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Final BT Irina Leanco.pdf
Bachelor thesis

Analysis of the changing consumer behaviour regarding the digital transformation of banking services in french-speaking Switzerland

SONAR|HES-SO

  • Genève : Haute école de gestion de Genève

90 p.

Bachelor of Science HES in International Business Management: Haute école de gestion de Genève, 2021

English The competition in the Swiss banking industry is undeniably challenging. The main feature, such as the high level of privacy and secrecy that made the Swiss banking system unique, is no longer as strong as it was before as the new legislation of the Federal Tax Administration (FTA) of Switzerland has officially started exchanging bank account data with other tax authorities. Consequently, in the age of low margins and negative interests, Swiss banks shall adjust and differentiate their business models depending on evolving consumer behavior to find new revenue streams and elaborate on a new strategy to handle competition (First Data, 2014). The main area thought to create the greatest source of competitive differentiation within the banking industry is developing a successful digital transformation. This study researches the application of digital in all aspects of a bank, including organizational culture, process digitization, product innovation, customer serving, development of FinTech, and possible impediments to the digitization and banking customers’ changed behavior. Despite the importance of digital in the last two decades, this paper reveals that the digital transformation in Swiss banks has not been treated in much detail. The modest published data on Swiss banks’ digital transformation is somewhat controversial, and there is no general agreement about their level and attitude towards digital. However, extensive research has shown that banks are particularly suited to provide a digital experience to their customers, as they can enjoy large customer bases and a high amount of data per customer. Therefore, this study will research what has prevented Swiss Banks from faster and more widespread adoption of digital in their customer journey, in addition to other application areas. This thesis will examine how customer behavior changes and provide new insights into the customer experience by focusing exclusively on millennials. Additionally, the study aims to contribute to this growing area of research by exploring the current level of digital maturity of Swiss banks and defining potential threats using a qualitative study approach. A growing body of literature recognizes the latest changes in customer behavior due to digitalization. It brings in the transformation of customers' experience as the most important factor for a successful digital transformation of banks. A holistic approach is utilized in this thesis, integrating survey data exploration, in-depth interviews analysis, and literature material to establish the factors that the Swiss banking industry needs to consider when deciding on their steps towards digital transformation.
Language
  • English
Classification
Economics
Notes
  • Haute école de gestion Genève
  • International Business Management
  • hesso:hegge
Persistent URL
https://sonar.ch/global/documents/319781
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