{"title":"Impact of Consumer Awareness on Switching Behavior in Banking","authors":"T. Szopiński","doi":"10.5709/ce.1897-9254.461","DOIUrl":null,"url":null,"abstract":"In the era of open banking, the phenomenon of bank switching will intensify. The aim of the current study is to answer the following question: is switching, or not switching banks, a result of conscious and independent decision-making? The results from primary data demonstrate that the switching group clients are more conscious than non-switching group clients. They are more likely to compare offers from different banks, visit blogs about finances, demonstrate independence in making financial decisions, and use more service providers which improves their knowledge concerning the offers. The analysis of perceptual maps shows that the switching group is differentiated by various switching costs.","PeriodicalId":44824,"journal":{"name":"Contemporary Economics","volume":"44 1","pages":""},"PeriodicalIF":2.4000,"publicationDate":"2021-12-24","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":"1","resultStr":null,"platform":"Semanticscholar","paperid":null,"PeriodicalName":"Contemporary Economics","FirstCategoryId":"1089","ListUrlMain":"https://doi.org/10.5709/ce.1897-9254.461","RegionNum":0,"RegionCategory":null,"ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":null,"EPubDate":"","PubModel":"","JCR":"Q2","JCRName":"ECONOMICS","Score":null,"Total":0}
引用次数: 1
Abstract
In the era of open banking, the phenomenon of bank switching will intensify. The aim of the current study is to answer the following question: is switching, or not switching banks, a result of conscious and independent decision-making? The results from primary data demonstrate that the switching group clients are more conscious than non-switching group clients. They are more likely to compare offers from different banks, visit blogs about finances, demonstrate independence in making financial decisions, and use more service providers which improves their knowledge concerning the offers. The analysis of perceptual maps shows that the switching group is differentiated by various switching costs.
期刊介绍：
The mission of the Contemporary Economics is to publish advanced theoretical and empirical research in economics, finance, accounting and management with the noticeable contribution and impact to the development of those disciplines and preferably with practice relevancies. All entirety of methods is desirable, including a falsification of conventional understanding, theory building through inductive or qualitative research, first empirical testing of a theory, meta-analysis with theoretical implications, constructive replication that clarifies the boundaries or range of a theory for theoretical research as well as qualitative, quantitative, field, laboratory, meta-analytic, and combination for an empirical research. This clear priority for comprehensive manuscripts containing a methodology-based theoretical and empirical research with implications and recommendations for policymaking does not exclude manuscripts entirely focused on theory or methodology. Manuscripts that raise significant, actual topics of international relevance will be highly appreciated. The interdisciplinary approach including – besides economic, financial, accounting or managerial –also other aspects, is welcomed.
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