Digital Transformation in the Banking Sector

Dr. Helal Hedia Al-Montaser / Dr. Idris Abdelhadi Ali

This research paper addresses the importance of digital transformation in the banking sector and its role in building new business models that respond to rapid shifts in customer behavior and emerging competition from FinTech companies. The study outlines three main stages of banking digitization: developing innovative digital channels and products, adapting technical infrastructure, and implementing deep strategic and organizational changes. Additionally, the paper presents a case study exploring the application of digital technologies to address commodity and fuel subsidy distribution in Libya, highlighting their potential to alleviate the liquidity crisis and enhance financial inclusion.

Digital Transformation / Banking Sector / Financial Technology (FinTech) / Liquidity Crisis / Digital Identity / Financial Inclusion