IDEAS home Printed from https://ideas.repec.org/a/spr/jknowl/v13y2022i2d10.1007_s13132-021-00759-0.html
   My bibliography  Save this article

Digital Transformation in the Value Chain Disruption of Banking Services

Author

Listed:
  • Ali Naimi-Sadigh

    (Iranian Research Institute for Information Science and Technology (IranDoc))

  • Tayebeh Asgari

    (Islamic Azad University, Electronic Branch)

  • Mohammad Rabiei

    (Iranian Research Institute for Information Science and Technology (IranDoc))

Abstract

Digital transformation is a collection of actions taken by organizations or a country to adopt new digital technologies to capture their interests and change the performance of an organization tremendously with a focus on disruptive technologies. Organizations need a clear strategy, proper organizational structure, digital capabilities, supportive organizational culture, and a balanced governance system to make the digital change. Stepping into the digital world and presenting innovative models (social media, mobile, big data, cloud computing, internet of things, artificial intelligence, fin-tech, blockchain, virtual reality, and augmented reality) give banks great opportunities to present new valuable offers, especially by combining their existing services with new digital capabilities. This study describes how to implement the digital transformation and respond to the disruption in an Iranian specialized bank (Bank Maskan), the steps, and how to go through these steps. Due to the complexity of the issues in the field of digital technologies, the Delphi method has been used to gather opinions and reach consensus among banking industry experts. In this research, we have sought to establish a clear process for the development and exploitation of innovations through new technologies and digital approaches in the bank by implementing digital transformation. In order to prepare the conditions, facilitate, and accelerate the passage of the digital transformation stages and to achieve the desired situation, a set of projects and measures have been determined. These projects are mainly about information technology and classified into three categories: infrastructure, development, and business based on the nature and level of their impact on business.

Suggested Citation

  • Ali Naimi-Sadigh & Tayebeh Asgari & Mohammad Rabiei, 2022. "Digital Transformation in the Value Chain Disruption of Banking Services," Journal of the Knowledge Economy, Springer;Portland International Center for Management of Engineering and Technology (PICMET), vol. 13(2), pages 1212-1242, June.
    • Handle: RePEc:spr:jknowl:v:13:y:2022:i:2:d:10.1007_s13132-021-00759-0
    DOI: 10.1007/s13132-021-00759-0
    as

    Download full text from publisher

    File URL: http://link.springer.com/10.1007/s13132-021-00759-0
    File Function: Abstract
    Download Restriction: Access to the full text of the articles in this series is restricted.
    File URL: https://libkey.io/10.1007/s13132-021-00759-0?utm_source=ideas
    LibKey link: if access is restricted and if your library uses this service, LibKey will redirect you to where you can use your library subscription to access this item
    ---><---

    As the access to this document is restricted, you may want to search for a different version of it.

