Successful Digital Transformation In Finance Customer Centricity And Future Business Models Beyond Smart Technologies

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Successful Digital Transformation in Finance. Customer-Centricity and Future Business Models Beyond Smart Technologies

Author : Houssem Gharbi
Publisher : GRIN Verlag
Page : 113 pages
File Size : 48,5 Mb
Release : 2024-01-24
Category : Business & Economics
ISBN : 9783346999023

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Successful Digital Transformation in Finance. Customer-Centricity and Future Business Models Beyond Smart Technologies by Houssem Gharbi Pdf

Bachelor Thesis from the year 2023 in the subject Economics - Finance, grade: 100, University of Applied Sciences Bern (Bern university of applied sciences), course: Digital Business Management, language: English, abstract: The financial sector is undergoing a profound transformation driven by digitalization and technological advancements. In this dynamic landscape, financial institutions are reassessing their strategies to stay competitive. The integration of smart technologies and the pursuit of customer-centric business models are key elements in this transformative journey. As technology reshapes traditional paradigms, the financial industry experiences a seismic shift towards digital transformation. Fintech's emergence and the importance of smart services redefine operations, challenge business models, and create avenues for innovation. This literature review explores the theoretical framework of digital transformation, dissecting definitions, and explaining its impact on finance. The review investigates future business models in finance, emphasizing their digital aspects and the delicate balance between replication and innovation. Shifting focus to customers, it explores the evolving concept of customer-centricity and the role of customers as co-creators in business models. Integration of customers with smart technology becomes a critical aspect, examining technology acceptance and the role of empathic AI. Methodologically, the review outlines a systematic approach, including the identification of relevant research databases, search keywords, and meticulous study selection. The results section uncovers gaps, perspectives, and recommendations in existing literature, providing a foundation for discussion. The discussion navigates barriers hindering customer acceptance of smart technology, explores factors in implementing customer-centric business models, and delves into building trust in the digital era. The paper concludes by outlining future research directions and offering practical insights for financial institutions. In essence, this review serves as a compass through the complex terrain of digital transformation in finance, unraveling future business models, customer-centricity, and the integration of smart technologies. It contributes valuable insights to academics, practitioners, and decision-makers in the financial industry.

Digital Transformation: Advancements in Business

Author : Madhu S. Mallisetty
Publisher : Book Saga Publications
Page : 302 pages
File Size : 54,9 Mb
Release : 2023-12-25
Category : Business & Economics
ISBN : 9789395470827

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Digital Transformation: Advancements in Business by Madhu S. Mallisetty Pdf

"Digital Transformation: Advancements in Business" is a comprehensive exploration of the transformative impact of digital technologies on the business world. The book begins by introducing the concept of digital transformation, explaining its significance in the current business environment. It then delves into the foundational elements necessary for successful digital transformation, including technologies, strategies, and frameworks. A historical perspective is provided, tracing the evolution of digital transformation and its effects across various sectors. A significant focus is given to FinTech and the transformation of financial services, highlighting how digital innovations are revolutionizing this sector. The impact of digital transformation on operations, supply chains, and organizational culture is also discussed, emphasizing the role of leadership in adapting to technological changes. The human aspect is addressed, with an exploration of the workforce and skills required for effective digital transformation. The book also tackles the challenges and risks associated with digital transformation, including technological and operational hurdles. It examines core technologies driving change and looks at how digital marketing strategies are evolving in response to new consumer behaviors. A deeper dive into FinTech reveals its influence on traditional financial services, introducing concepts like neo-banks, mobile payments, and digital lending. Finally, the book outlines major trends in FinTech, such as open banking, big data, robotic process automation, AI, and blockchain, and discusses FinTech's growth in emerging markets and future prospects. Overall, the book provides a nuanced view of digital transformation, covering technological aspects as well as human, leadership, and strategic dimensions.

What's Your Digital Business Model?

