Analyzing the Effects of Digitalization on Financial and Accounting Processes in Modern Banking

Abstract

The objective of this study is to examine the impact of digitalization on financial and accounting processes in modern banking, focusing on the opportunities and challenges of this transformation. This study employed a qualitative research approach using semi-structured interviews. The sample consisted of 17 financial and accounting managers and experts from banks in Tehran, selected through purposive sampling. Data were collected until theoretical saturation was achieved and analyzed using NVivo software and qualitative content analysis. The results indicated that digitalization in financial and accounting processes in modern banking has led to increased accuracy, improved efficiency, reduced operational costs, and enhanced information security. Additionally, participants identified cybersecurity threats, employee resistance to technological changes, and regulatory challenges as significant barriers to digitalization. Managerial support, employee training, and technological infrastructure development were recognized as key factors for successful digital transformation. Despite its numerous advantages, the adoption of digitalization in modern banking requires proper technological infrastructure, supportive regulations, and adequate employee training. Digitalizing financial and accounting processes offers significant opportunities to optimize banking operations, but overcoming existing challenges is essential for realizing these benefits.