A Qualitative Analysis of Digital Transformation in the Financial Sector in Cambodia

Banking and financial institutions in Cambodia have launched many digital banking tools and adopted a variety of methods to boost their competition in the industry. The research study aims to examine the impacts of digital transformation on Cambodia’s financial sector. It employs a qualitative research method using a case study approach and semi-structured interviews with key informants from the selected banks in Cambodia. Thematic analysis is also applied to analyse the data in accordance with four major areas of the Capgemini Digital Transformation Framework: customer experience, operational processes, business models, and digital capabilities. The research findings show that digital transformation has impacted the sector in different ways. With the advancement of digital technology, people have conveniently increased their adoption of digital banking tools and improved their financial transactions and banking services performance. However, challenges and limitations persist, suggesting that banks must continue to invest in building their digital capabilities to further enhance their customer experience, operational processes, and business models.