IDEAS home Printed from https://ideas.repec.org/a/eee/eurman/v39y2021i3p366-375.html
   My bibliography  Save this article

Shaping the digital transformation of the retail banking industry. Empirical evidence from Italy

Author

Listed:
  • Filotto, Umberto
  • Caratelli, Massimo
  • Fornezza, Fabrizio

Abstract

Although numerous studies have investigated the determinants of users’ acceptance of online channels, little attention has been paid to the continuous usage of a direct bank. To address this research gap, we analysed data collected via semi-structured interviews and a survey questionnaire distributed in 2017 to a sample of Italian bank customers. Responses were evaluated using a different statistical methodology based on the Shapley Value regression analysis. In brief, user-friendliness and economic advantages appear to be more decisive at an early stage of adoption. Moreover, structural assurance mechanisms (e.g. clarifying security policies and guarantees) have a robust impact on keeping customers online and loyal to electronic channels. Surprisingly, accessibility and compatibility do not seem to be determinant factors.

Suggested Citation

  • Filotto, Umberto & Caratelli, Massimo & Fornezza, Fabrizio, 2021. "Shaping the digital transformation of the retail banking industry. Empirical evidence from Italy," European Management Journal, Elsevier, vol. 39(3), pages 366-375.
    • Handle: RePEc:eee:eurman:v:39:y:2021:i:3:p:366-375
    DOI: 10.1016/j.emj.2020.08.004
    as

    Download full text from publisher

    File URL: http://www.sciencedirect.com/science/article/pii/S0263237320301249
    Download Restriction: Full text for ScienceDirect subscribers only
    File URL: https://libkey.io/10.1016/j.emj.2020.08.004?utm_source=ideas
    LibKey link: if access is restricted and if your library uses this service, LibKey will redirect you to where you can use your library subscription to access this item
    ---><---

    As the access to this document is restricted, you may want to search for a different version of it.

    References listed on IDEAS

    as
    1. Ksenija Dumičić & Anita Čeh Časni & Irena Palić, 2015. "Multivariate analysis of determinants of Internet banking use in European Union countries," Central European Journal of Operations Research, Springer;Slovak Society for Operations Research;Hungarian Operational Research Society;Czech Society for Operations Research;Österr. Gesellschaft für Operations Research (ÖGOR);Slovenian Society Informatika - Section for Operational Research;Croatian Operational Research Society, vol. 23(3), pages 563-578, September.
    2. Krishnan Dandapani & Edward R. Lawrence & Jodonnis Rodriguez, 2018. "Determinants of Transactional Internet Banking," Journal of Financial Services Research, Springer;Western Finance Association, vol. 54(2), pages 243-267, October.
    3. Stan Lipovetsky & Michael Conklin, 2001. "Analysis of regression in game theory approach," Applied Stochastic Models in Business and Industry, John Wiley & Sons, vol. 17(4), pages 319-330, October.
    4. Anna Canato & Nicoletta Corrocher, 2004. "Information and communication technology: organisational challenges for Italian banks," Accounting History Review, Taylor & Francis Journals, vol. 14(3), pages 355-370.
    5. Mei Xue & Lorin M. Hitt & Pei-yu Chen, 2011. "Determinants and Outcomes of Internet Banking Adoption," Management Science, INFORMS, vol. 57(2), pages 291-307, February.
    6. Durkin, Mark & Jennings, Deirdre & Mulholland, Gwyneth & Worthington, Stephen, 2008. "Key influencers and inhibitors on adoption of the Internet for banking," Journal of Retailing and Consumer Services, Elsevier, vol. 15(5), pages 348-357.
    7. Paul D. Witman & Tamara L. Roust, 2008. "Balances and accounts of online banking users: a study of two US financial institutions," International Journal of Electronic Finance, Inderscience Enterprises Ltd, vol. 2(2), pages 197-210.
    8. Corrocher, Nicoletta, 2006. "Internet adoption in Italian banks: An empirical investigation," Research Policy, Elsevier, vol. 35(4), pages 533-544, May.
    9. Yang Yuan & Fujun Lai & Zhaofang Chu, 2019. "Continuous usage intention of Internet banking: a commitment-trust model," Information Systems and e-Business Management, Springer, vol. 17(1), pages 1-25, March.
    10. Osnat Israeli, 2007. "A Shapley-based decomposition of the R-Square of a linear regression," The Journal of Economic Inequality, Springer;Society for the Study of Economic Inequality, vol. 5(2), pages 199-212, August.
    Full references (including those not matched with items on IDEAS)

    Citations

    Citations are extracted by the CitEc Project, subscribe to its RSS feed for this item.
    as


    Cited by:

