COVID-19 and Islamic Banking Services: Digitalisation as a Post-Crisis Solution (Case of Morocco) (original) (raw)

Digital Transformation and Financial Inclusion: A Strategic Imperative for Morocco's Banking Sector

2023

This paper studies the current state of the Moroccan banking system in the context of digital economy development, to establish the benchmarks and needs for banking regulation, and to study the potential possibilities of digitalization of relations and transactions in the banking sector in the mechanism of implementing prudential rules. Digital transformation in the banking industry is associated with obstacles that seem to hinder the smooth implementation of digital approaches. This issue has not been adequately addressed in the current academic literature. The main purpose of this qualitative exploratory study is to identify the main perceived obstacles to digital transformation in the Moroccan commercial banking sector from a point of view and to analyse them accordingly. However, challenges such as low financial penetration and mismatches with costumer needs persists. The digitalization of financial services emerges as a promosing avenue to address these issues, significantly increasing financial access and inclusion in Morocco, in line with trends observed in other African Nations.

Digital Transformation in Islamic Banking

International Journal of Multidisciplinary Research and Analysis

The purpose of this study is to examine digital transformation in Islamic banks. Data were obtained through a survey questionnaire from three Commercial Sharia Banks in Aceh: BSI, BCA Syariah, and Bank Aceh. A descriptive analysis was carried out to examine. First, the reasons for these Islamic banks using digitization are related to the technology used as well as the status and position in the use of digitization; second, reviewing regulations, challenges, prudential risks, and the stability implications of digitizing Islamic banking. This study found that in most Islamic Banks, in this case, Bank Syariah Indonesia (BSI), BCA Syariah, and Bank Aceh, the digitalization process is still ongoing but has gained greater traction since the COVID-19 pandemic. The main reasons for the main impetus in carrying out digital transformation include strengthening competitiveness, increasing operational efficiency, and increasing customer satisfaction. Technologies adopted include mobile and digi...

The Impact of Digital Transformation on Banking

Journal of Business Administration Research, 2019

In this paper, we discuss in more detail the context of Tunisian banks, with a focus on digital transformation strategies considered, the mission that preceded this study and the methodology and approach. Secondly, we will analyze the results of the study to reconstruct the features of the digital transformation of movement in Tunisian banks.The study of the digital transformation of Tunisian banks is carried on the board Matine Consulting firm. This study is launched in the continuity of the inaugural training program certifying on the topic of FinTechs and digital transformation of banks, set up by Matine in collaboration with the Academy of Banking and Finance (ABF).

ADAPTING DIGITAL BANKING SERVICES DURING COVID-19 PANDEMIC: A STUDY ON CUSTOMER EXPERIENCES IN SELECTED DISTRICT OF MAHARASHTRA STATE, INDIA

IAEME PUBLICATION, 2021

Introduction: Banks play a vital role for economic growth since their evolution. A bank is a financial institution which deals with monetary deposits, lending, and credits to the customers. In present landscape, banks and businesses are interconnected with each other. The increase in innovation in technologies and development of new solutions encourages banks to transform from traditional bank to e-bank. Rising number of banking institutes are moving toward digital platforms to deliver their services online because of increasing usage of smart phones and internet penetration across the world. Hence, rise in adoption of online and mobile banking platforms are positively impacting the adoption of Digital Banking Services (DBS) across the globe. During covid-19 outbreak the usage of digital banking services increased drastically in urban and rural area of selected region of Maharashtra State. Methodology: In the present study efforts were made to understand the growth of digital banking services and related customer experience by means of collecting firsthand information from customers. The customer experience is studied on the basis of selected parameters like: trust on digital banking services (DBS), Preference towards nationalized, cooperative and private banks, widely used transaction type, Popular Digital wallet platform for online payment, secured banking transaction, convenience of use, perceived benefits and disadvantages of digital banking services. On the other hand systematic approach to review the literature is adopted to study related trends. Findings: Though there is increased usage of DBS during covid-19 outbreak and people have higher preference to use DBS still awareness, security concern, convenience of use and network connectivity remains major issues needs to be addressed. Superior customer experience means clarity and transparency, support for digital tools with which many customers are still unfamiliar in distress. Communication and quickly adoption of technology and situation plays crucial role. Implications: This study is useful for all the banks as an input to maximize their customer experience and strengthen their customer base at large. Banks would do well when they expand their digital infrastructure encompassing stability, security, availability and reliability of their digital services.

