THE IMPACT OF INDUSTRY 4.0 ON EMPLOYMENT: A STUDY IN THE BANKING SECTOR

Abstract

This study examines the impact of Industry 4.0-based technological developments on the employment figures of Garanti Bank, Yapı ve Kredi Bank, Finansbank, and Denizbank between 2009 and 2020. For this purpose, the number of personnel, operating expenses, internet banking users, mobile banking users, customers, credit card users, ATMs, and POS devices were used as data.

The study explores how banks respond to the demands of the evolving customer ecosystem through innovations brought by Fintech and Banking 4.0, which can be described as extensions of Industry 4.0 in the banking sector. The preferences of new-generation banking customers are analyzed in terms of traditional banking activities, such as the number of branches, the number of personnel, and related changes in personnel expenses. Additionally, reflections of technological advancements are examined through the number of internet banking and mobile banking users, as well as operating expenses a balance sheet item tracking investments in these areas. Furthermore, alternative distribution channels are analyzed, including the number of credit card users, ATMs, and POS devices.