IMPACT OF INFORMATION TECHNOLOGY AND DIGITALIZATION ON BANKING STRATEGY PRE-COVID-19, CHALLENGES IN THE COVID ERA AND POST-COVID STAKES
Keywords:
Information Technology, Digitalization, Strategy, Banks, COVID-19.
Abstract
The spread of information technology and the digitalization of financial services raise a range of theoretical questions as the structures of the banking industry undergo change. This change has intensified with the impact of the COVID-19 pandemic which is already being observed. The purpose of this study is therefore threefold: (1) to analyze the impact of IT and the digitalization of financial services on the strategy and functioning of the pre-COVID-19 banking sector; (2) to study the challenges banks are facing in the COVID era in managing the crisis, and (3) to highlight post-COVID stakes. This study shows, on the one hand, that the crisis confirms the need for banks to combine physical proximity and digital offer, and on the other hand, that digitalization could be the solution for banks to consistently mitigate risks. Through this digital transformation and their ability to re-invent themselves, the banks would guard against potential similar crises. By adopting a more digitized and open behavior, they would be immune to such crises because they would have appropriate strategic plans, as they would be better equipped to counter the threats and better prepared to transform them into opportunities.
JEL Classification Codes: B26, B41, G21, G32, O32.
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Maloff, J. (1996). Measuring the Value of the Internet for Business. in Cronin M.J., The Internet Strategy Handook, Harvard Business School Press.
Malone, T. (1997). Modeling coordination in organizations and markets. Working paper, Sloan School of Management.
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Porter, M. E. (1980). Competitive strategy: techniques for analyzing industries and competition. New York, Free Press.
Porter, M. E., & Millar, V. (1985). How information gives you competitive advantage. Harvard Business Review, 63(4), 149-160.
Quintas, P. (1991). Engineering solutions to software problems: some institutional and social factors affecting change. Technology analysis and Strategic Management, 3, 359-376.
Reix, R. (1998). Information Systems and Management of Organizations. 2nd Edition, Vuibert Management, Paris, 405 pages.
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Venkatraman, N. (1995). Business reconfigurations brought about by information technology. in The competitive business of the future. Scott Morton M.S. (Ed.). Paris, Organizational Editions.
Batt, R. (1999). Work Organization, Technology and Performance in Customer Service and Sales. Industrial and Labor Relations Review, 52(4), 539-564.
Ben Romdhane, S. (2016). Impact of Information Technologies on Banking Performance. European University Editions, 465 pages.
Ben Romdhane, S. (2020). Tunisia in the Light of COVID-19: Technology Comes to the Rescue. International Journal of Managerial Studies and Research, 8(10), 63-64.
Bernstein, R. (2000). B-to-B companies go online as a matter of survival. Active Media Research.
Brynjolfsson, E., & Hitt, L. (2000). Beyond computation: information technology, organizational transformation and business performance. Journal of Economic Perspectives, 14(4), 23-48.
Clemons, E.K. (1991). Evaluation of strategic investments in information technology. Communication of the ACM, 34, 1-23.
Drucker, P. (1988). The Coming of the New Organization. Harvard Business Review, 66(1), 45-53.
El Idrissi, A. (2000). The influence of information and communication technologies on the structures and functioning of banks. Conference : Corporate communication, crossed perspectives, Management sciences – Communication Sciences, December 6 and 7, Nice (Conference proceedings), 194-202.
Evans, B. (2000). E-commerce: Reality Bites. Information Week Online, 5 June.
Frances, Z., Harker, P.T., & Hunter, L.W. (2000). Inside the Black Box: What Makes a Bank Efficient?. In Patrick T. Harker and Stayios A. Zenios, eds, The Performance of Financial Institutions, Cambridge: Cambridge University Press.
Girish, G.P, & Ghosh, S. (2020). Dynamics between Digital Visibility through Social Media Marketing and Crowdfunding: Path to Succeed in Entrepreneurship. Indian Journal of Finance and Banking, 4(2), 28-37.
Krings, W. (2020). Impacting the B2B-Business Development Process: Social Media Usage within a Global Software Environment. International Journal of Accounting & Finance Review, 5(1), 1-11.
Lahittete, M. (1999). Does the use of ICT reduce the costs of organizations? Doctoral studies from the GDR TIC and Society, January 28-29.
Lamouline, O. (1998). Technological innovation in credit institutions and insurance companies. SESSI, 95, November. Retrieved from www.industrie.gouv.fr
Laudon, K.C., & Laudon, J.P. (2006). Information system management. 9th Edition Eric Fimbel, Pearson Education, France, 638 pages.
Lemaître, P. (1997). The challenges of remote banking. Banque, 587, 63-65.
Lemarque, P. (1999). The key activities of the banking professions : An analysis by the value chain. Finance Control Strategy, 2, 135-158.
Limayem, M., & Haloui, N. (1997). The Impact of Information Technology Investment on Business Performance: A New Vision. FSA working document, University of Laval 8.
Limayem, M., Poisson, M.A., & Dhrif, H. (1998). Impact of Internet use on organizational performance. FSA working document, University of Laval 8.
Maloff, J. (1996). Measuring the Value of the Internet for Business. in Cronin M.J., The Internet Strategy Handook, Harvard Business School Press.
Malone, T. (1997). Modeling coordination in organizations and markets. Working paper, Sloan School of Management.
Morris, T. (1986). Innovation in banking. RLE (Banking and Finance), 1st Edition, London, 148 pages.
Porter, M. E. (1980). Competitive strategy: techniques for analyzing industries and competition. New York, Free Press.
Porter, M. E., & Millar, V. (1985). How information gives you competitive advantage. Harvard Business Review, 63(4), 149-160.
Quintas, P. (1991). Engineering solutions to software problems: some institutional and social factors affecting change. Technology analysis and Strategic Management, 3, 359-376.
Reix, R. (1998). Information Systems and Management of Organizations. 2nd Edition, Vuibert Management, Paris, 405 pages.
Riddle, D.I. (2001). Business Case Framework for E-Business Adoption in Small Banks. Business Case Framework, Foundation of Canadian Woman Entrepreneurs, 1-38.
Roman, B., & Tchibozo, A. (2017). Transforming banking: Banking strategies in the digital age. Dunod Editions, 2017.
Selase, A. M., & Selase, A. E. (2019). The Pros and Cons of Adopting Technology as a Business Pilot: Global Perspective. Indian Journal of Finance and Banking, 3(2), 1-4.
Teru, S. P., Idoko, I. F., & Bello, L. (2019). The Impact of E - Accounting in Modern Businesses. International Journal of Accounting & Finance Review, 4(2), 1-4.
Teru, S. P., Idoku, I., & Ndeyati, J. T. (2017). A Review of the Impact of Accounting Information System for Effective Internal Control on Firm Performance. Indian Journal of Finance and Banking, 1(2), 52-59.
Venkatraman, N. (1995). Business reconfigurations brought about by information technology. in The competitive business of the future. Scott Morton M.S. (Ed.). Paris, Organizational Editions.
Published
2021-04-09
How to Cite
Romdhane, S. B. (2021). IMPACT OF INFORMATION TECHNOLOGY AND DIGITALIZATION ON BANKING STRATEGY PRE-COVID-19, CHALLENGES IN THE COVID ERA AND POST-COVID STAKES. International Journal of Accounting & Finance Review, 6(2), 60-73. https://doi.org/10.46281/ijafr.v6i2.1068
Section
Research Paper/Theoretical Paper/Review Paper/Short Communication Paper
Copyright (c) 2021 Syrine Ben Romdhane
This work is licensed under a Creative Commons Attribution 4.0 International License.
