IDEAS home Printed from https://ideas.repec.org/a/eco/journ3/2024-03-14.html
   My bibliography  Save this article

Communicating Banking Cyber-security Measures, Customer Ethical Concerns, Experience, and Loyalty Intentions: A Developing Economy’s Perspective

Author

Listed:
  • Freddy Marilahimbilu Mgiba

    (Marketing division; School of Business Sciences; University of the Witwatersrand; Johannesburg; South Africa.)

  • Thozama Mxotwa

    (Marketing division; School of Business Sciences; University of the Witwatersrand; Johannesburg; South Africa)

Abstract

AI technology-based banking services development has disrupted the way people participate in banking transactions. It has created easier and faster banking transaction possibilities with the use of electronic gadgets. However, ethical concerns about these applications have also been amplified together with the need for management communication of safety features and protocols for customer information protection, and redress when infringements occur. The study was an attempt to highlight how AI-enabled banking services safety communication affects customers’ ethical concerns and how the concerns shape their banking services value perception, attitude, and loyalty intentions. A conceptual framework based on the generic AI technology, ethical concerns, and loyalty intentions was used as a basis for this study. It attempted to test the link between management communication, ethical concerns, satisfaction/dissatisfaction, and customer loyalty to AI-based banking services in a developing economy context. The study used three theoretical grounding bases to empirically test the proposed hypotheses. The results analysis followed Structural equation modeling (SEM). The results confirmed the impact of management communication on customers’ ethical concerns of security, privacy, diversity, and discrimination, and the positive influence of privacy and security on satisfaction/dissatisfaction. However, the relationship between diversity and discrimination concerns with customer satisfaction was not confirmed. Lastly, customer satisfaction was proven to impact their loyalty intentions.

Suggested Citation

  • Freddy Marilahimbilu Mgiba & Thozama Mxotwa, 2024. "Communicating Banking Cyber-security Measures, Customer Ethical Concerns, Experience, and Loyalty Intentions: A Developing Economy’s Perspective," International Review of Management and Marketing, Econjournals, vol. 14(3), pages 123-135, May.
    • Handle: RePEc:eco:journ3:2024-03-14
    as

    Download full text from publisher

    File URL: https://www.econjournals.com/index.php/irmm/article/download/16095/7960
    Download Restriction: no
    File URL: https://www.econjournals.com/index.php/irmm/article/view/16095
    Download Restriction: no
    ---><---

