Digital Banking in the New Era: Exploring Customers’ Attitudes

Stavros Valsamidis (), Lambros Tsourgiannis (), Dimosthenis Pappas () and Eirini Mosxou ()
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Stavros Valsamidis: International University of Greece
Lambros Tsourgiannis: Department Directorate of Public Health and Social Care of Regional District of Xanthi
Dimosthenis Pappas: International University of Greece
Eirini Mosxou: International University of Greece

A chapter in Business Performance and Financial Institutions in Europe, 2020, pp 91-104 from Springer

Abstract: Abstract The digitalization of banking sector is a direct consequence of the overall digitalization of the economy. Today’s demand is anytime anywhere banking. This requires innovative, robust, secure, optimized and ready to meet the expectations of empowered and tech-savvy customers. As a result of these changes, it is important to capture the new reality in relation to the banking environment, through the views of customers. This study aims to explore customers’ attitudes towards the use of digital services and applications in banking sector. In particular, it aims to identify the factors that affect customers’ attitudes towards those applications, to classify them into groups according to their similar behaviour patterns and to profile each group of customers according to their demographic characteristics and other factors. Principal component analysis (PCA) was conducted to identify the main factors that affect citizens’ attitudes towards the use of digital services and applications in banking sector. Cluster analysis was performed to classify citizens into groups with similar behaviour whilst discriminant analysis conducted to check cluster predictability. Non-parametric tests performed to profile each group of customers according to their demographic characteristics and other factors. PCA identified three main factors that customers’ attitudes towards those applications: (a) better service, (b) cautiousness and (c) timelines/directness. Cluster analysis classified customers into three groups according to their purchasing behaviour towards the use of those digital services/applications (i) those that are in favour of, (ii) opportunists and (iii) sceptical. Chi-square analysis indicated that demographic characteristics such as gender, age, education, marital status, income have an impact on customers’ particular behaviour. Furthermore, Friedman non-parametric test identified that some other opinion of customers regarding the use of digital applications in comparison with those of traditional banking services are also related with their behaviour towards those digital banking applications.

Keywords: Digital banking; Customers; Questionnaire; Principal component analysis; Cluster analysis; Discriminant analysis; G21; L86 (search for similar items in EconPapers)
Date: 2020
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DOI: 10.1007/978-3-030-57517-5_6

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