Janka Pásztorová
University of Economics in Bratislava, Faculty of Commerce, Dolnozemská cesta 1, 852 35, Bratislava 5, Slovakia
DOI: https://doi.org/10.31410/ITEMA.2018.469
2nd International Scientific Conference on Recent Advances in Information Technology, Tourism, Economics, Management and Agriculture – ITEMA 2018 – Graz, Austria, November 8, 2018, CONFERENCE PROCEEDINGS published by the Association of Economists and Managers of the Balkans, Belgrade, Serbia; ISBN 978-86-80194-13-4
2nd International Scientific Conference on Recent Advances in Information Technology, Tourism, Economics, Management and Agriculture – ITEMA 2018 – Graz, Austria, November 8, 2018, CONFERENCE PROCEEDINGS published by the Association of Economists and Managers of the Balkans, Belgrade, Serbia; ISBN 978-86-80194-13-4
Abstract
Digitalization changes the relations structure in the banking sector and the business model of traditional banking, which becomes unsustainable, as combinations of new technologies and processes tears down the barriers between industry sectors, thus opening the financial market. This requires a change in business models, with trust of customer being an important factor of innovations success. This paper discusses the change of business models in banking sector in the context of Digitalization.
Key words
Digitalization, Traditional Bank, FinTech, Business Model
References
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[9] Deloitte (2018) Closing the gap in fintech collaboration, pp.6. [online] Available at: https://www2.deloitte.com/content/dam/Deloitte/us/Documents/financial-services/us-fsi-dcfs-fintech-collaboration.pdf
[10] EBA (2018) The EBA’S Fintech Roadmap. [online] Available at: https://eba.europa.eu/documents/10180/1919160/EBA+FinTech+Roadmap.pdf
[11] EY (2017) Global banking outlook 2018. [online] Available at: https://www.ey.com/Publication/vwLUAssets/ey-global-banking-outlook-2018/$File/ey-global-banking-outlook-2018.pdf
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[13] Kavadias, S., Ladas, K. ad Loch C. (2016) The Transformative Business Model, In: Harvard Business Review, October 2016 issue, pp.44–53. [online] Available at: https://hbr.org/2016/10/the-transformative-business-model
[14] Olsen, T. et al. (2017) New Bank Strategies Require New Operating Models, Bain&Company. [online] Available at: https://www.bain.com/insights/new-bank-strategies-require-new-operating-models/
[15] Galaski, R., McWaters, R.,J. (2017) Beyond Fintech: A Pragmatic Assessment of Disruptive Potential in Financial Services, WEF and Deloitte, August 2017. [online] Available at: https://www2.deloitte.com/content/dam/Deloitte/sk/Documents/financial-services/Beyond_Fintech_-_A_Pragmatic_Assessment_of_Disruptive_Potential_in_Financial_Services.pdf
[16] Subhaj, D. (2017) Digitization, FinTech and the future of retail banking, Cristensen Institute. [online] Available at: https://www.christenseninstitute.org/wp-content/uploads/2017/06/Digitization-FinTech-and-the-future-of-retail-banking-1.pdf
[17] WEF (2015) The Future of Financial Services – How disruptive innovations are reshaping the way financial services are structured, provisioned and consumed. [online] Available at: https://www3.weforum.org/docs/WEF_The_future of_financial_services.pdf
