Digital Transformation Strategy: Evaluating Implementation Obstacles and Key Factors for Success and Sustainability in the Banking Sector of Saudi Arabia, Key Findings, Discussion, and Recommendations

Abstract

This research investigates the challenges and success factors of digital transformation (DT) in Saudi Arabia's banking sector, emphasizing its critical role in achieving Vision 2030 objectives. Using qualitative interviews with industry professionals and a review of relevant literature, the study identifies key barriers, including legacy IT systems, cultural resistance, and regulatory constraints, which hinder DT efforts. It also highlights essential success factors such as leadership commitment, strategic alignment, and employee engagement through continuous training. The findings offer actionable insights for fostering sustainable digital innovation while balancing compliance and operational efficiency. Recommendations include modernizing infrastructure, aligning digital strategies with organizational goals, and enhancing collaboration with regulators. The study concludes by emphasizing the importance of integrating advanced technologies to position Saudi banks for long-term competitiveness in a digital-first landscape.