Digitalization of banking services: Achievements and Constraints

  • Younes ACHEMRAH Faculty of Law, Economics and Social Sciences of Tetouan Abdelmalek Essaâdi University, Morocco
  • Abdelilah JEBBARI Faculty of Law, Economics and Social Sciences of Agdal, Mohamed V University, Rabat, Morocco
  • Oussama SOUAADA Faculty of Law, Economics and Social Sciences of Tangier Abdelmalek Essaâdi University, Morocco


In the present era, the growing rise of digitalization in banking services proves particularly relevant due to the numerous advantages it provides, both for clients and financial institutions. Nevertheless, this evolution also raises concerns inherent to the risks associated with digitalization. The aim of this conceptual study is to thoroughly explore the specific risks associated with the digitalization of banking services. This article highlights the risks associated with the digitalization of banking services. It notably underscores the increased vulnerability to cyber threats such as hacking, phishing, and identity theft, due to the migration of financial transactions to online platforms. Furthermore, the growing reliance on digital systems exposes banks and their clients to risks of system failures or technical issues, which could disrupt services and cause financial losses. Additionally, it emphasizes the risk of exclusion for certain population segments that may be less familiar with or have limited access to digital technologies, thereby exacerbating the digital divide. Finally, the article addresses concerns related to data privacy, as banks collect and analyze large amounts of customer information, raising concerns about its usage and protection. Moreover, in the presence of digitalization, financial risks such as credit risk, market risk, and operational risk can become more significant. The speed of transactions and the increasing complexity of computer systems increase the likelihood of errors or technical failures, which can result in significant financial losses for banking institutions. Additionally, process automation can sometimes lead to ineffective decision-making or flaws in control systems, thereby increasing operational risk. Consequently, rigorous risk management is essential to mitigate the negative impacts of digitalization on the financial stability and security of banking institutions.


Keywords: Digitization; Risks; Services; Banking sector

Classification JEL: G21

Paper type: Theoretical Research


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How to Cite
ACHEMRAH, Y., JEBBARI, A., & SOUAADA, O. (2024). Digitalization of banking services: Achievements and Constraints. International Journal of Accounting, Finance, Auditing, Management and Economics, 5(2), 105-121.