Digital Transformation in Banking: Exploring Value Co-Creation in Online Banking Services in India

Malar, Dhanalakshmi Arumugam; Arvidsson, Viktor; Holmström, Jonny

doi:10.1080/1097198x.2019.1567216

Cited by 33 publications

(27 citation statements)

References 43 publications

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“…The banking industry is a leader in providing consumers with opportunities to access products and services through advanced technology ( Malar et al, 2019 ). The development of ICT has allowed banks to have a relationship with customers, shifting away from physical interaction with a bank branch to interactive and virtual environments ( Martovoy and Santos, 2012 ).…”

Section: Conceptual Frameworkmentioning

confidence: 99%

e-Banking Adoption: An Opportunity for Customer Value Co-creation

et al. 2021

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The development of information and communication technologies offers innovative opportunities to establish business strategies focused on customer value co-creation. This situation is especially notable in the banking industry. e-Banking activities can support competitive advantages. However, the adoption of e-banking is not yet well-established among consumers. In this sense, the technology acceptance model (TAM) is considered essential in studying consumer behavior applied to adopt a particular technology. According to the TAM model, this study analyses the factors which influence bank customers to adopt e-banking to facilitate their banking services and support the process of value co-creation. Consequently, the authors examine five main aspects of the technology adoption model to provide a broad understanding of bank customers’ consumption of e-banking. A partial least squares structural equation modeling (PLS-SEM) analysis is conducted to evaluate proposed relationships between factors and customers’ e-banking adoption.

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Section: Conceptual Frameworkmentioning

confidence: 99%

e-Banking Adoption: An Opportunity for Customer Value Co-creation

et al. 2021

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“…Similarly, the combination of resources would act as a determinant for whether or not the merchant would provide e-payment services; as would a lack of operant resources, particularly salient for a rural context. In a second study, Malar et al (2019) showed that flexibility, comfortability, effective information and centralising customer network were determinants for value-in-use, a co-creative process; while changing the mobile number, network malfunction, or non-integrated devices can result in an unexpected outcome of VCD. However, their perspective implied that VCC is planned and led by the producer, and that all the dynamics were by design rather than spontaneous – somewhat contradictory to the service ecosystem perspective where multiple actors in different layers would have different interests and integrate resources differently.…”

Section: Literature Reviewmentioning

confidence: 99%

Value co-creation and co-destruction in the first cashless society in Colombia – a middle range theory approach

Klyton

Tavera-Mesias

Castaño-Muñoz

2021

ITP

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PurposeThe research examines the simultaneous processes of value co-creation and value co-destruction in the implementation of a mobile banking application in rural Colombia. Rural communities experience digital and financial deficits and often become the object of technology-based initiatives. In the town, vulnerable female heads of household received a government subsidy through a mobile app, becoming an experimental group for this government–private bank collaboration. In an effort to create the first cashless society in Colombia, the bank engaged the entire town and local government to create a service ecosystem, constituted by operant resources.Design/methodology/approachThis study uses a qualitative, ethnographic approach to investigate the experiences of stakeholders in engaging with a mobile banking app. The empirical data is drawn from 34 interviews, representing different layers of this service ecosystem. The study identified and analysed actor engagement behaviours that occurred in the micro-, meso-, macro- and meta-layers of this ecosystem that shaped the perception and usage of mobile payments and digital money for rural consumers.FindingsThe study found that simultaneous manifestations of the co-creation and co-destruction of value present in different layers ultimately diminished the value proposition for this digital money system. We shed light on how actor engagement transitions across different layers of the ecosystem and that negative interactions in the meta-layer of the ecosystem can affect perceptions of value in the micro-layer.Originality/valueThis study has contributed to the service literature by integrating epistemological cultural theory into value co-creation and co-destruction construct. In doing so, we provide a broader context for understanding how actor engagement can negatively impact on the value creation process and offer a meaningful contribution to the development of midrange theory of the value creation process.

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“…e coming years will bring forward a substantial increase in the use of digital transactions, all ultimately leading to the fulfilment of India's mission of becoming a digitized economy. As more and more advancements are made, 16 Complexity specifically in the digital sphere, our habits have continuously evolved. It is high time for the natives to move forward from sticking to the cash-based commerce format and switch to the digitized payment structure.…”

Section: Discussionmentioning

confidence: 99%

“…At present, nearly every bank has an Internet banking service, and all the payment gateways provide the option of virtual banking options. As specified earlier, NEFT, RTGS, and IMPS are the most commonly exercised ways to transact via online banking [16].…”

Section: Debit Cardmentioning

confidence: 99%

Netizens’ Perspective towards Electronic Money and Its Essence in the Virtual Economy: An Empirical Analysis with Special Reference to Delhi‐NCR, India

Khan

2021

Complexity

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This research attempts to evaluate the ongoing position of the modalities exercised in India concerning digital payments. Largely appraised as a success story in the making, this research examines several instrumental factors in India’s digital payment systems. It further extends to identifying the impact of demographic attributes and constructive variables, such as service quality, reliability, satisfaction, and security on digital payment system, Delhi NCR, India. A Google form questionnaire was adopted to collect data through online mode. The researcher collected the primary data from 165 respondents. Purposive sampling method was exercised, along with CFA technique and parameter test used through SPSS (version 25), reliability issue, validity issue, and model fitness achieve through SPSS-AMOS (version 24). The significant peculiarities and analysis are presented further in this research contributing to a precise depiction of findings and then, based on it, the conclusion.

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Digital Transformation in Banking: Exploring Value Co-Creation in Online Banking Services in India

Cited by 33 publications

References 43 publications

e-Banking Adoption: An Opportunity for Customer Value Co-creation

e-Banking Adoption: An Opportunity for Customer Value Co-creation

Value co-creation and co-destruction in the first cashless society in Colombia – a middle range theory approach

Netizens’ Perspective towards Electronic Money and Its Essence in the Virtual Economy: An Empirical Analysis with Special Reference to Delhi‐NCR, India

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