Privacy frontiers in customers’ relations with banks

Piotrowski Dariusz ()
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Piotrowski Dariusz: Department of Financial Management, Faculty of Economic Sciences and Management, Nicolaus Copernicus University, ul. Gagarina 13a, 87-100 Toruń, Poland

Economics and Business Review, 2023, vol. 9, issue 1, 119-141

Abstract: The widespread use of digital technologies in banking allows banks to obtain and analyse huge amounts of data from different communication channels. While this phenomenon is conducive to improving the quality of services it also increases the risk of privacy breaches. The aim of this study is to identify what factors determine consumer acceptance of banks’ use of public access personal data found on social media accounts. The results indicate the importance of the financial incentive and consumers’ assessment of banks’ information activities regarding the processing of personal data. Determinants relating to the technological sophistication of respondents were also found to be significant, with a particular focus on the ethical evaluation of decisions made by Artificial Intelligence algorithms. The results of the work may be used by banks in practice to adapt the area of personal data management to the requirements of e-privacy and Trustworthy Artificial Intelligence.

Keywords: privacy; personal data processing; Artificial Intelligence; banking ethics; social media (search for similar items in EconPapers)
JEL-codes: A13 G21 O33 (search for similar items in EconPapers)
Date: 2023
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Persistent link: https://EconPapers.repec.org/RePEc:vrs:ecobur:v:9:y:2023:i:1:p:119-141:n:3

DOI: 10.18559/ebr.2023.1.5

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