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Transforming Dutch Banking: Fintech's Impact on Sustainable Projects and the Closure of Physical Branches


Task: How does the adoption of fintech in Dutch banks for improving sustainable projects relate to the closure of physical branches, and what are the benefits, risks, and challenges associated with this technological shift?


Banking practices of using fintech on improving sustainable projects (An empiricalinvestigation of Dutch banks that are closing their physical branches)

Introduction to research topic

The banking industry has been experiencing a rapid shift in recent years due to the increased emphasis on sustainable initiatives made possible by the use of new technologies like fintech. The term fintech stands for financial technology which is becoming more and more significant in the banking sector (Kagan 2020). The term fintech describes a variety of technologies used to provide financial services such as mobile banking, online payment services, and digital wallets. In order to stay competitive, banks have started implementing these technologies to enhance their services and better meet the needs of their customers. These companies provide innovative, quicker, more practical, and more cost-effective solutions than traditional banking services. Fintech companies provide online banking services that allow users to manage their finances, open accounts, send money to others, and pay bills from their smartphones. Fintech has also transformed financing, enabling people and small enterprises to get loans easily through the online marketplace to pair borrowers with investors. These firms are also investigating the use of blockchain technology to speed up the transmission of payments and boost the security of financial transactions. Due to the growing usage of fintech, the banking sector in the Dutch, Netherlands is undergoing a revolution. This shift is changing how banks run their businesses and how clients use banking services. Customers may now get financial services more easily and quickly with the help of Fintech because they no longer need to visit physical branches (Kagan 2020). Customers can instead use online accounts and smartphone apps to access their banking services.

The research topic of banking practices of using fintech on improving sustainable projects provides an opportunity to investigate the impact of the new technology on the traditional banking industry and its role in the development of sustainable projects.The practices used by Dutch banks to use fintech to enhance sustainability projects will be the main topic of this proposal report. It will examine how far banks have embraced fintech and how it has affected their business practices. This study will also look at the difficulties banks have implementing fintech and the potential it offers. The study will also look into how fintech affects the long-term visibility of projects and the entire banking sector. As many Dutch banks have been closing their physical sites, the research will also examine how the usage of fintech may affect the structure of traditional physical banking branches. By examining these subjects, this study will throw light on the current situation of the Dutch banking sector and the effects of fintech on long-term project sustainability and the banking industry.

Focus of the study (Problem Statement)

The aim of this proposal is to look into the difficulties Dutch banks had when switching from conventional to digital banking services. Banks have been closing their physical locations in favor of digital banking services like mobile and internet banking as part of the current banking trend. The switch from physical to digital banking services is still proving to be quite difficult for Dutch banks, Despite the potential benefits. This study attempts to identify the difficulties Dutch banks encounter while converting from traditional to digital banking services and to investigate the technique they might employ to carry out the conversion successfully. The strategies and obstacles related to the shift of Dutch banks to digital banking services are not well understood, according to an extensive review of the literature written in the last five years. This study aims to close this gap by examining the difficulties banks have when implementing digital banking services and offering guidance on the tactics they may employ to carry out the shift successfully as well as how these strategies can be applied to enhance sustainability initiatives.

• The catch: Recently, there has been an uptick in interest in the Netherlands around the digitization of banking services.

• The anchor: According to the Dutch central bank, there are 202 banks operating in the Netherlands 180 of which are engaged in retail banking.

  • General business problem: Despite this, there doesn't seem to be much research on how Dutch banks are converting to digital banking services

• Specific business issue: In addition, research to date has mainly concentrated on larger banks revealing a knowledge vacuum about how the switch from traditional to digital banking services affects sustainable initiatives.

Relevant (background) literature

Banking practices of the Dutch economy

The banking sector places a crucial role in the Dutch economy and over the years Dutch banks’ banking practices have drawn a lot of attention. The banking industry has been experiencing a rapid shift in recent years due to the increased emphasis on sustainable initiatives made possible by the use of new technologies like fintech.

