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Digital Transformation Journey for Incumbent Banks: The Case Study of Greece

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  • Aristides Papathomas
  • George Konteos

Abstract

Banking institutions’ digital transformation framework has a phased journey, whose pace may position the institution for success of failure. The paper is providing a structure of progress for assessment on that journey, building on a study of the Greek banking institutions. The main tools employed were empirical case study examination of a representative bank, relevant scholar and professional literature review and market observations. The Greek banking system, having to weather multiple external pressure factors, is pushing through into the digital journey. The paper examines and assesses progress achieved by identifying areas of success and others where steam has been lost. Further research will deepen the knowledge around digital transformation banking transition, also providing opportunity for cross-examination with grey literature and practitioners. On practical implications, the findings could be used by banks’ leadership to identify the position they are in the digital transformation journey and the way forward. To our knowledge, it is the first study that builds such an overview for the Greek financial incumbents, with potential management concerns identified.

Suggested Citation

  • Aristides Papathomas & George Konteos, 2022. "Digital Transformation Journey for Incumbent Banks: The Case Study of Greece," International Journal of Marketing Studies, Canadian Center of Science and Education, vol. 14(2), pages 1-13, December.
    • Handle: RePEc:ibn:ijmsjn:v:14:y:2022:i:2:p:13
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    References listed on IDEAS

    as
    1. Matt, C. & Hess, Thomas & Benlian, Alexander, 2015. "Digital Transformation Strategies," Publications of Darmstadt Technical University, Institute for Business Studies (BWL) 75002, Darmstadt Technical University, Department of Business Administration, Economics and Law, Institute for Business Studies (BWL).
    2. Christian Matt & Thomas Hess & Alexander Benlian, 2015. "Digital Transformation Strategies," Business & Information Systems Engineering: The International Journal of WIRTSCHAFTSINFORMATIK, Springer;Gesellschaft für Informatik e.V. (GI), vol. 57(5), pages 339-343, October.
    3. Vinit Parida & David Sjödin & Wiebke Reim, 2019. "Reviewing Literature on Digitalization, Business Model Innovation, and Sustainable Industry: Past Achievements and Future Promises," Sustainability, MDPI, vol. 11(2), pages 1-18, January.
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    5. Matt, C. & Hess, Thomas & Benlian, Alexander, 2015. "Digital Transformation Strategies," Publications of Darmstadt Technical University, Institute for Business Studies (BWL) 75202, Darmstadt Technical University, Department of Business Administration, Economics and Law, Institute for Business Studies (BWL).
    6. Ferreira, João J.M. & Fernandes, Cristina I. & Ferreira, Fernando A.F., 2019. "To be or not to be digital, that is the question: Firm innovation and performance," Journal of Business Research, Elsevier, vol. 101(C), pages 583-590.
    7. Karolin Frankenberger & Tobias Weiblen & Michaela Csik & Oliver Gassmann, 2013. "The 4I-framework of business model innovation: a structured view on process phases and challenges," International Journal of Product Development, Inderscience Enterprises Ltd, vol. 18(3/4), pages 249-273.
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    Cited by:

    1. Aristides Papathomas & George Konteos, 2024. "Financial institutions digital transformation: the stages of the journey and business metrics to follow," Journal of Financial Services Marketing, Palgrave Macmillan, vol. 29(2), pages 590-606, June.

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    JEL classification:

    • R00 - Urban, Rural, Regional, Real Estate, and Transportation Economics - - General - - - General
    • Z0 - Other Special Topics - - General

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