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Digital transformation strategies in the financial services sector
University of edinburgh MA Social Policy and Economics, United Kingdom.
Research Article
International Journal of Science and Research Archive, 2024, 13(02), 1407–1415.
Article DOI: 10.30574/ijsra.2024.13.2.1939
Publication history:
Received on 04 October 2024; revised on 21 November 2024; accepted on 24 November 2024
Abstract:
The main objective of this research is to conduct a thorough analysis of the digital transformation tactics employed in the specific subsector of the financial services industry that has been selected for study. The objective of this study is to provide a comprehensive analysis of the distinct problems, opportunities, and repercussions that are linked to the process of digital transformation within this particular subsector. Through this endeavor, this research provides a valuable contribution to the existing body of knowledge in this particular domain, thereby enabling industry leaders, policymakers, and other relevant stakeholders to make more well-informed decisions., a mixed-methods research design was used in this study. This technique integrates qualitative and quantitative methodologies to offer a holistic comprehension of digital transformation initiatives within a specific subsector of the financial services industry. The results of this research underscore the significance of digital transformation initiatives in improving consumer experiences, meeting regulatory requirements, and capitalizing on technical progress. The obstacles that have been identified, such as the need to comply with regulations and address cybersecurity issues, highlight the intricate environment that financial institutions must navigate. Furthermore, the acknowledgment of customer-centric approaches and the significance of data analytics and personalization validate the industry's ability to adjust to client preferences and competitive dynamics.
Keywords:
Digital Transformation; Financial Services; Financial Services Sector; Consumer Experiences; Digital Technologies
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Copyright information:
Copyright © 2024 Author(s) retain the copyright of this article. This article is published under the terms of the Creative Commons Attribution Liscense 4.0
