Digital Transformation in Banking: A Managerial Perspective on Barriers to Change

The digitalisation of banks is seen as the omnipresent challenge which banking industry currently facing. In this digital change process, are facing disruptive innovation that requires adaptation almost all cooperative processes. Digital transformation in financial associated with obstacles seem to hinder smooth implementation approaches. This issue has not been adequately addressed current academic literature. main purpose qualitative exploratory study identify perceived both private and commercial sectors from a managerial point view analyse them accordingly. methodology based on methodological approach using combination contextual interviews German board members banks, inductive content analysis, exploration best-practice findings revealed elements strategy management, technology regulation, customers, employees receive high level attention within transformation. other barriers can be found areas market knowledge products, employee customer participation, public benefit. Each barrier characterised by several sub-barriers varying importance for described detail.