TY - JOUR A1 - Dehnert, Maik T1 - Sustaining the current or pursuing the new: incumbent digital transformation strategies in the financial service industry JF - Business Research N2 - Digital transformation (DT) is a major challenge for traditional companies. Despite the term, DT is relatively new; its substance is not: a whole stream of research has examined the relationship between DT and firm performance with contradictory findings. Most of these studies have chosen a linear correlational approach, however, did not analyze the holistic interplay of DT dimensions, leading to firm performance. This applies especially to the mature financial services industry and the future perspectives of traditional financial service providers (FSP). Hence, it remains an open question for both research and practice what DT configurations have a positive impact on firm performance. Against this background, the aim of this exploratory study is to examine how DT dimensions are systemically connected to firm performance of incumbent FSP. Drawing on a qualitative-empirical research approach with case data from 83 FSP, we identify digital configurations along different levels of firm performance. Our findings suggest an evolution of digital configurations of FSP, leading to five empirical standard types from which only one managed to establish a profound basis of DT. KW - Digital transformation KW - Banking KW - Insurance KW - Financial services KW - Configurational analysis KW - fsQCA Y1 - 2020 SN - 1866-8658 VL - 13 PB - Springer Nature CY - Berlin ER - TY - GEN A1 - Dehnert, Maik T1 - Sustaining the current or pursuing the new: incumbent digital transformation strategies in the financial service industry T2 - Postprints der Universität Potsdam : Wirtschafts- und Sozialwissenschaftliche Reihe N2 - Digital transformation (DT) is a major challenge for traditional companies. Despite the term, DT is relatively new; its substance is not: a whole stream of research has examined the relationship between DT and firm performance with contradictory findings. Most of these studies have chosen a linear correlational approach, however, did not analyze the holistic interplay of DT dimensions, leading to firm performance. This applies especially to the mature financial services industry and the future perspectives of traditional financial service providers (FSP). Hence, it remains an open question for both research and practice what DT configurations have a positive impact on firm performance. Against this background, the aim of this exploratory study is to examine how DT dimensions are systemically connected to firm performance of incumbent FSP. Drawing on a qualitative-empirical research approach with case data from 83 FSP, we identify digital configurations along different levels of firm performance. Our findings suggest an evolution of digital configurations of FSP, leading to five empirical standard types from which only one managed to establish a profound basis of DT. T3 - Zweitveröffentlichungen der Universität Potsdam : Wirtschafts- und Sozialwissenschaftliche Reihe - 142 KW - Digital transformation KW - Banking KW - Insurance KW - Financial services KW - Configurational analysis KW - fsQCA Y1 - 2020 U6 - http://nbn-resolving.de/urn/resolver.pl?urn:nbn:de:kobv:517-opus4-523237 SN - 1867-5808 ER - TY - THES A1 - Dehnert, Maik T1 - Studies on the Digital Transformation of Incumbent Organizations T1 - Studien zur Digitalen Transformation traditioneller Organisationen BT - Causes, Effects and Solutions for Banking BT - Ursachen, Wirkungen und Lösungen für das Bankwesen N2 - Traditional organizations are strongly encouraged by emerging digital customer behavior and digital competition to transform their businesses for the digital age. Incumbents are particularly exposed to the field of tension between maintaining and renewing their business model. Banking is one of the industries most affected by digitalization, with a large stream of digital innovations around Fintech. Most research contributions focus on digital innovations, such as Fintech, but there are only a few studies on the related challenges and perspectives of incumbent organizations, such as traditional banks. Against this background, this dissertation examines the specific causes, effects and solutions for traditional banks in digital transformation − an underrepresented research area so far. The first part of the thesis examines how digitalization has changed the latent customer expectations in banking and studies the underlying technological drivers of evolving business-to-consumer (B2C) business models. Online consumer reviews are systematized to identify latent concepts of customer behavior and future decision paths as strategic digitalization effects. Furthermore, the service attribute preferences, the impact of influencing factors and the underlying customer segments are uncovered for checking accounts in a discrete choice experiment. The dissertation contributes here to customer behavior research in digital transformation, moving beyond the technology acceptance model. In addition, the dissertation systematizes value proposition types in the evolving discourse around smart products and services as key drivers of business models and market power in the platform economy. The second part of the thesis focuses on the effects of digital transformation on the strategy development of financial service providers, which are classified along with their firm performance levels. Standard types are derived based on fuzzy-set qualitative comparative analysis (fsQCA), with facade digitalization as one typical standard type for low performing incumbent banks that lack a holistic strategic response to digital transformation. Based on this, the contradictory impact of digitalization measures