by Dr. Laura Stiller (Senior Consultant, IBM Consulting, IBM Deutschland GmbH)
from the handbook Digital Competence and Future Skills
Even before the Covid-19 pandemic, banks were under pressure from new competitors. Since the financial crisis of 2008, more and more young start-ups, so-called fintechs, have been entering the market. In addition to fintechs, big tech companies like Google, Apple & Co. are also targeting the financial market.
Digital transformation poses many challenges for the financial market and the established players. Figuratively speaking, the banks are in a war on two fronts. Externally, they must overcome the technological challenges for new innovative financial products and services and fight against fintechs and technology companies for their right to exist. Externally, established banks are struggling with the challenges posed by outdated IT infrastructures, the digitization of business processes and, most importantly, building the digital skills of their employees. This article shows from different facets what these developments and market conditions mean for the digital competence development of the employees of companies in financial markets.
The handbook Digital Competence and Future Skills provides comprehensive insight into the future of competencies and learning and the transformation of business. For the first time, leading companies from a wide range of industries around the world provide concrete insights into their comprehensive approaches to transformation, competence management, culture change, and learning and development. In addition, leading scientists and institutions use the latest research findings to assess where we are today and what is to come in the future.
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www.youtube.com/watch?v=NjxASUdSCAI

Dr. Laura Stiller
is a Senior Consultant for Financial Markets at IBM and advises financial service providers on the development of innovative financial products. In parallel, she is a lecturer at TH Munich and TH Deggendorf and gives lectures on Innovation & Technology Management as well as Digitization & Digital Transformation and Fintech Startups.
Previously, Dr. Stiller was a research assistant at the Chair of Innovation and Technology Management at the University of Regensburg. Her research interests are digital assets, digital platforms, digital platform ecosystems and networks, AI applications on platforms and coopetition with focus on the financial sector. Her work has been presented several times at the Academy of Management.
She received her Master of Science in Business Administration from the Catholic University of Eichstätt-Ingolstadt and Copenhagen Business School. She completed her Bachelor's degree in Business Administration B. Sc. at the University of Regensburg. During her studies, Dr. Stiller gained practical experience in the fields of strategy and IT consulting at Osram in Regensburg, Maschinenfabrik Reinhausen in Montréal, IBM in Walldorf and Capgemini Consulting in Frankfurt am Main.
Publishing Editor: Dr. Philipp Ramin
Dr. Philipp Ramin is a leading expert on digital transformation and future skills. With his company the Innovation Center for Industry 4.0 in Regensburg, Germany, which he founded whilst completing his Ph.D. on the topic of discontinuous innovation and digital business models, he trains more than 200,000 employees in 9 languages for leading companies from a wide range of industrial, business and financial sectors in more than 14 countries worldwide and has prepared a number of internationally recognized studies, for example on digitalization, artificial intelligence, digital competence. The Innovation Center for Industry 4.0 team, which was also instrumental in realizing this book, develops individual qualification solutions in the area of digitalization and Industry 4.0 for leading companies worldwide, including complete continuing education curricula and learning strategies as well as AR/VR solutions or complete digital online learning systems and competence management programs.
In 2022, together with one of his clients in the automotive sector, Philipp Ramin's company was awarded the recognized 'Project of the Year' eLearning Award for Instructional Design by Germany's leading publisher in this field, elearning Journal for a state-of-the art digital competence upskilling program with high acceptance, artificial intelligence supported gamification elements and proven and measured acceleration of the transformation process.