A Resilience Framework for Digital Transformation in the Banking Sector: A Systems Thinking Approach

Organisations and industries in the 21st Century face challenges in understanding and working in a highly complex and uncertain environment. Traditional banks face challenges from digital and IT organisations penetrating the banking sector to offer innovative transactional technology products resulting in reduced traditional banking customers and revenues. The increased reliance upon complex and interconnected cyber systems to conduct daily operations and business operational requirements has also been accompanied by increased threats and disruptions from hackers, groups and even state government organisations. These sociotechnical systems drive organisational changes, requiring a set of dimensions and indicators to measure and evaluate the organisational resilience of service organisations. This paper focuses on the banking system as the test environment for an organisational resilience framework suited to the services industry. The concept of resilience enables organisational survival and sustainability that should be seen as an inherent emergent system property. Resilience helps mitigation of threats and risks to maintain sociotechnical system functionality proactively. The study will utilise these identified organisational resilience characteristics and dimensions to develop a conceptual framework and evaluation model based on a systemigram.