on key business figures is examined for German savings banks, confirming that the shift towards digital customer interaction was not accompanied by new revenue models diminishing bank profitability. The dissertation further contributes to the discourse on digitalized work designs and the consequences for job perceptions in banking customer advisory. The threefold impact of the IT support perceived in customer interaction on the job satisfaction of customer advisors is disentangled. In the third part of the dissertation, solutions are developed design-oriented for core action areas of digitalized business models, i.e., data and platforms. A consolidated taxonomy for data-driven business models and a future reference model for digital banking have been developed. The impact of the platform economy is demonstrated here using the example of the market entry by Bigtech. The role-based e3-value modeling is extended by meta-roles and role segments and linked to value co-creation mapping in VDML. In this way, the dissertation extends enterprise modeling research on platform ecosystems and value co-creation using the example of banking. N2 - Traditionelle Unternehmen sehen sich angesichts des zunehmend digitalen Kundenverhaltens und gesteigerten digitalen Wettbewerbs damit konfrontiert, ihr Geschäftsmodell adäquat für das digitale Zeitalter weiterzuentwickeln. Insbesondere etablierte Unternehmen befinden sich dabei in einem Spannungsfeld aus Bewahrung und Erneuerung. Der Großteil jüngerer Forschungsbeiträge zum Bankwesen fokussiert sich auf digitale Fintech-Innovationen, nur wenige Studien befassen sich mit Herausforderungen und Perspektiven traditioneller Banken. Vor diesem Hintergrund untersucht die Dissertation die Ursachen und Wirkungen der Digitalen Transformation im Bankwesen und zeigt Lösungswege für traditionelle Banken auf. Der erste Teil der Dissertation untersucht die Ursachen der Digitalen Transformation im Banking. Neuartige Einflussfaktoren und Entscheidungspfade im Kundenverhalten werden als strategische Digitalisierungstreiber für Banken identifiziert. Darauf aufbauend werden in einem Discrete-Choice-Experiment die Präferenzen deutscher Bankkunden hinsichtlich digitaler und nicht-digitaler Dienstleistungsattribute am Beispiel von Girokonten untersucht. Die Arbeit leistet einen über das Technologieakzeptanzmodell hinausgehenden Beitrag zur Erforschung des Kundenverhaltens in der Digitalen Transformation. Ein weiterer Forschungsbeitrag systematisiert anschließend wesentliche Charakteristika smarter Produkte und Dienstleistungen als Treiber von Geschäftsmodellen und Marktmacht in der Plattformökonomie. Der zweite Teil der Arbeit befasst sich zunächst mit den Auswirkungen der Digitalen Transformation auf die Strategieentwicklung von traditionellen Finanzdienstleistern, die mittels Fallstudien entlang ihres Finanzerfolgs typologisiert werden. Die Fassadendigitalisierung wird als Standardtyp traditioneller Anbieter systematisiert, die zwar zunehmend auf digitale Kundeninteraktion setzen, aber die Geschäftsmodelldimension der Digitalen Transformation vernachlässigen. Darauf aufbauend werden in Panelregressionsanalysen die Auswirkungen der Digitalisierung auf deutsche Sparkassen auf betriebswirtschaftliche Kennzahlen untersucht. Eine weitere quantitative Studie untersucht die Wirkungen neuartiger IT-Beratungswerkzeuge auf die Arbeitszufriedenheit von Bankkundenberatern. Die Dissertation leistet hiermit einen Beitrag zur Transformationsforschung in den Bereichen Bankstrategie und Arbeitsprozesse. Im dritten Teil der Dissertation werden gestaltungsorientiert Lösungsartefakte für die zentralen Handlungsfelder digitalisierter Geschäftsmodelle - Daten und Plattformen - entwickelt. Dies schließt einerseits eine konsolidierte Taxonomie für datengetriebene Geschäftsmodelle und andererseits ein Referenzmodell für zukünftige plattformbasierte Bankenökosysteme ein. Die rollenbasierte Referenzmodellierungsmethodik e3-value wird um Meta-Rollen und Rollensegmente erweitert, um die die strategischen Auswirkungen plattformbasierter Geschäftsmodelle aufzuzeigen. Hiermit erweitert die Dissertation die Unternehmensmodellierungsforschung im Bereich digitaler Plattform-Ökosysteme am Beispiel des Bankwesens. KW - digital transformation KW - digitalization KW - digital strategy KW - consumer behavior KW - platform ecosystems KW - value co-creation KW - Fintech KW - incumbent KW - bank KW - Digitale Transformation KW - Digitalisierung KW - Digitalstrategie KW - Kundenverhalten KW - Plattform-Ökosysteme KW - Wertschöpfungskooperation KW - Fintech KW - traditionelle Unternehmen KW - Bank Y1 - 2022 U6 - http://nbn-resolving.de/urn/resolver.pl?urn:nbn:de:kobv:517-opus4-548324 ER - TY - JOUR A1 - Pousttchi, Key A1 - Dehnert, Maik T1 - Exploring the digitalization impact on consumer decision-making in retail banking JF - Electronic Markets N2 - Retail banking has undergone a massive transformation in the last few years. A major aspect is changing consumer behavior. The aim of the paper is to better understand retail banking consumers regarding the impact of digitalization. Consequently, we acquired online consumer review data from Germany, the UK and US. We analyzed the data using coding techniques of grounded theory, supported by interdisciplinary literature to identify and categorize the relevant influence factors. The outcome of the paper is an integrated model of consumer decision-making in today’s retail banking along with four detailed partial models of the respective decision stages. KW - Digitalization KW - Retail banking KW - Consumer behavior KW - Decision KW - Choice KW - FinTech Y1 - 2018 U6 - https://doi.org/10.1007/s12525-017-0283-0 SN - 1019-6781 SN - 1422-8890 VL - 28 IS - 3 SP - 265 EP - 286 PB - Springer CY - Heidelberg ER -