    References listed on IDEAS

    as
    1. Murilo Catussi Almeida & Adilson Carlos Yoshikuni & Rajeev Dwivedi & Cláudio Luís Carvalho Larieira, 2022. "Do Leadership Styles Influence Employee Information Systems Security Intention? A Study of the Banking Industry," Global Journal of Flexible Systems Management, Springer;Global Institute of Flexible Systems Management, vol. 23(4), pages 535-550, December.
    2. Abdulazeez Abdulquadri & Emmanuel Mogaji & Tai Anh Kieu & Nguyen Phong Nguyen, 2021. "Digital transformation in financial services provision: a Nigerian perspective to the adoption of chatbot," Journal of Enterprising Communities: People and Places in the Global Economy, Emerald Group Publishing Limited, vol. 15(2), pages 258-281, May.
    3. Song, Christina Soyoung & Kim, Youn-Kyung, 2021. "Predictors of consumers’ willingness to share personal information with fashion sales robots," Journal of Retailing and Consumer Services, Elsevier, vol. 63(C).
    4. Simon Grima & Murat Kizilkaya & Kiran Sood & Mehmet ErdemDelice, 2021. "The Perceived Effectiveness of Blockchain for Digital Operational Risk Resilience in the European Union Insurance Market Sector," JRFM, MDPI, vol. 14(8), pages 1-15, August.
    5. Hair, Joe F. & Howard, Matt C. & Nitzl, Christian, 2020. "Assessing measurement model quality in PLS-SEM using confirmatory composite analysis," Journal of Business Research, Elsevier, vol. 109(C), pages 101-110.
    6. Rodríguez-Priego, Nuria & Porcu, Lucia & Prados Peña, María Belén & Crespo Almendros, Esmeralda, 2023. "Perceived customer care and privacy protection behavior: The mediating role of trust in self-disclosure," Journal of Retailing and Consumer Services, Elsevier, vol. 72(C).
    7. Guangxu Wang & Daniel Tse & Yuanshuo Cui & Hantao Jiang, 2022. "An Exploratory Study on Sustaining Cyber Security Protection through SETA Implementation," Sustainability, MDPI, vol. 14(14), pages 1-13, July.
    8. Dhruba Kumar Gautam & Gunja Kumari Sah, 2023. "Online Banking Service Practices and Its Impact on E-Customer Satisfaction and E-Customer Loyalty in Developing Country of South Asia-Nepal," SAGE Open, , vol. 13(3), pages 21582440231, July.
    9. Gokhan Aydin, 2022. "Mobile Multi-Brand Loyalty Programs: Elaborating Customer Value and Satisfaction," International Journal of E-Business Research (IJEBR), IGI Global, vol. 18(1), pages 1-25, January.
    10. Wilbert Manyanga & Charles Makanyeza & Zororo Muranda, 2022. "The effect of customer experience, customer satisfaction and word of mouth intention on customer loyalty: The moderating role of consumer demographics," Cogent Business & Management, Taylor & Francis Journals, vol. 9(1), pages 2082015-208, December.
    11. Baljinder Kaur & Sood Kiran & Simon Grima & Ramona Rupeika-Apoga, 2021. "Digital Banking in Northern India: The Risks on Customer Satisfaction," Risks, MDPI, vol. 9(11), pages 1-18, November.
    12. Farzana Riva & Solon Magrizos & Mohammad Rabiul Basher Rubel & Ioannis Rizomyliotis, 2022. "Green consumerism, green perceived value, and restaurant revisit intention: Millennials' sustainable consumption with moderating effect of green perceived quality," Business Strategy and the Environment, Wiley Blackwell, vol. 31(7), pages 2807-2819, November.
    13. Rongteng (Renata) Zhang & Azmawani Abd Rahman, 2022. "Dive in the flow experience: millennials’ tech-savvy, satisfaction and loyalty in the smart museum," Current Issues in Tourism, Taylor & Francis Journals, vol. 25(22), pages 3694-3708, November.
