What do bankers think about Halal financial services?

2019 ◽  
Vol 7 (2) ◽  
pp. 18
Author(s):  
Zaimy Johana Johan ◽  
Mohd Zainee Hussain
Keyword(s):  
Customer Service ◽  
Financial Services ◽  
Structured Interview ◽  
City Centre ◽  
Kuala Lumpur ◽  
Financial Industry ◽  
Product Packaging ◽  
Financial Products ◽  
Product Features ◽  
Banking Institutions

Over the past three decades, Malaysian halal financial services have become one of the fastest growing industries with a range of products and services accepted by both Muslims and non-Muslims.  However, the Islamic financial products and its Islamic banking institutions are facing stiff competition from conventional products in relation to marketing coverage, branding, product packaging and other pivotal aspects such as product features, benefits and advantages.  Moreover, there is an immense pressure on the institutions to remain competitive along with the national goals of building shariah-driven ecosystem within the halal industry.  Against the backdrop of the competitive financial industry landscape, this qualitative study examines the crucial attributes of Islamic financial services with focus on knowledge, attitude and level of acceptance of bankers in promoting, marketing and selling Islamic financial products and services.  Employing semi structured interview technique; customer service officers of seven banks within Kuala Lumpur City Centre were selected.  This exploratory study is aimed to identify the perception of bankers towards halal financial services and the study has discovered bankers' knowledge, attitude and level of acceptance of specific products can generate customer’s positive perception, awareness and acceptance of the product offered which will increase their satisfaction and loyalty.  This study is expected to promote knowledge advancement and understanding of Islamic financial services towards fostering a healthy and complete offering of shariah compliant financial solutions. It can later further expand the asset base and outreach of the Islamic financial industry, and subsequently contributes towards increased customer satisfaction and loyalty.

Are non-Muslims willing to patronize Islamic financial services?

2019 ◽  
Vol 10 (3) ◽  
pp. 743-758 ◽  
Author(s):  
Wan Marhaini Wan Ahmad ◽  
Mohamed Hisham Hanifa ◽  
Kang Choong Hyo
Keyword(s):  
Financial Services ◽  
Kuala Lumpur ◽  
Financial Industry ◽  
Content Type ◽  
Korean People ◽  
South Korean ◽  
Financial Products ◽  
Muslim Majority ◽  
Near Future ◽  
Practical Implications

Purpose The purpose of this paper is to investigate the awareness of non-Muslims coming from a non-Muslim-majority country regarding Islamic financial services, in particular, the takaful products. Design/methodology/approach This paper uses structured questionnaires to acquire and understand South Korean citizens’ perceptions of Islamic financial services (primarily takaful) to reinforce the scant previous literature in this area of research. The questionnaires are developed and adapted based on a previous study by Htay and Salman (2013). The sample consisted of 121 Korean people who were living in Ampang, a popular suburb for South Koreans in Kuala Lumpur. Findings The findings indicate that even South Korean citizens who have dwelled in Malaysia for a significant amount of time had little awareness of Islamic financial services. Upon personal explanation about the product, however, they showed a significant interest to get to know about takaful and a willingness to subscribe to it in the near future. Research limitations/implications Respondents are limited to only South Koreans who are residing in Malaysia. Practical implications Understanding the level of awareness about Islamic financial services among non-Muslims residing in Muslim-majority country. Social implications There is ample scope to penetrate the non-Muslim market for Islamic financial products. Originality/value There is a growing concern over the lack of research in the area of perceptions of Islamic financial services among non-Muslims from non-Muslim-majority countries. The lack of study in this area of research has often been overshadowed by research studies on perceptions of Islamic financial services among non-Muslim residents in Muslim-majority countries, which may have led to a dearth of proper strategies in the Islamic financial industry to penetrate non-Muslim-majority markets.

scholarly journals Place Attachment as Indicator for Place Significance and Value

2018 ◽  
Vol 3 (10) ◽  
pp. 95
Author(s):  
Norsidah Ujang ◽  
Khalilah Zakariya
Keyword(s):  
Place Attachment ◽  
Publishing House ◽  
Structured Interview ◽  
City Centre ◽  
Kuala Lumpur ◽  
Daily Experience ◽  
Interview Method ◽  
Environmental Setting ◽  
International Publishing ◽  
Attachment Dimensions

Place attachment is a form of connection between a person and the environmental setting. In the production of urban places, planners and designers mainly focus on the quality of the physical components. However, the aspects of meanings and attachment are not adequately considered in the planning and decision-making process. This study utilizes semi-structured interview method to examine place attachment dimensions in understanding the values of a place in the life of the users. Sample cases include examining attachment to streets in the city centre of Kuala Lumpur, Malaysia. It was evident that users’ roles and ethnic backgrounds influenced their responses. Attachment to the places was economically, socially and culturally oriented and prevalent in their daily experience of the places, and the place memories recalled. Keywords: Place attachment; meaning; value; userseISSN 2398-4295 © 2018. The Authors. Published for AMER ABRA cE-Bs by e-International Publishing House, Ltd., UK. This is an open-access article under the CC BY-NC-ND license (http://creativecommons.org/licenses/by-nc-nd/4.0/). Peer–review under responsibility of AMER (Association of Malaysian Environment-Behaviour Researchers), ABRA (Association of Behavioural Researchers on Asians) and cE-Bs (Centre for Environment-Behaviour Studies), Faculty of Architecture, Planning & Surveying, Universiti Teknologi MARA, Malaysia.

