What is the Effect of Intangible Assets on Earnings of the Serbian Banking Sector?
Abstract
Digital transformation is the permanent improvement of business processes within a bank by available digital tools and technologies in order to survive in the market. It is driven primarily by the clients’ needs, new competitors, regulations, and strategy based on the existing tradition. The aim of the paper is to determine whether there is a link between the money invested in digitalization and the achieved result of the bank through the relevant financial indicators. The results of the research show that the banking offer of alternative distribution channels’ products in the Republic of Serbia (RS) follows world trends and it can be considered developed. Furthermore, the level of investment in digitalization has a direct impact on the achieved result of the banking sector. Moreover, the banking sector generates more revenue than traditional products offered, and investments in digitalization, innovation and IT technology are inevitable if they want to survive on the market, which is, due to global trends, the need of clients and requirement of the regulator. It is certainly an imperative for all banks in RS to continue investing in education of employees and clients, improvement of business processes, and new tools in order to survive on the market and be competitive.
References
Accenture consulting. (2018). Hello you: Transforming the customer conversation in financial services. Retrieved from: https://www.accenture.com/t00010101T000000Z__w__/gb-en/_acnmedia/PDF-80/Accenture-Hello-You.pdf
Addico Bank a.d. Beograd. (2019). Digital Banking. Retrieved from http: https://www.addiko.rs/
Agoindustrijskokomercijalnabanka AIK a.d. Beograd. (2019). Electronic banking. Retrieved from https: www.aikbanka.rs/poljoprivreda/elektronsko-bankarstvo
Api Bank a.d. Beograd. (2019). E-banking. Retrieved from https:// www.apibank.rs/elektronsko-bankarstvo/
Banca Intesa a.d. Beograd. (2019). E-banking. Retrieved from https://www.bancaintesa.rs/stanovnistvo/elektronsko-bankarstvo.28.html
Bank of China a.d.Srbija. (2019). Online Banking. Retrieved from:http://www.bankofchina.com/rs/
Banka Poštanskaštedionicaa.d. Beograd. (2019). Electronic Banking. Retrieved from:https://www.posted.co.rs
Barjaktarović, L., &Ječmenica D. (2011). Primenakonceptašest sigma u bankarstvu. Bankarstvo, 1-2, 30-45.
Barjaktarović, L., &Ječmenica D. (2011a). Optimizam vs pesimizamkonkurentnosti bankarskogsektoraSrbije. Industrija, 2, 137-150.
Barjaktarović, L., Filipović, & S. Dimić, M. (2013). Concentration level of banking industry in CEE countiresIndustrija, 41 (3), 39-53. doi: 10.5937/industrija41-4712
Barjaktarović, L., &Marković, M. (2014). Razvoj Cash Management proizvoda u Srbiji i uticajna profitabilnost banaka. Bankarstvo, 5, 48-69.
