Search results

The research aims to determine the directions for developing marketing strategies of state commercial banks based on quantitative metrics for evaluating the effectiveness of the marketing activities of banks adapted for the banking sector. During the research, the author applied the methods of terminological, structural, and logical analysis, analogy, synthesis, system analysis, methods of generalization and grouping, table and graphic methods, economic and statistical methods, and methods of dynamic and logical analysis. The result of this research is the systematization of existing theoretical and methodological approaches to calculating the effectiveness of marketing activities in a bank, as well as the calculation of the author's methodology for assessing the main, innovative, and total effectiveness of marketing activities in leading Russian banks. The methodology for assessing the quantitative indicators of a bank's marketing effectiveness has been improved, which consists of the indicators of the effectiveness of fixed costs for marketing in the bank and considers unforeseen expenses caused by the bank's innovative activity related to challenges of time and digital transformation.

This paper aims to examine the direct impacts of marketing resources and marketing activities on several business performance indicators in the banking industry and the indirect effects through customer-based brand equity.

We use a holistic empirical approach based on resource-based view and marketing productivity chain. The main study consists of a secondary analysis using quarterly data of fourteen banks over four years. We analyze the data using fixed-effect panel data regression, namely seemingly unrelated regressions.

We find that customer-based brand equity is one of the most influential factors on business performance. Moreover, the indirect effect through customer-based brand equity should be considered in improving business performance. Marketing-related financial resources positively impact customer-based brand equity and business performance. Regarding marketing activities, pricing strategies affect the bank preferences of customers, which in turn affect the growth of deposit volumes and churn rates. Additionally, the number of bank branches positively impacts business performance. Advertising spending on different media has differentiated impacts on the performance indicators; thus, the allocation of advertising budget and advertising planning are critical.

This study examines the inter-relationships among marketing resources, marketing activities, consumer response through brand equity and marketing performance. This study contributes to the literature by integrating the resource-based view and the marketing productivity chain to analyze the inter-relationships using panel data and several sector-related metrics. This study provides valuable insights to decision-makers in the banking industry.

The study examined the mediating and moderating roles of engagement and trust in the relationship between digital marketing and purchase intentions in the banking industry.

The study was quantitative and cross-sectional and used a sample of 462 respondents drawn through a combination of purposive and convenience sampling techniques. The main method of data analysis was the covariance-based structural equation modeling used to assess the paths relationships, using the Amos v.23 software. Prior to that, a confirmatory factor analysis was done to assess the reliability and validity of the instrument.

The empirical findings support the hypothesized relationship between digital marketing and purchase intention of banks’ services. Consumer engagement partially was found to mediate the association between digital marketing and purchase intentions. Finally, consumer trust moderates the relationship between digital marketing and consumer engagement.

Given digital marketing is evolving with new tools and channels coming up by the day, we recommend that future studies should explore others such as search engine marketing, affiliate marketing, content marketing, display advertisement etc. These will help give a broader perspective to the digital marketing strategy and its effect on consumers’ purchase intentions of banks’ services.

The study makes a strong case for the use of multi-channel and/or integrative approach, improving digital infrastructure and systems, adopting new and emerging digital tools/channels such as artificial intelligence, chatbots among others to facilitate digital marketing strategy implementation while ensuring active consumer engagement. It further underscores the need for managers to build trust and regularly engage consumers through their digital marketing channels.

The integration of the variables in the study provides new empirical understanding and extends knowledge in digital marketing theory. It also serves as a foundation for future studies to explore other areas in the digital marketing, especially from a developing digital economies perspective.

This study aims to use a risk management approach to analyze the factors influencing the marketing failure of Islamic banking products in Indonesia.

Data were collected from respondents to be involved in the risk assessment of failure based on the criteria of severity score, likelihood of occurrence and detection ability of employees. The dominant factors were grouped into the number of new customers and transaction value categories. The failure mode and effect analysis (FMEA) method was used to identify the highest risk dominant factors.

The study results show critical factors and prioritized for immediate improvement. The number of new customers can be identified based on the following factors: occupation of prospective customers; income level of prospective customers; the lifestyle of the prospective customer. Transaction value can be identified based on the following factors: total balance; the level of convenience in transactions; turnover of funds; profitability; and risk management.

The Islamic banking industry in Indonesia needs to consider the importance of suitability: target market with the products offered, considering the income level of customers with suitable products, the level of profit sharing expected by consumers, improving customer education about Islamic banking products, the capabilities of financing staff and staff capabilities on risk management in Islamic banking products and services.

