Assessing the Adoption of Digitisation in the Banking Industry. A Case Study of Steward Bank.

Abstract

The research focused on assessing the adoption of digitalization in the banking industry, using Steward Bank as a case study. The research paper was mainly expected to serve as a guide in understanding digitalization, the merits and drawbacks brought by the digitalization and assess the level of its adoption in the banking industry. The study used qualitative research design and collected data, and data was presented using tables, pie chart and graphs. A sample of thirty participants was taken out of a population of 250 from Steward Bank workers from the period of 2020 to 2022. Based on the sample it was evident that digitalization adoption has brought positive results to the operation of Steward Bank despite risks associated with it namely money laundering and fraud. Various stakeholders are still waiting for this digital banking encounter which has brought a transformative upgrade such as 24/7 baking and rapid response times. The study urges Steward Bank to invest more on its digital banking to become a purely digitalized bank. In addition, the Bank must make extra effort in educating its customers hence stands to gain more from the adoption of digital banking system.