Digitalization as a Determinant of Changes in the Structure of Europe’s Banking Sector
Journal Title: Zeszyty Naukowe Wydziału Zamiejscowego w Chorzowie Wyższej Szkoły Bankowej w Poznaniu - Year 2016, Vol 18, Issue
Abstract
The aim of the paper is to take a closer look at the digitization process taking place in the European banking sector, and to highlight the threats that it brings to traditional banking. The author breaks the process down into stages, outlining changes to the banking sector’s structure occurring at each stage in the wake of the digital revolution. Based on this analysis, an attempt is made to address the question of where the evolution of banks should actually be headed and what kind of strategy would suit them best: should the industry move toward digital banking, or should it endeavor for an optimal blend of traditional banking and its core values with the benefits of new technologies embodied by FinTech (involving all kinds of interactive platforms). In fact, some financial institutions have already begun the transition, transforming their business toward solutions powered by digital platforms.
Authors and Affiliations
Joanna Żabińska
Keywords
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