Customer Brand Engagement through Chatbots on Bank Websites– Examining the Antecedents and Consequences

Hari, Harinder; Iyer, Radha; Sampat, Brinda

doi:10.1080/10447318.2021.1988487

Cited by 43 publications

(14 citation statements)

References 109 publications

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“…Chatbots constitute one of the major applications of AI for customer services in the financial services industry, generally being deployed for customer service management and the provision of advisory services (Hari et al, 2021). The use of chatbots in financial services constitutes the aspect of self-service technology adoption, which aims to increase the interaction between the consumer and the technology without necessarily involving the service providers (Jang et al, 2021).…”

Section: The Application Of Artificial Intelligence For Customer Enga...mentioning

confidence: 99%

Managers' understanding of artificial intelligence in relation to marketing financial services: insights from a cross-country study

Mogaji

Nguyen

2021

IJBM

102

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PurposeGiven that managers play a crucial role in developing and deploying AI for marketing financial services, this study was aimed at better understanding their awareness regarding AI and the challenges they are facing in providing the attendant technologies, as well as highlighting key stakeholders and their collaborative efforts in providing financial services.Design/methodology/approachExploratory, inductive research design. The data was gathered through semi-structured interviews with 47 bank managers in both developed and developing countries, including the United Kingdom, Canada, Nigeria and Vietnam.FindingsManagers are aware of the prospects of AI and are making efforts to address AI as a business need but find that there often exist certain challenges in accelerating AI adoption. The study also presents a conceptual framework of AI in relation to financial service marketing, which captures and highlights the interactions among the customers, banks and external stakeholders, as well as the regulators.Research limitations/implicationsBanks must understand their business objectives, the available resources and the needs of their customers. Managers should keep the ethical implications of their working relationships in mind when selecting a team or collaborating with partners. In addition, managers should be trained and assisted in comprehending AI in relation to financial services, while the regulators must be involved in the development of AI for financial service marketing. Finally, it is critical to communicate the prospects for AI to consumers.Originality/valueThis study provides empirical insight into the opportunities, prospects and challenges pertaining to the use of AI in the area of financial service marketing. It also specifically calls into question certain preconceptions regarding AI and its role in financial services, the chatbots adopted for financial service delivery and the role of marketing managers in developing AI.

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Section: The Application Of Artificial Intelligence For Customer Enga...mentioning

confidence: 99%

Managers' understanding of artificial intelligence in relation to marketing financial services: insights from a cross-country study

Mogaji

Nguyen

2021

IJBM

102

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“…We collected the responses to the items on a five-point Likert scale, with anchors ranging from 5 (strongly disagree) to 1(strongly agree). Most cross-sectional studies have used this method to ensure response variability (Hari et al. , 2022).…”

Section: Methodsmentioning

confidence: 99%

An empirical analysis of facilitators and barriers to the hybrid work model: a cross-cultural and multi-theoretical approach

Sampat

Raj

Behl

et al. 2022

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PurposeThis paper examines the influence of facilitators and barriers on employees’ preference to work in a hybrid model. The study uses the theoretical lens of stimulus-organism-response (SOR) and dual factor theory (DFT). It examines the influence of health consciousness (stimulus), facilitators (e.g. work flexibility, work–life balance and team building) (organism) and barriers (e.g. pandemic and travel stressor and role overload [organism] on employees’ preference to work in a hybrid model) (response). Further, it tests the moderating influence of organizational culture.Design/methodology/approachA questionnaire survey was conducted among employees in India, Sri Lanka and Germany, obtaining 281 usable questionnaires. Structural equation modeling (SEM) using Warp PLS 7.0 was used as the analytical technique to examine the model fit and test hypotheses.FindingsThe findings reveal that health consciousness is essential in enhancing facilitators and motivating employees to prefer a hybrid working model. The study’s findings also prove the positive influence of work flexibility, work–life balance and team building as facilitators. The results suggest that pandemic and travel stressors inhibit employees’ preference for working in a hybrid model.Research limitations/implicationsThe study is based on a cross-sectional research design to generalise the findings. Future researchers can utilize longitudinal design to decipher the variation in response over time. The study has developed a model combining SOR with DFT; the authors suggest that future researchers use other theories in combination with SOR, like self-determination theory (SDT), to decipher the influence of intrinsic and extrinsic motivation of employees in the context of the hybrid working model.Practical implicationsThis study identifies the need for open communication with the employees to overcome their concerns regarding the hybrid working model. The study also suggests that human resource (HR) managers need to prioritize the task that needs to be accomplished from the office versus working from home. The authors recommend various measures, like water cooler breaks and a buddy system, to motivate employees to work in a hybrid model.Originality/valueThis study is among the first studies focused on the hybrid working model. The current study adds to the limited literature on the facilitators and barriers of working in a hybrid work model.

