Consumer Propensity to Adopt PSD2 Services: Trust for Sale?

Bijlsma, Michiel; Cruijsen, Carin van der; Jonker, Nicole

doi:10.2139/ssrn.3531010

Cited by 7 publications

(4 citation statements)

References 11 publications

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“…Bijlsma et al. (2020) find that the degree to which newcomers in the Dutch retail payments market (like fintech companies) will be able to compete with incumbent parties depends on people's trust in these players compared to trust in their own and other banks. The more people trust a service provider, the more likely they are to consent to payments data usage and adopt account information and payment initiation services.…”

Section: Why Is Trust Important?mentioning

confidence: 99%

Trust in financial institutions: A survey

Cruijsen

Haan

Roerink

2021

Journal of Economic Surveys

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Trust in financial institutions is widely considered important. However, a clear overview of studies on the drivers of trust is missing. We intend to fill this gap in the literature. After discussing why trust in financial institutions is important, we turn to its measurement, where we distinguish between trust in one's own institution and trust in institutions in general (narrow-scope and broad-scope trust), and discuss how these measures differ from generalized trust (i.e. trust in other people with whom there is no direct relationship). Finally, we survey the determinants of trust in financial institutions and discuss a wide range of drivers. First, trust in financial institutions depends on the economic situation: it behaves procyclically and is negatively affected by financial crises. Second, the behavior of the financial institutions matters: prudent conduct, the provision of good services and financial health have a positive effect on trust. Third, although consumer characteristics also relate to trust, many of these relationships are context-dependent.Fourth, there is a positive association between narrow-scope trust on the one hand and broadscope trust and generalized trust on the other. Last, policy measures and supervisory actions can help prevent loss of trust.

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Section: Why Is Trust Important?mentioning

confidence: 99%

Trust in financial institutions: A survey

Cruijsen

Haan

Roerink

2021

Journal of Economic Surveys

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“…The number of observations is 2,296. Bijlsma et al (2020) find that the degree to which newcomers in the Dutch retail payments market (like fintech companies) will be able to compete with incumbent parties depends on 7 Trust may also mediate relationships. Based on two surveys comprising 1,155 bank consumers and 756 mutual fund investors, Hansen (2017), for instance, reports that broad-scope trust negatively moderates relations between consumers' knowledge and financial healthiness and between their cognitive effort and financial healthiness.…”

Section: Figure 2 a Negative Relationship Between The Propensity To mentioning

confidence: 99%

Trust in Financial Institutions: A Survey

2020

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Trust in financial institutions is widely considered important. However, a clear overview of studies on the drivers of trust is missing. We intend to fill this gap in the literature. After discussing why trust in financial institutions is important, we turn to its measurement, where we distinguish between trust in one's own institution and trust in institutions in general (narrow-scope and broad-scope trust), and discuss how these measures differ from generalized trust (i.e. trust in other people with whom there is no direct relationship). Finally, we survey the determinants of trust in financial institutions and discuss a wide range of drivers. First, trust in financial institutions depends on the economic situation: it behaves procyclically and is negatively affected by financial crises. Second, the behavior of the financial institutions matters: prudent conduct, the provision of good services and financial health have a positive effect on trust. Third, although consumer characteristics also relate to trust, many of these relationships are context-dependent. Fourth, there is a positive association between narrow-scope trust on the one hand and broadscope trust and generalized trust on the other. Last, policy measures and supervisory actions can help prevent loss of trust.

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“…PSD2 requires enhanced business models from a consumer data and technology perspective (Polasik et al, 2020). Consumer reactions and habits vary, especially regarding their level of readiness for the new services provided (Bijlsma et al, 2020).…”

Section: Discussion and Findings In The Context Of Financial Regulationmentioning

confidence: 99%

Implications of “The Growth of Finance” on Financial Regulation

Adler¹

2022

IJARBM

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This essay aims at connecting the findings of Greenwood and Scharfstein, authors of “The Growth of Finance”, and my research topic "quantification of regulatory risk and impact of new regulation on business models”. The exercise focuses on how developments in the financial subsectors credit intermediation and asset management, for which a sound regulatory framework is needed, can be connected to prudential regulation. Prudential regulation, i.e. capital and liquidity regulation, primarily mitigates the weaknesses of the financial sector, which are pointed out by Greenwood and Scharfstein. Understanding the implications of prudential regulation, including societally beneficial as well as negative aspects, is the key aspect of the proposed dissertation topic. The outcome of this exercise with regards to the research agenda is that aspects such as financial macroeconomics , welfare considerations, and consumer protection issues might be worth adding.

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Consumer Propensity to Adopt PSD2 Services: Trust for Sale?

Cited by 7 publications

References 11 publications

Trust in financial institutions: A survey

Trust in financial institutions: A survey

Trust in Financial Institutions: A Survey

Implications of “The Growth of Finance” on Financial Regulation

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