| Author: | Chung, Siu Kuen |
| Title: | An exploratory study of the critical success factors of retail banking in the digital era |
| Advisors: | Cheng, T. C. Edwin (LMS) Choy, Petrus (LMS) |
| Degree: | D.B.A. |
| Year: | 2018 |
| Subject: | Hong Kong Polytechnic University -- Dissertations Bank management Banks and banking -- Automation |
| Department: | Faculty of Business |
| Pages: | xv, 302 pages : illustrations |
| Language: | English |
| Abstract: | Amid major socio-economic changes and rapid technological development, retail banking is a highly competitive industry. Digital transformation has had substantial effects on the retail banking business. The main objective of this study is to identify and evaluate the perceived level of importance of the critical success factors and organizational performance measures pertinent to retail banking in the digital era. The findings of this study can facilitate the formulation of informed strategic decisions for retail bankers in the digital era. The study identified the critical success factors that can guide retail bank senior management's strategic actions to help them achieve their organizational objectives and goals. An extensive review of the relevant literature revealed that only few studies have focused on the critical success factors in retail banking in the digital era. This literature review, supplemented by a summary of practical consultancy reports on the constructs and measurement indicators of the critical success factors and organizational performance measures pertinent to retail banking in the digital era, identified relevant constructs and their corresponding measurement indicators. The study tested the identified the critical success factors and organizational performance measures pertinent to retail banking in the digital era and their inter-relationships. This study identified nine initial constructs as independent variables and ninety-two corresponding measurement indicators of the critical success factors as well as five initial constructs as dependent variables and fifty-three corresponding measurement indicators of the organizational performance measures pertinent to retail banking in the digital era. The methodology included a field study in which structured survey questionnaires were sent to the heads of retail bank management offices or their delegated representatives in four key cities of Mainland China (Beijing, Shanghai, Guangzhou, and Shenzhen) and Hong Kong. Exploratory factor analysis and multiple regression analysis were then conducted on the collected data to examine and test the critical success factors and organizational performance measures pertinent to retail banking in the digital era and their inter-relationships. Five critical success factors, namely (i) technological innovation, (ii) regulatory compliance and risk management, (iii) service quality, (iv) human resources management, and (v) organizational flexibility, and four organizational performance measures, namely (i) digital marketing performance, (ii) digital financial performance, (iii) integrative service performance, and (iv) digital operational performance of retail banking in the digital era were identified in this study. Findings of this study show that the five critical success factors are statistically associated with the four organizational performance measures at different levels of significance. Technological innovation is found to be the most prominent critical success factor as it is significantly associated with all the four organizational performance measures. A case study of a leading bank in China, the China Merchants Bank, was conducted to validate the findings of this study by examining the measures taken to achieve superior organizational performance in the retail banking business in the digital era. Comparison with another leading bank, the Industrial and Commercial Bank of China, was also conducted for benchmarking purposes. It is believed that the findings of this study could provide useful insights to the management of retail banks in pursuing superior organizational performance in the digital era. Retail banks should thereby be more clearly able to determine their strategic directions, deploy limited resources and assets, and adopt suitable strategies to sustain their competitiveness in the digital era. |
| Rights: | All rights reserved |
| Access: | restricted access |
Files in This Item:
| File | Description | Size | Format | |
|---|---|---|---|---|
| 991022163353703411.pdf | For All Users (off-campus access for PolyU Staff & Students only) | 3.05 MB | Adobe PDF | View/Open |
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