Development of Electronic Banking in Serbia During the Covid-19 Pandemic

Abstract

Contemporary business environment is characterized by rapid changes, hyper-competition, globalization of business and an increasingly fast development of IT technologies. Monitoring and adapting to these changes, along with the continuous introduction of business innovation in the 21st century is the prerequisite for the survival and development of banks in the financial market. In response to these changes, banks have expanded their offer to include and develop electronic banking. The COVID-19 pandemic has shown the significance of electronic banking when it is necessary to reduce visits to bank branches due to isolation and avoiding threats to people’s health. The development of electronic banking in Serbia during the COVID-19 pandemic is analysed in this paper, with the aim to determine whether the COVID-19 pandemic has affected the development of electronic banking in Serbia and to highlight the possibilities for further development of this type of banking in the country.