Analyzing the governance archetypes of digital transformation in the banking industry

Articles in Press

Document Type : Research Paper

Authors

1 Faculty of Management and Accounting, Allameh Tabatabai University

2 Associate Professor, Department of Entrepreneurship and Technology Management, Allameh Tabatabai University

3 Full Professor of Industrial Management Department, Allameh Tabatabai University

10.22034/sspp.2024.2019198.3533

Abstract

The role of digital transformation governance in the banking industry is crucial. It ensures the successful adoption and implementation of digital technologies, strengthens guiding capabilities, and prevents inefficient allocation of resources. This research, conducted in 2024, used a descriptive-qualitative approach and a Multiple Case Study (MCS) strategy to identify the governance archetypes of digital transformation in banks. Through a two-stage hierarchical clustering method, 11 top digital banks were examined based on the digital transformation governance framework adapted from Weisbeck and Hess (2020), identifying 7 archetypes and 3 combined strategies for governance. We used focus groups and the Priority Selection Index (PSI) to develop a strategy that complies with the corporate governance principles set by the Central Bank of Iran for the country's banks. The findings show that policymakers and regulators adopt a conservative approach. The approach follows the structural dimension of the governance framework, which is similar to that of top digital banks. Nevertheless, there are variations that exist within the governance framework in regard to processes and relational mechanisms. To improve governance for Iran's banking industry during the digital transformation, policy proposals have been suggested. These proposals are categorized into two main themes: encouraging and supportive measures, as well as corrective and positive actions.

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Main Subjects

Strategic Studies of public policy

Articles in Press, Accepted Manuscript
Available Online from 14 April 2024

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