Consumer awareness and acceptance of digital-only banks

Katarzyna Schmidt-Jessa () and Maciej Stradomski
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Katarzyna Schmidt-Jessa: Corresponding author; Poznań University of Economics and Business, Department of Money and Banking
Maciej Stradomski: Poznań University of Economics and Business, Department of Investment and Financial Markets

Bank i Kredyt, 2023, vol. 54, issue 4, 389-418

Abstract: The study verifies customers’ acceptance as well as knowledge and awareness of the new business model of a bank – a digital-only bank. Using Computer Assisted Web Interviews, data were collected through a questionnaire from 515 adults in Poland. The Mann-Whitney U test and the Spearman rank correlation coefficient significance test were used to verify the hypotheses. Our analysis shows that there is a relationship between knowledge and awareness, as well as innovativeness, and the use of the services of a digital-only bank. The higher the knowledge and awareness as well as the innovativeness, the greater the intention to use the services of a digital-only bank. The findings of this study provide important guidelines regarding the strategy of development for banks operating under an innovative business model.

Keywords: digital-only bank; virtual banking; FinTech; consumer behaviour; innovation acceptance (search for similar items in EconPapers)
JEL-codes: D19 G21 O33 (search for similar items in EconPapers)
Date: 2023
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Persistent link: https://EconPapers.repec.org/RePEc:nbp:nbpbik:v:54:y:2023:i:4:p:389-418

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