BVA research. (2015). Digital Economy Watch: DIGITAL ECONOMY - The digital transformation of the banking industry. Retrieved from:https://www.bbvaresearch.com/en/category/themes/digital-economy/
Cognizant. (2014). Digital Banking: Enhancing Customer Experience; Generating Long-Term Loyalty. Retrieved from:https://www.cognizant.com/InsightsWhitepapers/Digital-Banking-Enhancing-Customer-Experience-Generating-Long-Term-Loyalty.pdf
Crédit Agricole banka Srbija a.d. Novi Sad. (2019). Electronic Banking. Retrieved from:https://www.creditagricole.rs/elektronsko-bankarstvo/elektronsko-bankarstvo.144.html
Dasho, A., Meka, E., Sharko, G., &Baholli, I. (2016, June). Digital Banking the Wave of the Future. Paper presented at the 7th International Conference organized by the department of statistics and applied informatics of the Faculty of Economy, University of Tirana, in Tirana. Retrieved from: https://www.researchgate.net/publication/315706647
Deloitte. (2018). 2018 FEBRABAN Banking Technology Survey. Retrieved from: https://www2.deloitte.com/content/dam/Deloitte/br/Documents/financial-services/2018-FEBRABAN-BankingTecnhology-Survey.pdf
Direktnabankaa.d.Kragujevac. (2019). E-banking. Retrieved from: https://www.direktnabanka.rs/privreda/e-banking/
Erste bank a.d. Novi Sad. (2019). Digital Banking. Retrieved from: https://www.erstebank.rs/sr/Stanovnistvo
Eurobanka.d. Beograd. (2019). Digital Banking. Retrieved from:www.eurobank.rs/digitalno-bankarstvo/e-banking---eurobank.1739.html
Expo bank a.d. Beograd. (2019). e-Banking. Retrieved from:http://www.expobank.rs/index.php/sr/ebanking
EY. (2018).Global banking outlook 2018: Pivoting toward an innovation-led strategy. Retrieved from:https://www.ey.com/Publication/vwLUAssets/ey-global-banking-outlook-2018/$File/ey-global-banking-outlook-2018.pdf
Halkbanka.d. Beograd. (2019). Electronic Banking. Retrieved from http://http://www.halkbank.rs/opste-informacije-e-bank.nspx
Jubmesbankaa.d. Beograd. (2019). E-banking. Retrieved from: http://http://www.jubmes.rs/code/navigate.asp?Id=511
Komercijalnabankaa.d. Beograd. (2019). E-services. Retrieved from: https:///www.kombank.com/sr/e-servisi]
Krstić, N., &Tešić, D. (2016). Digitalnatransformacijabankarskogposlovanja – opsanostiliprilika? Bankarstvo, 2, 12-33. doi: 10.5937/bankarstvo1602012K
KPMG (2018) Banking Systems Survey 2017/2018: Technology challenges for Dutch banks in the digital era. Retrieved from: https://assets.kpmg/content/dam/ kpmg/nl/pdf/2018/sector/banken/banking-systems-survey-20172018.pdf
Mylonakis, J. (2018). Digital Transformation of the Greek Retail Banking: An Evaluation of Systemic Banks’ Websites, Business Management and Strategy, 9 (2), 117-128. doi:10.5296/bms.v9i2.14100
Mbama, C. (2018). Digital banking, customer experience and bank financial performance: UK customers' perceptions. International Journal of Bank Marketing, 36 (2), 230-255. Retrived from: http://shura.shu.ac.uk/15903/
Mikarić, B., &Trajković, M. (2013). Uticaj elektronskog poslovanja na poboljšanje usluga u bankarstvu. Trendovi u poslovanju,2 (2/2013), 69-79.
MIRABANK a.d. Beograd. (2019). E-banking. Retrieved from: https://www.mirabankserbia.com/what-we-offer/executive-banking/e-banking
MTS bankaa.d. Beograd. (2019). mBanking. Retrieved from: https:// mtsbanka.rs/sr-Latn-RS/stanovnistvo/mBanking
Nayak. R. (2018). A Conceptual Study on Digitalization of Banking - Issues and Challenges in Rural India. International Journal of Management, IT & Engineering, 8(6), 186-191.
National Bank of Serbia - NBS. (2011). Bankarskisektor u Srbiji: Izveštajza IV tromesečje 2010.godine. Retrieved from:http://www.nbs.rs/internet/cirilica/55/index.html
National Bank of Serbia - NBS. (2019). Bankarskisektor u Srbiji: Izveštajza III tromesečje 2018.godine. Retrievedfrom: http://www.nbs.rs/internet/cirilica/55/index.html
National Bank of Serbia - NBS. (2019a). Bankarskisistem/Spisakbanaka. Retrieved from: http://www.nbs.rs/internet/cirilica/50/50_2.html
NLB bankaa.d. Beograd. (2019). Corporate.Retrieved from: https://www.nlb.rs/strana/16421/privreda
Obradović, J., Dragosavac, M., &Arsić, S. (2015, April). The use of modern techniologies in banking: abuse and possible soklutions. Paper presented at the Synthesis Conference organized by Singidunum University, Belgrade. Retrieved from: http://portal.sinteza.singidunum.ac.rs/issue/showAll/2015
Omarini, A. (2017). The Digital Transformation in Banking and The Role of FinTechs in the New Financial Intermediation Scenario. International Finance, Economics and Trade. 1(1), 1-6.
