Strategic Management Thought

Identifying the success factors of digital strategies in Iran's banking industry

Document Type : Research Paper

Authors

1 Business Department, Faculty of Islamic Studies and Management, Imam Sadiq University, Tehran, Iran

2 Faculty member of Shahid Beheshti University, Tehran, Iran

3 Faculty member of Tarbiat Modares University, Tehran, Iran

Abstract

The emergence and rapid growth of cyber and digital space in the last few decades is one of the biggest symbols of global change and transformation. Formulation and implementation of digital strategy has become the main concern of many traditional organizations due to the transformative effects of digital technologies in all aspects of the organization's internal and external environment. Only-digital banking is a form of banking in which all processes are done in a non-physical way and on the basis of digital systems. In the last two decades, digital transformation has greatly changed the platform and forms of banking. In Iran, the banking industry is also one of the pioneers of digital transformation; Therefore, the purpose of this research is to identify the success factors of digital strategies in Iran's banking industry. With the same point of view, in this research, whose pattern was extracted by thematic analysis method, interviews were conducted with 20 Iranian banking industry experts, and finally, a pattern including eight dimensions was identified. The eight dimensions of the aforementioned model include the role of bank governance in implementing and solving problems, changing the business model, human capital at the level of digital transformation, information technology architecture and its infrastructure, organizing the structure and modifying processes, modifying and designing the business environment to realize digital strategies, actors Digital and emerging in the realization of digital strategies, international relations and global trends in digital banking.

Keywords

Main Subjects

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Strategic Management Thought
Volume 17, Issue 1 - Serial Number 35
March 2023
Pages 1-38
  • Receive Date: 26 December 2022
  • Revise Date: 19 June 2023
  • Accept Date: 29 July 2023