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Are incumbent banks bygones in the face of digital transformation?

Krasonikolakis, Ioannis, Tsarbopoulos, Michalis, Teck-Yong, Eng (2020) Are incumbent banks bygones in the face of digital transformation? Journal of General Management, 46 (1). pp. 60-69. ISSN 0306-3070. (doi:10.1177/0306307020937883) (KAR id:82171)


Digital transformation has received considerable scholarly attention in areas of management, business, information systems, information technology, and marketing. In particular, retail banks have been at the forefront of technological revolution characterized by rapid deployment and innovation of digital services, exponential pace of change and innovative breakthroughs that alter conventional banking practice. However, the term digital transformation is often misunderstood as a straightforward deployment of latest information communication technologies. In practice, technological investments entail not only risk but also require an understanding of the relationship between technological, organizational culture and institutional change within certain boundaries of regulatory framework. Digital transformation is far from simple, certain or predictable and likely to be disruptive or transformative with immutable impacts upon associated organizational outcomes related to technical capabilities and behaviors. The present study attempts to explore and develop a framework for understanding digital transformation by examining the development, deployment and use of digital technologies in retail banking. Within a social informatics perspective, this study examines the effects of digital technologies on retail banks operations, structure and capabilities of those who deploy, implement and use it. Using a grounded theory approach the study explores theoretical constructs by reviewing the literature and analysing primary field data including data from retail banks and interviews with senior professionals. The findings provide the pitfalls and successful approaches towards the digital transformation journey. This includes the ordinary dilemmas that the managers face in order to deliver the projects at hand.

Item Type: Article
DOI/Identification number: 10.1177/0306307020937883
Uncontrolled keywords: Technology disruption, Digital Transformation, Rethink banking, Information and Communication technologies
Divisions: Divisions > Kent Business School - Division > Department of Marketing, Entrepreneurship and International Business
Depositing User: Paul Crame
Date Deposited: 21 Jul 2020 08:59 UTC
Last Modified: 04 Mar 2024 16:51 UTC
Resource URI: (The current URI for this page, for reference purposes)

University of Kent Author Information

Krasonikolakis, Ioannis.

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