Omarini A. (2018). Banks and Fintechs: How to Develop a Digital Open Banking Approach for the Bank’s Future. International Business Research, 11 (9), 23-36.
Opportunity bankaa.d. Novi Sad. (2019). E-banking. Retrieved from: http://http://www.obs.rs/biznis/elektronsko-bankarstvo/
OTP bankaSrbijaa.d. Novi Sad. (2019). Electronic Banking. Retrieved from:https:// www.otpbanka.rs/elektronsko-bankarstvo
Orstad, R., &Sonono, B. (2017). The Effects of the Digital Transformation Process on Banks’ Relationship with Customers – Case Study of a Large Swedish Bank (Master thesis, Upsala University Sweden). Retrieved from: http://uu.diva-portal.org/smash/record.jsf?pid=diva2%3A1115984&dswid=_e_12s3
Pavlović, M., &Mutibarić, J. (2016). Značaj i primenaelektronskogbankarstva u RepubliciSrbijiVojnodelo, 2, 242-262. doi: 10.5937/vojnodelo16021242P
ProCreditbanka.d.Beograd. (2019). Business. Retrievedfrom: https://www.procreditbank.rs/index.php/sr/biznis/elektronsko-bankarstvo/internet-bankarstvo
Raiffeisenbanka.d.Beograd. (2019). Digital Banking. Retrievedfrom: https://www.raiffeisenbank.rs
Riva A., &Pilotti L. (2017). Digital and lean transformation in the bank and in the financial services: the experience of UniCredit Bank. International Journal of Management Research and Business Strategy. Article accepted for publication in the press process. Retrieved from: https://www.researchgate.net/publication/323336977
Sanader, D. (2014). Mobilnobankarstvo: novi trend u savremenombankarskom sektoru. Bankarstvo, 5, 86-109.
SberbankSrbijaa.d. Beograd. (2019). Digital Banking. Retrieved from: https://www.sberbank.rs/stanovnistvo
Schmidt, J., Drews, P., &Schirmer, I. (2017, August). Digitalization of the Banking Industry: A Multiple Stakeholder Analysis on Strategic Alignment. Paper presented at the 23rd Americas Conference on Information Systems organized by Association Information Systems in Boston. Retrieved from: https://www.researchgate.net/publication/319103682
Schmidt, J., Drews, P., &Schirmer, I. (2016, August). End-users’ perspective on digitalization: A study on work order processing in the German banking industry. Paper presented at the 22nd Americas Conference on Information Systems organized by Association Information Systems in San Diego. Retrieved from: https://www.researchgate.net/publication/301700202
SocieteGeneralebankaSrbijaa.d. Beograd (2019) Business [internet site: https:// www.societegenerale.rs/privreda/elektronsko-bankarstvo-privreda/]
Srpskabankaa.d. Beograd (2019) E-banking [internet site: http:// http://www.srpskabanka.rs/e-bankarstvo/index.html]
Telenor bankaa.d. Beograd. (2019). Online Banking. Retrieved from: http:// online.telenorbanka.rs/Identity/
UniCredit bank a.d. Beograd. (2019). Bank on the button. Retrieved from: https:// nadugme.unicreditbank.rs/korak-po-korak-vodic/korak-po-korak-vodic.19.html#Online zahtevi
Vojvođanskabankaa.d. Novi Sad. (2019). E-bank. Retrieved from: https://www.voban.rs/e-banking
Wade, M., Macaulay, J., Nornonha, A., &Barbier, J. (2016). Orchestringtransformation: how to deliver winning performance with a connected approach to change. Lausanne, Switzerland: Global centre for digital business transformation.