THE IMPACT OF APPLYING NEW TECHNOLOGIES TO THE DEVELOPMENT OF MODERN BANKING
THE IMPACT OF APPLYING NEW TECHNOLOGIES TO THE DEVELOPMENT OF MODERN BANKING

Author(s): Dijana Grahovac, Senad Softić
Subject(s): Economy, Business Economy / Management
Published by: Udruženje ekonomista i menadžera Balkana
Keywords: modern technologies;digitalization;modern banking vs. traditional banking;employee reduction;
Summary/Abstract: With the development of new technologies and sort of technological revolution, every business has experienced a transformation, in terms of the need to introduce new technologies, in order to achieve the highest level of competitiveness in the changed conditions of the present time, in the era of globalization. Banking is one of the areas that has experienced significant changes in the way of doing business for the last decade through the digitalization process. New business models with clients have been developed, as well as new products, which modern technology allows. The paper presents differences between the modern and traditional banking, which were created by the introduction of modern technologies in this field, as well as some negative effects of such trends, which are primarily reflected in the reduction of the number of employees in this field.

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