Paper Type

ERF

Abstract

Digital transformation is forcing traditional financial institutions to adapt. This study explores how financial firms leverage dynamic capabilities to navigate the challenges of digital change. The paper integrates Social Practice Theory to explore the collaborative dynamics that underpin successful transformation strategies. Insights from preliminary interviews with industry experts undergoing digital transformation contributed and shaped the approach for an upcoming case study. These initial discussions underscore the importance of dynamic capabilities and social practices in adapting to new digital realities. The upcoming case study will explore how social interactions influence and strengthen these capabilities within financial organizations, aiming to provide insights and practical implications.

Paper Number

1248

Author Connect URL

https://authorconnect.aisnet.org/conferences/AMCIS2024/papers/1248

Comments

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Aug 16th, 12:00 AM

Digital Transformation in Financial Institutions: extending Dynamic Capabilities

Digital transformation is forcing traditional financial institutions to adapt. This study explores how financial firms leverage dynamic capabilities to navigate the challenges of digital change. The paper integrates Social Practice Theory to explore the collaborative dynamics that underpin successful transformation strategies. Insights from preliminary interviews with industry experts undergoing digital transformation contributed and shaped the approach for an upcoming case study. These initial discussions underscore the importance of dynamic capabilities and social practices in adapting to new digital realities. The upcoming case study will explore how social interactions influence and strengthen these capabilities within financial organizations, aiming to provide insights and practical implications.

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