Impact of Digital Disruption in Banking Sector

Data insights

Contents
INTRODUCTION...........................................................................................................................................3
Meaning of digital disruption..................................................................................................................3
Impact of digital disruption in banking sector.........................................................................................4
Online research questionnaire..................................................................................................................6
Discussion guide for a interview.............................................................................................................7
Efficiency of research techniques............................................................................................................8
Impact, awareness and perception of Digital disruption on career...........................................................8
CONCLUSION...............................................................................................................................................9
REFERENCES..............................................................................................................................................10

INTRODUCTION
Digital disruption occurs when new information or any pricing structure that influences the
pricing strategy of current products and services is changed. The world is becoming digital now
but there are so many technologies that have impacted the capacity of several sectors (Vezzoli,
Villares-Varela and De Haas, 2014). Digital innovation, meaning the usage of digital
technologies to develop a service and succeed in the market, must not be mistaken with
revolutionary innovation. Digital innovation is helping to expand and win market share for firms.
The banking sector has also used digital disruption to carry more clients and affect them
attributed to the dominance of computer media and many shifts. The goods, marketing strategies
and even the corporate culture are revolutionary. From inside and outside, the banking industry is
now subjected to technological transformation. Markets are now leveraging their revenues for
creativity and for consumers to build new standards. This study is about Lloyds Bank, UK, a
restricted public company operating in Wales and England. The study includes the role of digital
transformation in the financial industry and its impact on the banking industry, the kinds of
employment provided by the banking industry, and a survey. Also, people's interpretation of
technological transformation and the conversation of various techniques which are held out for
good operation.
Meaning of digital disruption
Digital transformation is a transition that happens as emerging digital technology and market
structures impact the value of traditional goods and services. The exponential growth in the
usage of smart phones for personal use and function, often referred to as IT consummation, has
raised the scope for technological transformation across several sectors. Generally, digital
transformation arises after digital advancement, such as big data, artificial intelligence (ML),
Internet - Of - things or putting your own computer (BYOD) into action. Digital disruption then
influences how consumers' preferences and attitudes change, forcing companies to adjust the
way they manufacture goods and services, manufacture marketing messages, and analyze
feedback (Choe and Lee, 2015). This change in digital strategies will take place at the individual
corporate, industrial or cultural scale. Shift is the main element that determines digital
transformation. It's all about redefining stuff and adjusting it so that the current system is