scholarly journals The impact of COVID-19 on consumer behavior in retail banking. Evidence from Romania

2020 ◽  
Vol 15 (s1) ◽  
pp. 534-556
Author(s):  
Claudia Gabriela Baicu ◽  
Iuliana Petronela Gârdan ◽  
Daniel Adrian Gârdan ◽  
Gheorghe Epuran
Keyword(s):  
Consumer Behavior ◽  
Global Economy ◽  
Banking Sector ◽  
Financial Education ◽  
Positive Influence ◽  
Retail Banking ◽  
Special Focus ◽  
Mobile Banking ◽  
Banking Services ◽  
The Impact

AbstractThe pandemic COVID-19 has severely affected the global economy. The strict lockdown measures have also changed the daily live, including consumer behavior in retail banking. In this context, the purpose of this paper is to investigate the impact of the COVID-19 crisis on consumer behavior in retail banking, with a special focus on the Romanian banking sector. To achieve our goal, we performed a survey among the Romanian consumers in retail banking, using as research method the field survey based on questionnaire. The final sample comprised 738 valid responses from the metropolitan area retail banking consumers. The research brings a fresh insight on retail banking services consumption during the pandemic and validates a conceptual model regarding the internet and mobile banking services acceptance. The research’ results highlighted, among others, that the variable concerning the perception of the COVID-19 pandemic effect on consumers’ lifestyle has a direct and positive influence on the variable regarding the attitude toward internet and mobile banking services, mediated by other variables like safety of internet and mobile banking use and trust in banks. Several social and managerial implications are also discussed, because it is possible that the tendency to use internet and mobile banking services will prevail even after the post pandemic stage, as new consumption behavior models are developing. Banks in Romania should increase their initiatives to offer financial education courses and online tutorials to familiarize customers with the use of digital channels. Banks should also improve communication with clients and design new products and services to increase the attractiveness of saving process. They should demonstrate flexibility in negotiating lending and refinancing conditions as well.

Assessing the Determinants of Adoption of M-Banking by Students

2016 ◽  
pp. 120-136
Author(s):  
Gazal Punyani ◽  
Sourabh Sharma
Keyword(s):  
Banking Sector ◽  
Service Providers ◽  
Banking Industry ◽  
Banking System ◽  
Study Data ◽  
Mobile Banking ◽  
Banking Services ◽  
Technology Adoption Model ◽  
Adoption Model ◽  
The Impact

Technology is entwined in almost every part of one's lives. Today's students are using more technology than ever before. Information technology has revolutionized every industry and especially the banking industry. Tremendous improvements in technology have taken place in the Indian banking sector. Among all, Mobile Banking (m-banking) is the recent phenomenon that changed country's banking system. Students, being considered as most technically knowledgeable make most use of mobile banking services among all the banking customers. Therefore, the focus is particularly towards the young students engaging in m-banking services and to evaluate the factors that influence them to adopt m-banking. The study considers extended Technology Adoption Model (TAM) to measure the impact of the factors on adoption of m-banking. For the study, data was collected through questionnaire from 217 students of Western Rajasthan. The result of this research would provide valuable information to service providers in order to improve their m-banking services.

scholarly journals Key Trends and Regulations of the Development of Digital business Models of banking services in Industry 4.0

2021 ◽  
Vol 25 (5) ◽  
pp. 59-78
Author(s):  
M. N. Dudin ◽  
S. V. Shkodinskii ◽  
D. I. Usmanov
Keyword(s):  
Industry 4.0 ◽  
Business Models ◽  
Banking Sector ◽  
Retail Banking ◽  
Banking Services ◽  
Digital Business Models ◽  
Banking Market ◽  
The World ◽  
Stable Growth ◽  
The Impact

