goals

Cited by 22 publications

References 35 publications

Digital Transformation in Banking: A Managerial Perspective on Barriers to Change

Digital Transformation in Banking: A Managerial Perspective on Barriers to Change

Digitainability and Financial Performance: Evidence from the Serbian Banking Sector

Financial Inclusion Paradigm Shift in the Postpandemic Period. Digital-Divide and Gender Gap

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