    References listed on IDEAS

    as
    1. Hess, Thomas & Matt, Christian & Benlian, Alexander & Wiesböck, Florian, 2016. "Options for Formulating a Digital Transformation Strategy," Publications of Darmstadt Technical University, Institute for Business Studies (BWL) 81032, Darmstadt Technical University, Department of Business Administration, Economics and Law, Institute for Business Studies (BWL).
    2. Alexey Bereznoy, 2019. "Changing Competitive Landscape Through Business Model Innovation: the New Imperative for Corporate Market Strategy," Journal of the Knowledge Economy, Springer;Portland International Center for Management of Engineering and Technology (PICMET), vol. 10(4), pages 1362-1383, December.
    3. Bart van Ark & Mary O'Mahoney & Marcel P. Timmer, 2008. "The Productivity Gap between Europe and the United States: Trends and Causes," Journal of Economic Perspectives, American Economic Association, vol. 22(1), pages 25-44, Winter.
    4. Hess, Thomas & Matt, Christian & Benlian, Alexander & Wiesböck, Florian, 2016. "Options for Formulating a Digital Transformation Strategy," Publications of Darmstadt Technical University, Institute for Business Studies (BWL) 82423, Darmstadt Technical University, Department of Business Administration, Economics and Law, Institute for Business Studies (BWL).
    5. Haffke, Ingmar & Kalgovas, Bradley & Benlian, Alexander, 2016. "The Role of the CIO and the CDO in an Organization’s Digital Transformation," Publications of Darmstadt Technical University, Institute for Business Studies (BWL) 83358, Darmstadt Technical University, Department of Business Administration, Economics and Law, Institute for Business Studies (BWL).
    6. 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).
    7. 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.
    8. Spyros Arvanitis & Euripidis Loukis, 2020. "Reduction of ICT Investment Due to the 2008 Economic Crisis and ICT-Enabled Innovation Performance of Firms," Journal of the Knowledge Economy, Springer;Portland International Center for Management of Engineering and Technology (PICMET), vol. 11(1), pages 1-27, March.
    9. Erik Bohlin & Aijaz A. Shaikh & Payam Hanafizadeh, 2018. "Social Network Banking: A Case Study of 100 Leading Global Banks," International Journal of E-Business Research (IJEBR), IGI Global, vol. 14(2), pages 1-13, April.
    10. Christian Haddad & Lars Hornuf, 2019. "The emergence of the global fintech market: economic and technological determinants," Small Business Economics, Springer, vol. 53(1), pages 81-105, June.
    11. 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).
    Full references (including those not matched with items on IDEAS)

    Citations

    Citations are extracted by the CitEc Project, subscribe to its RSS feed for this item.
    as


    Cited by:

    1. Shang, Xiaoting & Niu, Huayong, 2023. "Does the digital transformation of banks affect green credit?," Finance Research Letters, Elsevier, vol. 58(PB).
    2. Syed Imran Zaman & Sharfuddin Ahmed Khan & Sahar Qabool & Himanshu Gupta, 2023. "How digitalization in banking improve service supply chain resilience of e-commerce sector? a technological adoption model approach," Operations Management Research, Springer, vol. 16(2), pages 904-930, June.
    3. Zhao, Guoqing & Bi, Xiaohan & Zhai, Kun & Yuan, Xuemei, 2024. "Influence of digital transformation on banks’ systemic risk in China," Finance Research Letters, Elsevier, vol. 63(C).
    4. Songsong Cheng & Qunpeng Fan & Minghao Huang, 2023. "Strategic Orientation, Dynamic Capabilities, and Digital Transformation of Commercial Banks: A Fuzzy-Set QCA Approach," Sustainability, MDPI, vol. 15(3), pages 1-19, January.

