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UNIRAZAK Library Pustaka
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| Abstract : UNIRAZAK Library |
| This study explores the significant impact of digitalization on Malaysia’s financial sector, focusing on how traditional banks are navigating the shift brought about by fintech and digital banking services. As digital financial solutions rapidly gain traction, traditional institutions face mounting pressure to adapt to stay competitive. The research combines both quantitative and qualitative approaches to provide a well-rounded understanding of the evolving landscape.The quantitative portion examines secondary data, such as digital adoption rates and fintech market penetration, using methods like trend and correlation analysis to assess the influence of digitalization on consumer behavior and banking performance. Meanwhile, the qualitative analysis gathers perspectives from key industry stakeholders through interviews with bank executives, fintech leaders, regulators, and consumers. This allows for deeper insights into the operational, strategic, and regulatory impacts of digitalization on the financial sector.A core focus of the study is to understand how consumer preferences are shifting toward digital services like mobile banking and digital payments, and how traditional banks are responding to this shift. It also evaluates the effectiveness of Malaysia’s regulatory framework, including the Financial Technology Regulatory Sandbox, in fostering innovation while ensuring consumer protection.Additionally, the study examines the challenges and opportunities faced by traditional banks in adapting to digitalization. This includes their strategies for integrating new technologies, upgrading infrastructure, and competing with fintech firms by forming partnerships or launching digital banking platforms.The research aims to provide actionable insights for policymakers, financial institutions, and fintech companies, offering guidance on navigating the digital transformation of Malaysia’s financial sector and capitalizing on emerging opportunities. |
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