DIGITAL TRANSFORMATION IN THE BANKING INDUSTRY CHALLENGES AND OPPORTUNITIES

Abstract

This research was conducted to see how digital transformation is in the banking industry, in terms of the challenges and opportunities of this digital transformation. Based on the literature research from several previous studies, it can be concluded that almost on average the results of previous research conducted by several studies state that digital transformation has a significant influence on banking development. Apart from that, with digital transformation providing new opportunities for banking, banking development has also increased due to this digital transformation. As for the challenges, namely the changes felt by employees who carry out systems that are usually traditional and now changes in digitalization, requires employees to be provided with trainings that improve their ability to use digital systems. Apart from that, another challenge is in the form of maintaining the system which must be carried out periodically. Remembering attackscybertechnology is common. So this must be considered in carrying out digital transformation.