Digital transformation in Lesotho Postbank: a case for e-commerce, mobile application and ATMs

Abstract

Lesotho Postbank's endeavours to adopt Digital Transformation have resulted in limited advancements in offering online services, interactive websites, and other associated activities. This study examined the incorporation of e-commerce and other digital technologies, and the essential managerial skills required to implement digital transformation successfully. Specifically, it assessed the necessary digital skills and examined how emerging technologies and the characteristics of the digital environment influence these skills. The responses were obtained directly from senior managers involved in the organi sation's day-to-day decision-making process. The results suggest a general agreement that digital skills are necessary for Digital Transformation. It also highlights the need for continuous training among employees. Furthermore, the findings show a discrepancy between the understanding of digital transformation and the awareness of how the digital environment influences digital skills development. The findings also highlighted the necessity for implementing suitable strategies to address the rising risks associated with digital technology. The investigation revealed deficiencies in the bank's comprehension of digital transformation. The organisation still needs to adopt e-commerce. This disconnection is evident in the implementation of the strategy and leads to the formation of isolated groups in the execution process. Additionally, it was discovered that the digital transformation strategy requires the backing of proficient staff, a facilitating culture, a robust operating model, and an integrated governance and assurance framework. The study identified several obstacles to the research objectives. Four recommendations were proposed to tackle the rising difficulties. These recommendations include providing a precise definition of digital transformation, addressing cyber threats, promoting digital literacy, and fostering collaboration with Fintech businesses.