Consumers’ changing financial behavior during the COVID-19 lockdown: the case of Internet banking use in Greece

Alexandros Bechlioulis and Dimitris Karamanis

Journal of Financial Services Marketing, 2023, vol. 28, issue 3, No 6, 526-543

Abstract: Abstract This paper studies the impact of the 1st COVID-19 lockdown in Greece on the internet banking. Our study relies on a survey conducted, during the first lockdown period between April 13th and May 3rd, 2020 in Greece, among respondents between 18 and 64-years-old. The sample was appropriately weighted with the raking method to accurately reflect the distribution of the real population. The main result is straightforward: more days in a lockdown may be associated with an increased possibility for further i-banking use. We provide important insights to financial services’ providers by pointing out female gender, increasing age, living in a metropolitan area and job security status as the most crucial predictors for shaping changing financial behavior.

Keywords: Financial behavior; Consumer sentiments; Financial services; Internet banking; COVID-19 lockdown period (search for similar items in EconPapers)
JEL-codes: C83 G41 G59 (search for similar items in EconPapers)
Date: 2023
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Citations: View citations in EconPapers (1)

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DOI: 10.1057/s41264-022-00159-8

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