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Finance Digitalization and its impact on labour market

Author

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  • Narcisa Roxana Mosteanu

    (American University of Malta)

Abstract

Finance digital transformation has become the most commonly used words in the last decade. Enhancing the efficiency and the survival of institutions is related to the adoption of innovation of digital changes. Redesigning the organizational structure of any institution starts with employees and their skills and competencies. This article aims to show how the process of digitalization of the financial system and the adoption of new technologies have changed the approach of the workplace, the way of doing business and redefined the parameters of the financial products and services offered. The research presents the challenges faced by organizational design in the banking industry and how the structure of employees it is changed. Starting to form financial institutions cases and extrapolating to the labour market, in general, the paper underlines the movements of the job market and the possible solutions to redirect the specialization curriculums in order to equip people with those qualifications and skills which will make them employable on the current digitalized business environment.

Suggested Citation

  • Narcisa Roxana Mosteanu, 2020. "Finance Digitalization and its impact on labour market," Technium Social Sciences Journal, Technium Science, vol. 8(1), pages 598-605, June.
    • Handle: RePEc:tec:journl:v:8:y:2020:i:1:p:598-605
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    References listed on IDEAS

    as
    1. Claudio Scardovi, 2017. "Digital Transformation in Financial Services," Springer Books, Springer, number 978-3-319-66945-8, September.
    2. Moshirian, Fariborz, 2011. "The global financial crisis and the evolution of markets, institutions and regulation," Journal of Banking & Finance, Elsevier, vol. 35(3), pages 502-511, March.
    3. Nambisan, Satish & Wright, Mike & Feldman, Maryann, 2019. "The digital transformation of innovation and entrepreneurship: Progress, challenges and key themes," Research Policy, Elsevier, vol. 48(8), pages 1-1.
    4. Alina Daniela MIHALCEA, 2017. "Employer Branding and Talent Management in the Digital Age," Management Dynamics in the Knowledge Economy, College of Management, National University of Political Studies and Public Administration, vol. 5(2), pages 289-306, June.
    Full references (including those not matched with items on IDEAS)

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    More about this item

    Keywords

    Finance Digitalization; organizational structure; job skills and qualifications; labour market;
    All these keywords.

    JEL classification:

    • R00 - Urban, Rural, Regional, Real Estate, and Transportation Economics - - General - - - General
    • Z0 - Other Special Topics - - General

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