Strategic Implications of Digitalisation and FinTechs for Traditional Business Models of the Financial Service Industry – An empirical Study of Banking

Banking is becoming more and more digital. Consequently, traditional business models are faced with new technology and competitors (so-called FinTechs). Thus, traditional bank business models are coming under pressure. So far, practice and science have not examined an approach to analyse respective barriers within the process of adaption of digital approaches in banking.
This project focuses on the determination of implementation barriers in the banking sector. By interviewing internal and external bank experts qualitatively implementation barriers will be derived, which, in turn, will be validated quantitatively via a structural equation model.
The project should lead to a normative model that supports (1) practice (the managers and bank institutes) within the process of adjustment to digitalisation and (2) science with a first approach and likewise a model to identify and analyse implementation barriers of digitalisation in financial services, which, in turn, is applicable to other fields of industry.