Numerous research has focused on Dutch bank banking practices. For instance, Khan, Khan and Nazir (2022) study examined Dutch banks’ banking practices in terms of their capacity to apply fintech for sustainable projects. The authors discovered that Dutch banks embraced fintech quickly and used it to further their sustainability programs. The authors made the case that fintech has allowed Dutch banks to lessen their physical footprint and transition to a more digitally oriented more sustainable banking system (Khan, Khan and Nazir 2022). ChuecaVergara and FerruzAgudo (2021) examined Dutch bank banking practices in light of their sustainability policies. The author discovered that Dutch has implemented several environmentally friendly practices such as enhancing their sustainability activities with fintech. The author made the case that Dutch bank has been able to be more effective and have less of an impact on the environment because of fintech (ChuecaVergara and FerruzAgudo 2021).

Finally, research by Macchiavello and Siri (2022) investigated how Dutch banks employ fintech for sustainable projects in their banking practices. The author discovered that Bank has used a number of fintech efforts, including blockchain technology and artificial intelligence, to strengthen its sustainability activities (Macchiavello and Siri 2022). The author made the case that banks have been able to lower operating expenses and boost efficiency with the help of the adoption of fintech.

Benefits of Fintech in Dutch Banking on improving sustainable projects

Many researchers examine the benefits of fintech in the Dutch banking economy. Fintech is changing the manner in which financial services are delivered by offering creative solutions to challenges in traditional banking by offering expenses, boosting productivity, and expanding access to financial services(Elsaid 2021). The following benefits are given below:

• Reducing operating costs: Reducing operating costs is one of the main advantages of adopting fintech for sustainable companies (Dhiaf et al. 2022). Banks can reduce expenses by doing away with human labor by utilizing technology to automate operations and streamline workflows. Fintech can also give banking sectors access to more advanced financial tools to help in data analysis and improve project decision making this may result in a project that is more effective and economical.

• Quick and more reliable transactions:According to Jain, Prajapati and Dangi (2023) Banking institutions can now conduct transactions more quickly and securely with the help of Fintech. Banks can ensure secure transaction and data production through the use of black-chain technology, this improves client happiness while lowering the danger of fraud.

• Capacity to expand access to financial services: The capacity to expand access to financial services is another advantage of employee fintech for sustainable projects (Kagan 2020). Utilizing this technology, businesses mainly reach a wider audience irrespective of their locations or financial situations. For those who live in developing nations where access to financial services is frequently restricted, this can be very helpful take additionally enables organizations to get services to clients with a range of their offerings and better save their client’s demands.

• Simplifying the banking processes: Simplifying the banking process is one way that fintech is being utilized to enhance sustainability efforts. Banks can now examine consumer data fast and offer specialized service that is based on the demands of the customers. As a result, it is simpler for the banking industry to get the financial services required to fund their sustainability initiative.

• Enable banks to provide more services to customers: Fintech has made it simple for banks to provide their clients with more specialized services. Today banks are able to provide a wide range of services that are customized to the specific requirements of their clients (Kagan 2020). Customers can now obtain the greatest services that meet their specific needs. By offering specialized services banks are better equipped to evaluate the information related to their customers by using automatic processes and data analytics. This enables them to choose the clients they approve for loans and other financial services more wisely.

Risks and Barriers of Fintech

The banking sector has been concentrating on leveraging fintech to enhance sustainable initiatives for a long time. That's why banking procedures employing fintech which contribute to cost savings and increased productivity. Fintech implementation for the sustainable project must take a number of potential risks and barriers.

• Ghahroud, Jafari, and Maghsoodi (2021) explain that Fintech-based banking procedures can be expensive to start. For the implementation of fintech into sustainable initiatives. the bank has to invest in technologies and staffing with fintech specialists. When the cost of the project is added to the project's cost, it might be challenging to justify this. if the project does not yield, it may be challenging to recover the cost of the technology.