The subject of the research is trends in the implementation of digital technologies in the banking sector. The relevance of the paper is due to the objective processes of global digital intervention of technologies in all spheres of human life and society. The research aims to identify, systematize and generalize key trends and regulations in the development of digital business models of banking services in Industry 4.0. For the first time, the authors identified and systematized modern trends and regulations in the development of digital business models of banking services in Industry 4.0, offered their own conceptual vision of the concept of “digital business model of banking services”. The authors apply general scientific, philosophical, analytical, statistical, problem chronological and historical-genetic methods, as well as methods of expert assessments. The article summarizes the main stages of the evolution of business models of the banking sector, reveals substantive and methodological differences between traditional remote banking services and digital banking, highlights the main business models for organizing digital banking; provides up-to-date data on the level of development of digital banking in the main geographic zones of the world; shows the dynamics and key areas of investment in the fintech industry in 2014–2019 and provides a critical analysis of their conditions; identifies problematic aspects of the development of digital business models of banking; describes the functionality of the main digital business models of Russian banks with the author’s assessment of their capabilities and examples of their use in Russian practice. The authors conclude that the main drivers of digitalization of the banking sector are stable growth of non-cash payments in the world and in Russia; stable growth of the global digital banking market; the impact of the COVID-19 pandemic on the active demand of consumers of remote financial services; increased competition in the retail banking market; and a significant decrease in margins for traditional banking products. Identification and systematization of trends and regulations in the implementation of digital business models of banking services can form the basis for further analysis of the specifics of digitalization and personalization of digital banking in Industry 4.0 for the sustainable socio-economic development of the country in terms of possible advantages and threats to the security of financial resources and personal data of customers.

COVID -19 and Indian Financial Markets: A Review

2020 ◽  
Vol 16 (02) ◽  
pp. 1-8
Author(s):  
Kamaldeep Kaur Sarna
Keyword(s):  
Financial Markets ◽  
Financial Institutions ◽  
Financial Services ◽  
Stock Markets ◽  
Global Economy ◽  
Banking Sector ◽  
Global Financial Crisis ◽  
Negative Impact ◽  
Management Strategies ◽  
The Impact

COVID-19 is aptly stated as a Black Swan event that has stifled the global economy. As coronavirus wreaked havoc, Gross Domestic Product (GDP) contracted globally, unemployment rate soared high, and economic recovery still seems a far-fetched dream. Most importantly, the pandemic has set up turbulence in the global financial markets and resulted in heightened risk elements (market risk, credit risk, bank runs etc.) across the globe. Such uncertainty and volatility has not been witnessed since the Global Financial Crisis of 2008. The spread of COVID-19 has largely eroded investors’ confidence as the stock markets neared lifetimes lows, bad loans spiked and investment values degraded. Due to this, many turned their backs on the risk-reward trade off and carted their money towards traditionally safer investments like gold. While the banking sector remains particularly vulnerable, central banks have provided extensive loan moratoriums and interest waivers. Overall, COVID-19 resulted in a short term negative impact on the financial markets in India, though it is making a way towards V-shaped recovery. In this context, the present paper attempts to identify and evaluate the impact of the pandemic on the financial markets in India. Relying on rich literature and live illustrations, the influence of COVID-19 is studied on the stock markets, banking and financial institutions, private equities, and debt funds. The paper covers several recommendations so as to bring stability in the financial markets. The suggestions include, but are not limited to, methods to regularly monitor results, establishing a robust mechanism for risk management, strategies to reduce Non-Performing Assets, continuous assessment of stress and crisis readiness of the financial institutions etc. The paper also emphasizes on enhancing the role of technology (Artificial Intelligence and Virtual/Augmented Reality) in the financial services sector to optimize the outcomes and set the path towards recovery.

The impact of financial and technological mergers and acquisitions on the world digital economy

2021 ◽  
Vol 14 (2) ◽  
pp. 174-189
Author(s):  
Natal'ya A. KHUTOROVA ◽  
Nikolai A. ROGASHKOV
Keyword(s):  
Global Economy ◽  
Banking Sector ◽  
Digital Economy ◽  
Digital Transformation ◽  
Payment Systems ◽  
Digital Inequality ◽  
Social Risks ◽  
High Volatility ◽  
Percent Contribution ◽  
The Impact