    14. Rodríguez-Espíndola, Oscar & Chowdhury, Soumyadeb & Dey, Prasanta Kumar & Albores, Pavel & Emrouznejad, Ali, 2022. "Analysis of the adoption of emergent technologies for risk management in the era of digital manufacturing," Technological Forecasting and Social Change, Elsevier, vol. 178(C).
    15. Prateek Kalia & Dušan Mladenović & à ngel Acevedo-Duque, 2022. "Decoding the Trends and the Emerging Research Directions of Digital Tourism in the Last Three Decades: A Bibliometric Analysis," SAGE Open, , vol. 12(4), pages 21582440221, October.
    16. James Lappeman & Siddeeqah Marlie & Tamryn Johnson & Sloane Poggenpoel, 2023. "Trust and digital privacy: willingness to disclose personal information to banking chatbot services," Journal of Financial Services Marketing, Palgrave Macmillan, vol. 28(2), pages 337-357, June.
    17. Calder, Bobby J. & He, Sharlene & Sternthal, Brian, 2023. "Using theoretical frameworks in behavioral research," Journal of Business Research, Elsevier, vol. 161(C).
    18. Abu Elnasr E. Sobaih & Ahmed Hasanein & Ibrahim A. Elshaer, 2022. "Higher Education in and after COVID-19: The Impact of Using Social Network Applications for E-Learning on Students’ Academic Performance," Sustainability, MDPI, vol. 14(9), pages 1-12, April.
    19. Mallinder, Jason & Drabwell, Peter, 2014. "Cyber security: A critical examination of information sharing versus data sensitivity issues for organisations at risk of cyber attack," Journal of Business Continuity & Emergency Planning, Henry Stewart Publications, vol. 7(2), pages 103-111, January.
    20. Abu Elnasr E. Sobaih & Ibrahim A. Elshaer, 2022. "Personal Traits and Digital Entrepreneurship: A Mediation Model Using SmartPLS Data Analysis," Mathematics, MDPI, vol. 10(21), pages 1-19, October.
    21. Anum Khan & Muhammad Shujaat Mubarik & Navaz Naghavi, 2023. "What matters for financial inclusions? Evidence from emerging economy," International Journal of Finance & Economics, John Wiley & Sons, Ltd., vol. 28(1), pages 821-838, January.
    22. Quach, Sara & Barari, Mojtaba & Moudrý, Dann Vit & Quach, Ken, 2022. "Service integration in omnichannel retailing and its impact on customer experience," Journal of Retailing and Consumer Services, Elsevier, vol. 65(C).
    23. Saqib Amin & Iftikhar Yasin & Anna Rutkowska-Ziarko, 2023. "Diversity-inclusion nexus: assessing the role of ethnic and religious diversity in financial inclusion; a global perspective," Economic Research-Ekonomska Istraživanja, Taylor & Francis Journals, vol. 36(1), pages 1205-1225, March.
    24. Murinde, Victor & Rizopoulos, Efthymios & Zachariadis, Markos, 2022. "The impact of the FinTech revolution on the future of banking: Opportunities and risks," International Review of Financial Analysis, Elsevier, vol. 81(C).
    25. Wu, Bao & Liu, Zijia & Gu, Qiuyang & Tsai, Fu-Sheng, 2023. "Underdog mentality, identity discrimination and access to peer-to-peer lending market: Exploring effects of digital authentication," Journal of International Financial Markets, Institutions and Money, Elsevier, vol. 83(C).
    26. Sara Quach & Park Thaichon & Kelly D. Martin & Scott Weaven & Robert W. Palmatier, 2022. "Digital technologies: tensions in privacy and data," Journal of the Academy of Marketing Science, Springer, vol. 50(6), pages 1299-1323, November.
    Full references (including those not matched with items on IDEAS)

