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This chapter aims to examine Bank Negara Malaysia’s (BNM) approach in fulfilling its financial consumer protection mandate from unfair contract terms and the statutory framework relevant for consumer protection in the domestic market. This is a qualitative-based research. Using content analysis, this study analyses BNM’s Financial Stability and Payment Systems Report from 2012 to 2016, specifically on the ‘market conduct and consumer empowerment’ to explore BNM’s prudential regulatory, supervisory and consumer protection roles in protecting bank consumers from unfair contract terms. It is found that even if a number of standards and guidelines have been issued by BNM in improving ‘fairness and transparency’, the potential risk facing bank consumers from unfair terms in standard consumer contracts of Islamic banks especially where terms may be unfair or unclear remains unchanged. This study recommends that BNM as the Central Bank and financial regulator of Malaysia promotes self-regulation of the Islamic banks by adopting value-based banking of a consumer-focussed culture in delivering an effective protection for consumers from unfair contract terms and empowering them in their dealings with Islamic banks in Malaysia. This study will be helpful in bringing a policy formulation by BNM in identifying their weak areas and suggesting improvements in pursuing a strong consumer protection agenda from unfair contract terms.

The pre-purchase phase of consumer behaviour for financial services, especially retail banking, has been under-researched. This study explored the determinants of consumer pre-banking behaviour (BAB) in the Ghanaian banking sector.

A quantitative approach was employed by extending the constructs of the theory of planned behaviour (TPB) and technology acceptance model (TAM) to include affective and conative components and utilising a partial least squares-structural equation modelling (PLS-SEM) analysis.

Affective, conative, cognitive attitude, emotions and perceived trust (PT) were significant determinants of consumer pre-BAB. From a practical point of view, marketing managers need to be emotionally connected with their potential consumers to enhance the propensity of automatic purchasing.

The country context, sample type and size are limitations and so extending the study to other countries, with larger samples and additional insights on subjective norms (SNs), could help improve the model's efficacy.

The results presented in this paper are relevant and original because it is the only study, based on potential customers in an emergent economy context, to advocate the need for an emotional connection with potential consumers at the pre-banking stage to enhance the possibility of automatic purchasing.

The purpose of this paper is to investigate internet-only banks’ (IOBs) adoption by French consumers and attempt to understand the factors that influence consumers’ initial trust in this type of service.

A non-probability convenience sample of potential IOBs adopters from France was used to test a structural equation model that analyzed the antecedents of initial trust and usage intentions of IOBs.

The study shows that trust is a major influencer in IOBs’ adoption in France. It has also been found that consumer familiarity with internet banking, high perceived structural assurance, perceived website quality, bank reputation and relative advantage are critical factors influencing IOBs’ initial trust formation.

This study shows the applicability of the initial trust-building model in the context of IOBs and underlines the importance of factors such as familiarity, reputation and perceived quality in the context of online banking services in France.

This paper provides e-banking companies with the most important factors that contribute to build the initial trust of customers. E-banks need to focus on making themselves known and promoting their brand more effectively through advertising and advocacy.

This study contributes significantly to the marketing research related to consumer trust and brand reputation, as well as to the electronic banking literature. The results show the importance of initial trust in the context of services and the main factors that influence it, including a key branding variable such as reputation. The paper also focuses on the IOBs’ adoption in France, a market understudied compared to the USA, and seeks to understand the mechanisms associated with the initial formation of French consumers’ trust toward it.

The purpose of this paper is to explore how variables like propensity to trust, website usability, social influence, customer awareness about internet-only banks (IOBs) and perceived compatibility influence customers’ initial trust formation toward IOBs’ acceptance. The model is based on the technology acceptance model, diffusion of innovation theory and theory of reasoned action.

A non-probability convenience sample of 239 IOBs’ potential adopters from France was used to test the structural equation model between initial trust antecedents and IOB’s usage intention.

Findings confirm the important role of trust in initiating customers’ relationship with IOBs and show that social influence, compatibility and website usability contribute the most to IOB’s initial trust formation. Indeed, it has been found that the level of consumer information about IOBs and propensity to trust have a moderate impact on consumer’s initial trust. Results revealed that there is a general lack of consumer’s awareness about IOB’s services features.

To promote the trustworthiness of their sites and services to potential consumers, IOBs should enhance WOM by using social network applications. IOBs need to develop marketing communication campaigns in which they can educate potential customers about IOB’s features. In addition, IOBs should demonstrate to their customers that IOBs’ banking system is consistent with their current lifestyle. IOBs are encouraged to develop a favorable impression by investing heavily on their website usability and information design.

