The Main Challenges Facing the Retail Banking Industry in the Era of Digitalisation

Description

The aim of the article is to show the crucial changes in the internal and external environment of banking institutions and to identify the main challenges for banks in the near future. This paper examines the following research questions: (1) What factors and trends are the most disruptive for the modern banking industry? (2) What measures do banks have to take in order to meet both their new clients’ expectations and increasing FinTech competition? The basic research method used in the study is a review and a critical analysis of the subject literature as well as the survey method.