Author : Peter Weill,Stephanie Woerner
Publisher : Harvard Business Press
Page : 256 pages
File Size : 43,6 Mb
Release : 2018-04-17
Category : Business & Economics
ISBN : 9781633692718

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What's Your Digital Business Model? by Peter Weill,Stephanie Woerner Pdf

Digital transformation is not about technology--it's about change. In the rapidly changing digital economy, you can't succeed by merely tweaking management practices that led to past success. And yet, while many leaders and managers recognize the threat from digital--and the potential opportunity--they lack a common language and compelling framework to help them assess it and guide them in responding. They don't know how to think about their digital business model. In this concise, practical book, MIT digital research leaders Peter Weill and Stephanie Woerner provide a powerful yet straightforward framework that has been field-tested globally with dozens of senior management teams. Based on years of study at the MIT Center for Information Systems Research (CISR), the authors find that digitization is moving companies' business models on two dimensions: from value chains to digital ecosystems, and from a fuzzy understanding of the needs of end customers to a sharper one. Looking at these dimensions in combination results in four distinct business models, each with different capabilities. The book then sets out six driving questions, in separate chapters, that help managers and executives clarify where they are currently in an increasingly digital business landscape and highlight what's needed to move toward a higher-value digital business model. Filled with straightforward self-assessments, motivating examples, and sharp financial analyses of where profits are made, this smart book will help you tackle the threats, leverage the opportunities, and create winning digital strategies.

Customer Value Generation in Banking

Author : Stefanie Auge-Dickhut,Bernhard Koye,Axel Liebetrau
Publisher : Springer
Page : 195 pages
File Size : 53,7 Mb
Release : 2015-07-17
Category : Business & Economics
ISBN : 9783319199382

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Customer Value Generation in Banking by Stefanie Auge-Dickhut,Bernhard Koye,Axel Liebetrau Pdf

The banking sector is undergoing a process of fundamental transformation – mainly due to the challenges of digitalization, insistent customers, regulation and a volatile economic environment. This book provides an in-depth understanding of the underlying logic of 21st century’s banking environment and helps to develop a roadmap for the successful transformation of contemporary business models. The authors introduce the ‘Zurich model for a customer-centric banking architecture enabling the reader to develop a sustainable business model which copes with the challenges of this information age. They identify customer behavior traps in such an environment; introduce adequate strategic instruments and cornerstones for providing added value through financial services, and provide core factors for conducting a successful transformation process.

Marketing Communications

Author : PR Smith,Ze Zook
Publisher : Kogan Page Publishers
Page : 761 pages
File Size : 47,8 Mb
Release : 2024-03-03
Category : Business & Economics
ISBN : 9781398611726

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Marketing Communications by PR Smith,Ze Zook Pdf

Full marketing integration is vital in establishing effective marketing initiatives. This newly updated, clear and accessible textbook provides students and practitioners with the skills they need to deliver successful campaigns for the modern consumer. The 8th edition of Marketing Communications continues to be a core resource covering all aspects of marketing from the planning stages and implementation to measuring data and campaign performance. Explore how to navigate buyer behaviour, social selling, PR campaigns, big data, marketing automation and more with this complete textbook. Learn through current, real-world case studies from global companies such as TikTok and Spotify and explore what it takes to build a truly integrated, successful marketing plan. Incorporating branding, customer journey, advertising and more, Marketing Communications also provides in depth content on the legal requirements you need to develop your strategy including all you need to know about new GDPR rules and 3rd party data. New to this edition, it includes information on the ongoing impact of AI in all aspects of marketing communications ensuring that you have all the tools necessary to reach the modern consumer while utilizing the latest industry technologies. This book will give readers the confidence to work in an environment of constant technological transformation and build the core skills they need as marketers to create fully integrated strategies and successful campaigns.

Artificial Intelligence in Banking

Author : Introbooks
Publisher : Unknown
Page : 50 pages
File Size : 48,5 Mb
Release : 2020-04-07
Category : Electronic
ISBN : 9798634736815

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Artificial Intelligence in Banking by Introbooks Pdf

In these highly competitive times and with so many technological advancements, it is impossible for any industry to remain isolated and untouched by innovations. In this era of digital economy, the banking sector cannot exist and operate without the various digital tools offered by the ever new innovations happening in the field of Artificial Intelligence (AI) and its sub-set technologies. New technologies have enabled incredible progression in the finance industry. Artificial Intelligence (AI) and Machine Learning (ML) have provided the investors and customers with more innovative tools, new types of financial products and a new potential for growth.According to Cathy Bessant (the Chief Operations and Technology Officer, Bank of America), AI is not just a technology discussion. It is also a discussion about data and how it is used and protected. She says, "In a world focused on using AI in new ways, we're focused on using it wisely and responsibly."

