Success Factors for Integrating Digital Technologies in the Norwegian Banking Industry - A Case Study of Sparebanken Vest

Abstract

This thesis investigates the factors contributing to the successful integration of digital technologies within the Norwegian banking industry, focusing on Sparebanken Vest. The study is driven by the rapid evolution of digital technologies and their growing significance in banking. The master’s thesis addresses the key factors for succeeding with the integration of digital technology, through examination of drivers, challenges, digital maturity, and information system success models. Through a case study, data were collected from three informants in Sparebanken Vest. The research is based on three in-depth interviews, with informants holding different positions in the bank, providing us with insights from various perspectives, which has been beneficial for the study. Previous studies highlight the need for further research in the field, given the limited research conducted on digital transformation. The purpose of this study is to shed light on the digital transformation process as a holistic journey, as well as increase understanding of the factors that contribute to a successful integration. The study aims to answer the following research question: “What factors contribute to the successful integration of digital technologies within the Norwegian banking industry?” The study suggests that digital transformation is driven by both internal and external factors, including technological advancements, customer expectations, and the need for organizational development. Furthermore, the study identified some success factors for Sparebanken Vest to succeed with digital transformation. These factors build upon the importance of a holistic approach that incorporates supportive leadership, a strong organizational culture, effective technology integration, and active employee engagement. These elements collectively drive the organization towards achieving digital maturity and maintaining a competitive edge in the banking industry. Keywords: Digital Transformation, Digital Maturity, Information System Success, Leadership.