Digitalisation Strategies In Participation Banks

MAGAZINE 01.02.2022, 13:24 14.02.2022, 10:43
Digitalisation Strategies In Participation Banks

Increasing the market share of participation banking in the sector largely depends on having an effective digital transformation strategy.

According to the international market research company Global Market Insight, the digital banking market will increase its market value to over 12 trillion dollars by 2026. The current market value of the digital banking market is estimated at 8 trillion dollars. This research means that the market will grow by 50% in a short period of 5 years.

At this point, we see that participation banks in Turkey are open to development in terms of digital transformation. By focusing more on new generation technologies such as Big Data and Data Analytics, Artificial Intelligence (AI), Machine Learning (ML) and Robotic Process Automation (RPA), Blockchain and Cyber Security Applications, increasing human resource competencies and improving the digital literacy rate of customers, the digital transformation journey of participation banking can be sustainable.

Vakıf Katılım Director of Information Technologies and Digital Banking - Mehmet Bütün

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