• Banks are required to evaluate the risks of fraud technology used in fintech (Stojakovic-Celustka 2023). If the technology is not adequately secure then it may be susceptible to hacking or other malicious assaults. Banks must also make sure that technology is used ethically and that it does not encourage unethical behavior.

• Some people are not able to understand the functions of fintech. The people used the traditional banking system from the beginning it is difficult for them to understand the concept of fintech (Chan et al. 2022). They find the technology to be confusing and sophisticated. This can result in a lack of comprehension of the technological ramifications. Banks must make sure that they provide each and every piece of information about this function to their customers so can they are able to understand the concept of fintech.

Closing physical branches

Fintech is becoming more and more prevalent, revolutionizing the banking industry and forcing the closure of physical branches in many nations, including in the Dutch, Netherlands. Numerous studies that looked at the effect of closing physical branches on different components of the banking systems have focused on this transition to a digital-based banking system.

A study by Yuan, Li and Zhang (2023) examined how closing physical branches affects Dutch banking practices. The author discovered that Dutch banks were able to lower their operating expenses and boost efficiency as a result of the closure of physical banks. This is due to the fact that in comparison to traditional banking systems, digital-based banking systems demand less labor and resources such as offices and other types of equipment. According to the authors, this change has given the Dutch banks the opportunity to boost their profitability and maintain their effectiveness in the current banking market. Research by Srinivas and Wadhwani (2019) looks at how closing physical branches affected satisfied customers with Dutch banks. The author discovered that that's banks’ customer satisfaction has suffered as a result of the closer of physical branches this is because the absence of personalized services and the challenges associated with information availability discourage a client from using digital banking services according to the authors this has led to a decline in client loyalty which has a negative effect on the probability of the bank. Research by Murinde, Rizopoulos and Zachariadis (2022) examines how physical branches closer affected Dutch Bank sustainability programs. The author discovered that Dutch Bank sustainability programs had benefited from the closure of physical branches. This is due to the fact that the digital-based financial system has needless physical space and resources has made it possible for that banks to less than their environmental effects and adopt sustainable banking practices.

Overall, the Dutch banking system has been significantly impacted by the closing of physical branches. Dutch banks were able to lower operating expenses and boost productivity with the help of the transition to a digital-based finance system due to the lack of interpersonal interaction and the difficulty of acquiring information. It also had a determined effect on the satisfaction of customers. Finally, the change has allowed Dutch bank to scale their physical footprints and adopt more environmentally friendly banking procedures. It is crucial to take into account the effect of physical branches closer to the banking system’s many components as it continues to change. The financial system will continue to be effectively creative and sustainable as a result of this.

Theoretical/conceptual framework

The research project's theoretical/conceptual framework concentrate on the use of fintech to advance sustainable banking practices among Dutch banking systems. The framework will throw light on how fintech might be utilized to improve banking practices. It also provides the technical obstacles and risks related to using fintech to enhance sustainable banking practices. The framework comprises a review of pertinent literature that examines Dutch banks’ existing banking practices and the possible advantages of utilizing technology to improve them. Understanding the current state of these institutions' banking practices and the prospective gains from utilizing fintech will be provided by this literature review. The literature on fintech technology will also be researched in order to improve banking procedures for Dutch banks. A review of the literature on the methods Dutch banks can employ to successfully integrate fintech into their banking practices is also included in the framework. This literature analysis will shed light on the best method for successfully integrating fintech into banking procedures. The framework also contains a review of the literature on the challenges and risks of implementing fintech in the banking industry. The risk and difficulties that Dutch banks can encounter when seeking to employ fintech to enhance their banking procedures will be discussed in this literature analysis. overall, the theoretical/conceptual framework offers a thorough knowledge of and difficulties Dutch banks encounter white utilizing fintech in banking procedures. It also sheds on the potential advantage, barriers, and risks associated with the use of fintech in banking procedures.

Main research questions andsub-research questions

Main research questions

• What are the benefits and drawbacks of applying fintech technology to Dutch banking systems in order to enhance sustainable projects?

