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Alternative Banking Channels in the Greek Banking Sector

Author

Listed:
  • Panagiotis Kostopoulos
  • Christos Tzovas
  • Constantinos Chalevas
  • Nicos Sykianakis

Abstract

Purpose: This study examines the alternative banking channels employed in Greek banking sector. It investigates customers’ perceptions regarding the advantages and the drawbacks of the existing alternative banking channels. Furthermore, it investigates the effect that the coronavirus pandemic had on the public’s inclination to use alternative banking channels. Design/Methodology/Approach: A questionnaire survey was conducted and a sample of 241 questionnaires was analyzed. In addition, the financial statements of the major Greek banks for the period 2014-2021. Findings: Findings affirmed the predominant role of alternative banking channels compared to traditional forms of banking. Most respondents were satisfied with them and uses them for a wide variety of everyday transactions. Practical implications: It seems that coronavirus pandemic has played a significant role in enhancing the acceptance and penetration of alternative banking channels in Greece. In addition, the extensive use of alternative banking channels appears to have reduced the banks’ operating expenses by lowering banks’ personnel expenses, while operating revenues per employee have increased. Originality/Value: This study contributes to the existing literature on alternative banking channel. Our research has been conducted during the Covid-19 pandemic period and provides evidence testifying that pandemic increased customers’ inclination to use alternative banking channels while affected banks’ business strategies and operations.

Suggested Citation

  • Panagiotis Kostopoulos & Christos Tzovas & Constantinos Chalevas & Nicos Sykianakis, 2022. "Alternative Banking Channels in the Greek Banking Sector," International Journal of Finance, Insurance and Risk Management, International Journal of Finance, Insurance and Risk Management, vol. 12(2), pages 136-168.
  • Handle: RePEc:ers:ijfirm:v:12:y:2022:i:2:p:136-168
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    References listed on IDEAS

    as
    1. Panayiotis C. Andreou & Sofia Anyfantaki, 2019. "Financial literacy and its influence on consumers’ internet banking behaviour," Working Papers 275, Bank of Greece.
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    1. Panagiotis Kostopoulos & Christos Tzovas & Constantinos Chalevas & Nicos Sykianakis, 2022. "Alternative Banking Channels in the Greek Banking Sector," International Journal of Finance, Insurance and Risk Management, International Journal of Finance, Insurance and Risk Management, vol. 12(2), pages 150-182.

    More about this item

    Keywords

    Alternative banking channels; coronavirus pandemic; internet banking; operating profits.;
    All these keywords.

    JEL classification:

    • M41 - Business Administration and Business Economics; Marketing; Accounting; Personnel Economics - - Accounting - - - Accounting
    • M31 - Business Administration and Business Economics; Marketing; Accounting; Personnel Economics - - Marketing and Advertising - - - Marketing

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