The integration of digital banking with traditional banking values

Abstract

The objective of this thesis is to identify and compare the combination of innovative digital banking and the fundamental values in the banking industry, and to monitor the current development of such and the customers’ attitude towards the digital banking sector; what’s more, the study also aims to determine the existing risk of the digital banking and figure out if digital banks are being proactive in managing such risk. The author collected the data by distributing an online questionnaire, this questionnaire was generated from a specific statistic website and published on social media, He has adopted convenience sampling since it is a direct and easy way to gather the data we expected. After that, the data was analyzed through the IBM SPSS software, descriptive statistics and chart statistics were the main approaches used in this scenario. The statistical results showed that digital banks can effectively meet the financial needs of the people, in particular, the traditional value of banking is reflected the most in the two functions of payment and transfer, the two areas at the same time also brought the biggest change in the direction of the digital bank, most of the respondents often using digital banking service, and they were generally pleased with the service as well. Meanwhile, statistics on the hazards of digital banking showed that nearly half of respondents were concerned about the risks of digital banking, with cyber security being the primary issue. Finally, although many interviewees could not give an answer to the question to whether banks were actively dealing with risks, most of the other users recognized the efforts made by banks, indicating that banks had indeed done a visible effort to deal with such risks to a certain extent. The study can be used to measure the digital bank performance and determine the degree of acceptance in society. Digital banks can also through the survey understand their existing strengths and weaknesses and make improvements, and, more importantly, this study lays a certain academic foundation for future possible analyses of how digital banks can effectively deal with new risks.