scholarly journals Digital transformation of the financial industry: The substance and trends

Upravlenets ◽  
2020 ◽  
Vol 11 (3) ◽  
pp. 72-81
Author(s):  
Ivan Kotliarov
Keyword(s):  
Financial Market ◽  
Financial Services ◽  
Global Economy ◽  
Digital Transformation ◽  
Methodological Framework ◽  
Financial Industry ◽  
Distinctive Features ◽  
Financial Products ◽  
Analysis And Synthesis ◽  
Unified Description

Digital transformation (digitization) of the financial industry is the reason behind the deep change in the models of interaction between actors in the financial market. However, a generally accepted interpretation of digitalization has not yet been proposed. The paper discusses the distinctive features of the financial industry digitalization and uses them as a basis for offering a unified description of the nature of this transformation. The methodological framework is the notion of three types of innovation – technology, organization, and product. The research methods used in the article are analysis and synthesis. The paper demonstrates how the types of innovation determine the nature of the digital transformation of the financial industry and how they are manifested in various digital financial products. Digital transformation of finance includes two aspects: (a) Fintech revolution, i.e. technological companies entering the financial market, and (b) adoption of innovative digital technologies by traditional financial companies. We propose the 4U model to describe the marketing aspect of the financial industry digital transformation and introduce the concept of flexible finance as a way to provide financial services that suggest lower liability of financial institutions. The research results show that, firstly, digital transformation of the financial industry is not limited to the technological aspect but also includes organizational and product-related elements. Secondly, the trends in the financial industry digitalization are similar to those in the digital transformation of the global economy.

Functioning of the Fast Payment System in Russia

2021 ◽  
pp. 23-28
Author(s):  
A. Zverev ◽  
Viktoria Valerievna Mandron ◽  
A. Sereda
Keyword(s):  
Customer Service ◽  
Financial Services ◽  
Payment System ◽  
Financial Industry ◽  
Banking Services ◽  
Customer Base ◽  
Market Participants ◽  
New Information ◽  
Banking Business ◽  
Remote Interaction

Digital transformation is the main direction of development of the national financial industry. Traditional banking services are being transferred to online services, especially in the context of the rapid growth of e-commerce. The introduction of new information channels of remote interaction allows credit institutions to reduce their costs, improve the quality and speed of customer service, balance active and passive operations, expand the «line» of banking products and financial services, stabilize and expand the customer base. The development of the banking business based on the introduction of a fast payment system is becoming a necessity for all categories of retail and corporate clients. The creation and development of the infrastructure of the fast payment system is a priority project of the Bank of Russia for the development and expansion of non-cash payments. This project is aimed at developing the availability of financial services in remote regions of Russia and reduces the costs of market participants.

scholarly journals Financial marketing as a tool for customer loyalty in national banking

Minerva ◽  
2021 ◽  
Vol 2 (6) ◽  
pp. 43-49
Author(s):  
Mario Vasquez ◽  
Edith Naranjo
Keyword(s):  
Applied Sciences ◽  
Customer Service ◽  
Customer Loyalty ◽  
Financial Services ◽  
Financial Marketing ◽  
University Management ◽  
Financial Services Marketing ◽  
Florida Atlantic University ◽  
Banking Institutions ◽  
Nueva Granada

This research studies financial marketing as a tool for customer loyalty in national banking, conducting a bibliographic review that reveals the importance of these elements, since its main purpose is to propose strategies that allow not only the positioning of the brands, but to attract customers to offer the multiple services that a bank can offer. The results support the facts and allowed the verification of the hypothesis, highlighting that financial marketing is known andapplied by most banking institutions and that this marketing is centralized to launch general strategies applicable throughout the Ecuadorian territory, loyalty is managed by the same departments as they go hand in hand with customer service, services offered, benefits, among other motivations. Keywords: Marketing, Financial Marketing, Loyalty, Clients, National Banking. References [1]J. Madura, «Marheting Financiero y Empresas,» Florida Atlantic University, p. 253, 2021. [2]A. Bouzada, «Respuesta de los bancos locales a la caída de las tasas internacionales a partir del año 2008,» Universidadde la República de Uruguay, 2020. [3]O. Mehecha, «Estrategias competitivas de marketing financiero en el sector bancario: Percepción del cliente,» RevistaVenezolana de Gerencia, vol. 24, nº 88, 2019. [4]E. Núñez, «El Marketing Financiero: Evolución de las entidades Bancarias,» Organización de Empresas, Marketingy Sociología, 2015. [5]C. Rodríguez, «Análisis De Las Estrategias De Fidelización Como Apoyo A Las Principales Entidades PrestadorasDe Servicios Financieros En Colombia,» Universidad Militar de Nueva Granada, p. 20, 2017. [6]V. Mesén, «Fidelización de clientes: concepto y perspectiva contable,» Tec Empresarial, 2017. [7]C. Mertzanis, «Marketing Financial Services and Products in Different Cultural Environments,» Risk and ContingencyManagement, Enero 2017. [8]D. Bapat, «Marketing of Financial Services,» Biztantra Publications, Agodto 2014. [9]A. Meidan, «Marketing Financial Services,» Sheffield University, Management SchoolUK, 1996. [10]E. Ehrlich and D. Fanelli, «The Financial Services Marketing Handbook,» John Wiley & Sons, Inc., Hoboken, NewJersey, 2012. [11]A. Ahmad and N. Raja, «Determinants of Customer Loyalty: A Review and Future Directions,» Australian Journal ofBasic and Applied Sciences , Julio 2018.