Sub-research questions

• What benefits could fintech have for Dutch banking to enhance sustainable projects?

• What risks might fintech present in Dutch banking when used to advance sustainable projects?

• What the barriers exist to implementing fintech in Dutch banking to enhance sustainable projects?

• What effects do physical branch closures have on Dutch banking practices?

Research Objectives

• To investigate Dutch banking systems, particularly its use of technology for sustainable projects.

• To determine how fintech might improve sustainable project outcomes for Dutch banking.

• To evaluate the risks and barriers of fintech in Dutch banking systems.

• To assess the impact on Dutch banking practices of the closure of physical branches.

Purpose of the study

The study goal is to look into how fintech has changed the Dutch banking process, especially in terms of how technology has been applied to strengthen sustainability programs. A qualitative research methodology will be used in the study. A combination of questionnaires, interviews, and document analysis will be used to gather data. Ten people from each of the five banks will make up the sample size for this investigation. The Netherlands will serve as the study’s geographical site. The result of this will be used to shed light on how Dutch banks may utilize fintech to advance their sustainability goals and promote social change. The findings of this study will help in understanding how fintech has impacted the Dutch banking sector and guide decision-making in the future about sustainable banking practices.

Definitions of Key Terms

• Fintech: This industry combines the financial and technological sectors to offer both businesses and consumers financial services it is rapidly developing technology that is to use digital tools to change the conventional financial system (Kagan 2020).

  • Sustainability:Sustainability is a method of resource management that aims to protect natural and financial resources for the future generation
  • Banking practice:Banking practices are the methods and techniques that banks employed to manage their financial resources and deliver financial services to their clients
  • Closing physical branches: Closing physical branches refers to the process of closing down the physical locations of banks in favor of digital solutions

Research Method and Design

In this proposal I propose to utilize a qualitative research approach to investigate how does banks are utilizing fintech. To enhance sustainable initiative due to its emphasis on comprehending and gaining inside into the experience is attitude and perspective of those involved qualitative research is suitable method for this project. I will be able to learn more about how does banks are utilizing fintech to enhance ability research banks in order to do this.

Interviews and document analysis will both be used as part of the data collection strategy to learn more about the banks official’s involvement in fintech and sustainability projects. interviews will be held with them. Examining reports and other documents connected to fintech in the banks will be part of document analysis. I intend to analyze the data using thematic analysis for finding examination between banking sector sustainability initiative and fintech. The main objective of this study proposal is to examine how does banks are leveraging fintech to improve sustainable projects. To do this it will employee qualitative research that includes document analysis and interviews through the use of thematic analysis. I will be able to better understand the topic and provide inside into best practices and methods for its implementation

Significance of the Research

The research on Bank practices of using fintech to improve sustainable projects is of great significance as it can help to increase the effectiveness, efficiency, and sustainability of banking operations. Additionally, it will help to lower expenses and enhance client satisfaction. The study can provide light on how banks can use fintech to cut down the requirement for physical branches, improving sustainability. It can also facilitate the improvement in decision-making and helps in making banking activities more visible. This technology can also assist the banking industry become more agile and boost customer satisfaction by enhancing customer services. Finally, this research may promote greater accountability and openness which mainly lead to improved regulatory components and elevated sustainability. Therefore, this research is crucial because it has the potential to enhance the sustainability and operations of the banking industry, which will result in cost savings and improved customer services.


• Dependability: Dependability is a term used to describe the consistency and correctness of data that is obtained in qualitative research. it speaks to the extent to which the same outcomes would be attended if the experiment was conducted again under comparable circumstances. I will employ member checking of the data interpretation, transcript review, and pilot test to prove the reliability of the research.

• Credibility: Credibility is a term used to describe how trustworthy the research findings are in qualitative studies. It speaks to how accurately the data obtained captures the reality's the research situation. I will utilize extended engagement, persistent observation, triangulation of the data investigator procedure, and member validation of the data interpretation to establish the credibility of the research.

