Finance Digitalization and its impact on labour market

Narcisa Roxana Mosteanu

Technium Social Sciences Journal, 2020, vol. 8, issue 1, 598-605

Abstract: Finance digital transformation has become the most commonly used words in the last decade. Enhancing the efficiency and the survival of institutions is related to the adoption of innovation of digital changes. Redesigning the organizational structure of any institution starts with employees and their skills and competencies. This article aims to show how the process of digitalization of the financial system and the adoption of new technologies have changed the approach of the workplace, the way of doing business and redefined the parameters of the financial products and services offered. The research presents the challenges faced by organizational design in the banking industry and how the structure of employees it is changed. Starting to form financial institutions cases and extrapolating to the labour market, in general, the paper underlines the movements of the job market and the possible solutions to redirect the specialization curriculums in order to equip people with those qualifications and skills which will make them employable on the current digitalized business environment.

Keywords: Finance Digitalization; organizational structure; job skills and qualifications; labour market (search for similar items in EconPapers)
Date: 2020
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (1)

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Persistent link: https://EconPapers.repec.org/RePEc:tec:journl:v:8:y:2020:i:1:p:598-605

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