    1. Wongsansukcharoen, Jedsada, 2022. "Effect of community relationship management, relationship marketing orientation, customer engagement, and brand trust on brand loyalty: The case of a commercial bank in Thailand," Journal of Retailing and Consumer Services, Elsevier, vol. 64(C).
    2. Shaibu, Abdul-Fatawu & Shaibu, Mohammed Hardi, 2022. "Agricultural Aid and Growth in Sub Saharan Africa: a Review of Empirical Evidence," AGRIS on-line Papers in Economics and Informatics, Czech University of Life Sciences Prague, Faculty of Economics and Management, vol. 14(2), June.
    3. Ander, Veronika & Cihelka, Petr & Tyrychtr, Jan & Novák, David, 2022. "Towards Compromise User Experience Design in Ambient Intelligent Environment," AGRIS on-line Papers in Economics and Informatics, Czech University of Life Sciences Prague, Faculty of Economics and Management, vol. 14(2), June.
    4. Johnson, Donavon, 2024. "Food security, the agriculture value chain, and digital transformation: The case of Jamaica's agricultural business information system (ABIS)," Technology in Society, Elsevier, vol. 77(C).
    5. Siti Norbaya Mohd Rashid & Shereen Noranee & Azlin Zanariah Bahtar, 2023. "Digital Banking Adoption Intention Model in Malaysia: A Pilot Study," Information Management and Business Review, AMH International, vol. 15(3), pages 244-250.
    6. Dóra Szili & Tibor Guzsvinecz & Judit Szűcs, 2022. "How Banks Were Chosen and Rated in Hungary before and during the COVID-19 Pandemic," Sustainability, MDPI, vol. 14(11), pages 1-16, May.
    7. Palkovič, Jozef & Matejková, Eva & Richterová, Eva, 2022. "Agricultural Cooperatives and Their Impact on Economic Performance of Farms in Slovakia," AGRIS on-line Papers in Economics and Informatics, Czech University of Life Sciences Prague, Faculty of Economics and Management, vol. 14(2), June.
    8. Filipovska Olivija, 2023. "General Aspects of Bank Strategy on the Digital Transformation in North Macedonia," Zagreb International Review of Economics and Business, Sciendo, vol. 26(2), pages 203-214.
    9. Fertő, Imre & Bojnec, Štefan & Podruzsik, Szilárd, 2022. "Do Subsidies Decrease the Farm Income Inequality in Hungary?," AGRIS on-line Papers in Economics and Informatics, Czech University of Life Sciences Prague, Faculty of Economics and Management, vol. 14(2), June.
    10. Maniriho, Aristide & Musabanganji, Edouard & Mulumeoderhwa, Fidèle & Manirakiza, Dismas & Lebailly, Philippe, 2022. "Preferences of Small-Scale Farmers for Innovative Farming Techniques in Volcanic Highlands in Rwanda," AGRIS on-line Papers in Economics and Informatics, Czech University of Life Sciences Prague, Faculty of Economics and Management, vol. 14(2), June.
    11. Pinto, Marcelo Rezende & Salume, Paula Karina & Barbosa, Marcelo Werneck & de Sousa, Paulo Renato, 2023. "The path to digital maturity: A cluster analysis of the retail industry in an emerging economy," Technology in Society, Elsevier, vol. 72(C).
    12. Tran, Lam Quynh Trang & Phan, Dai Thich & Herdon, Miklos & Kovacs, Levente, 2022. "Assessing the Digital Transformation in Two Banks: Case Study in Hungary," AGRIS on-line Papers in Economics and Informatics, Czech University of Life Sciences Prague, Faculty of Economics and Management, vol. 14(2), June.
    13. Giang-Do Nguyen & Thu-Hien Thi Dao, 2024. "Factors influencing continuance intention to use mobile banking: an extended expectation-confirmation model with moderating role of trust," Palgrave Communications, Palgrave Macmillan, vol. 11(1), pages 1-14, December.
    14. Liu, Chenyue & Rumánková, Lenka, 2022. "Are There the Impacts of Environmental Regulations on Manufacturing Export? Empirical Evidence from Chinese Manufacturing," AGRIS on-line Papers in Economics and Informatics, Czech University of Life Sciences Prague, Faculty of Economics and Management, vol. 14(2), June.
    15. Błażejczyk-Majka, Lucyna, 2022. "CAP After 2004: Policy to Promote Development or to Elimination Differences Between Regions? Non-parametric Approach Based on Farm Efficiency in the Old and New EU Regions," AGRIS on-line Papers in Economics and Informatics, Czech University of Life Sciences Prague, Faculty of Economics and Management, vol. 14(2), June.
    16. Bareith, Tibor & Csonka, Arnold, 2022. "Dynamics of Competition in the Hungarian Poultry Industry," AGRIS on-line Papers in Economics and Informatics, Czech University of Life Sciences Prague, Faculty of Economics and Management, vol. 14(2), June.
    17. Sodamin, Dino & Vaněk, Jiří & Ulman, Miloš & Šimek, Pavel, 2022. "Fair Label versus Blockchain Technology from the Consumer Perspective: Towards a Comprehensive Research Agenda," AGRIS on-line Papers in Economics and Informatics, Czech University of Life Sciences Prague, Faculty of Economics and Management, vol. 14(2), June.

