Successful Digital Transformation in Finance. Customer-Centricity and Future Business Models Beyond Smart Technologies


Bachelor Thesis, 2023

107 Pages, Grade: 100


Abstract or Introduction

The financial sector is undergoing a profound transformation driven by digitalization and technological advancements. In this dynamic landscape, financial institutions are reassessing their strategies to stay competitive. The integration of smart technologies and the pursuit of customer-centric business models are key elements in this transformative journey.

As technology reshapes traditional paradigms, the financial industry experiences a seismic shift towards digital transformation. Fintech's emergence and the importance of smart services redefine operations, challenge business models, and create avenues for innovation. This literature review explores the theoretical framework of digital transformation, dissecting definitions, and explaining its impact on finance.

The review investigates future business models in finance, emphasizing their digital aspects and the delicate balance between replication and innovation. Shifting focus to customers, it explores the evolving concept of customer-centricity and the role of customers as co-creators in business models. Integration of customers with smart technology becomes a critical aspect, examining technology acceptance and the role of empathic AI.

Methodologically, the review outlines a systematic approach, including the identification of relevant research databases, search keywords, and meticulous study selection. The results section uncovers gaps, perspectives, and recommendations in existing literature, providing a foundation for discussion.

The discussion navigates barriers hindering customer acceptance of smart technology, explores factors in implementing customer-centric business models, and delves into building trust in the digital era. The paper concludes by outlining future research directions and offering practical insights for financial institutions.

In essence, this review serves as a compass through the complex terrain of digital transformation in finance, unraveling future business models, customer-centricity, and the integration of smart technologies. It contributes valuable insights to academics, practitioners, and decision-makers in the financial industry.

Details

Title
Successful Digital Transformation in Finance. Customer-Centricity and Future Business Models Beyond Smart Technologies
College
University of Applied Sciences Bern  (Bern university of applied sciences)
Course
Digital Business Management
Grade
100
Author
Year
2023
Pages
107
Catalog Number
V1438752
ISBN (eBook)
9783346999023
ISBN (Book)
9783346999030
Language
English
Notes
This work has gotten a perfect grade. It is very needed for the future research and summarised the current situation of the world concerning digitalisation. With Academic Plus, GRIN offers its own imprint for outstanding theses from various subject areas. All titles are reviewed and selected by the GRIN editorial team. In their publications, our authors address current topics and issues that are at the center of social discussions. They provide well-founded information, precise analyses and concrete solutions for science and research.
Keywords
digital transformation, Fintech, AI, literature review, digital finance, innovation, business models, customer integration, smart technologies, customer acceptance
Quote paper
Houssem Gharbi (Author), 2023, Successful Digital Transformation in Finance. Customer-Centricity and Future Business Models Beyond Smart Technologies, Munich, GRIN Verlag, https://www.grin.com/document/1438752

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