A strategy for managing change towards digital banking

Abstract: Change is unavoidable in current business environments. It has become a requirement for organisations to adapt to changes to remain relevant in the industry. To remain competitive in the banking industry, the focal bank embarked on a journey towards digital banking which was in line with the organisational goals and objectives. The complexity of understanding and implementing change management processes has become a fundamental research topic, leading to the goal of this study. The purpose of this research was to explore how the focal bank has embraced change management to achieve the strategic intent towards digital banking. A case study was conducted where data was collected through unstructured interviews. Responses were collected through twenty audio recorded interviews with employees that have experienced the organisational change. Analysis of the data allowed the researcher to identify emergent themes which provided a comprehensive indication to the lack of change management processes that were implemented. Based on the responses, the researcher recognised the inconsistences of understanding and awareness of the organisational change. The findings of the research imply that resistance to change is still evident in the focal bank. This resistance is mainly linked to a lack of communication and inadequate procedures that were followed during the strategic change in the focal bank. Emergent themes were identified from the responses obtained by the participants of this research. These themes reveal that a clash of sub-cultures exists, employees feel disengaged and there was a lack of direction for the digital migration. Although the focal bank is known for its success in the area of digital banking, the research concluded that change management in the pursuit of digital migration was not embraced. Negative perceptions about the change and change management processes were expressed, even though all employees agreed that the strategic intent towards digital banking was necessary. This led to recommendations of change management processes that the focal bank, and any other organisation expecting changes, should implement. The research was concluded with recommendations for future research.M.Com. (Business Management