Uncovering Motivations and Frustrations for Banks' Digital Technology Adoption
Type
applied research project
Start Date
June 1, 2014
End Date
December 1, 2014
Status
completed
Keywords
Digitalization
technology adoption
strategic transformation
strategic issue
Description
The purpose of this project is to understand and predict private banks' attitudes toward digital technology adoption. Digitalization is an issue of strategic relevance not only for retail, but also for private wealth management businesses. Digital technologies have the potential to fundamentally transform the private banking core business, for instance in the area of client relationship management, and of internal bank processes.
Yet, private banks in particular largely differ in the extent to which they see digital technologies as an opportunity for their business, and in the extent to which digitalization is a priority for action on their agenda. Based on an extensive interview round across management levels, this study uncovers the frustrations (e.g. data security concerns, availability of technology solutions, etc.), and motivations, (e.g. multi-channel distribution, expansion of geographic reach, standardization and automation of processes, etc.), that underlie banks' implementation of digital technology solutions. The project is sponsored by Elisa Oyj.
Yet, private banks in particular largely differ in the extent to which they see digital technologies as an opportunity for their business, and in the extent to which digitalization is a priority for action on their agenda. Based on an extensive interview round across management levels, this study uncovers the frustrations (e.g. data security concerns, availability of technology solutions, etc.), and motivations, (e.g. multi-channel distribution, expansion of geographic reach, standardization and automation of processes, etc.), that underlie banks' implementation of digital technology solutions. The project is sponsored by Elisa Oyj.
Member contributor(s)
Funder
Topic(s)
Digitalization
Method(s)
Qualitative interviews
Range
Institute/School
Range (De)
Institut/School
Principal
Elisa Oyj
Eprints ID
236182