scholarly journals How Does FinTech Affect Consumer Non-cash Payment Satisfaction? The Moderating Role of Financial Knowledge

2021 ◽  
pp. 217-231
Author(s):  
Fuzhong Chen ◽  
Xiaoyan Chen
Keyword(s):  
Financial Services ◽  
Consumer Satisfaction ◽  
Service Providers ◽  
First Century ◽  
Financial Knowledge ◽  
Mechanism Analysis ◽  
Cash Payment ◽  
Increasing Demand ◽  
Moderating Role

As the merger of innovations from developing financial services for the twenty-first century, FinTech has brought payment methods into a new and electronic era, and non-cash payment is gradually becoming the mainstream for transaction activities. This study empirically investigates the effects of FinTech on consumer non-cash payment satisfaction, and the moderating role of financial knowledge is examined as well. Utilizing the data from the China Household Finance Survey in 2017, the results indicate that the use of FinTech can significantly promote consumer satisfaction towards non-cash payment. The mechanism analysis specific to the moderating role also shows that financial knowledge positively contributes to the impacts of FinTech on consumer non-cash payment satisfaction. The findings of this study imply that financial service providers are recommended to promote their facilities to meet consumers’ increasing demand for financial services. Besides, consumers should also take the initiative to improve their financial knowledge to better integrate non-cash payment into life and enjoy the satisfaction brought by FinTech.

scholarly journals Servitization strategies from customers’ perspective: the moderating role of co-creation

2019 ◽  
Vol 34 (3) ◽  
pp. 628-642 ◽  
Author(s):  
José L. Ruiz-Alba ◽  
Anabela Soares ◽  
Miguel A. Rodríguez-Molina ◽  
Dolores M. Frías-Jamilena
Keyword(s):  
Structural Equation ◽  
Business Models ◽  
Service Providers ◽  
Moderating Effect ◽  
Mediating Effect ◽  
Content Type ◽  
The Impact ◽  
Moderating Role ◽  
Different Levels

Purpose This paper aims to investigate the moderating role of co-creation in the implementation of servitization strategies in the pharmaceutical industry in a business-to-business (B-to-B) context. More specifically, this investigation explores the impact of different levels of services (base, intermediate and advanced) on servitization and on performance by using co-creation as a moderating factor. Design/methodology/approach A research framework was developed and empirically tested in the pharmaceutical sector. Data collection was conducted through the online distribution of questionnaires. The final sample included 219 pharmacy stores, and the data were analysed using structural equation modelling. Findings Main findings suggest that when the level of co-creation of the design of services is high, there are significant effects of servitization on firm performance. The moderating effect of co-creation is illustrated in regard to intermediate and advanced services, but results referring to the impact of intermediate services on servitization appear non-significant with a low degree of co-creation. No significant effects could be found for the impact of base services on performance and servitization for both high and low degrees of co-creation. Findings show an impact of advanced services on performance through the mediating effect of servitization when the degree of co-creation is high. Originality/value Most research concerning servitization has been done from the perspective of manufacturers and service providers. This study adds value to the literature because it was designed from a customer’s perspective. Moreover, it contributes towards the conceptualization of the servitization research strategy and business models in a B2B context. This is accomplished through the investigation of the moderating effect of co-creation on the impact of the different levels of services on servitization and on performance.

How Customer Analytics and Digital Technologies Drive Banks to Understand Consumer Awareness Towards Financial Inclusion

2018 ◽  
pp. 66-85
Author(s):  
Yuvraj Sharma
Keyword(s):  
Financial Institutions ◽  
Financial Services ◽  
Digital Technologies ◽  
Financial Inclusion ◽  
Primary Data ◽  
Related Data ◽  
Customer Analytics ◽  
Clear Communication ◽  
Increasing Demand

In today's switching economy, customers' needs are changing and they are demanding more transparency, higher involvement, and clear communication in day-to-day banking processes. The rationale behind carrying out the present research is to identify the role of customer analytics in the new digital customer journey in terms of enhancing their engagement, loyalty, and satisfaction. The present research emphasizes opportunities that would accrue to financial institutions after demonetization and collecting large amount of demographics, customer transaction, and account-related data. Primary data was collected from 300 customers through a structured questionnaire to know their perceptions about the role of customer analytics and digital technologies to build their confidence and capability to use financial services. This study brings out the customer analytics trends and identifies the reasons due to which banks are struggling to keep pace with the increasing demand of both digital savvy and traditional consumers.

