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Digital Transformation in the Swedish Banking Sector
KTH, School of Industrial Engineering and Management (ITM).
2019 (English)Independent thesis Advanced level (degree of Master (Two Years)), 20 credits / 30 HE creditsStudent thesisAlternative title
Digital transformation i den svenska banksektorn (Swedish)
Abstract [en]

The face of banking has changed dramatically over the last few decades, and in no area does this statement hold more true than in the domain of digitalization. One term that has been relentlessly repeated when discussing the past, present and future of this development is ”Digital Transformation”.

Digital Transformation can be tersely defined to mean change driven by digital technologies, with the potential to increase efficiency in existing processes, as well as to allow for new and novel technology-driven problem solutions and business models.

Despite the fact that Swedish major banks have come a long way in their digital transformation efforts, there is a lot of evidence that points towards this process not proceeding fast enough.

This study is an effort to get a general overview of the main barriers and mechanisms that are causing this development to proceed at a slower rate than might otherwise be desired, and to investigate how actors within the Swedish banking sector are seeking to overcome said barriers. This is done primarily through the interviewing of key personnel within major Swedish universal banks. The majority of the interviews are conducted with employees from a single major Swedish universal bank, taking the form of a case study, while a smaller number of interviews are conducted with individuals associated with other banks, in an effort to provide increased generalizability.

The results of the study show that barriers standing in the way of continued digital transformation in the Swedish banking sector can generally be categorized into one of the following categories: Legacy Infrastructure, Organizational Structure, Organizational Culture, Incentive Structure, Resource Insufficiency, Regulation, and Failure in Management.

The solutions and models discussed to address these issues included API First approaches, change driven through Cross-Functional Teams, and Collaborative Strategy Formulation.

Abstract [sv]

Hur bankverksamhet bedrivs har förändrats dramatiskt över de senaste årtiondena, och i inget område är detta lika tydligt som när det kommer till digitalisering. Ett begrepp som ständigt upprepas när man beskriver den forna, nutida och framtida utvecklingen av den här typen är ”Digital Transformation”.

Digital Transformation kan kortfattat summeras till att betyda förändring driven av digital teknologi, med potential att öka effektiviteten i befintliga processer, samt möjliggöra för nya problemlösningar och affärsmodeller.

Trots det faktum att de svenska storbankerna har kommit en lång väg i sina digitala transformationsinitiativ, så finns det mycket som tyder på att denna process ändå inte går tillräckligt snabbt frammåt.

Den här studien är ett försök att få en generell överblick på de primära barriärerna och mekanismerna som orsakar att denna utveckling går långsammare än önskat, samt att undersöka hur aktörer inom den svenska banksektorn har för avsikt att bemöta dessa problem. Detta görs huvudsakligen genom intervjuer med nyckelpersonal inom de svenska storbankerna. Majoriteten av de intervjuade kommer från en enda bank, där en form av casestudie utförs, medan ett mindre antal intervjuer genomförs med individer tillhörande andra banker, i en ansats att ge ökad generaliserbarhet.

Resultatet av studien visar att barriärer som står i vägen för fortsatt digital transformation i den svenska banksektorn kan generellt kategoriseras in i följande kategorier: Föråldrad Infrastruktur, Organisationsstruktur, Organisationskultur, Incitamentstruktur, Resursbrist, Regulation, och Misslyckanden i Styrning.

De lösningar och modeller som diskuterats for att adressera dessa problem inkluderade API First-baserade tillvägagångssätt, förändring driven av tvärfunktionella arbetslag, samt kollaborativ strategiformulering.

Place, publisher, year, edition, pages
2019. , p. 118
Series
TRITA-ITM-EX ; 2019:419
Keywords [en]
Digital Transformation, Digital Banking, Open Banking, Digital Transformation Strategy, Financial Regulation.
Keywords [sv]
Digital Transformation, Digital Banking, Open Banking, Digital Transformationsstrategi, Finansiell Regulation.
National Category
Engineering and Technology
Identifiers
URN: urn:nbn:se:kth:diva-264176OAI: oai:DiVA.org:kth-264176DiVA, id: diva2:1372205
Supervisors
Examiners
Available from: 2019-11-22 Created: 2019-11-22 Last updated: 2019-11-29Bibliographically approved

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