Trust in financial services: Retrospect and prospect

Devlin, James F.; Ennew, Christine; Sekhon, Harjit; Roy, Sanjit Kumar

doi:10.1057/fsm.2015.21

Cited by 29 publications

(28 citation statements)

References 18 publications

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“…In practice, this could mean that when a client with low financial self‐efficacy nods their head in agreement that they will accomplish a given task, advisors or counselors may want to follow up with a reminder email, text message, or phone call to ensure completion of the task. It is important to note that treating vulnerable consumers fairly and supporting them in achieving their financial goals is not only the “right thing to do” from an ethical perspective, but also helps practitioners comply with increasingly strict guidelines from policymakers, protect themselves from future penalties from regulators, and restore trust in the financial services sector (Devlin et al ).…”

Section: General Conclusionmentioning

confidence: 99%

How Does Consumers' Financial Vulnerability Relate to Positive and Negative Financial Outcomes? The Mediating Role of Individual Psychological Characteristics

Hoffmann¹,

McNair²

2018

Journal of Consumer Affairs

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Vulnerable consumers are at particular risk of financial detriment due to, for example, low financial literacy or numeracy, high debt, low income, or impactful changes in personal circumstances. We introduce a comprehensive and formative measure of financial vulnerability that integrates these risk factors and is grounded in definitions of vulnerability from financial regulation bodies and government agencies such as the Consumer Financial Protection Bureau. Across three studies of US individuals, we assess the nomological validity of this measure of financial vulnerability through its relationship with positive and negative financial outcomes (e.g., savings levels, paying credit card balances in full each month, being in arrears) as well as relevant psychological characteristics (e.g., personal savings orientation [PSO], money management skills, financial self‐efficacy). Moreover, we examine whether and how these psychological characteristics mediate the relationship between financial vulnerability and financial outcomes. We conclude with an overview of implications for policy makers and business practitioners.

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Section: General Conclusionmentioning

confidence: 99%

How Does Consumers' Financial Vulnerability Relate to Positive and Negative Financial Outcomes? The Mediating Role of Individual Psychological Characteristics

Hoffmann¹,

McNair²

2018

Journal of Consumer Affairs

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“…Although image is a multidimensional construct that varies with that of the stakeholders' [42], the quality of products and services has been identified as one of the key factors describing a company's reputation [43]. Ennew and Sekhon [44] argue that reputation develops when services are accompanied by knowledge, experience, consistency and shared values, and in the case of low-quality products and services, it is not possible to build a lasting, long-term image [45]. Through the quality of products and services, organizations show their credibility and enjoy the trust of their stakeholders [46], increase customer satisfaction, which leads to a high level of customer engagement and loyalty [2].…”

Section: Hypothesis 3 (H3) Various Services Offered By Social Media Have a Positive Impact On The Perception Of The Quality Offered In Thmentioning

confidence: 99%

Social Media about the Company's Image as an Element of Specific Development

Żywiołek¹

2021

Preprint

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Personalization, mobility, artificial intelligence, corporate life transferred to the world in social media - all these elements will shape corporate social media in the near future. It is necessary to consider what features and what standards of behaviour enterprises will have to meet in order to build an image in the world of social media and adapt to the preferences and requirements of the client. Corporate social media has been created to support clients in using various services, give them the possibility of easy communication without time and place barriers. Therefore, high-quality corporate social media profiles significantly affect trust in the company and can affect its reputation. Considering that the aim of the article is to examine the impact of social media on the image of the company, various exchanges of perception of the quality of corporate social media, the risks they bring for the company and the perception of them by customers, which gives the image, were examined. The results of empirical research indicate that the secu-rity, simplicity and variety of m-banking services have a significant impact on the perceived qu-ality, which in turn has a positive impact on reputation. The author proposed a methodology based on the Kano model and customer satisfaction in order to examine the declared needs and unspecified desires and divide them into different groups with different impact on consumer satisfaction. The study took the form of an original, universal questionnaire that can be used in other similar studies. The analysis included 861 correctly completed questionnaires, and the ob-tained results were included in the management's action plans after their submission. Enterpri-ses expressed their interest that the measures taken should be reviewed after one to two years.

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“…Referring to the research of (Devlin et al, 2015), trust is the overall attitude and belief about the beliefs that are held. In the research, the indicators applied to measure trust are based on research by (Sekhon et al, 2014) namely capability, stability and integrity, moral values, and care.…”

Section: Figure 2 Unified Theory Of Acceptance and Use Of Technologymentioning

confidence: 99%

Determining Factors of Digital Wallet Usage

Warningsih²

2021

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This research aims to examine the effect of perceived usefulness, perceived risk, and trust on the usage intention of digital wallets among college students. Respondents in this study consisted of 138 undergraduate students of the Faculty of Economics and Business, Tarumanagara University, who use ShopeePay. The primary data used for the study were obtained through questionnaires distributed online, in which to select respondents a purposive sampling method was applied. Then the collected data is processed with the analysis technique of Structural Equation Modeling (SEM), using SmartPLS software. The results showed that perceived usefulness and trust positively influenced usage intention. Meanwhile, the perceived risk did not affect usage intention.

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Trust in financial services: Retrospect and prospect

Abstract: Fostering and maintaining high levels of trust in the financial

Cited by 29 publications

References 18 publications

How Does Consumers' Financial Vulnerability Relate to Positive and Negative Financial Outcomes? The Mediating Role of Individual Psychological Characteristics

How Does Consumers' Financial Vulnerability Relate to Positive and Negative Financial Outcomes? The Mediating Role of Individual Psychological Characteristics

Social Media about the Company's Image as an Element of Specific Development

Determining Factors of Digital Wallet Usage

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