Digital transformation important for banks i CEE region

Today’s customers not only bank in branches but are also spending more time banking online. To engage these increasing percentages, you need a digital banking strategy that allows customers to bank with you at any time and from any device.

Digital transformation of business implies an integrated use of modern technologies in all business operations. Banking is one of the industries that is very receptive to new technology, e.g. through the use of Internet and Mobile Banking.

According to a new study, carried out by Asseco SEE, digital transformation is crucial for banks in the SEE region. The study named „Digital Transformation Survey in Banking - 2016“ collected information about the digital transformation processes among 140 bankers across Bosnia and Herzegovina, Bulgaria, Montenegro, Croatia, Kosovo, Slovenia, Serbia and other European countries.

. Local branches and bank websites are still the most critical communications and business transaction channels. Only every other bank has a mobile website or a website optimized for smartphones or tablets. Banks are working on the enhancement of their channels, and the majority of them are continuously adding new functionalities to the existing channels. However, only every third bank opts for a more significant innovation in this field, was showing in the study.

It is fascinating that about a little less than 50% of the banks have a clearly defined digital banking strategy or have already embarked on the process of defining this strategy.

On the other hand, banks which have established a digital transformation strategy, need to share it with their employees, as this is imperative for the success of their business. A total of 75 percent of the surveyed bankers thinks that a digital transformation strategy has an import- ant role in a bank’s success, while 15 percent of them believe that a bank’s success depends only on the existence of the bank.