To the best of the author’s knowledge, this research is the first to apply FMEA in analysing marketing failures of Islamic banking products and services.

As internet banking service marketing platforms continue to advance, customers exhibit distinct behaviors. Given the extensive array of options and minimal barriers to switching to competitors, the concept of customer churn behavior has emerged as a subject of considerable debate. This study aims to delineate the scope of feature optimization methods for elucidating customer churn behavior within the context of internet banking service marketing. To achieve this goal, the author aims to predict the attrition and migration of customers who use internet banking services using tree-based classifiers.

The author used various feature optimization methods in tree-based classifiers to predict customer churn behavior using transaction data from customers who use internet banking services. First, the authors conducted feature reduction to eliminate ineffective features and project the data set onto a lower-dimensional space. Next, the author used Recursive Feature Elimination with Cross-Validation (RFECV) to extract the most practical features. Then, the author applied feature importance to assign a score to each input feature. Following this, the author selected C5.0 Decision Tree, Random Forest, XGBoost, AdaBoost, CatBoost and LightGBM as the six tree-based classifier structures.

This study acclaimed that transaction data is a reliable resource for elucidating customer churn behavior within the context of internet banking service marketing. Experimental findings highlight the operational benefits and enhanced customer retention afforded by implementing feature optimization and leveraging a variety of tree-based classifiers. The results indicate the significance of feature reduction, feature selection and feature importance as the three feature optimization methods in comprehending customer churn prediction. This study demonstrated that feature optimization can improve this prediction by increasing the accuracy and precision of tree-based classifiers and decreasing their error rates.

This research aims to enhance the understanding of customer behavior on internet banking service platforms by predicting churn intentions. This study demonstrates how feature optimization methods influence customer churn prediction performance. This approach included feature reduction, feature selection and assessing feature importance to optimize transaction data analysis. Additionally, the author performed feature optimization within tree-based classifiers to improve performance. The novelty of this approach lies in combining feature optimization methods with tree-based classifiers to effectively capture and articulate customer churn experience in internet banking service marketing.

The purpose of this paper is to examine the impact of affiliate marketing strategies as a tool for increasing customers' engagement and vulnerability over financial services. This is attempted by examining the connection between affiliate marketing factors and customers' brand engagement and vulnerability metrics.

The authors developed a three-staged methodological context, based on the 7 most known centralized payment network (CPN) firms' website analytical data, which begins with linear regression analysis, followed by hybrid modeling (agent-based and dynamic models), so as to simulate brand engagement and vulnerability factors' variation in a 180-day period. The deployed context ends by applying the cognitive modeling method of producing heatmaps and facial analysis of CPN websites to the selected 47 vulnerable website customers, for gathering more insights into their brand engagement.

Throughout the simulation results of the study, it becomes clear that a higher number of backlinks and referral domains tend to increase CPN firms' brand-engaged and vulnerable customers.

From the simulation modeling process, the implication for backlinks and referral domains as factors that enhance website customers' brand engagement and vulnerability has been highlighted. A higher number of brand-engaged website customers could mean that vulnerable categories of customers would be impacted by CPNs' affiliate marketing. Improving those customers' knowledge of the financial services utility is of utmost importance.

The outcomes of the research indicate that online banking service providers can increase their customers' engagement with their brands by adopting affiliate marketing techniques. To avoid the increase in customers' vulnerability, marketers should aim to apply affiliate marketing strategies to domains relevant to the provided financial services.

The paper's outcomes provide a new approach to the literature, where the website customer's brand engagement comes out as a valuable metric for estimating online banking sector customers' vulnerability.

This review aims to present the state of the art regarding the impact of financial technology (FinTech) on financial inclusion and its implications for consumers and institutions in terms of accessibility, usage and quality. An integrated framework is developed to illustrate the primary thematic areas for future research.

We performed a systematic literature review (SLR) to summarize and synthesize existing research published in peer-reviewed academic journals. Forty-two eligible studies were identified from the Web of Science database and a cross-reference search.

The results suggest that FinTech promotes financial inclusion for consumers and businesses by increasing the accessibility, usage and quality of financial products. We present a multidisciplinary integrative framework that links the three dimensions of financial inclusion (i.e. access, usage and quality) to financial technology. Finally, we propose several avenues for future research.

To the best of the author’s knowledge, this is the first SLR on how FinTech is associated with the accessibility, usage and quality of financial products. We provide an integrative framework for understanding the topic with implications in different fields.

