Digital technologies in transformation of classical retail bank into digital bank

Sajic, Mirko; Bundalo, Dušanka; Bundalo, Zlatko; Pasalic, Drazen

doi:10.1109/telfor.2017.8249404

Cited by 23 publications

(18 citation statements)

References 1 publication

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“…shows proposed model of structure of modern digital bank. It is more similar to some production structure than to the current bank (Sajić, Bundalo, Bundalo & Pašalić, 2017).…”

Section: Transformation Of Bank Structure and Role Of Mobile Informatmentioning

confidence: 91%

“…A real existing example of such an structure is shown in Figure 2. It is not possible to adapt such an structure, with small changes, to new technology in such a way that the technology could be used to its full capacity and taking advantage of the possibilities they provide (Sajić, Bundalo, Bundalo & Pašalić, 2017). The base of the traditional bank consists of the Central Unit (Central Office), which includes the strategic and operational management of the bank, IT (Information Technology) centre, marketing, the Call Centre, the Back Office, accounting and controlling, legal services, and other support services.…”

Section: Disharmony Between Development Of Banks and Mobile Informatimentioning

confidence: 99%

“…Proposal what should be performed to better know bank clients in order to improve operations of banks: ◆ Gain more knowledge about clients through sophisticated built CRM solution, based on Data Warehouse and Business Intelligence (Sajić, Bundalo, Bundalo & Pašalić, 2017) The main goal is to have accurate and on time information about client, both financial and nonfinancial, about his/her needs, wishes, and even also about his/her behaviour. That will enable necessary information to those bank employees who come at the counter in contact with the client, as well as to those who work on segmentation, who create and realize campaigns, according to which they will act towards client in an adequate way.…”

Section: Improving Knowledge and Socialization Of Clients Using Modermentioning

confidence: 99%

“…The proposal of structure of the IS of modern digital bank is shown in figure 6. (Sajić, Bundalo, Bundalo & Pašalić, 2017).…”

Section: Modern Banking Applications and Core Banking Systems In The mentioning

confidence: 99%

“…Such new proposed structure of the digital bank is shown in figure 5. (Sajić, Bundalo, Bundalo & Pašalić, 2017). ◆ Introduce the "Big Data" concept into the information system of bank…”

Section: ◆ Create a Flexible Information Systemmentioning

confidence: 99%

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Defining the need for and proposing how to transform traditional into digital banks with the support of information and mobile technologies

Sajic¹,

Bundalo²,

Bundalo³

2019

EurJ Appl Econ

Self Cite

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The need to practically and effectively implement the transformation of standard traditional banks into digital ones and how to transform them using information and mobile technologies are analyzed and described in the paper. The aim of this paper is to provide clear evidence about the need to transform banks from their present, traditional form into a new one that organizes and provides services, through a so-called digital bank. The great influence of mobile digital information technologies on the entire financial sector is further emphasized. The problems that appear because of the divergence of the existing concept of bank development and way in which modern clients want to obtain services, according to the possibilities of modern mobile digital technologies, are additionally explained. Proposals are also given for how to practically perform these changes and transformations, together with reasons that require changes. The basic principles for transitioning banks from traditional to digital formats through the so-called hybrid transformation period are presented, and several concrete solutions are proposed.

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“…shows proposed model of structure of modern digital bank. It is more similar to some production structure than to the current bank (Sajić, Bundalo, Bundalo & Pašalić, 2017).…”

Section: Transformation Of Bank Structure and Role Of Mobile Informatmentioning

confidence: 91%

Section: Disharmony Between Development Of Banks and Mobile Informatimentioning

confidence: 99%

Section: Improving Knowledge and Socialization Of Clients Using Modermentioning

confidence: 99%

“…The proposal of structure of the IS of modern digital bank is shown in figure 6. (Sajić, Bundalo, Bundalo & Pašalić, 2017).…”

Section: Modern Banking Applications and Core Banking Systems In The mentioning

confidence: 99%

Section: ◆ Create a Flexible Information Systemmentioning

confidence: 99%

See 3 more Smart Citations

Defining the need for and proposing how to transform traditional into digital banks with the support of information and mobile technologies

Sajic¹,

Bundalo²,

Bundalo³

2019

EurJ Appl Econ

Self Cite

View full text Add to dashboard Cite

show abstract

Towards an APIs Adoption Agile Model in Large Banks

Tabares

Suescún

2020

Trends and Innovations in Information Systems and Technologies

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Impact of Digital Transformation on Retail Banking Industry in the UAE

Kothari¹,

Seetharaman²

2020

IFIP Advances in Information and Communication Technology

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The UAE's banking industry has emerged as one of the most dynamic in the region, and the largest financial center in the Middle East. The industry has been confronted with 'digital disruption', 'digitization' 'digital banking'. The key reasons for digitization in addition to competitiveness include improved banking efficiency, attracting and retaining customers, improving analytics, launching innovative services and enhancing customer experience. However, organizations struggle with the implementation of digitalization initiatives and fall behind in achieving their plans. There is very limited literature written on the research to study impact of digital transformation on the retail banking industry in the UAE. Moreover, it is based on secondary research. This study aims to identify the variables that drive digital transformation and study the impact of digital transformation in Retail Banking Industry in the UAE. The results of the study show that customer needs, technology, regulation, business processes, skills and competencies impact digital transformation and should support retail banks in developing a theory of digital transformation in their journey to excel in a competitive marketplace.

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Digital technologies in transformation of classical retail bank into digital bank

Cited by 23 publications

References 1 publication

Defining the need for and proposing how to transform traditional into digital banks with the support of information and mobile technologies

Defining the need for and proposing how to transform traditional into digital banks with the support of information and mobile technologies

Towards an APIs Adoption Agile Model in Large Banks

Impact of Digital Transformation on Retail Banking Industry in the UAE

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