Subject. The COVID-19 pandemic brought IT companies to the leadership positions in terms of many aspects, as they contribute to a new reality and the development of digital economy. It also catalyzed the emergence of large ecosystems among financial institutions and technological giants. The M&A market mainly starts to shape global processes of the global economy digitalization, urging to scientifically comprehend the processes. Objectives. We conduct the critical analysis of the way the M&A market influences the digitalization of the global economy. Methods. Studying the M&A in the Fintech and Techfin segments, we applied methods of analysis, comparison and systematization of the information. Results. We revealed key trends in digital M&A deals, describe the impact and development of such processes in the Russian practice. Conclusions and Relevance. Every year M&A deals in the financial sectors and among IT corporations generates and raises over USD 250 billion in investment, thus making almost a 20-percent contribution to a growth in the digital economy. We found some understudies risks arising from digital M&A deals, such as deal planning risks synergy assessment risks, high volatility risks associated with prices for new companies, compliance risks, digital inequality risk and new social risks. Considering the Russian specifics and predominant positions of the banking sector, the digital transformation in Russia is noted to take place through the FinTech sector gaining momentum. To accelerate the digital constituent, it is reasonable to take the following efforts: introducing the digital Ruble as announced by the Bank of Russia, outlining a programs for supporting and encouraging national IT companies to develop non-banking payment systems and accelerate the digital transformation, connecting not only credit institutions, but also digital developers to the quick payment system of the Bank of Russia.

Fraud Track on Secure Electronic Check System

2018 ◽  
Vol 10 (2) ◽  
pp. 137-144 ◽  
Author(s):  
Ping Zhang ◽  
Yijun He ◽  
Kam-Pui Chow
Keyword(s):  
Global Economy ◽  
Mobile Banking ◽  
Electronic Format ◽  
Banking Services ◽  
Trace Back ◽  
Check System

The Electronic Check (eCheck) is designed to substitute paper checks to enhance the bank service with new ecommerce features in today's global economy, especially meeting the great upsurge of Internet and mobile banking services. The eCheck inherits all features of paper checks in an electronic format with some inherent advantages, as well as some new problems, which will be discussed in this article. Although the concept of eCheck has been put forward for more than two decades, the security of the eCheck system is still the key concern of the whole scheme, as well as the forensic trace of eCheck fraud. In this article, one implementation of a secure eCheck system is introduced which can defend most kinds of eCheck fraud and this article novelly analyzes how to trace back the fraud from a forensic perspective.

scholarly journals An Empirical Analysis of Mobile Banking Adoption in Vietnam

2020 ◽  
Author(s):  
Bui Nhat Vuong
Keyword(s):  
Mobile Phone ◽  
Structural Equation ◽  
Banking Sector ◽  
Service Providers ◽  
The Body ◽  
Equation Modeling ◽  
Perceived Behavioral Control ◽  
Intention To Use ◽  
Mobile Banking ◽  
Banking Services

Mobile phones with banking technology are becoming more readily available in Vietnam. Similarly, many financial institutions and mobile phone service providers are teaming up to provide several banking services to customers via the mobile phone. However, the number of people who choose to adopt or use such technologies is still relatively low. Therefore, there is a need to assess the acceptance of such technologies to establish factors that hinder or promote customer’s intention to use mobile banking. Survey data collected from 452 consumers was analyzed to provide evidence. Results from the partial least squares structural equation modeling (PLS-SEM) using the SmartPLS 3.0 program indicated that perceived easy to use, perceived credibility, usefulness, attitude, perceived behavioral control and subjective norm are significant with respect to the customer’s intention to use mobile banking services. The results of the data analysis contribute to the body of knowledge by demonstrating that the above factors are critical in intention to use mobile banking in a developing country context. The finding of this study can also help marketers in the banking sector offer more suitable marketing strategies in their field in order to make higher attractiveness with mobile banking

scholarly journals Impact of Information and Communication Technology on Service Quality of Banking Sector: A Comparative Study of Private and Public Sector Banks in Gwalior and Chambal Region

2017 ◽  
Vol 7 (1) ◽  
pp. 20
Author(s):  
Anil Vashisht
Keyword(s):  
Service Quality ◽  
Banking Sector ◽  
Banking Services ◽  
Public Sector Banks ◽  
Effective Implementation ◽  
Private And Public ◽  
Information And Communication ◽  
The Impact ◽  
Adoption Pattern

