The Impact of the Covid-19 Pandemic on the Digital Transformation in the Banking Sector in Portugal

Alexandra Fonseca, Instituto Universitário de Lisboa (ISCTE-IUL)
Luís Rodrigues, Instituto Universitário de Lisboa (ISCTE-IUL), ISTAR-IUL


Currently, digital transformation is a process that cuts across different sectors of activity, including banks. One of the examples is the availability of products and services on digital channels. This study aims to identify the changes implemented in the digital channels of banks in Portugal that were driven by the covid-19 pandemic, contributing to the acceleration of digital transformation. 30 Reports and Accounts from 10 banks were selected from 2019 to 2021 and analyzed using the Leximancer software to identify the main themes and concepts. The results allowed the identification of 4 themes and 40 most relevant concepts. It is concluded that banks have reinforced digital channels in terms of products and services with evident concerns associated with security. This study, at an academic level, aims to contribute with a conceptual map of the measures adopted. At the business level, it aims to enable managers to define other initiatives and enhance those already implemented.