IDEAS home Printed from https://ideas.repec.org/a/pal/jofsma/v21y2016i1d10.1057_fsm.2016.1.html
   My bibliography  Save this article

Mobile nudging: Youth engagement with banking apps

Author

Listed:
  • Roel Wijland

    (School of Business, University of Otago)

  • Paul Hansen
  • Fatima Gardezi

Abstract

Mobile-banking (m-banking) is of particular interest to banks seeking to sustain their market share because of m-banking’s role attracting and retaining customers, especially young ones. This article reports on a study that applies concepts from behavioural economics (BE) and ‘nudging’ with the objective of promoting young people’s ongoing engagement with m-banking applications (that is, software designed to run on mobile devices, or m-banking ‘apps’ in common parlance). Insights and ideas for new features or refinements for m-banking apps were generated from discussions with a large class of senior marketing students, and then presented to m-banking managers and app designers to refine and to select two features for each of five constructs from BE: loss aversion, power of now, scarcity value, chunking and choice architecture. The relative desirability of these 10 m-banking features was investigated via a survey involving a pairwise-ranking exercise that was completed by 257 young m-banking consumers. Overall, the research reveals that m-banking app design can benefit from fundamentally different approaches (relative to traditional methodologies) that prioritise intuitive interfaces over non-intuitive-based designs, and, in particular, that BE and nudging can supply valuable insights and ideas for new features or refinements.

Suggested Citation

  • Roel Wijland & Paul Hansen & Fatima Gardezi, 2016. "Mobile nudging: Youth engagement with banking apps," Journal of Financial Services Marketing, Palgrave Macmillan, vol. 21(1), pages 51-63, March.
    • Handle: RePEc:pal:jofsma:v:21:y:2016:i:1:d:10.1057_fsm.2016.1
    DOI: 10.1057/fsm.2016.1
    as

    Download full text from publisher

    File URL: http://link.springer.com/10.1057/fsm.2016.1
    File Function: Abstract
    Download Restriction: Access to the full text of the articles in this series is restricted.
    File URL: https://libkey.io/10.1057/fsm.2016.1?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. Altman, Morris, 2012. "Behavioural economics perspectives: Implications for policy and financial literacy," Working Paper Series 2195, Victoria University of Wellington, School of Economics and Finance.
    2. Paul Hansen & Nicole Kergozou & Stephen Knowles & Paul Thorsnes, 2014. "Developing Countries in Need: Which Characteristics Appeal Most to People when Donating Money?," Journal of Development Studies, Taylor & Francis Journals, vol. 50(11), pages 1494-1509, November.
    3. Smith, Kevin F. & Fennessy, Peter F., 2014. "Utilizing Conjoint Analysis to Develop Breeding Objectives for the Improvement of Pasture Species for Contrasting Environments When the Relative Values of Individual Traits Are Difficult to Assess," Sustainable Agriculture Research, Canadian Center of Science and Education, vol. 3(2).
    4. Paul E. Green & Abba M. Krieger & Yoram Wind, 2001. "Thirty Years of Conjoint Analysis: Reflections and Prospects," Interfaces, INFORMS, vol. 31(3_supplem), pages 56-73, June.
    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. Joseph Vella & Åsa Wallström & Mana Farshid, 2017. "Financial services Apps: What makes the difference between a great and a ghastly review?," Journal of Financial Services Marketing, Palgrave Macmillan, vol. 22(3), pages 132-138, September.
    2. Mark McGillivray & Simon Feeny & Paul Hansen & Stephen Knowles & Franz Ombler, 2023. "What are Valid Weights for the Human Development Index? A Discrete Choice Experiment for the United Kingdom," Social Indicators Research: An International and Interdisciplinary Journal for Quality-of-Life Measurement, Springer, vol. 165(2), pages 679-694, January.
    3. Tiina Koskelainen & Panu Kalmi & Eusebio Scornavacca & Tero Vartiainen, 2023. "Financial literacy in the digital age—A research agenda," Journal of Consumer Affairs, Wiley Blackwell, vol. 57(1), pages 507-528, January.