• Transferability: Transferability is a term used to describe how readily different groups or contexts can utilize the findings of a qualitative study. It speaks to the degree to which the research finding can be applied to different contexts. I will use a thorough explanation and an audit trail of the study setting to prove transferability.

• Confirmability: Confirmability is a term used to gauge the objectives of the research findings in qualitative research. The degree to which the researcher’s biases, assumptions, and values are minimized during the data collecting and interpretation process. I'll use an audit trail, a research general, and several data sources to prove confirmability.

I will employ a variety of data collection techniques such as Focus group questions as an interview to guarantee data saturation. A number of data sources including primary and secondary sources will also be used to make sure that all pertinent data has been gathered and examined. I will also carry out several rounds of data gathering and analysis. Finally, I will sight numerous academies in the area and offer prove to back up the results.

Ethical Considerations


The purpose of this research proposal is to look into the methods that Dutch banks are used to enhance sustainable projects. The study will concentrate on the banking procedures used by Dutch banks that are closing their physical branches. The study will attempt to assess the modification made to banking procedures as a result of the banking industry's digitalization and the growing use of fintech for the enhancement of sustainable projects. In order to achieve this goal, the study will take a qualitative approach.

Research Methodology

The qualitative research methodology will be employed for this project the process of collecting data through interviews and additional sources like document and observation is known as qualitative research this kind of study enable a more thorough and in-depth investigation of the subject at hand. Interviews with banking securities bankers and sustainability specialists will be conducted in semi-structured form as a part of the data-gathering strategy for this project. This interview will examine Dutch banks leveraging fintech to enhance their sustainable projects and they will be performed through skype or zoom. The interviews will also look for opportunities and problems related to employing fintech in this situation. In addition to the interviews, reports publications and other papers pertaining to the banking practices of Dutch banks will also be used as sources of data. This will shade more light on Dutch banks’ practices and the potential repercussions of using fintech in this situation. Understanding Dutch banking practices in relation to leveraging fintech to enhance their sustainable practices is the aim of this research. The project will examine the difficulties and possibilities related to the use of fintech in the setting through the use of qualitative research methods. A more complete picture of Dutch Bank practices in this area will be provided by the use of semi-structured interviews and other sources of data at the end this project in the banking industry.

Ethical consideration

All subjects will have given their informed consent before to the research starts. In order to do this data will be used, and how their privacy will be protected. The ethic guidelines of beneficence, fairness and respect for individuals from the Belmont report will also be followed in this study:

• Before any data is gathered participants informed consent should be obtained to ensure that ethical issues are followed and a description of the study. The data collection procedures the advantage and disadvantages of participation, and the anticipated length should be included in the informed consent procedure.

• The participant have as well as details on how the data will be maintained and utilized Participants should also be made aware of their freedom to leave the study at any moment without any consequences participants should not be given incentives in exchange for taking part in this study.

• Measures should be taken to ensure that data obtained is kept secure and secret in order to ensure the ethical protection of participants any data share with a third party should be anonymized and all data should be securely preserved further more than information should only be utilised for the research products that where is closed during the informed consent procedure.


This study proposal aims to look into how Dutch banks leverage fintech to improve sustainable projects. The research will use a qualitative methodology, and the data will be thematically analyzed. The ethical standards of respect for people beneficence and fairness shall be observed, as well as the requirements that all participants give their informed consent.

The proposed study would look into how Dutch Banking practices of using fintech on improving sustainable projects. The purpose of the study is to examine the ways in which fintech has altered Dutch banking systems. Particularly in terms of how technology has been used to boost sustainability initiatives, the topic will be chosen, and finding appropriate research sources will be the first step in the research process. It should take 8 weeks to complete. A literature review is conducted which takes 8 weeks will come. Next, the data collection process which will come after will take 4 weeks. After that, it will take 4 weeks to analyze the data and interpret the findings. Each discussion of the findings the conclusion and the suggested actions will take 3 weeks

Assumptions, Limitations, and Delimitations

• Assumptions: Facts that are recorded as true but cannot be confirmed are referred to as assumptions. For the purposes of this study, it is believed that Bank has the tools to implement sustainable practices. Furthermore, it is presumed that the interviewees possess the information and experience needed to offer reliable responses. This presence has an adverse effect on the study’s validity in that the financing might not accurately reflect the population of Dutch banks.

