FUTURE-PROOFING BANKS: LEVERAGING KEY HUMAN CAPITAL COMPETENCIES FOR SUCCESS IN THE AGE OF FINTECH AND BIG TECH
Keywords:human capital competencies, intellectual capita, innovation, technology adoption, big tech, fintech
Abstract – This literature review aim to identify the key human capital competencies crucial for banks to succeed in the age of fintech and big tech. Through an extensive review of academic research and industry publications, this study explores competencies related to innovation, technology adoption, and intellectual capital management within the banking sector. These findings indicate that investing in employees' education and expertise can lead to improved innovative capabilities within banks. The influence of human capital on a bank's innovative capability is found to be positive, outweighing the impact of financial capital efficiency. The key success factors for banks in accelerating digital talent development encompass various crucial aspects based on the digital banks with a larger customer base and increased digital transactions tend to perform better, highlighting the importance of building a strong digital presence and customer engagement. Fostering intrinsic motivation and designing user-friendly digital tools are critical competencies that banks need to prioritize in their digital talent development efforts. Banks accelerate digital talent development through various methods. Investment in Digital Infrastructure and Technology, Exploration of Digital Technologies, Adoption of Digital Customer Experience Strategies, and Transformation and Adaptation. In conclusion, human capital competencies are crucial for banks' success in the age of fintech and big tech. Optimizing workforce skills, fostering innovation, and embracing digital technologies are essential for thriving in the digital era.
Keywords: human capital competencies, intellectual capital, innovation, technology adoption, big tech, fintech