Influence of Digital Transformation on the Banking Industry

Abstract

The adoption of digital banking services is driven by factors like time-saving, convenience, accessibility, and security, influencing customer decisions. Many respondents use these services multiple times a week, with mobile and online banking identified as the most valuable digital offerings. Overall, customer satisfaction is high, though challenges such as technical issues, connectivity problems, limited functionality, security concerns, communication issues, and confusing user interfaces persist. Addressing these challenges is vital for enhancing the overall customer experience.While the perceived security level in digital banking is generally positive, continuous efforts are needed to bolster security measures and maintain customer trust. The impact of digital transformation on the banking sector has led to improved convenience, time efficiency, and accessibility, significantly enhancing the overall banking experience. However, opportunities for further improvement exist, particularly in addressing technical issues, enhancing functionality, and providing clearer communication.In response to these findings, the banking industry is urged to prioritize investments in technology, security, and user experience. By addressing customer concerns, delivering seamless digital services, and fostering ongoing innovation, banks can maximize the advantages of digital transformation, ensuring a positive and satisfying banking experience for their customers. © 2024 IEEE.