<div><p><em>This paper studies the impact of IT in the service quality of banking sector. The purpose of the intended research involves determining bank adoption pattern of electronic media, factors constituting drivers and inhibitors for bank adoption, dimensionality of e-banking services quality as affected by IT, and customer adoption of such services. The study has also highlighted the determinants of service quality are directly influenced by IT and to explore what are the enabling and retarding factors for effective implementation and upsurge of IT system in banks.</em></p></div>

scholarly journals FACTORS AFFECTING CUSTOMER SATISFACTION AND RECOMMENDATION OF MOBILE BANKING SERVICES IN MOROCCO

2021 ◽  
Vol 6 (3) ◽  
Author(s):  
Samir Boujaddaine ◽  
Ahmed Taqi
Keyword(s):  
Customer Satisfaction ◽  
Banking Sector ◽  
Mobile Banking ◽  
Banking Services ◽  
Factors Affecting ◽  
Satisfaction Index ◽  
Index Model ◽  
American Customer Satisfaction Index ◽  
Indirect Relationship ◽  
The Relationship

This paper is an application of a variation of American Customer Satisfaction index model in the context of Moroccan banking sector. We specifically chose mobile banking and added a variable that is the service recommendation factor, the results of our work have proved that the hypotheses proposed by our model are validated except the relationship between the perceived quality and customer satisfaction and which can be explained by the indirect relationship through the perceived value. JEL: M31, Z33 <p> </p><p><strong> Article visualizations:</strong></p><p><img src="/-counters-/edu_01/0852/a.php" alt="Hit counter" /></p>

scholarly journals Dimensions of perceived risk of mobile banking apps: An empirical investigation of South African retail banking customers.

10.29007/v4j1 ◽  
2019 ◽  
Author(s):  
Philile Thusi ◽  
Daniel K. Maduku
Keyword(s):  
South African ◽  
Perceived Risk ◽  
Strong Relationship ◽  
Negative Influence ◽  
Positive Influence ◽  
Mobile Commerce ◽  
Retail Banking ◽  
Mobile Banking ◽  
Customer Trust ◽  
Retail Banks

Banking transactions carried out in the uncertain conditions of mobile commerce involve highlevels of perceived risk and require substantial levels of trust. Therefore, gaining customer trust and reducing the influence of risk is imperative to developing and nurturing long-lasting and strong relationship between customers and retail banks. However, limited research is currently investigating the effects of overall perceived risk and trust on retail banking customers use of mobile commerce, particularly from the perspective of emerging African economies. This study investigates the effects of perceived risk and institution-based trust on the use of mobile banking apps among South African retail bank customers. The model was tested using responses obtained from 352 users of the mobile banking services of the five major retail banks (ABSA, Capitec, FNB, Nedbank, and Standard Bank) in South Africa. The findings of this study suggest that institution- based trust has a significant positive influence on use behaviour of mobile banking apps. Furthermore, perceived risk has a significant negative influence on use behaviour; and, lastly, institution-based trust is found to have a significant negative influence on perceived risk.

Identifying Different Forms of Innovation in Retail Banking

2014 ◽  
pp. 1539-1553
Author(s):  
Véronique Favre-Bonte ◽  
Gardet Elodie ◽  
Catherine Thevenard-Puthod
Keyword(s):  
Banking Sector ◽  
New Technology ◽  
Distribution Channel ◽  
Retail Banking ◽  
Process Innovations ◽  
Radical Innovations ◽  
Different Types ◽  
The Impact ◽  
New Distribution

To be competitive and capture new customers, banks must develop continuous innovations that can reduce costs, enhance existing service quality, expand current service offerings, and increase market share. This article proposes a typology of different types of innovation in the retail banking sector on the basis of a case study of the leading French credit institution, Crédit Agricole. This bank does not innovate just incrementally, and radical innovations resulted from the launch of a new distribution channel, though several innovations are unrelated to new technology. This study adds to literature on innovation services by enhancing understanding of the different types of innovation. The empirical investigation further shows that the banking sector can develop process innovations, which give the bank a longer term competitive advantage. To innovate radically, the bank should anticipate the impact of its new offerings on different areas of the system.

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