Digital Entrepreneurship

Author : Mariusz Soltanifar,Mathew Hughes,Lutz Göcke
Publisher : Springer Nature
Page : 339 pages
File Size : 53,8 Mb
Release : 2020-11-13
Category : Business & Economics
ISBN : 9783030539146

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Digital Entrepreneurship by Mariusz Soltanifar,Mathew Hughes,Lutz Göcke Pdf

This open access book explores the global challenges and experiences related to digital entrepreneurial activities, using carefully selected examples from leading companies and economies that shape world business today and tomorrow. Digital entrepreneurship and the companies steering it have an enormous global impact; they promise to transform the business world and change the way we communicate with each other. These companies use digitalization and artificial intelligence to enhance the quality of decisions and augment their business and customer operations. This book demonstrates how cloud services are continuing to evolve; how cryptocurrencies are traded in the banking industry; how platforms are created to commercialize business, and how, taken together, these developments provide new opportunities in the digitalized era. Further, it discusses a wide range of digital factors changing the way businesses operate, including artificial intelligence, chatbots, voice search, augmented and virtual reality, as well as cyber threats and data privacy management. “Digitalization mirrors the Industrial Revolution’s impact. This book provides a complement of perspectives on the opportunities emanating from such a deep seated change in our economy. It is a comprehensive collection of thought leadership mapped into a very useful framework. Scholars, digital entrepreneurs and practitioners will benefit from this timely work.” Gina O’Connor, Professor of Innovation Management at Babson College, USA “This book defines and delineates the requirements for companies to enable their businesses to succeed in a post-COVID19 world. This book deftly examines how to accomplish and achieve digital entrepreneurship by leveraging cloud computing, AI, IoT and other critical technologies. This is truly a unique “must-read” book because it goes beyond theory and provides practical examples.” Charlie Isaacs, CTO of Customer Connection at Salesforce.com, USA "This book provides digital entrepreneurs useful guidance identifying, validating and building their venture. The international authors developed new perspectives on digital entrepreneurship that can support to create impact ventures.” Felix Staeritz, CEO FoundersLane, Member of the World Economic Forum Digital Leaders Board and bestselling author of FightBack, Germany

Information Systems Research

Author : Bonnie Kaplan,Duane P. Truex,David Wastell,A.Trevor Wood-Harper,Janice I. DeGross
Publisher : Springer
Page : 745 pages
File Size : 45,5 Mb
Release : 2006-04-11
Category : Business & Economics
ISBN : 9781402080951

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Information Systems Research by Bonnie Kaplan,Duane P. Truex,David Wastell,A.Trevor Wood-Harper,Janice I. DeGross Pdf

Information Systems Research: Relevant Theory and Informed Practice comprises the edited proceedings of the WG8.2 conference, "Relevant Theory and Informed Practice: Looking Forward from a 20-Year Perspective on IS Research," which was sponsored by IFIP and held in Manchester, England, in July 2004. The conference attracted a record number of high-quality manuscripts, all of which were subjected to a rigorous reviewing process in which four to eight track chairs, associate editors, and reviewers thoughtfully scrutinized papers by the highly regarded as well as the newcomers. No person or idea was considered sacrosanct and no paper made it through this process unscathed. All authors were asked to revise the accepted papers, some more than once; thus, good papers got better. With only 29 percent of the papers accepted, these proceedings are significantly more selective than is typical of many conference proceedings. This volume is organized in 7 sections, with 33 full research papers providing panoramic views and reflections on the Information Systems (IS) discipline followed by papers featuring critical interpretive studies, action research, theoretical perspectives on IS research, and the methods and politics of IS development. Also included are 6 panel descriptions and a new category of "bright idea" position papers, 11 in all, wherein main points are summarized in a pithy and provocative fashion.

