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Digital Reflections on the Banking Organization

Stefan Vachkov ()
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Stefan Vachkov: University of Economics - Varna

An Annual Book of University of Economics - Varna, 2016, vol. 88, issue 1, 129-230

Abstract: Under the influence of digital technology, towards the original business territories of banks there advance aggressive competitors, offering financial services in a totally different context. Highly worried by this invasion, the governing bodies of the safety vaults−naturally inert with regard to innovation − are forced to undertake radical organizational changes, which would guarantee fast "conductivity" and effectiverealization of their client-centred strategy for "digital travel". For that purpose there needsto be "constructed" a "more elegant" organization structure with competent bodies andteams, which will "translate" digital innovations to each business sector. In parallel withthat, the transition to the "new normal" imposes the need for digitization of processes inkey areas, where customers will receive "customized" services of high functionality and human touch.

Keywords: digital technology; Banking Organization; human touch; digital innovations (search for similar items in EconPapers)
JEL-codes: G21 (search for similar items in EconPapers)
Date: 2016
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