Acceptance of digital transformation in financial sector of Bangladesh

Abstract

LankaBangla is the market leader in the capital market services and it is the dominant provider of integrated financial services as well as Personal Financial Services, Stock Broking, Corporate Financial Services, Corporate Advisory, SME Financial Services and Wealth Management Services. They are giving their full effort to develop an efficient, vibrant and transparent capital market in Bangladesh. To keep pace with the current dynamic market demand, this organization is ready to make any change for the betterment of their consumer and keeping this in mind, currently they are going to introduce a new digital change in their company on the beginning of the next year, 2018. From that perspective, this report has been made to acknowledge the acceptability of digital transformation among the users in general, mostly in their employees. Basically, digital transformation is the entire transformation in organizational processes, activities, competencies and business models. Both primary and secondary process are used to collect data so that the research can be done in an unbiased way. For the survey, 50 respondents are approached to express their perception about digital transformation in a company, especially in financial sector. In brief about the survey, most of the respondents support digital transformation. They are also agreed on this point that digital transformation incurs a huge amount of cost for that organization, even though this cost is worth enough compare to it’s usefulness. From the direct interview of the employees in LankaBangla Finance Limited, it is clarified that, digital transformation will save their working hours. Furthermore, employees will be able to complete their task with efficiency with in less hours than manual process. Digital transformation is predominantly used in business sector, however, it has a significant impact on public sector and organizations. Finally, it can be mentioned that, digital transformation aims to create the capabilities in it’s user so that they can work more efficiently to embrace new challenges and can attain the company’s goal.