The Chief Digital Officer – Savior for the Digitalization in German Banks?


  • Carsten Giebe Kaposvár University



Change Management, Digital Transformation, CDO, Chief Digital Officer, German banks


Digitalization is changing processes in the German banking market. This fact means significant challenges for companies. Many German banks could miss the connection in the age of digital transformation. According to a study, the management consultancy McKinsey even expects the return on equity to decline. And if the change that digitalization offers, is not properly implemented. According to the study, German banks are forced to digitalize processes due to low yields, as new players in the market (Fintechs) could shed up to 40 percent of their sales and up to percent of profits. The situation of how to deal with Digitalization correctly is much discussed. Organizationally, a lot was promoted under management aspects, and the industry is talking about the necessity of installing a so called Chief Digital Officer (CDO) next to the Chief Information Officer (CIO) / Head of IT. Is this a valuable solution?

References [Access June 2019]

strategy& (2016)

[Access June 2019]

David, O. A., Ionicioiu, I., Imbăruş, A. C., & Sava, F. A. (2016). Coaching banking managers through the financial crisis: Effects on stress, resilience, and performance. Journal of rational-emotive & cognitive-behavior therapy, 34(4), 267-281.

Doonan, M. (2018). So you’ve just hired a killer chief digital officer–now what?. Strategic HR Review, 17(1), 17-22.

Drummer, D., Jerenz, A., Siebelt, P., &Thaten, M. (2016). FinTech – Challenges and Opportunities How digitization is transforming the financial sector. McKinsey & Company, (May), 1–7. Retrieved from [Access June 2019]

Giebe, C. (2018). Net Promoter Score (NPS) alsqualitativesSteuerungsinstrument in der Finanzdienstleistungsbranche (21-22).

Hammermann, Andrea; Stettes, Oliver (2016): Qualifikationsbedarf und Qualifizierung: AnforderungimZeichender Digitalisierung, IW policy paper, No. 3/2016

Ilie, O.-M.., Popescu, C., &Iacob, S. E. (2017). Transforming the Banking Organization in the Context of Digital Economy. Proceedings RCE 2017, 284-292.

Kawohl J., Schneider, P. (2017) Werbrauchtschoneinen Chief Digital Officer? Eine Analyse der DAX- und MDAXKonzerne. Hochschule für Technik und Wirtschaft Berlin/ ProfessurfürStrategisches Management.

Kugler, Martin (16.12.2012), „Die Presse", Print-Ausgabe

Liu, D. Y., Chen, S. W., & Chou, T. C. (2011). Resource fit in digital transformation: Lessons learned from the CBC Bank global e-banking project. Management Decision, 49(10), 1728-1742.

Schawel C., Billing F. (2018) Change Management. In: Top 100 Management Tools. Springer Gabler, Wiesbaden,

Singh, A., & Hess, T. (2017). How Chief Digital Officers Promote the Digital Transformation of their Companies. MIS Quarterly Executive, 16(1).

Teece, D. J., Pisano, G., &Shuen, A. (1997). Dynamic capabilities and strategic management. Strategic management journal, 18(7), 509-533.

Tumbas, S., Berente, N., &Brocke, J. V. (2018). Digital innovation and institutional entrepreneurship: Chief DigitalOfficer perspectives of their emerging role. Journal of Information Technology, 33(3), 188-202.

Tumbas, S., Berente, N., &vomBrocke, J. (2017). Three Types of Chief Digital Officers and the Reasons Organizations Adopt the Role. MIS Quarterly Executive, 16(2).

Walchshofer, M., Riedel, R. (2017). Der Chief Digital Officer (CDO): Eine empirischeUntersuchung. HMD Praxis der Wirtschaftsinformatik, June 2017, Volume 54, Issue 3, pp 324–337, (doi: 10.1365/s40702-017-0320-7)

Zisler, K., Mohr, N., Strahl, A., & Dowling, M. (2016). Chief Digital Officer: Enabler der digitalen Transformation. ZeitschriftFührung+ Organisation, 85(2), 76-83.




How to Cite

Giebe, C. (2019). The Chief Digital Officer – Savior for the Digitalization in German Banks?. Journal of Economic Development, Environment and People, 8(3), 6–15.