    Most related items

    These are the items that most often cite the same works as this one and are cited by the same works as this one.
    1. Swaraj S. Bharti & Kanika Prasad & Shwati Sudha & Vineeta Kumari, 2023. "Customer acceptability towards AI-enabled digital banking: a PLS-SEM approach," Journal of Financial Services Marketing, Palgrave Macmillan, vol. 28(4), pages 779-793, December.
    2. Hazem Ahmed Khairy & Yehia Elzek & Nadir Aliane & Mohamed Fathy Agina, 2023. "Perceived Environmental Corporate Social Responsibility Effect on Green Perceived Value and Green Attitude in Hospitality and Tourism Industry: The Mediating Role of Environmental Well-Being," Sustainability, MDPI, vol. 15(6), pages 1-17, March.
    3. Urbonavicius, Sigitas, 2023. "Relative power of online buyers in regard to a store: How it encourages them to disclose their personal data?," Journal of Retailing and Consumer Services, Elsevier, vol. 75(C).
    4. Nalluri, Venkateswarlu & Chen, Long-Sheng, 2024. "Modelling the FinTech adoption barriers in the context of emerging economies—An integrated Fuzzy hybrid approach," Technological Forecasting and Social Change, Elsevier, vol. 199(C).
    5. Zhang, Zhiyun & Zhang, Ziqiong & Liu, Sen & Zhang, Zili, 2024. "Are high-status reviewers more likely to seek anonymity? Evidence from an online review platform," Journal of Retailing and Consumer Services, Elsevier, vol. 78(C).
    6. Yogesh Upadhyay & Ruturaj Baber & Justin Paul & Prerana Baber & Lisa Cain, 2024. "Beyond the first bite: understanding how online experience shapes user loyalty in the mobile food app market," Electronic Commerce Research, Springer, vol. 24(2), pages 799-823, June.
    7. Mai Mostafa Awad & Abd‘Elazez Hashem & Hend Mohamed Naguib, 2022. "The Impact of Lean Management Practices on Economic Sustainability in Services Sector," Sustainability, MDPI, vol. 14(15), pages 1-27, July.
    8. Hayford Asare Obeng & Richard Arhinful & Leviticus Mensah & Jerry Seth Owusu-Sarfo, 2024. "Assessing the Influence of the Knowledge Management Cycle on Job Satisfaction and Organizational Culture Considering the Interplay of Employee Engagement," Sustainability, MDPI, vol. 16(20), pages 1-28, October.
    9. Kara, Karahan & Yalçın, Galip Cihan & Akagün Ergin, Elif & Simic, Vladimir & Pamucar, Dragan, 2024. "A neutrosophic WENSLO-ARLON model for measuring sustainable brand equity performance," Socio-Economic Planning Sciences, Elsevier, vol. 94(C).
    10. Alhamzah Alnoor & Khai Wah Khaw & XinYing Chew & Sammar Abbas & Zeeshan Zaib Khattak, 2023. "The Influence of the Barriers of Hybrid Strategy on Strategic Competitive Priorities: Evidence from Oil Companies," Global Journal of Flexible Systems Management, Springer;Global Institute of Flexible Systems Management, vol. 24(2), pages 179-198, June.
    11. Morais, Ana Catarina & Ishida, Akira & Matsuda, Ruriko, 2024. "Ethical food consumption drivers in Japan. A S–O-R framework application using PLS-SEM with a MGA assessment based on clustering," Journal of Retailing and Consumer Services, Elsevier, vol. 76(C).
    12. Kautish, Pradeep & Paço, Arminda & Thaichon, Park, 2022. "Sustainable consumption and plastic packaging: Relationships among product involvement, perceived marketplace influence and choice behavior," Journal of Retailing and Consumer Services, Elsevier, vol. 67(C).
    13. Zhikun Ding & Xinyue Huang & Xinrui Wang & Qiaohui Chen & Jiasheng Zhang & Zezhou Wu, 2024. "Investigating the Determinants of Construction Stakeholders’ Intention to Use Construction and Demolition Waste Recycling Products Based on the S-O-R Model in China," Sustainability, MDPI, vol. 16(6), pages 1-17, March.
    14. Sangryeong Lee & Soo-Kyoung Lee & Jin-Woo Park, 2024. "The Effect of Service Quality and Sustainability Practices on Brand Equity: The Case of Korean Air Passengers," Sustainability, MDPI, vol. 16(11), pages 1-20, May.
    15. Henda Omri & Anis Omri & Abdessalem Abbassi, 2024. "Macro-level determinants of entrepreneurial behavior and motivation," International Entrepreneurship and Management Journal, Springer, vol. 20(4), pages 2629-2667, December.
    16. Tarcia Camily Cavalcante Quezado & Nuno Fortes & William Quezado Figueiredo Cavalcante, 2022. "The Influence of Corporate Social Responsibility and Business Ethics on Brand Fidelity: The Importance of Brand Love and Brand Attitude," Sustainability, MDPI, vol. 14(5), pages 1-20, March.
    17. Wang, Yi-Ran & Ma, Chao-Qun & Ren, Yi-Shuai, 2022. "A model for CBDC audits based on blockchain technology: Learning from the DCEP," Research in International Business and Finance, Elsevier, vol. 63(C).
    18. Sun, Xiaoyan & Xie, Xuanli, 2024. "How does digital finance promote entrepreneurship? The roles of traditional financial institutions and BigTech firms," Pacific-Basin Finance Journal, Elsevier, vol. 85(C).
    19. Galeone, Graziana & Ranaldo, Simona & Fusco, Antonio, 2024. "ESG and FinTech: Are they connected?," Research in International Business and Finance, Elsevier, vol. 69(C).
    20. Talwar, Shalini & Kaur, Puneet & Escobar, Octavio & Lan, Sai, 2022. "Virtual reality tourism to satisfy wanderlust without wandering: An unconventional innovation to promote sustainability," Journal of Business Research, Elsevier, vol. 152(C), pages 128-143.

    More about this item

    Keywords

    Cyber-security; Communication; Ethical Concerns; Customer Satisfaction; Loyalty;
    All these keywords.

    JEL classification:

    • M31 - Business Administration and Business Economics; Marketing; Accounting; Personnel Economics - - Marketing and Advertising - - - Marketing
    • M37 - Business Administration and Business Economics; Marketing; Accounting; Personnel Economics - - Marketing and Advertising - - - Advertising
    • O35 - Economic Development, Innovation, Technological Change, and Growth - - Innovation; Research and Development; Technological Change; Intellectual Property Rights - - - Social Innovation

    Statistics

    Access and download statistics

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:eco:journ3:2024-03-14. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    If CitEc recognized a bibliographic reference but did not link an item in RePEc to it, you can help with this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Ilhan Ozturk (email available below). General contact details of provider: http://www.econjournals.com .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.