The potential of digital banking to handle the Covid-19 pandemic crisis: Modification of UTAUT model for Islamic finance industry

2021

Purpose – This research aims to examine the driving factors for the adoption of digital banking of Islamic banks during the COVID-19 pandemic, to explore the development of specific UTAUT2 model for Islamic financial technology, and to investigate factors that need to be improved in digital banking services of Islamic banks based on customer perspectives. Methodology – This research is divided into three. The first study is an empirical testing of UTAUT2 model modified by adding trust and satisfaction variables. The second study is an exploratory study of potential construct for the development of UTAUT model in Islamic Financial Technology. Third, it is an exploratory study aiming to identify problems and to search for policy advice to improve digital banking service of Islamic banks. This research used self-administered survey that involved 845 respondents from several cities in Indonesia. Open and closed question design was used to obtain complementary data. After that, the data ...

A Case Study on Kurdistan's Electronic Banks: Key Challenges Facing Consumers

Management and Economics Review, 2021

With advances in technology, financial institutions and their users needed to turn to the modern style of banking which is called e-banking. It provides numerous profits for both organizations and individual customers in terms of the comfort, ease, and cost of transactions. The main purpose of this study is to investigate and identify key challenges facing consumers to utilize e-banking services. To accomplish the purpose and problem of the study, the researchers conducted a quantitative approach via an online survey among 62 respondents in Kurdistan Region Government (KRG) and the sampling was chosen randomly. The descriptive research approach has been used and the methodology of the study depends on both primary and secondary data. SPSS software and Microsoft Excel have been used to evaluate the collected data. The main results indicated that privacy and security issues have the most significant challenge that affects consumers while using e-banking services, about 21%, whereas knowledge issues have the least effect on them, about 3.2%. Moreover, the COVID-19 outbreak has hurt the e-banking system both in the Kurdistan Region and around the world since Chinese authorities first announced it in late 2019. If there was an effective online banking system in KRG, employees would have received their salaries without having any infections from others.

Methodological research of financial sector digital transformation trends in banking

Technology audit and production reserves

The article analyzes the current problems of the financial sector within the framework digital transformation and the gradual transition to digital service financial transactions. The object of research is the Ukrainian financial banking sector, the peculiarities of which functioning at this stage crisis economy Ukraine require finding adaptation ways for the introduction digital transformation procedures. The subject is financial relations in the digital adaptation sphere and innovative development banking through the prism involvement of tools and information technologies in financial system, in general, and financial operations and procedures, in particular. The problems domestic financial sector transformation became more acute in connection with the mass transition to remote channels interaction with clients, first due to the restrictions that were applied as a result the COVID-19 pandemic, and then due to the armed aggression of russia to Ukraine. The research methodology is b...

Digital Transformation of Afghanistan Banking: Exploring E-Banking Trends and Impacts

2024

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Developing A Digital Banking Framework in the Iranian Banks

International Journal of E-Business Research, 2018

The objective of this article was to propose a framework to explore the infrastructures required to implement digital banking as previous studies have merely sufficed to introducing its different aspects. Since digital banking is viewed as the future model of banking industry and many banks around the globe are investing in the development of their digital capabilities, designing and implementing a corresponding model can result in further adaptability of banks with emerging necessities of the banking industry. Thus, this article is an effort to identify the prerequisites and facilitators of digital banking through reviewing the current literature and incorporating the views of industry experts. It is a qualitative research with the use of grounded theory, in which unstructured and semi-structures interviews were used for the purpose of data collection. The results show there are seven concepts and three key categories that should be considered in the domain of digital banking.