Adopting Digital Signatures for Complex Financial Products in the French Banking Sector: How Technology Acceptance and User Literacy Matter

Molka Abbes, Anne Julien, Shuyi Hao () and Mourad Touzani
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Molka Abbes: NEOMA - Neoma Business School
Anne Julien: NEOMA - Neoma Business School
Shuyi Hao: ICN Business School, CEREFIGE - Centre Européen de Recherche en Economie Financière et Gestion des Entreprises - UL - Université de Lorraine
Mourad Touzani: NEOMA - Neoma Business School

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Abstract: The advent of digital banking has transformed the financial landscape. However, the uptake of complex financial products (CFPs) with digital signatures (DSs) in European banks remains unexplored and warrants in-depth investigation. In this article, we address the gap by examining the online acquisition of CFPs, focusing on factors beyond the conventional parameters. By integrating the technology acceptance model (TAM), user literacy, and the dimension of human interaction, we analyze client acceptance of DSs in CFP transactions. We present an analysis of qualitative data from 716 clients of a French bank. Our findings reveal that DS adoption for CFPs hinges on TAM variables, combined with perceived risk, trust, and the levels of digital and financial literacy, along with the aspect of human interaction. We propose a novel risk management approach that blends the traditional risk management with client–bank coproduction, advocating for a collaborative model of risk sharing facilitated by DSs. Our article details the theoretical framework, methodology, findings, and discussions and concludes by offering theoretical insights, managerial recommendations, limitations, and avenues for future research.

Keywords: Banking; Digital signatures; Business; Behavioral sciences; Security; Europe; Technological innovation; Complex financial products (CFPs); digital banking (DB); digital signature (DS); human interaction; literacy; technology acceptance model (TAM) (search for similar items in EconPapers)
Date: 2024
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Published in IEEE Transactions on Engineering Management, 2024, pp.1-11. ⟨10.1109/TEM.2024.3359707⟩

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Persistent link: https://EconPapers.repec.org/RePEc:hal:journl:hal-04504165

DOI: 10.1109/TEM.2024.3359707

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