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Yıldırım, Ahmet Coşkun; Erdil, Erkan

The effect of Covid-19 on digital banking explored under business model approach

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  • Medientyp: E-Artikel
  • Titel: The effect of Covid-19 on digital banking explored under business model approach
  • Beteiligte: Yıldırım, Ahmet Coşkun; Erdil, Erkan
  • Erschienen: Emerald, 2024
  • Erschienen in: Qualitative Research in Financial Markets, 16 (2024) 1, Seite 87-107
  • Sprache: Englisch
  • DOI: 10.1108/qrfm-08-2021-0142
  • ISSN: 1755-4179
  • Entstehung:
  • Anmerkungen:
  • Beschreibung: <jats:sec> <jats:title content-type="abstract-subheading">Purpose</jats:title> <jats:p>This study aims to understand the impacts of Covid-19 on the progression of digitalization of banks in an emerging market. For this purpose, business model canvas (BMC) is used as a theoretical framework to explore these effects on each business elements of Turkish Banks’ business strategies.</jats:p> </jats:sec> <jats:sec> <jats:title content-type="abstract-subheading">Design/methodology/approach</jats:title> <jats:p>Data are collected through structured interviews with the top managers of seven diversified banks. Interview questions are designed based on BMC.</jats:p> </jats:sec> <jats:sec> <jats:title content-type="abstract-subheading">Findings</jats:title> <jats:p>The results show that the onset of the Covid-19 is a shock that has made digitalization a strategic issue that necessitates an urgent change in many business elements of banks such as customer relationships, communication channels, resource allocation, partnerships and financing. Further, it has stimulated redefining value proposition and collaboration/interaction among all financial institutions through digital platforms.</jats:p> </jats:sec> <jats:sec> <jats:title content-type="abstract-subheading">Practical implications</jats:title> <jats:p>BMC can be used to explain decision-making and business processes of banks for exploring the effect of recent and/or unexpected developments in the business environment of an emerging economy. The results provide insights and recommendations to managers of financial institutions into the impacts of Covid-19 on banks’ operational and strategic processes. That allows financial institutions, including Fintechs, to use this information for taking precautions and proactive actions against shocks.</jats:p> </jats:sec> <jats:sec> <jats:title content-type="abstract-subheading">Originality/value</jats:title> <jats:p>This study is an initial attempt to explore the impacts of the Covid-19 on banks in an emerging economy by using BMC. With that, this study contributes to the literature by explaining the effect of progression of digitalization in banking from a strategic business model perspective using a qualitative research method.</jats:p> </jats:sec>