• Limitations: Limitations potential problems in the study that are not controlled in the researchers. The main drawback of this study is that the sample size of the interviews may not have been sufficient to produce an accurate result. the results can also be impacted by the respondent’s limited access to specific tools and technology which might make it harder for them to provide correct answers the study was impacted by these laws in that the finding might not accurately reflect the population of Dutch banks.

• Delimitations: Delimitations identify the boundaries of the study. For this study, the delimitations are the geographical area (Netherlands), the type of banks (closing their physical branches), and the type of fintech (sustainable projects). The impact of these delimitations on the quality of the study is that the results may not be representative of other countries, other types of banks, or other types of fintech solutions.

Finally, the planned study will examine how sustainable projects and banks that are closing their physical branches have been impacted by fintech. It is crucial to take the studies assumption limitations and the limitations into account while analysing its conclusion


Chan, R., Troshani, I., Rao Hill, S. and Hoffmann, A., 2022. Towards an understanding of consumers’ FinTech adoption: The case of Open Banking. International Journal of Bank Marketing, 40(4), pp.886-917.

ChuecaVergara, C. and FerruzAgudo, L., 2021. Fintech and sustainability: do they affect each other?. Sustainability, 13(13), p.7012.

Dhiaf, M.M., Khakan, N., Atayah, O.F., Marashdeh, H. and El Khoury, R., 2022. The role of FinTech for manufacturing efficiency and financial performance: in the era of industry 4.0. Journal of Decision Systems, pp.1-22.

Elsaid, H.M., 2021. A review of literature directions regarding the impact of fintech firms on the banking industry. Qualitative Research in Financial Markets, (ahead-of-print).

Ghahroud, M.L., Jafari, F. and Maghsoodi, J., 2021. Review of the Fintech categories and the most famous Fintech startups. Journal of FinTech and Artificial Intelligence, 1(1), pp.7-7.

Jain, R., Prajapati, D. and Dangi, A., 2023. Transforming the Financial Sector: A Review of Recent Advancements in FinTech. Available at SSRN 4380348.

Kagan, J., 2020. Financial technology–fintech. Datum pristupadokumentu, 13(6), p.2020.

Khan, S., Khan, H.U. and Nazir, S., 2022. Utilizing the collective wisdom of fintech in the gcc region: A systematic mapping approach. Measurement and Control, p.00202940221124130.

Macchiavello, E. and Siri, M., 2022. Sustainable Finance and Fintech: Can Technology Contribute to Achieving Environmental Goals? A Preliminary Assessment of ‘Green Fintech’and ‘Sustainable Digital Finance’. European Company and Financial Law Review, 19(1), pp.128-174.

Murinde, V., Rizopoulos, E. and Zachariadis, M., 2022. The impact of the FinTech revolution on the future of banking: Opportunities and risks. International Review of Financial Analysis, 81, p.102103.

Srinivas, V. and Wadhwani, R., 2019. Recognizing the value of bank branches in a digital world. Deloitte Insights. Deloitte Center for Financial Services.

Stojakovic-Celustka, S., 2023, January. FinTech and its implementation. In Measuring Ontologies for Value Enhancement: Aligning Computing Productivity with Human Creativity for Societal Adaptation: First International Workshop, MOVE 2020, Virtual Event, October 17–18, 2020, Revised Selected Papers (pp. 256-277). Cham: Springer Nature Switzerland.

Yuan, K., Li, W. and Zhang, W., 2023. Your next bank is not necessarily a bank: FinTech expansion and bank branch closures. Economics Letters, 222, p.110948.


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