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Going Digital: How Swedish financial institutions are facing and transforming themselves in the new digital age
Jönköping University, Jönköping International Business School.
2017 (English)Independent thesis Advanced level (degree of Master (One Year)), 20 credits / 30 HE creditsStudent thesis
Abstract [en]

Background:           We are undergoing a new digitalization journey, that was initiated ten years ago through the launch of the smartphone, iPhone. It revolutionized the way we communicate and access to information. New emerging technologies and changing customers’ behavior, has given the opportunity for new type of companies to rise and disrupt the industry.

 

Purpose:                  To understand why the disruption is happening now, how financial institutions in Sweden are facing and adapting to the digital transformation, and to what extent this might affect and reshape the future Swedish financial services landscape.

 

Method:                  In order to fulfill the purpose of this research in a proper way, the abductive approach was chosen, because of its flexibility and evolving process capabilities. Henceforth, after gathering the theoretical framework, six semi-structured interviews were conducted, on-site with traditional incumbents, niche bank and Fintech companies.

 

Conclusion:             Digital transformation is bringing many different and new aspects for financial institutions. The industry is facing a higher pace of change, as it is exposed to new technologies and innovation, and as customer expectations change. New regulations and new types of players, are challenging existing business models, which is creating hindrances for existing players. The landscape as we know it today will transform and contain more niched players, and a variety of different types of constellations. We will experience “Ubered” business models, where financial services will become invisible and as plug-and-play, behind seamless, transparent and beautiful user interfaces.

Place, publisher, year, edition, pages
2017. , 82 p.
Keyword [en]
digital transformation, fintech, financial services industry, digitalization
National Category
Economics and Business
Identifiers
URN: urn:nbn:se:hj:diva-35821ISRN: JU-IHH-FÖA-2-20170327OAI: oai:DiVA.org:hj-35821DiVA: diva2:1105842
Subject / course
IHH, Business Administration
Examiners
Available from: 2017-06-08 Created: 2017-06-05 Last updated: 2017-06-08Bibliographically approved

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CiteExportLink to record
Permanent link

Direct link
Cite
Citation style
  • apa
  • harvard1
  • ieee
  • modern-language-association-8th-edition
  • vancouver
  • Other style
More styles
Language
  • de-DE
  • en-GB
  • en-US
  • fi-FI
  • nn-NO
  • nn-NB
  • sv-SE
  • Other locale
More languages
Output format
  • html
  • text
  • asciidoc
  • rtf