Digital transformation in Japan’s banking industry

Eiichiro Yanagawa
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Eiichiro Yanagawa: Senior Analyst in the Asian Financial Services Group, Celent, The Imperial Hotel Tower 13F 1-1-1 Uchisaiwai-cho, Chiyoda-ku, Tokyo 100-0011, Japan

Journal of Payments Strategy & Systems, 2018, vol. 12, issue 4, 351-364

Abstract: The emergence of digital has brought massive change to both the demand (consumer) side of financial services as well as the supply side (financial institutions). Financial institutions must not only understand these developments but also the work required to find new business models and IT solutions to manage them. When it comes to such modernisation projects, this paper advocates the following: (1) watch the market vigilantly; (2) focus on the customer experience; (3) bring flexibility to investments; (4) ensure digitisation contributes to increased revenue; and (5) formulate a roadmap focused on essential concrete resources and know- how rather than vague ideas of functionality that would be nice to have.

Keywords: customer expectations; regulation; digital era; frictionless processes; banking industry paradigm; modular core banking (search for similar items in EconPapers)
JEL-codes: E5 G2 (search for similar items in EconPapers)
Date: 2018
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Citations: View citations in EconPapers (1)

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Persistent link: https://EconPapers.repec.org/RePEc:aza:jpss00:y:2018:v:12:i:4:p:351-364

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