Unveiling the Digital Shift: Exploring the Changing Landscape of Work in Banking

Abstract: Background: The advent of digitalization has significantly impacted various aspects of society. Digitalization has aided in the growth of more ecologically friendly practices, and remote work hasreduced the usage of cars and lowered carbon emissions. However, existing literature has indicated that it also has resulted in new challenges such as privacy concerns, cybersecurity threats, and the need fordigital skills. The Covid-19 pandemic acted as a catalyst for digitalization, leading to an accelerated trend towards remote and flexible work. The financial sector has also undergone significant changes with the adoption of new technologies. Research on how digital transformation has changed the structural configuration in the banking industry is heavily undeveloped. Notwithstanding, digitalization continues to shape how society lives and interacts with each other. Purpose: The purpose of this thesis is to examine the influence of digitalization in banking and to comprehend the alterations that have transpired in the structural configuration due to the growing utilization of technology. An evaluation from the standpoint of employees can provide valuable insights into how digitalization has influenced work in the banking industry. This research can offer significant assistance to decision-makers in the banking industry as they devise strategies to adapt to the digital ageand foster a favorable work atmosphere for their employees. Method: This qualitative, exploratory thesis, which was guided by an abductive approach, made use of amore comprehensive understanding of the topic at hand. A thematic analysis was utilized as a guide wheninterpreting and analyzing the data from 10 semi-structured interviews. Conclusion: Digitalization has revolutionized employees’ work, demanding more collaboration and knowledge sharing. The effect of Covid-19 as the driving catalyst toward digitalization accelerated thischange and urged adaptation to external events. To meet evolving customer behavior, investing in digitalsolutions with a human touch is crucial. Ongoing education is vital for enhancing digital skills. Job losses are a concern due to increased digital efficiency. The banking industry must invest in employees andembrace adaptability. The future holds both challenges and opportunities as technology continues toadvance.