Dimensions of Mobile-banking in Greece During Covid-19

Abstract

The Covid-19 pandemic reveal the need for structural reforms in various economic sectors including the banking sector. In Greece the banking sector needs to promote structural reforms promoting new products and services or improve existing ones to improve contactless transactions. The purpose of the paper is to explore the determinants (in terms of demographic, personal and behavioral factors) that are affecting the use of mobile banking during the Covid-19 pandemic in Greece. A multiple logistic regression and a structural equation model analysis are employed, in conjunction with confirmatory factor analysis, based on a proposed extended technological acceptance model (TAM). The data derived from a field survey on 617 users and non-users of mobile banking, using an appropriately-constructed questionnaire. The results showed that the demographics as well as the personal and technology acceptance factors contributed significantly to the adoption of this form of online banking in Greece. From the extended TAM model, perceived usefulness, perceived ease of use, perceived risk, hedonic motivation and social influence were found to have a significant impact on the use of mobile banking. Furthermore, perceived awareness combined with subconscious factors such as personal characteristics of Greek consumers play an important role. This is the first study for Greece, to the best of our knowledge, which examines the determinants affecting the use of mobile banking both in terms of consumers' perceptions and attitudes during a period where contactless transactions became necessary in the everyday life of consumers worldwide.

Cultural Values and Internet Banking in Europe. The Moderating Effect of Gender

“…In Southern Europe, Greece, a country with the highest score for UAI (100 points), stands out for the low use of IB at 38%. Along this line, Anysiadou et al (2021) conclude that Greeks fear that 'there is a risk of nonprotection of their privacy and personal information, or that the application will not operate properly and they will lose money which, as a consequence, leads them to develop a negative attitude towards these services' (p. 17).…”

“…Numerous studies have analysed the incidence of COVID-19 in online banking, although practically all of them refer to Asian and developing countries. Among the few works referring to Europe are(Carbó- Valverde et al, 2021),(Branzoli et al, 2021) and(Anysiadou et al, 2021).…”

Digitization and Financial Performance of Banking Sectors Facing COVID-19 Challenges in Central and Eastern European Countries

“…Moreover, studies based on questionnaires have proven that the pandemic crisis has accelerated the use of mobile banking services both in developed countries and especially in less-developed countries [24][25][26][27][28][29].…”

Digital Payments on the Agenda: How Supply-side Actors Framed Cash and Digital Payments during the COVID-19 Pandemic in India

“…The broader digital payments literature is dominated by consumer adoption studies rather than merchant adoption studies (Dahlberg et al, 2015;Duncombe & Boateng, 2009). The trend continues in recent studies on the effect of COVID-19 on digital payments: the consumer is the centre of focus (Al Nawayseh, 2020;Anysiadou et al, 2021;Daragmeh et al, 2021;Musyaffi et al, 2021;Puriwat and Tripopsakul, 2021;Revathy and Balaji, 2020;Sreelakshmi and Prathap, 2020;Undale et al, 2020;Zhao and Bacao, 2021). The analytical thrust has been to explain heightened digital payments in terms of a behavioural change among consumers driven by fear of transmission (particularly through cash), containment measures (lockdowns), and changed norms of interaction, work, and shopping.…”