    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. Xingwei Hu, 2020. "A theory of dichotomous valuation with applications to variable selection," Econometric Reviews, Taylor & Francis Journals, vol. 39(10), pages 1075-1099, November.
    2. Xingwei Hu, 2018. "A Theory of Dichotomous Valuation with Applications to Variable Selection," Papers 1808.00131, arXiv.org, revised Mar 2020.
    3. Santiago Carbó‐Valverde & Pedro J. Cuadros‐Solas & Francisco Rodríguez‐Fernández & José Juan Sánchez‐Béjar, 2024. "Digital innovation and de‐branching in the banking industry: Customer perception and satisfaction," Global Policy, London School of Economics and Political Science, vol. 15(S1), pages 8-20, March.
    4. Zagalaz Jiménez, José Ramón & Aguiar Díaz, Inmaculada, 2019. "Educational level and Internet banking," Journal of Behavioral and Experimental Finance, Elsevier, vol. 22(C), pages 31-40.
    5. David Pérez-Mesa & à ngel S. Marrero, 2024. "Adult health and inequality of opportunity in Spain," Working Papers 671, ECINEQ, Society for the Study of Economic Inequality.
    6. L'Roe, Jessica & Detoeuf, Diane & Wieland, Michelle & Ikati, Bernard & Enduyi Kimuha, Moïse & Sandrin, François & Angauko Sukari, Odette & Nzale Nkumu, Junior & Kretser, Heidi E. & Wilkie, David, 2023. "Large-scale monitoring in the DRC’s Ituri forest with a locally informed multidimensional well-being index," World Development, Elsevier, vol. 169(C).
    7. Gregorio Gimenez & Ana Isabel Gil-Lacruz & Marta Gil-Lacruz, 2021. "Is Happiness Linked to Subjective Life Expectancy? A Study of Chilean Senior Citizens," Mathematics, MDPI, vol. 9(17), pages 1-12, August.
    8. Dan Givoly & Yifan Li & Ben Lourie & Alexander Nekrasov, 2019. "Key performance indicators as supplements to earnings: Incremental informativeness, demand factors, measurement issues, and properties of their forecasts," Review of Accounting Studies, Springer, vol. 24(4), pages 1147-1183, December.
    9. Karen Ruckman & Nilesh Saraf & Vallabh Sambamurthy, 2015. "Market Positioning by IT Service Vendors Through Imitation," Information Systems Research, INFORMS, vol. 26(1), pages 100-126, March.
    10. Pera, Rebecca & Viglia, Giampaolo & Furlan, Roberto, 2016. "Who Am I? How Compelling Self-storytelling Builds Digital Personal Reputation," Journal of Interactive Marketing, Elsevier, vol. 35(C), pages 44-55.
    11. Pérez-Mesa, David & Marrero, Gustavo A. & Darias-Curvo, Sara, 2021. "Child health inequality in Sub-Saharan Africa," MPRA Paper 108801, University Library of Munich, Germany.
    12. Xuechao Sui & Xianhui Geng, 2021. "Continuous usage intention to e-transaction cards in wholesale markets of agriproducts: empirical evidence from China," Future Business Journal, Springer, vol. 7(1), pages 1-13, December.
    13. Nikolova, Milena, 2016. "Minding the happiness gap: Political institutions and perceived quality of life in transition," European Journal of Political Economy, Elsevier, vol. 45(S), pages 129-148.
    14. Hu'e Sullivan & Hurlin Christophe & P'erignon Christophe & Saurin S'ebastien, 2022. "Measuring the Driving Forces of Predictive Performance: Application to Credit Scoring," Papers 2212.05866, arXiv.org, revised Jun 2023.
    15. Naaman, Christine & Magnan, Michel & Hammami, Ahmad & Yao, Li, 2021. "Credit unions vs. commercial banks, who takes more risk?," Research in International Business and Finance, Elsevier, vol. 55(C).
    16. Andrej Kastrin & Janez Povh & Lidija Zadnik Stirn & Janez Žerovnik, 2021. "Methodologies and applications for resilient global development from the aspect of SDI-SOR special issues of CJOR," Central European Journal of Operations Research, Springer;Slovak Society for Operations Research;Hungarian Operational Research Society;Czech Society for Operations Research;Österr. Gesellschaft für Operations Research (ÖGOR);Slovenian Society Informatika - Section for Operational Research;Croatian Operational Research Society, vol. 29(3), pages 773-790, September.
    17. Stan Lipovetsky, 2021. "Predictor Analysis in Group Decision Making," Stats, MDPI, vol. 4(1), pages 1-14, February.
    18. Hugh Chen & Scott M. Lundberg & Su-In Lee, 2022. "Explaining a series of models by propagating Shapley values," Nature Communications, Nature, vol. 13(1), pages 1-15, December.
    19. Emrah Arbak, 2017. "Identifying the provisioning policies of Belgian banks," Working Paper Research 326, National Bank of Belgium.
    20. van der Plaat, Mark, 2020. "Loan sales and the tyranny of tistance in U.S. residential mortgage lending," MPRA Paper 107519, University Library of Munich, Germany, revised 20 Apr 2021.

    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:eee:eurman:v:39:y:2021:i:3:p:366-375. 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: Catherine Liu (email available below). General contact details of provider: http://www.elsevier.com/wps/find/journaldescription.cws_home/115/description#description .

    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.