Digital and Social Media Marketing

Author : Nripendra P. Rana,Emma L. Slade,Ganesh P. Sahu,Hatice Kizgin,Nitish Singh,Bidit Dey,Anabel Gutierrez,Yogesh K. Dwivedi
Publisher : Springer Nature
Page : 337 pages
File Size : 55,8 Mb
Release : 2019-11-11
Category : Business & Economics
ISBN : 9783030243746

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Digital and Social Media Marketing by Nripendra P. Rana,Emma L. Slade,Ganesh P. Sahu,Hatice Kizgin,Nitish Singh,Bidit Dey,Anabel Gutierrez,Yogesh K. Dwivedi Pdf

This book examines issues and implications of digital and social media marketing for emerging markets. These markets necessitate substantial adaptations of developed theories and approaches employed in the Western world. The book investigates problems specific to emerging markets, while identifying new theoretical constructs and practical applications of digital marketing. It addresses topics such as electronic word of mouth (eWOM), demographic differences in digital marketing, mobile marketing, search engine advertising, among others. A radical increase in both temporal and geographical reach is empowering consumers to exert influence on brands, products, and services. Information and Communication Technologies (ICTs) and digital media are having a significant impact on the way people communicate and fulfil their socio-economic, emotional and material needs. These technologies are also being harnessed by businesses for various purposes including distribution and selling of goods, retailing of consumer services, customer relationship management, and influencing consumer behaviour by employing digital marketing practices. This book considers this, as it examines the practice and research related to digital and social media marketing.

When Digital Becomes Human

Author : Steven Van Belleghem
Publisher : Kogan Page Publishers
Page : 208 pages
File Size : 46,5 Mb
Release : 2015-04-03
Category : Business & Economics
ISBN : 9780749473242

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When Digital Becomes Human by Steven Van Belleghem Pdf

WINNER: CMI Management Book of the Year Awards 2016 - Commuter's Read Category In an age when customers have access to vast amounts of data about a company, its product and its competitors, customer experience becomes increasingly important as a sustainable source of competitive advantage. But success doesn't just rely on digital engagement and excellence, but also on combining a digital-first attitude with a human touch. In When Digital Becomes Human, Steven Van Belleghem explores and explains the new digital relationships. Packed with global examples from organizations that have successfully transformed their customer relationships, such as Amazon, Toyota, ING, Coolblue, Nike and Starbucks, When Digital Becomes Human presents a clear model that companies can easily implement to integrate an emotional layer into their digital strategy. This guide to combining two of a business's most important assets - its people and its digital strengths - covers the latest issues in digital marketing and customer experience management, including omnichannel and multichannel experiences, big data and predictive analytics, privacy concerns, customer collaboration (ie crowdsourcing) and more.

The Digital Matrix

Author : Venkat Venkatraman
Publisher : LifeTree Media
Page : 308 pages
File Size : 55,7 Mb
Release : 2023-03-07
Category : Business & Economics
ISBN : 9781637560211

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The Digital Matrix by Venkat Venkatraman Pdf

This much-anticipated updated edition of this digital-first playbook equips a new generation of leaders to win in a business landscape dominated by disruption. Since the publication of the first edition over six years ago, the analysis and predictions presented in The Digital Matrix have played out in the global economy, as more industries have gone digital-first. Some legacy companies have gone under in the interim, while others continue to grapple with the question of how to pull off a life-saving digital transformation. The digital giants and tech entrepreneurs are no longer at the periphery of traditional industries but have emerged as the rule-makers in industries as diverse as financial services, health care, media and entertainment, retailing, and automotive sectors. The Digital Matrix will help you understand the three types of players that are shaping the new business landscape; the three phases of transformation that every firm will encounter on its journey to business reinvention; and the three winning moves that will ensure your company’s success along the way. With The Digital Matrix, you will: Learn to navigate the world of digital ecosystems Discover ways of competing and collaborating with other companies to create and capture value Realize how powerful machines can amplify your company’s human talent Learn to assemble the team to experiment with new ideas, re-examine your core beliefs, and reinvent your business rule book for the digital future Digital technology has proved to be essential for navigating the uncertainties of work, health, and life during the pandemic; and it will prove to be more central to how companies refine their strategies and business models for the postpandemic world. The defining challenge for today’s generation of managers (who will be tomorrow’s leaders) is to prepare their organization to discard the rules perfected in the industrial age and develop their own unique rule book for their digital future. Your company’s future depends on its ability to harness digital technology. Don’t wait!

