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Mémoire
Bachelor thesis

Disruptive Technology in business innovation : how is the digitalization going to transform jobs in the banking industry in Switzerland?

    2018

Mémoire de bachelor: Haute école de gestion de Genève, 2018

banques
finance
Suisse
société numérique
English Digital transformation has been a popular topic in Swiss banks for many years due to the benefits that it provides to financial institutions, such as improving internal processes and achieving tasks efficiently. Nevertheless, this trend is considerably transforming jobs and the role of the workforce. Switzerland is well-known for its expertise in financial services and its banking industry represents 9.1% of its gross domestic product (GDP) (SIF, 2017) and it is important for the Swiss economy to observe changes in that sector of activities. Qualitative surveys involving six different types of banks (big banks, foreign banks, private banks, cantonal banks, regional banks and Cooperative banks) have been conducted for comparing the information on the subject from existing literatures and the real situations that Swiss banks are facing today and responding to the problem statement. The findings match the literatures regarding the transformation of jobs. Indeed, it is stated that cognitive and low-revenue tasks will vanish, and employees will be assigned to strategic positions. The majority of banks have agreed upon those statements, with the exception of the private and regional banks due to their lower involvement in digital transformation. Then, the literature expects considerable changes within banks and a dismissal rate up to 30% by 2022 (EY, 2018). However, the interviews revealed that number might not represent reality since the banks’ strategy towards digitalization is not yet in place in Switzerland. Big and foreign banks are expanding digital transformation in all sectors. However, the other types of banks are not following the same trend as their clients have not adopted the technology yet. Instead, they prefer to favor the customer relationships rather than investing in digital components. The recommendations to avoid massive dismissals of workforce in the future are linked to employers’ and employees’ responsibilities. Employers (or banks) should help their employees to engage in learning further on digital tools and be flexible towards changes by changing the business cultures and seeking for new revenue streams. They could also lobby for actions and encourage associations to share information on the subject. Employees should also develop curiosity towards technology, acquire new skills to keep up with the changes and eventually become entrepreneurs as a part-time job to receive new incomes. In general, the transformation of jobs will only become real when the clients start to accommodate new technological concepts in their daily life and force banks to adapt to these behavioral changes.
Language
  • English
Classification
Economics
Notes
  • Haute école de gestion Genève
  • International Business Management
  • hesso:hegge
License
License undefined
Identifiers
  • RERO DOC 323618
Persistent URL
https://sonar.ch/hesso/documents/314716
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