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“…with FinTech managers, we build on previous studies that have focused on the bright side of FinTech (Chawla and Joshi, 2019;Cheng and Qu, 2020;Lee and Pan, 2023;Shaw and Kesharwani, 2019). Furthermore, we provide theoretical insights from managers, extending established knowledge from the customers' perspective (Hari et al, 2021;Muthukannan et al, 2021;Trivedi, 2019) and importantly move away from the WEIRD societies to showcase how developing countries are managing FinTech digital transformation.…”

Section: Dark Side Of Fintech In Financial Servicesmentioning

confidence: 99%

“…professional experts who play an integral role in designing, commercially implementing and regulating digital transformations in financial organisations), which this study aims to address. Second, previous studies have explored the dark side of FinTech from the consumer perspective (Hari et al, 2021;Muthukannan et al, 2021;Trivedi, 2019); however, the adverse effects of FinTech adoption from the developers' standpoint remain unexplored, which scholars have urged researchers to examine (Cai et al, 2022). Third, previous studies on FinTech have often focused on the experiences from the perspective of the technology-driven and market-driven western, educated, industrialised, religious and democratic (WEIRD) societies (Nguyen and Mogaji, 2022a), while this study Dark side of FinTech in financial services helps in comprehending how developing countries deal with and manage digitalisation in their financial services provision.…”

Section: Introductionmentioning

confidence: 99%

The dark side of FinTech in financial services: a qualitative enquiry into FinTech developers’ perspective

Sampat

Mogaji

Nguyen

2023

IJBM

Self Cite

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Purpose FinTech offers numerous prospects for significant enhancements and fundamental changes in financial services. However, along with the myriad of benefits, it also has the potential to induce risks to individuals, organisations and society. This study focuses on understanding FinTech developers’ perspective of the dark side of FinTech.Design/methodology/approach This study conducted semi-structured interviews with 23 Nigerian FinTech developers using an exploratory, inductive methodology The data were transcribed and then thematically analysed using NVivo.Findings Three themes – customer vulnerability, technical inability and regulatory irresponsibility – arose from the thematic analysis. The poor existing technological infrastructure, data management challenges, limited access to data and smartphone adoption pose challenges to a speedy integration of FinTech in the country, making customers vulnerable. The lack of privacy control leads to ethical issues. The lack of skilled developers and the brain drain of good developers present additional obstacles to the development of FinTech in Nigeria.Research limitations/implications FinTech operation in a developing country differs from that in developed countries with better technological infrastructure and institutional acceptance. This study recognises that basic banking operations through FinTech are still not well adopted, necessitating the need to be more open-minded about the global practicalities of FinTech.Practical implications FinTech managers, banks and policymakers can ethically collect consumer data that can help influence customer credit decisions, product development and recommendations using the mobile app and transaction history. There should be strict penalties on FinTech for selling customers’ data, sending unsolicited messages or gaining unnecessary access to the customer’s contact list. FinTech can offer to educate consumers about their financial management skills.Originality/valueWhereas other studies have focused on the positive aspects of FinTech to understand client perceptions, this study offers new insights into the dark side of FinTech by analysing the viewpoints of FinTech developers. Furthermore, the study is based in Nigeria, an emerging economy adopting FinTech, adding a new dimension to the body of knowledge.

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Customer Brand Engagement through Chatbots on Bank Websites– Examining the Antecedents and Consequences

Cited by 43 publications

References 109 publications

Managers' understanding of artificial intelligence in relation to marketing financial services: insights from a cross-country study

Managers' understanding of artificial intelligence in relation to marketing financial services: insights from a cross-country study

An empirical analysis of facilitators and barriers to the hybrid work model: a cross-cultural and multi-theoretical approach

The dark side of FinTech in financial services: a qualitative enquiry into FinTech developers’ perspective

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