Digital Transformation and its Impact on Customer Service in Traditional Banks: A Case Study of a Zimbabwean Commercial Bank

As digitalization continues to transform the banking industry, traditional banks are striving to remain competitive by adopting new technologies and strategies. This study focuses on the role of digitalization and its impact on customer services in a Zimbabwean bank. Using a qualitative case study approach, we examine how one of the banks in the country is digitalizing to meet the evolving demands of customers. Our findings suggest that digitalization offers numerous benefits, including improved business processes, cost savings, and enhanced customer experiences. To fully leverage these benefits, banks must adopt a customer-centric approach and focus on developing innovative products and services that meet the unique needs of their clients. Digital platforms can provide a safe, secure, and convenient way for banks to engage with their customers. However, one of the biggest challenges for banks in pursuing a digital strategy is the significant cost of acquiring and implementing new technologies. To overcome this hurdle, partnerships with financial technology companies can be an effective way to reduce initial investment costs. In addition, traditional banks embarking on a digital transformation journey need to realign organizational values and culture to the new digital strategy. Overall, our study highlights the importance of digitalization in the traditional banking sector and provides recommendations for banks seeking to remain relevant and competitive in the digital era. Future research can explore undertaking a quantitative survey involving several traditional banks to develop a model of digital transformation for enhanced customer service in developing country contexts.