Business transformation is much larger and much more overarching. Digital transformation is more focused on the digital channels and technology that supports the digital channels. Business transformation, however, includes more of the cultural shift necessary to ensure a successful digital transformation.
This can be facilitated by empowering more people to make decisions and take ownership of day-to-day activities instead of directions from the top alone. This improved user experiences and better team-member interactions. People who have a stake or some form of control in the activities of the institution usually feel more fulfilled.