Conduct an appraisal on the digital strategy and transformation of the company: Barclays Bank.

Justification and rationale of the chosen company. (10%)• Evaluation and discussion on the digital disruption facing the industry sector of the chosen company. Critical analysis and discussion of the digital transformation strategy of the chosen company. (25%)• Examination and discussion of the digital technologies and innovation implemented by the chosen company. Identify and justify future emerging technologies for the future transformation of the chosen company. Conclusion and recommendations for the company and/ or industry sector

Answer & Explanation

Solved by verified expert

Barclays Bank is one of the leading financial institutions in the world, with a presence in over 40 countries. As such, it has been actively pursuing a digital transformation strategy to enhance its customer experience, increase efficiency, and remain competitive in a rapidly changing industry.

Overall, the digital strategy and transformation of Barclays Bank have been impressive, and the company has made significant progress in several key areas. Below are some of the highlights of the digital strategy and transformation of the company.

Operational Efficiency:
Barclays Bank has focused on enhancing its customer experience by introducing digital platforms and tools to make banking easier and more convenient for its customers. These platforms include mobile banking, online banking, and contactless payments, which have all been well received by customers. Barclays has also integrated artificial i

Looking for a similar assignment?

Let Us write for you! We offer custom paper writing services

Place your order

Step-by-step explanation

ntelligence (AI) and machine learning into its customer service operations, allowing for faster and more personalized interactions with customers.

Operational Efficiency:
Barclays Bank has also been focused on improving its operational efficiency through the implementation of various digital tools and technologies. For instance, the company has introduced Robotic Process Automation (RPA) to automate repetitive tasks, reducing the workload on employees and increasing efficiency. The bank has also invested in cloud computing technology, which has helped to streamline its IT infrastructure and reduce costs.

Innovation:
Barclays Bank has been proactive in exploring and implementing innovative digital solutions to enhance its products and services. The company has launched a number of initiatives, such as the Barclays Accelerator program, which provides support to fintech startups, and Rise, a global network of innovation hubs that focus on developing new technologies and business models.

Security:
Barclays Bank has also prioritized security in its digital transformation efforts. The bank has implemented advanced security measures, such as two-factor authentication, biometric authentication, and encryption, to protect its customers’ data and prevent fraud. The bank has also set up a dedicated cybersecurity team to continuously monitor and mitigate security risks.

Overall, Barclays Bank has made impressive progress in its digital strategy and transformation efforts. The bank has focused on enhancing the customer experience, improving operational efficiency, promoting innovation, and prioritizing security. The efforts made by Barclays Bank in its digital transformation have enabled it to remain competitive and meet the changing needs of its customers in an increasingly digital world.

Download PDF