Emerging Digital Technologies Shaping the Future of Banking: A Comprehensive Analysis

Abstract

The banking sector has been significantly affected by emerging technologies, and this research focuses on their influence on the process of Digital Transformation (DT), specifically in Pakistan. This study aimed to examine the correlation between digital technological diffusion capability and stakeholders’ digital experience as separate factors, with operational management (OM) acting as the intermediary and their collective impact on DT in the banking sector. This study adopted a quantitative approach by using a sample of bank managers in Pakistan. The findings indicate a strong and positive relationship between the capability to use digital technology, the digital experience of stakeholders, and OM. The function of OM in mediating was apparent in aiding the conversion of technological capabilities and stakeholder experiences into concrete consequences of DT. These findings highlight the crucial significance of efficient operational methods in creating the digital future of banking. This study provides significant information for banking professionals and regulators who wish to navigate the changing landscape of digital technology in the financial industry.