Abstract:
The development of innovative and prevailing digital technologies, digital platforms and
digital infrastructures has transformed all organisations and in particular the banking
sector in significant ways. Digital technologies have disrupted all sectors and will
continue to do so with more companies embracing digital transformation (DT) and its
strategies. The COVID-19 pandemic was a catalyst of DT in that organisations had to
change their business models to remain relevant. Beyond simply producing new
opportunities for financial institutions, digital technologies have much wider implications
for value creation as well as value capture. Research aimed at understanding the digital
transformation of these financial institutions needs to combine multiple and cross-levels
of investigation, embrace concepts and ideas from numerous fields/disciplines, and
clearly acknowledge the role of digital technologies. To help realise this research
agenda, an investigation was done to explore key constructs related to digital
transformation, to understand the internal and external factors of digital transformation,
how leaders at a retail bank define digital transformation and the success of DT.
Furthermore, a qualitative research approach was followed to understand the impact of
digital transformation on performance within a retail bank in the context of South Africa.
