The evolution of IT business analysis in the banking industry: Key strategies for success
Year: 2024
Type: article
Abstract: This review paper explores IT Business Analysis's (ITBA) evolution within the banking industry, highlighting its critical role in driving innovation, efficiency, and compliance in a highly regulated environment. The paper provides a historical overview of ITBA, examining its early adoption and subsequent evolution in response to technological advancements and industry demands. It also delves into current trends, including integrating modern tools and technologies and the role of ITBAs in digital transformation initiatives. Furthermore, the paper discusses ITBAs' challenges, such as managing legacy systems, ensuring regulatory compliance, and addressing cybersecurity threats while identifying emerging opportunities driven by big data, artificial intelligence, and fintech partnerships. The review concludes with a discussion of key strategies for success, emphasizing the essential skills, best practices, and future outlook for ITBAs in the banking sector. The insights provided in this paper are intended to guide ITBAs in navigating the complexities of the banking industry and leveraging technological advancements to drive business success.
Language: English
Subfield: Management Information Systems
Domain: Social Sciences
Open Access status: hybrid
OpenAlex ID: W4406633940