DIGITAL SERVICES AS A TOOL FOR CREATING COMPETITIVE ADVANTAGE IN THE BANKING SECTOR IN NORTH MACEDONIA

Abstract

In the last few years participants of the banking sector in North Macedonia are facing big competition as a result of the increased innovations between these participants. The only way for banks to stay relevant with their operations is to create a sustainable competitive advantage. For an organization to hold out in a competitive environment, it needs to develop competitive strategies. One of the aspects of creating a competitive advantage in the banking sector is creating digital services. These services have a high impact on the banking sector and enable banks to have a competitive advantage in different manners. In addition to a theoretical approach to creating a competitive advantage in the banking sector, we conducted empirical research on how banks in North Macedonia create competitive advantage by offering digital services. This paper aims to describe the end-users attitude on digital banking services as well as the bank’s strategies on creating a competitive advantage by offering digital banking services.