scholarly journals PENILAIAN KINERJA TELLER DALAM UPAYA MENINGKATKAN PELAYANAN NASABAH PT. BPR OPHIRPASAMAN BARAT

2020 ◽  
Author(s):  
Merina Wati ◽  
Elva Dona
Keyword(s):  
Data Collection ◽  
Customer Service ◽  
Financial Services ◽  
Financial Institution ◽  
Financial Industry ◽  
The Public ◽  
Descriptive Qualitative

Banking is one business entity that seeks in the field of financial services. PT. BPR Ophir Pasaman Barat is a financial institution that raises savings and distributes funds to the public. The spearhead of the financial industry is service, at PT. BPR Ophir Pasaman Barat main service is at the teller. The formulation of the problem taken is how the performance of teller PT. BPR Ophir Pasaman Barat. The purpose of this study to determine the performance of tellers in improving customer service PT. BPR Ophir Pasaman Barat.Reseorch methods descriptive qualitative in which judgement sampling, in data collection to conduct research on customers of PT. BPR Ophir Pasaman Barat from the twenty-fifth to the twenty-seventh of January 2018. The researcher interviewed thirty customers at that time was the customer who had transacted with the teller. The ratings assessed by the customer are five indicators or aspects (Tangible, responsiveness, assurance, reliability, and Emphaty). Conclusions drawn from customer ratings about teller service at PT. BPR Ophir Pasaman Barat is good.

Introduction of Financial Technologies in Digital Banking

2021 ◽  
Vol 9 (11) ◽  
pp. 614-617
Author(s):  
Kudratova Feruza Nasriddinovna
Keyword(s):  
Financial Services ◽  
Services Quality ◽  
Banking System ◽  
Financial Sector ◽  
Digital Economy ◽  
Financial Industry ◽  
Main Subject ◽  
Financial Products ◽  
Technology Startups ◽  
Financial Technology

Abstract: Presently, the whole world is concerning about digitalization that has affected all areas of people's lives, and financial sector is no exception. Today, Financial Technology (FinTech) is recognized as one of the most important and rapidly evolving innovations in the financial industry. FinTech has promised that technology startups will reduce costs, improve financial services quality and create a more diverse and sustainable financial outlook. Fintech services are indispensable part of every single financial products and services. In this regards, it is of great importance to consider carefully their services in banking system and opportunities provided by them in, which is the main subject of this article. Keywords: financial technologies, digital banking, digital economy.

scholarly journals A Bibliometric Analysis of Fintech Trends and Digital Finance

2022 ◽  
Vol 9 ◽  
Author(s):  
Said Khalfa Mokhtar Brika
Keyword(s):  
Bibliometric Analysis ◽  
Financial Services ◽  
Current Knowledge ◽  
Future Research ◽  
Financial Industry ◽  
Research Gaps ◽  
Financial Products ◽  
Wide Range ◽  
Creative Research ◽  
Financial Technology

Digital finance has piqued the curiosity of academics, students, and institutions all around the globe for more than a decade. Innovative financial services companies are offering a wide range of new financial products and new ways of interacting with customers via digital finance (Fintech). Research on finance and information systems has thus examined these shifts as well as the implications of technological advancements on the financial industry. Through presenting a bibliometric analysis, the article summarizes how scientific research has developed on the connections between financial technology developments and digital finance during the previous years. According to the ScienceDirect database, we base this literature review on journals and articles that have been published. We conducted a content analysis of 343 articles based on the discovered clusters, finding research gaps and suggesting actionable areas for further study. The results offer a solid path for future research in this area. We discuss the significance of the aforementioned publications and articles as well as potential areas of future study. The next step is to analyze the citation linkages between the most important articles to identify how they are related to one another. For financial technology research, the study looks at the way they are organized. The research is concerned with the roles of Fintech and the limits of research in digital financing. We point out potential routes for researchers to take to expand on current knowledge while also seeking possibilities for new, interesting, and creative research that adds to the expansion of the topic of research.

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