Enterprise Architecture as Strategy

Author : Jeanne W. Ross,Peter Weill,David Robertson
Publisher : Harvard Business Press
Page : 118 pages
File Size : 41,8 Mb
Release : 2006
Category : Business & Economics
ISBN : 9781591398394

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Enterprise Architecture as Strategy by Jeanne W. Ross,Peter Weill,David Robertson Pdf

Enterprise architecture defines a firm's needs for standardized tasks, job roles, systems, infrastructure, and data in core business processes. This book explains enterprise architecture's vital role in enabling - or constraining - the execution of business strategy. It provides frameworks, case examples, and more.

Managing Digital Transformation

Author : Andreas Hinterhuber,Tiziano Vescovi,Francesca Checchinato
Publisher : Routledge
Page : 350 pages
File Size : 54,5 Mb
Release : 2021-05-26
Category : Business & Economics
ISBN : 9781000387841

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Managing Digital Transformation by Andreas Hinterhuber,Tiziano Vescovi,Francesca Checchinato Pdf

This book provides practising executives and academics with the theories and best practices to plan and implement the digital transformation successfully. Key benefits: an overview on how leading companies plan and implement digital transformation interviews with chief executive officers and chief digital officers of leading companies – Bulgari, Deutsche Bahn, Henkel, Lanxess, L’Oréal, Unilever, Thales and others – explore lessons learnt and roadmaps to successful implementation research and case studies on the digitalization of small and medium-sized companies cutting-edge academic research on business models, organizational capabilities and performance implications of the digital transformation tools and insights into how to overcome internal resistance, build digital capabilities, align the organization, develop the ecosystem and create customer value to implement digital strategies that increase profits Managing Digital Transformation is unique in its approach, combining rigorous academic theory with practical insights and contributions from companies that are, according to leading academic thinkers, at the forefront of global best practice in the digital transformation. It is a recommended reading both for practitioners looking to implement digital strategies within their own organisations, as well as for academics and postgraduate students studying digital transformation, strategy and marketing.

Creating Value with Big Data Analytics

Author : Peter C. Verhoef,Edwin Kooge,Natasha Walk
Publisher : Routledge
Page : 339 pages
File Size : 53,9 Mb
Release : 2016-01-08
Category : Business & Economics
ISBN : 9781317561927

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Creating Value with Big Data Analytics by Peter C. Verhoef,Edwin Kooge,Natasha Walk Pdf

Our newly digital world is generating an almost unimaginable amount of data about all of us. Such a vast amount of data is useless without plans and strategies that are designed to cope with its size and complexity, and which enable organisations to leverage the information to create value. This book is a refreshingly practical, yet theoretically sound roadmap to leveraging big data and analytics. Creating Value with Big Data Analytics provides a nuanced view of big data development, arguing that big data in itself is not a revolution but an evolution of the increasing availability of data that has been observed in recent times. Building on the authors’ extensive academic and practical knowledge, this book aims to provide managers and analysts with strategic directions and practical analytical solutions on how to create value from existing and new big data. By tying data and analytics to specific goals and processes for implementation, this is a much-needed book that will be essential reading for students and specialists of data analytics, marketing research, and customer relationship management.

Digital Transformation in Business and Society

Author : Babu George,Justin Paul
Publisher : Springer Nature
Page : 306 pages
File Size : 43,8 Mb
Release : 2019-10-04
Category : Business & Economics
ISBN : 9783030082772

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Digital Transformation in Business and Society by Babu George,Justin Paul Pdf

The digital traces that people leave behind as they conduct their daily lives provide a powerful resource for businesses to better understand the dynamics of an otherwise chaotic society. Digital technologies have become omnipresent in our lives and we still do not fully know how to make the best use of the data these technologies could harness. Businesses leveraging big data appropriately could definitely gain a sustainable competitive advantage. With a balanced mix of texts and cases, this book discusses a variety of digital technologies and how they transform people and organizations. It offers a debate on the societal consequences of the yet unfolding technological revolution and proposes alternatives for harnessing disruptive technologies for the greater benefit of all. This book will have wide appeal to academics in technology management, strategy, marketing, and human resource management.