    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. Merja Halme & Kari Linden & Kimmo Kääriä, 2009. "Patients’ Preferences for Generic and Branded Over-the-Counter Medicines," The Patient: Patient-Centered Outcomes Research, Springer;International Academy of Health Preference Research, vol. 2(4), pages 243-255, December.
    2. Marianne Bertrand & Dean S. Karlan & Sendhil Mullainathan & Eldar Shafir & Jonathan Zinman, 2005. "What's Psychology Worth? A Field Experiment in the Consumer Credit Market," Working Papers 918, Economic Growth Center, Yale University.
    3. Norbert Bajkó & Zsolt Fülöp & Kinga Nagyné Pércsi, 2022. "Changes in the Innovation- and Marketing-Habits of Family SMEs in the Foodstuffs Industry, Caused by the Coronavirus Pandemic in Hungary," Sustainability, MDPI, vol. 14(5), pages 1-17, March.
    4. John Liechty & Duncan Fong & Eelko Huizingh & Arnaud Bruyn, 2008. "Hierarchical Bayesian conjoint models incorporating measurement uncertainty," Marketing Letters, Springer, vol. 19(2), pages 141-155, June.
    5. Christian P Theurer & Andranik Tumasjan & Isabell M Welpe, 2018. "Contextual work design and employee innovative work behavior: When does autonomy matter?," PLOS ONE, Public Library of Science, vol. 13(10), pages 1-35, October.
    6. Kick, Markus & Littich, Martina, 2015. "Brand and Reputation as Quality Signals on Regulated Markets," EconStor Preprints 182503, ZBW - Leibniz Information Centre for Economics.
    7. Ragna Nilssen & Geoff Bick & Russell Abratt, 2019. "Comparing the relative importance of sustainability as a consumer purchase criterion of food and clothing in the retail sector," Journal of Brand Management, Palgrave Macmillan, vol. 26(1), pages 71-83, January.
    8. Olivier Toubia & Duncan I. Simester & John R. Hauser & Ely Dahan, 2003. "Fast Polyhedral Adaptive Conjoint Estimation," Marketing Science, INFORMS, vol. 22(3), pages 273-303.
    9. Daniel V. Holland & Dean A. Shepherd, 2013. "Deciding to Persist: Adversity, Values, and Entrepreneurs’ Decision Policies," Entrepreneurship Theory and Practice, , vol. 37(2), pages 331-358, March.
    10. Percy Marquina & Vincent Charles, 2021. "A Bayesian resampling approach to estimate the difference in effect sizes in consumer social responses to CSR initiatives versus corporate abilities," Corporate Social Responsibility and Environmental Management, John Wiley & Sons, vol. 28(6), pages 1680-1699, November.
    11. Ebers, Axel & Thomsen, Stephan L., 2021. "How do warnings affect retail demand for Bitcoin? Evidence from an international survey experiment," Journal of Behavioral and Experimental Finance, Elsevier, vol. 32(C).
    12. Xinfang (Jocelyn) Wang & Jeffrey D. Camm & David J. Curry, 2009. "A Branch-and-Price Approach to the Share-of-Choice Product Line Design Problem," Management Science, INFORMS, vol. 55(10), pages 1718-1728, October.
    13. Mishra, Sanjay & Umesh, U. N., 2005. "Determining the quality of conjoint analysis results using violation of a priori signs," Journal of Business Research, Elsevier, vol. 58(3), pages 301-311, March.
    14. Anne Domurath & Holger Patzelt, 2016. "Entrepreneurs’ Assessments of Early International Entry: The Role of Foreign Social Ties, Venture Absorptive Capacity, and Generalized Trust in Others," Entrepreneurship Theory and Practice, , vol. 40(5), pages 1149-1177, September.
    15. Lynd Bacon & Peter Lenk, 2012. "Augmenting discrete-choice data to identify common preference scales for inter-subject analyses," Quantitative Marketing and Economics (QME), Springer, vol. 10(4), pages 453-474, December.
    16. Sergii Solntsev & Zhanna Zhygalkevych & Maryna Kravchenko, 2020. "Evaluation Of Risk Impact On Implementation Of Innovation Projects Within The Framework Of Machine-Building Quasi-Integration Structures," Baltic Journal of Economic Studies, Publishing house "Baltija Publishing", vol. 6(3).
    17. Melanie Revilla & Carlos Ochoa & Albert Turbina, 2017. "Making use of Internet interactivity to propose a dynamic presentation of web questionnaires," Quality & Quantity: International Journal of Methodology, Springer, vol. 51(3), pages 1321-1336, May.
    18. Ochieng, Dennis O. & Veettil, Prakashan C. & Qaim, Matin, 2017. "Farmers’ preferences for supermarket contracts in Kenya," Food Policy, Elsevier, vol. 68(C), pages 100-111.
    19. Nikou, Shahrokh & Bouwman, Harry, 2012. "Mobile service platform competition," 19th ITS Biennial Conference, Bangkok 2012: Moving Forward with Future Technologies - Opening a Platform for All 72515, International Telecommunications Society (ITS).
    20. R L Keeney & R M Oliver, 2005. "Designing win-win financial loan products for consumers and businesses," Journal of the Operational Research Society, Palgrave Macmillan;The OR Society, vol. 56(9), pages 1030-1040, September.

    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:pal:jofsma:v:21:y:2016:i:1:d:10.1057_fsm.2016.1. 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: Sonal Shukla or Springer Nature Abstracting and Indexing (email available below). General contact details of provider: http://www.palgrave.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.