    Most related items

    These are the items that most often cite the same works as this one and are cited by the same works as this one.
    1. Gong, Cheng & Ribiere, Vincent, 2021. "Developing a unified definition of digital transformation," Technovation, Elsevier, vol. 102(C).
    2. Berbel-Vera, Jose & Barrachina Palanca, Mercedes & Gonzalez-Sanchez, Maria Beatriz, 2022. "Key CDO functions for successful digital transformation: Insights from a Delphi study," Technological Forecasting and Social Change, Elsevier, vol. 181(C).
    3. Swen Nadkarni & Reinhard Prügl, 2021. "Digital transformation: a review, synthesis and opportunities for future research," Management Review Quarterly, Springer, vol. 71(2), pages 233-341, April.
    4. Ander, Veronika & Cihelka, Petr & Tyrychtr, Jan & Novák, David, 2022. "Towards Compromise User Experience Design in Ambient Intelligent Environment," AGRIS on-line Papers in Economics and Informatics, Czech University of Life Sciences Prague, Faculty of Economics and Management, vol. 14(2), June.
    5. Coskun-Setirek, Abide & Tanrikulu, Zuhal, 2021. "Digital innovations-driven business model regeneration: A process model," Technology in Society, Elsevier, vol. 64(C).
    6. Sascha Kraus & Paul Jones & Norbert Kailer & Alexandra Weinmann & Nuria Chaparro-Banegas & Norat Roig-Tierno, 2021. "Digital Transformation: An Overview of the Current State of the Art of Research," SAGE Open, , vol. 11(3), pages 21582440211, September.
    7. Piepponen, Amanda & Ritala, Paavo & Keränen, Joona & Maijanen, Päivi, 2022. "Digital transformation of the value proposition: A single case study in the media industry," Journal of Business Research, Elsevier, vol. 150(C), pages 311-325.
    8. Burström, Thommie & Parida, Vinit & Lahti, Tom & Wincent, Joakim, 2021. "AI-enabled business-model innovation and transformation in industrial ecosystems: A framework, model and outline for further research," Journal of Business Research, Elsevier, vol. 127(C), pages 85-95.
    9. Florian Diener & Miroslav Špaček, 2021. "Digital Transformation in Banking: A Managerial Perspective on Barriers to Change," Sustainability, MDPI, vol. 13(4), pages 1-27, February.
    10. Sodamin, Dino & Vaněk, Jiří & Ulman, Miloš & Šimek, Pavel, 2022. "Fair Label versus Blockchain Technology from the Consumer Perspective: Towards a Comprehensive Research Agenda," AGRIS on-line Papers in Economics and Informatics, Czech University of Life Sciences Prague, Faculty of Economics and Management, vol. 14(2), June.
    11. Abdul Karim Feroz & Hangjung Zo & Ananth Chiravuri, 2021. "Digital Transformation and Environmental Sustainability: A Review and Research Agenda," Sustainability, MDPI, vol. 13(3), pages 1-20, February.
    12. Saarikko, Ted & Westergren, Ulrika H. & Blomquist, Tomas, 2020. "Digital transformation: Five recommendations for the digitally conscious firm," Business Horizons, Elsevier, vol. 63(6), pages 825-839.
    13. Monica Molino & Claudio G. Cortese & Chiara Ghislieri, 2021. "Technology Acceptance and Leadership 4.0: A Quali-Quantitative Study," IJERPH, MDPI, vol. 18(20), pages 1-18, October.
    14. Fertő, Imre & Bojnec, Štefan & Podruzsik, Szilárd, 2022. "Do Subsidies Decrease the Farm Income Inequality in Hungary?," AGRIS on-line Papers in Economics and Informatics, Czech University of Life Sciences Prague, Faculty of Economics and Management, vol. 14(2), June.
    15. Cheng, Weixuan & Li, Cheng & Zhao, Tianjiao, 2024. "The stages of enterprise digital transformation and its impact on internal control: Evidence from China," International Review of Financial Analysis, Elsevier, vol. 92(C).
    16. Robert Fabac, 2022. "Digital Balanced Scorecard System as a Supporting Strategy for Digital Transformation," Sustainability, MDPI, vol. 14(15), pages 1-26, August.
    17. Tran, Lam Quynh Trang & Phan, Dai Thich & Herdon, Miklos & Kovacs, Levente, 2022. "Assessing the Digital Transformation in Two Banks: Case Study in Hungary," AGRIS on-line Papers in Economics and Informatics, Czech University of Life Sciences Prague, Faculty of Economics and Management, vol. 14(2), June.
    18. René Riedl & Alexander Benlian & Thomas Hess & Dirk Stelzer & Hermann Sikora, 2017. "On the Relationship Between Information Management and Digitalization," Business & Information Systems Engineering: The International Journal of WIRTSCHAFTSINFORMATIK, Springer;Gesellschaft für Informatik e.V. (GI), vol. 59(6), pages 475-482, December.
    19. Blanka, Christine & Krumay, Barbara & Rueckel, David, 2022. "The interplay of digital transformation and employee competency: A design science approach," Technological Forecasting and Social Change, Elsevier, vol. 178(C).
    20. Xin Zhang & Yaoyu Xu & Liang Ma, 2022. "Research on Successful Factors and Influencing Mechanism of the Digital Transformation in SMEs," Sustainability, MDPI, vol. 14(5), pages 1-18, February.

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:spr:jknowl:v:13:y:2022:i:2:d:10.1007_s13132-021-00759-0. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    If CitEc recognized a bibliographic reference but did not link an item in RePEc to it, you can help with this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Sonal Shukla or Springer Nature Abstracting and Indexing (email available below). General contact details of provider: http://www.springer.com .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.