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COVID-19 Pandemic and Digital Banking Trends: Managerial Perspective on Challenges and Opportunities

COVID-19 Pandemic and Digital Banking Trends: Managerial Perspective on Challenges and Opportunities

Anita Damenshie-Brown, Kingsley Ofosu-Ampong
Copyright: © 2023 |Pages: 24
ISBN13: 9781668453261|ISBN10: 1668453266|ISBN13 Softcover: 9781668453278|EISBN13: 9781668453285
DOI: 10.4018/978-1-6684-5326-1.ch007
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MLA

Damenshie-Brown, Anita, and Kingsley Ofosu-Ampong. "COVID-19 Pandemic and Digital Banking Trends: Managerial Perspective on Challenges and Opportunities." Societal Transformations and Resilience in Times of Crisis, edited by Ghazala Shoukat and Muhammad Nawaz Tunio, IGI Global, 2023, pp. 112-135. https://doi.org/10.4018/978-1-6684-5326-1.ch007

APA

Damenshie-Brown, A. & Ofosu-Ampong, K. (2023). COVID-19 Pandemic and Digital Banking Trends: Managerial Perspective on Challenges and Opportunities. In G. Shoukat & M. Tunio (Eds.), Societal Transformations and Resilience in Times of Crisis (pp. 112-135). IGI Global. https://doi.org/10.4018/978-1-6684-5326-1.ch007

Chicago

Damenshie-Brown, Anita, and Kingsley Ofosu-Ampong. "COVID-19 Pandemic and Digital Banking Trends: Managerial Perspective on Challenges and Opportunities." In Societal Transformations and Resilience in Times of Crisis, edited by Ghazala Shoukat and Muhammad Nawaz Tunio, 112-135. Hershey, PA: IGI Global, 2023. https://doi.org/10.4018/978-1-6684-5326-1.ch007

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Abstract

While there have been increasing studies on the impact of COVID-19 on banking, limited research has explored how COVID-19 pandemic propagates the digital banking revolution and transformation from bank managers' perspectives. The authors solicit views from managers involved in bank decisions during the COVID-19 pandemic using a structured qualitative approach. They further run a content analysis on managers' responses to ascertain recurring themes that were less reported in the literature during the COVID-19 pandemic – the financial issues involved 51 themes. Three dimensions have been highlighted to reach the expected results: the challenges banks faced during the COVID-19 pandemic (bank operationalization), the strategies banks are employing in response to the COVID-19 pandemic, and the opportunities that the COVID-19 pandemic (boosting financial literacy and empowering banks) presents. By analysing these results, the study contributes to a better understanding of how COVID-19 offers a possible pathway to digital banking transformation and revolution for financial institutions.

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