A Comparative Analysis of Savings Banks in the Slovenian Market
Accounting & Finance
Banking, as an important economic activity, has a long history dating back thousands of years. Its development is closely linked to the growth of trade, the economy, and the human need for the secure storage and exchange of money.
Banking has evolved since the time of ancient civilizations, while the first savings banks began operating in Europe in the 18th century, primarily to encourage saving among the less affluent population. In Slovenia, the first savings banks emerged in the 19th century and played an important role in the development of banking in the Slovenian territory.
Over time, savings banks have evolved and adapted to changing conditions. Today, they face numerous challenges, particularly due to increasing competition from larger banks and the growing digitalization of banking services.
This thesis focuses on the study of savings banks in Slovenia, particularly on their market position, competitiveness, and the impact of digitalization and artificial intelligence on their services. Through an analysis of three Slovenian savings banks (Delavska hranilnica, Hranilnica Lon, and Primorska hranilnica), their digital services, range of functionalities, and advanced solutions offered to clients were examined.
The main emphasis is placed on comparing digital services in relation to new technologies such as artificial intelligence and their impact on user experience and security.
Furthermore, a survey was conducted to gather user opinions and perceptions about savings banks, their services, and the role of artificial intelligence in banking. The results showed that savings banks maintain a certain level of trust among users but face challenges in terms of visibility and competition with larger financial institutions.
Respondents most frequently emphasized favorable credit conditions and interest rates on savings as the key factors in choosing a financial provider. The study also revealed that people believe artificial intelligence cannot replace the personalized advice of human financial advisors, though technologies such as chatbots are seen as helpful in improving the user experience.
The thesis aims to demonstrate how savings banks can leverage their advantages, such as a personal approach, in combination with advanced digital solutions, to enhance their competitiveness in the market.
