The Necessity of Digitalization of the Banking System - A Chance or a Threat to the Development of the Banking Market?

Vesić, Tamara; Lazović, Cvetko; Petronijević, Dora

doi:10.15308/finiz-2020-125-130

Cited by 1 publication

(1 citation statement)

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“…The introduction of new technologies has enabled financial enterprises (FEs) to reduce operating costs, offer new products and services, improve customer awareness, etc. (Vesić et al 2020). According to some studies, digital transformation affects financial organisations in two ways: one is customer relations and customer access to services, and the other is human resources (Kitsios et al 2021).…”

Section: Introductionmentioning

confidence: 99%

Interplay between CSR and the Digitalisation of Bulgarian Financial Enterprises: HRM Approach and Pandemic Evidence

Zahariev,

Ivanova,

Zaharieva

et al. 2023

JRFM

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The study presents the economic, managerial, and societal perspectives on corporate social responsibility (CSR) as a basis for adding value to enterprises. It investigates the interplay between the digitalisation of activities and the management of Bulgarian financial enterprises, with a focus on HRM and CSR initiatives in a pandemic situation. The study tests the hypothesis that, in pandemic conditions, the CSR of Bulgarian financial enterprises is positively correlated with the digitalisation of general and human resource management. To assess the level of engagement of financial enterprises with CSR causes during the pandemic, the study employs a methodology comprising descriptive statistics and ordinal regression. The main conclusion, based on a nationally representative survey of Bulgarian financial enterprises, is that banks and insurers that heavily invest in digitalisation have demonstrated a higher level of commitment to CSR causes during the COVID-19 pandemic, while conservative and less digitally advanced financial enterprises have had limited CSR activity. By adopting fintech and insurtech solutions directed towards societal needs, market demands, and customer satisfaction, financial enterprises increase their efficiency. Our analysis confirms the interplay between the digitalisation of financial enterprises and support for CSR causes.

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Section: Introductionmentioning

confidence: 99%