Exploring the relationship between lifestyle, digital financial element and digital financial services experience

Abstract

Purpose

The purpose of this study is to explore digital financial services experience, investigate the antecedents to digital financial services experience and examine familiarity as a moderator.

Design/methodology/approach

The study uses dual methods: qualitative and quantitative. Multiple case studies are applied as a qualitative method to explore and capture recent development in rapidly changing digital finance. An empirical, survey-based approach is used to collect data from 258 respondents about their experiences with digital financial services experience using constructs, such as perceived ease of use, timeliness, lifestyle and digital financial element. The study used structural equation modeling using smart-PLS.

Findings

Using word count, hierarchy chart, items clustered by similarity and qualitative analysis by applying NVivo 12, the study validates the constructs and captures recent developments. Using smart PLS, the structural equation model reveals that the digital functional element positively affects the digital financial services experience. It is observed that lifestyle mediated between perceived ease of use and timeliness with digital financial services experience. Further, familiarity moderates the relationship between the digital financial element and digital financial services experience. Moreover, while this research analyzed the relationship regarding financial services customers, we suggest a comparative study between different entities.

Originality/value

The study can be considered one of its kind using qualitative and quantitative research methods. It integrates theory from both the information system and marketing domain. As the increased number of digital channels and interfaces has increased, companies need to understand how to improve the digital financial services experience.

Citation

Bapat, D. (2022), "Exploring the relationship between lifestyle, digital financial element and digital financial services experience", International Journal of Bank Marketing, Vol. 40 No. 2, pp. 297-320. https://doi.org/10.1108/IJBM-12-2020-0575