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  1. Digital Disruption in Banking and Financial Services


    Some big challenges for financial institutions globally have been the Digital Disruption, Blockchain and Artificial Intelligence. As a future business professional you will need to understand these challenges and their impact in both financial and non financial corporations. That knowledge will allow you to navigate easier these areas and contribute in finding ways to benefit from managing these developments.
    What are you going to do?
    • Make at least one, 250 word original post discussing one of the following topics:
    o Digital Disruption in Banking and Financial Services. Search for articles that discuss this topic and summarize your findings.
    • List your resource(s) and include one lesson learned that can be useful in the future.


Subject Technology Pages 2 Style APA


Digital Disruption within the Banking and Financial Services


                Krstic and Tešić (2016) present a research study that relay that digital disruption experienced within the banking sector affect the business models of the financial institutions. This results to the innovation of the financial products and services, business models and the distribution and sales channels, with an ultimate change on the culture of the firms (Krstic & Tešić, 2016). The digital disruption advocates for the establishment of new banking executives focused on changing the culture of the organization. Digital disruption is regarded as an opportunity for the financial sector players since it creates an environment for transformation and their desirability in meeting the needs of the consumers (Krstic & Tešić, 2016.

                Wewege, Lee and Thomsett (2020) present a study which explores the digital banking trends experienced due to the technological disruptions. The research finds that the disruption experienced in the banking sector will result to a growth in the level of access of the fintech trends in the next few years. This suggests that the digitized-mobile-banking services currently gaining prominence will stress on the banking infrastructure’s capabilities for connectivity, data sharing, cyber security as well as the standardization of the APIs to guarantee data protection and that open-banking directive are observed (Wewege, Lee & Thomsett, 2020).

From this activity, a lesson was drawn that digital transformation is defined by factors such as the development and use of online banking systems and applications that offers the customers with more power. As a result, the financial services consumers can demand for better experiences. The banking organizations are required to meet the consumer demand, through strategies such as culture change, to avoid losing their customer loyalty.


Krstic, N. & Tešić, D. (2016). Digital disruption of the banking industry: Threat or opportunity?. Bankarstvo, 45, 12-33.

Wewege, L., Lee, J., & Thomsett, M. C. (2020). Disruptions and digital banking trends. Journal of Applied Finance and Banking, 10(6), 15-56.


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