Alternative Banking Channels in the Greek Banking Sector

Panagiotis Kostopoulos, Christos Tzovas, Constantinos Chalevas and Nicos Sykianakis

International Journal of Finance, Insurance and Risk Management, 2022, vol. 12, issue 2, 136-168

Abstract: Purpose: This study examines the alternative banking channels employed in Greek banking sector. It investigates customers’ perceptions regarding the advantages and the drawbacks of the existing alternative banking channels. Furthermore, it investigates the effect that the coronavirus pandemic had on the public’s inclination to use alternative banking channels. Design/Methodology/Approach: A questionnaire survey was conducted and a sample of 241 questionnaires was analyzed. In addition, the financial statements of the major Greek banks for the period 2014-2021. Findings: Findings affirmed the predominant role of alternative banking channels compared to traditional forms of banking. Most respondents were satisfied with them and uses them for a wide variety of everyday transactions. Practical implications: It seems that coronavirus pandemic has played a significant role in enhancing the acceptance and penetration of alternative banking channels in Greece. In addition, the extensive use of alternative banking channels appears to have reduced the banks’ operating expenses by lowering banks’ personnel expenses, while operating revenues per employee have increased. Originality/Value: This study contributes to the existing literature on alternative banking channel. Our research has been conducted during the Covid-19 pandemic period and provides evidence testifying that pandemic increased customers’ inclination to use alternative banking channels while affected banks’ business strategies and operations.

Keywords: Alternative banking channels; coronavirus pandemic; internet banking; operating profits. (search for similar items in EconPapers)
JEL-codes: M31 M41 (search for similar items in EconPapers)
Date: 2022
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Persistent link: https://EconPapers.repec.org/RePEc:ers:ijfirm:v:12:y:2022:i:2:p:136-168

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