Basdewo, Kishen2025-01-202025-01-202023Basdewo, Kishen. (2024). Digitalisation in the banking industry – the future of banking [Master’s dissertation, University of the Witwatersrand, Johannesburg].WireDSpace.https://hdl.handle.net/10539/43543https://hdl.handle.net/10539/43543A research report Submitted in partial fulfillment of the requirements for the degree of Master of Laws by Coursework and Research Report School of Law, University of the Witwatersrand, Johannesburg 2023The South African banking sector has undergone a profound digital transformation due to rapid and continuous technological advancements. Being Africa’s largest economy, South Africa offers a unique context for examining the trajectory of digital banking and its ramifications for business and society. The emergence of new technologies has fundamentally changed how banks generate and deliver financial services. In particular, digitalisation has empowered banks to operate predominantly online with minimal physical branches, giving rise to novel intermediaries like peer-to-peer lending platforms and payment service providers. Despite the evident significance of digitalisation in the banking sector, its transformative effects raise concerns about financial inclusion and the security of customers’ confidential information. Additionally, while many customers embrace digital platforms, a considerable segment still values the human touch, especially for more intricate transactions. Against this background, this Research Report seeks to explore the impact of digitalisation on the bank/customer relationship. The research further evaluates how emerging technological innovations are creating novel sources of systemic risk which could in turn pose regulatory and policy challenges. The data for this research report was collected from amongst others, various pieces of relevant legislation, scholarly articles, case law, as well as reports from financial regulators and commentators. The research findings reveal that the technological advancements compel banks to change their operating models to meet customer demands. While this introduces challenges both the consumers and banks, effective implementation holds significant benefits for both partiesen© 2025 University of the Witwatersrand, Johannesburg. All rights reserved. The copyright in this work vests in the University of the Witwatersrand, Johannesburg. No part of this work may be reproduced or transmitted in any form or by any means, without the prior written permission of University of the Witwatersrand, Johannesburg.Africa’s largest economySouth African banking sectorBanking industryDigitalisationSDG-8: Decent work and economic growthDissertationUniversity of the Witwatersrand, Johannesburg