Towards the Digitalized Bank in the Age of Digital Convergence : Focusing on Pakistan Case

In recent decades, the development of information and communication technologies has changed many industry sectors by making the government and business operations more effective and efficient. The emergence of mobile commerce has been considered an important technology shift and it has changed the banking industry. The digital adaptation started off as an option but has evolved into a necessity in every bank’s agenda around the globe. The digital convergence and innovative technologies are forming remarkable disruption in the banking sector and the rate of change is increasing. The digital transformation is accelerating in the banking industry of Pakistan due to the changing payments landscape, competition from Fintechs and the arrival of mobile money services through telecoms. In Pakistan, most of the banks have been moved towards digital banking but some banks like the Bank of Khyber still lack. In this paper, the SWOT analysis method is used for the Bank of Khyber and useful suggestions have been provided for the adoption of digital banking. The growth and development of the financial business of the bank have put forward some strong measures for it. The Bank of Khyber needs to embrace the latest technology, start e-banking services and digital transformation for the high economic growth of the bank and fulfil customer satisfaction.