Mobile Financial Services

2020 ◽  
pp. 96-119
Author(s):  
Alexander Maina Kimari ◽  
Eric Blanco Niyitunga
Keyword(s):  
Financial Services ◽  
Developing World ◽  
Service Providers ◽  
Customer Experience ◽  
Financial Service ◽  
Financial Inclusion ◽  
The Poor ◽  
Financial Exclusion ◽  
Mobile Financial Services

The chapter explores financial exclusion, its causes, and consequences in society. The chapter found that the existing discrepancy in financial inclusion between the developed and developing world is driven by financial exclusion that makes it difficult for financial service providers to expand outreach to the poor at affordable prices. The chapter aims to investigate the role of mobile financial service design and development in dealing with financial exclusion. It was found that mobile financial services are promoting financial inclusion in various markets. However, few studies have been undertaken on the benefits of mobile financial services in dealing with the high rates of financial exclusion. The chapter recommended that to achieve financial inclusion, there is need for mobile financial services providers to take into account customer experience through the ease of using the phone interface. The chapter concluded that there is need for scholars in the fields of finance and economics to conduct research in the areas of mobile financial services and their role in society.

scholarly journals FinTech in COVID-19 and Beyond: What Factors Are Affecting Customers’ Choice of FinTech Applications?

2020 ◽  
Vol 6 (4) ◽  
pp. 153 ◽  
Author(s):  
Mohammad K. Al nawayseh
Keyword(s):  
Financial Services ◽  
Structural Equation ◽  
Service Providers ◽  
Equation Modeling ◽  
Intention To Use ◽  
Factors Affecting ◽  
Modeling Techniques ◽  
Customer Trust ◽  
The Relationship

Accessing financial services is considered one of the main challenges facing communities during crises. This research studies the role of using FinTech applications to build resilience during the COVID-19 pandemic. The research empirically examines the factors affecting Jordanian citizens’ intention to use FinTech applications. The sample of the research comprised 500 potential FinTech service users in Jordan. Based on the research conceptual model, five hypotheses were developed and tested using structural equation modeling techniques (SEM-PLS). The research results indicate that perceived benefits and social norms significantly affect the intention to use FinTech applications. However, it has been found that perceived technology risks do not significantly affect the intention to use FinTech applications. Moreover, the results also indicate that customer trust is significantly mediating the relationship between perceived risks and intention to use FinTech applications. FinTech service providers should insure that their products are easy to use, fulfill needs and protect consumers’ data in order to ensure trust, hence positively influencing consumer adoption.

scholarly journals The bittersweet experience of being envied in a consumption context

2016 ◽  
Vol 50 (7/8) ◽  
pp. 1239-1262 ◽  
Author(s):  
Simona Romani ◽  
Silvia Grappi ◽  
Richard P. Bagozzi
Keyword(s):  
Consumer Satisfaction ◽  
Well Being ◽  
Mitigation Strategies ◽  
Content Type ◽  
Coping Responses ◽  
Positive Feelings ◽  
Relationship Factors ◽  
Negative Feelings ◽  
Moderating Role

Purpose Very limited research exists examining envy from the viewpoint of an envied consumer, rather than an envier. This paper aims to address this gap by examining whether and how the experience of being envied actually affects consumers. Design/methodology/approach This paper presents three experiments. Study 1 investigates the ambivalent experience of being envied. Study 2 examines the effect of being envied in consumption contexts on consumer satisfaction, analyzing the combined ambivalent effects of positive and negative feelings. It also investigates the moderating role played by consumer coping responses to enviers (mitigation vs exacerbation). Finally, Study 3 applies the hypothesized model in a specific context (i.e. a material possession context), focusing on adult consumers. Findings Results show that negative (e.g. guilt and anxiety) and positive (e.g. sense of well-being and prestige) feelings for being envied depend on the type of relationship between the envier and the envied, and the type of desired object, and consumer satisfaction is driven by the combined ambivalent effects of positive and negative feelings, where coping responses by envied consumers moderate the effects of such feelings on satisfaction. Originality/value This paper makes three main contributions: it extends prior research by highlighting the role of personal relationship factors and the type of object of desire in the experience of being envied; demonstrates that both positive and negative feelings of being envied affect consumer satisfaction; and shows conditions regulating the influence of positive and negative feelings on satisfaction, demonstrating that mitigation strategies decrease the effects of negative feelings on satisfaction, whereas exacerbation strategies failed to regulate the effects of positive feelings.

