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2020 | OriginalPaper | Chapter

Impact of Digital Transformation on Retail Banking Industry in the UAE

Authors : Umesh Kothari, A. Seetharaman

Published in: Re-imagining Diffusion and Adoption of Information Technology and Systems: A Continuing Conversation

Publisher: Springer International Publishing

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Abstract

The UAE’s banking industry has emerged as one of the most dynamic in the region, and the largest financial center in the Middle East. The industry has been confronted with ‘digital disruption’, ‘digitization’ ‘digital banking’. The key reasons for digitization in addition to competitiveness include improved banking efficiency, attracting and retaining customers, improving analytics, launching innovative services and enhancing customer experience. However, organizations struggle with the implementation of digitalization initiatives and fall behind in achieving their plans. There is very limited literature written on the research to study impact of digital transformation on the retail banking industry in the UAE. Moreover, it is based on secondary research. This study aims to identify the variables that drive digital transformation and study the impact of digital transformation in Retail Banking Industry in the UAE. The results of the study show that customer needs, technology, regulation, business processes, skills and competencies impact digital transformation and should support retail banks in developing a theory of digital transformation in their journey to excel in a competitive marketplace.

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Title: Impact of Digital Transformation on Retail Banking Industry in the UAE
Authors: Umesh Kothari
A. Seetharaman
Publisher: Springer International Publishing
Book: Re-imagining Diffusion and Adoption of Information Technology and Systems: A Continuing Conversation
Print ISBN: 978-3-030-64848-0

Electronic ISBN: 978-3-030-64849-7

Copyright Year: 2020
DOI: https://doi.org/10.1007/978-3-030-64849-7_38

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