The impact of digitization in the banking sector -an analysis of leading european banks-
- Autores: Rühl Alexander Klaus
- Directores de la Tesis: Ricardo Javier Palomo Zurdo (dir. tes.)
- Lectura: En la Universidad CEU San Pablo ( España ) en 2021
- Idioma: español
- Tribunal Calificador de la Tesis: Juan Manuel Mascareñas Pérez-Iñigo (presid.), María Encina Morales de Vega (secret.), Alexander Frank Zureck (voc.)
- Programa de doctorado: Programa de Doctorado en Derecho y Economía por la Universidad Cardenal Herrera-CEU ; la Universidad San Pablo-CEU y la Universitat Abat Oliba CEU
- Materias:
- Enlaces
- Tesis en acceso abierto en: Repositorio Institucional CEU
- Resumen
Introduction The international financial industry is currently facing a trilemma that have persisted since the Global Financial Crisis. It started in these comprehensive dimensions with Lehman’s filing for bankruptcy on 15th of September 2008. For the purposes of this work, the allegorical imaginary three options of the trilemma symbolize the persistently low or negative interest rates, steadily growing regulatory requirements, and changed customer behaviour as well as advanced technological developments. A single company alone, be it a globally active corporation, often only has the chance to use the opportunities of technological change with on-board resources. In the thesis the assumption is made that companies in the financial industry can start with changes at this point, for example to lower the cost / income ratio. This in view of alarming developments in the relation of the cost / income ratio versus return on equity in the last decade.
The aim of the work is, on the one hand, to make the degree of change through digitization of the business models of incumbent credit institutions measurable. On the other hand, proposed solutions are derived to solve the trilemma.
The geographic focus of the 30 selected objects to be analysed, all of which are listed universal banks, is on the European economic area (EAA).
About company size, only G-SIBs (Global Systemically Important Bank) and D-SIBs (Domestic Systemically Important Banks) were considered.
Theoretical foundation The focus is on the search for determining the degree of change in business models, from evolutionary to disruptive to revolutionary changes. Every single analysis of the work was placed in the service of evaluating this overarching hypothesis.
To prepare the quantitative and qualitative empirical analysis, the phenomenon “universal bank” was presented theoretically from different perspectives in the second chapter. Among others, the generical aspect as well as the legal and regulatory environment were considered. Additionally, a banks’ heat map to allocate current challenges was developed. The validity of external segment reporting as source of information to understand the banks’ business models was underlined.
To this end, the work takes a mixed qualitative and quantitative approach. Qualitatively, a multivariate regression is used to model the influence of certain explanatory variables on key performance indicators, among others. The explanatory variables were selected in such a way that they express the change in business models. The quality of the knowledge gained was secured through expert interviews.
Conclusion The business models of the examined credit institutions showed changes between evolutionary and disruptive changes concerning the period 2010 to 2018. The indicators of revolutionary change tended to be less pronounced. Even the threat emanating from also analysed bigtechs could not be confirmed. The future of the business model bank as intermediary of liquidity is not negotiable. The currently known form of organization, however, is subject to constant change. Here, the future is moving away from representative locations in the city centers and towards highly efficient technology platforms in the periphery.
Bibliography used The entire spectrum of scientific literature was used, starting with established monographs and articles in scientific journals through to grey literature from renowned consulting companies. As far as possible, care was taken to ensure a high bibliometric impact. Furthermore, emphasis was placed on timeliness, citability and quotability.
Well-known databases from EBSCO Host to Web of Science to google scholar were used. The empirical evidence for the quantitative analysis was built up with the help of the data providers Refinitiv and Bloomberg as well as external reporting according to IAS / IFRS.