The role of employee empowerment in the implementation of continuous improvement

2017 ◽  
Vol 37 (10) ◽  
pp. 1563-1579 ◽  
Author(s):  
Ann-Kathrin Hirzel ◽  
Michael Leyer ◽  
Jürgen Moormann
Keyword(s):  
Continuous Improvement ◽  
Financial Services ◽  
Service Providers ◽  
Research Question ◽  
Open Communication ◽  
Structural Empowerment ◽  
Content Type ◽  
Time Lagged ◽  
Over Time

Purpose The purpose of this paper is to understand the role of increasing employees’ level of continuous improvement (CI) empowerment, i.e. employees’ knowledge and understanding of CI, the possibility of open communication and support from the work environment regarding CI, in the implementation of CI over time. Design/methodology/approach Based on the theory of structural empowerment, the authors test the research question using evidence from a case study in a European financial services provider. Data are gathered with questionnaires on a team level and cover a period of 2.5 years including 780 participants. Findings The findings show that after conducting a CI programme in the case, there is a significant increase in employees’ CI empowerment over time, which has a positive but time-lagged relationship with the level of CI implementation. Research limitations/implications Implications are that CI empowerment can be created sustainably and is an important factor in establishing CI in a company, but that it takes time until empowerment leads to changes in behaviour. However, it has to be considered that these implications are solely derived from empirical results from a single company. Practical implications Financial service providers should invest in establishing CI empowerment and consider a delay in realising measurable benefits in terms of the level of CI implementation. Originality/value This paper is the first empirical study to examine the relationship between employee CI empowerment and the implementation of CI from a longitudinal perspective.

The Effect of Assortment Pricing on Choice and Satisfaction: The Moderating Role of Consumer Characteristics

2017 ◽  
Vol 59 (1) ◽  
pp. 6-14 ◽  
Author(s):  
Choongbeom Choi ◽  
Anna S. Mattila ◽  
Arun Upneja
Keyword(s):  
Consumer Satisfaction ◽  
Product Assortment ◽  
Preference Uncertainty ◽  
Health Consciousness ◽  
Consumption Choices ◽  
Choice Satisfaction ◽  
Psychological Mechanism ◽  
The Impact ◽  
Moderating Role

Although consumer research has extensively examined the effect of product assortment on consumption choices, relatively little has been done on assortment pricing. To bridge that gap, we demonstrate that consumers react differently to assortments using parity versus differentiation pricing. Study 1, a field experiment, shows that the impact of assortment pricing on choice satisfaction is contingent on the level of uncertainty preference. For individuals with a low level of preference uncertainty, their choice satisfaction was significantly higher when all the menu items were priced at parity. Conversely, choice satisfaction was higher with varied pricing among people with high levels of preference uncertainty. In Study 2, we examine the moderating role of health consciousness on consumer reactions to parity versus differentiation pricing. The findings of Study 2 indicate that health consciousness influences consumer satisfaction with assortment pricing in a context of restaurant menus. Furthermore, findings from a moderated mediation analysis show that choice confidence is the psychological mechanism that underlies these effects. Taken together, these findings add to the relatively scant literature on assortment pricing.

Customer Equity Drivers, Customer Experience Quality, and Customer Profitability in Banking Services: The Moderating Role of Social Influence

2019 ◽  
Vol 23 (2) ◽  
pp. 174-193 ◽  
Author(s):  
Lily (Xuehui) Gao ◽  
Iguácel Melero-Polo ◽  
F. Javier Sese
Keyword(s):  
Social Influence ◽  
Financial Services ◽  
Firm Value ◽  
Customer Experience ◽  
Customer Equity ◽  
Banking Services ◽  
Relationship Equity ◽  
The Impact ◽  
Moderating Role

Financial service organizations are increasingly interested in ways to improve the service experience quality for customers, while customers progressively perceive the commoditization of banking services. This is no easy task, as factors outside the control of the service firm can influence customers’ perceptions of their experience. This study builds on the customer equity framework to understand the linkages between what the firm does (customer equity drivers: value equity, brand equity, and relationship equity), the social environment (social influence), the customer experience quality, and its ultimate impact on profitability. Using perceptual and transactional data for a sample of customers of financial services, we demonstrate the central role played by factors under the control of the firm (value, brand, and relationship equity) and those outside its control (social influence) in shaping customers’ perceptions of the quality of their experience. We offer new insights into the moderating role of social influence in the linkages between the customer equity drivers and the customer experience quality. The managerial takeaway is that the impact of customer equity drivers on the customer experience quality is contingent on the influence exerted by other people and that enhancing customer experience quality can be a way to increase monetary returns.

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