A Delphi-AHP Approach to the COVID-19 Effect on Digitalisation in the Banking Sector

Abstract

Purpose: The purpose of this study is to reveal the readiness of the employees in the banking sector in the Republic of North Macedonia to adapt to the reorganisation of working hours while at the same time using the safest payment methods in conditions when the world is trying to deal with the crisis caused by the COVID-19 virus.

Need for the study: The world is rapidly moving towards increasing digitalisation, which is part of all spheres of human life. The outbreak of the COVID-19 virus pandemic has accelerated these processes by requiring people to adapt to the new conditions. The countries that have worked rapidly to digitise the system, while massively using non-cash payments, have adapted more easily to their regular daily tasks. The Republic of North Macedonia, as a developing country, is trying to take a step forward by introducing the innovations used by developed countries, taking into account the available assets and human resources.

Methodology: A method for qualitative forecasting, Delphi, is used in three rounds, and the gained insights serve as inputs in the creation of two analytic hierarchy process (AHP) models.

Findings: From the extensive analysis we performed, we found that the lack of digitalisation and process automation made it difficult for employees to adapt to the method of working from home, and on the other hand, they had a much easier time adapting to the use of alternative distribution channels.

Practical implications: Our findings are useful for the country, regulatory bodies and the bank’s management in developing strategies and plans for working from home or reorganisation of working hours, to be more acceptable to employees, emphasising the benefits for both employees and employers. Also, researchers and management practitioners in developing countries interested in this area can follow our combined Delphi-AHP approach in conducting similar research.