This study aims to investigate the evolution of sustainability reporting in the United Arab Emirates (UAE) against a backdrop of changing legislation. It uses qualitative content analysis within the corporate social responsibility (CSR) communication framework proposed by Kotler and Lee (2005) to investigate how corporations in the UAE disclosed information on their CSR activities in 2018 and 2023.

The authors refer to the CSR communication framework proposed by Kotler and Lee (2005), which puts forward a set of marketing communication strategies that can be used to promote a corporation. The authors identify the strategies used by the top 14 companies operating in the UAE in their CSR disclosure in the fall of 2018 and the spring of 2023, respectively. The authors note any changes that have occurred over time and differences between the distinct business sectors.

The findings indicate a continuing reliance on the marketing communication strategies associated with corporate philanthropy, cause promotion and being a good corporate citizen. All of the corporations in the study showed evidence of engaging in an increasing diversity of CSR initiatives and a corresponding diversity in the marketing communication strategies they used to promote them.

Corporations wishing to promote themselves through their CSR activities and build a positive reputation would do well to select a diverse set of CSR activities communicated in a variety of ways.

To the best of the authors’ knowledge, this study is the first longitudinal, comparative study examining the CSR marketing strategies of the top corporations in the UAE. As such, it contributes to the ongoing debate on CSR in the Middle East in general and to understanding more about the approach as well as the changes in approach to CSR in a Muslim-majority Middle-eastern and secular developing economy, the impact of CSR legislation and government regulation on CSR disclosures in different business sectors and the promotional opportunities afforded by effective CSR disclosure within the UAE in particular.

The present study aimed to provide an understanding of the roles of community-based financial service organizations (i.e. rotating savings and credit associations [ROSCAs] as institutional pillars in facilitating low-income, unbanked consumers’ access to informal financial services).

Semi-structured interviews were conducted with 39 low-income, unbanked consumers participating in ROSCAs in Pakistan, where only 21% of adults have a bank account and almost four out of five individuals live on a low income. The obtained data were analyzed using the thematic analysis technique.

ROSCAs’ regulatory, sociocultural and cognitive aspects facilitate low-income, unbanked consumers’ utilization of informal financial services owing to their approachability by, suitability for, and fairness to such consumers. Thus, they promote such consumers’ financial inclusion.

Low-income consumers are mostly unable to access formal financial services due to the existing supply- and demand-side impediments. Understanding ROSCAs’ institutional functioning can help formal financial service providers create more transformative financial services based on the positive institutional aspects of ROSCAs to enhance poor consumers’ financial inclusion and well-being.

The inclusion of low-income, unbanked consumers in formal banking services will help them better control their finances.

Many low-income, unbanked consumers in developing countries utilize informal financial services to meet their basic financial needs, but service researchers have rarely investigated how informal financial institutions function. The present study showed that ROSCAs, as informal institutions, meet low-income, unbanked consumers’ personal, social and financial needs in a befitting manner, which encourages such consumers to use the financial services offered by ROSCAs.

Bank–fintech associations are significant globally, establishing purposeful eco-systems towards extending and complementing capabilities, reach and customer experiences. This paper aims to explore 39 leading fintechs in India catering across payments, lending, wealth management, regulation, neo-banks and other banking functions. Alongside fintechs, the research studies 19 leading banks (public and private) to understand the nature of bank–fintech associations in the Indian context.

The research focuses on narratives from leading banks and top fintechs in India, captured from public disclosures and leadership interviews. The study leverages qualitative research techniques, including grounded theory approaches of inductive analysis, to codify interview and narrative observations to discover relevant objectives, scenarios, challenges and outcomes in India-centric bank–fintech associations.

Bank–fintech associations in India are increasingly focusing on financial services portfolio diversification and improvement in customer experience. Simultaneously, both banks and fintechs, differentiate with innovations and extend offerings to target underserved customer segments. The associations are beneficial for both banks and fintechs in transforming offerings and improving efficiency, scale across channels. Through codification of observations, review of existing literature and evaluation of best practices, alongside subject matter expertise, the study evolves a generalized “Association Model”. The model can steer meaningful bank–fintech associations in India and globally. The association model relates to observables like objectives, enablers of bank–fintech associations, challenges and association-driven value outcomes. Built from study of practices, the proposed model is relevant for strategic orientation in bank–fintech associations.

The findings reveal practices in bank–fintech associations in India with significant learning opportunity for organizational leaders globally. Understanding the nature of association is relevant for strategic interventions, particularly in scenarios of inter-organization collaborations. Central banks, policymakers, governments, investors, banks and fintechs can use the derived association model to establish, govern and steer purposeful value-driven associations.