This study contributes significantly to the marketing research literature related to consumer trust and electronic banking literature. Indeed, only a few marketing studies have been conducted about IOBs. The results show the role played by initial trust formation in the case of IOBs. In addition, it points out the importance of five trust cues: individual cues, knowledge cues, institutional cues, cognitive cues and social cues (social influence).

In this paper the competitive landscape of financial institutions is shifting and internet banking is no longer a competitive advantage but a competitive necessity for banks. However, a limited number of empirical studies have been published in the marketing literature about electronic banking. This paper seeks to examine consumers' choices between electronic banking and non‐electronic banking in New Zealand.

The paper shows that the data for this analysis were obtained through a mail survey sent to 1,960 households in New Zealand. The decision to use electronic banking is hypothesised to be a function of service quality dimensions, perceived risk factors, user input factors, price factors, service product characteristics, individual factors and demographic variables such as age, gender, marital status, income, etc. Logistic regression is used to analyse the data. The discrete dependent variable measures whether an individual is an electronic banking or non‐electronic banking user.

The findings in the paper show that the output from the logistic regression indicates that the service quality, perceived risk factors, user input factors, employment, and education are the dominant variables that influence consumers' choice of electronic banking and non‐electronic banking channels.

This paper provides an improved understanding of consumers' choice between electronic and non‐electronic banking. This paper also identifies new relationships, and provides findings that further support, confirm, or contradict previous studies. In addition, it provides insights into the links between electronic banking and consumer decision making, to help provide strategies, recommendations and guidelines for the banking industry.

The paper shows how banks are developing, and utilizing new alternative distribution channels to reach their customers.

This monograph covers a number of key articles and presentations by the author over the last decade. The points contained in them reflect a clear belief based on experience of creating significant cultural change so that banks become more market‐driven and customer‐orientated. Many of the forecasts made in the articles have become a reality in the marketplace. This monograph begins with a description of changes over the last decade: the introduction of the marketing function into banks, consumer responses, new competitors, technological developments, and the impact of Government. Marketing has faced many difficulties in the banking industry and competitive breakthroughs have not been easy to achieve. Many leaders in the industry believe in business/marketing strategy evolving in close association with IT planning – this is the second topic, IT support may be crucial. The importance of advertising and management of agency relationships is the subject of Chapter 3 – how can it be effectively used? Chapter 4 looks at the ways in which the consumer is presently getting a better deal; Chapter 5 describes the marketing success of the NatWest Piggy Bank within the context of a changing marketing culture. A wider repertoire of marketing techniques are used in the USA (Chapter 6) but if they are to be used in the same way here then the situation will need to approximate more closely to that of the USA – credit and credit cards are the particular focus and the US market is more aggressive. Chapters 7‐9 look at the future of financial services marketing from the retailer′s perspective – the retailer′s detailed approach to a possible new business has distinctive strengths, but their actual opportunities in this market may be restricted to an extent by, for example, inexperience and so lower credibility as vendors of some specialised services like investment management. Chapter 10 appraises the value and strategic nature of market research. Chapter 11 considers the movement of building societies into the wider personal financial services marketplace, the product′s role in the marketing mix, and the impact of the Single Market in Europe. Chapter 12 singles out the cost‐effective technique of automated vetting of customers′ creditworthiness from the special viewpoint of the building society. The monograph concludes with a discussion of the changing market and future prospects: the world of finance is no longer simple; money is no longer the common denominator; the consumer is now the focus; competition to provide services is fierce; the future is exciting!

This paper explores the relationships between consumer innovativeness, self‐efficacy on the internet, internet attitudes and online banking adoption, while controlling for personal characteristics.

The study integrates the technology acceptance model (TAM) and adoption of innovation framework to develop predictions of online banking acceptance. It distinguishes between innate consumer innovativeness, a generalized personality trait, and internet‐domain‐specific or actualized innovativeness in order to explore consumer characteristics' impact on adoption. Data are analyzed using logistic regression.

While results confirm the positive relationship between internet related innovativeness and online banking they also surprisingly show that general innovativeness is negatively related to online banking.

Results may or may not differ according to whether consumers are using online, telephone banking, electronic funds transfer (EFT) or direct bill payment. Our results may generalize to telephone banking and EFT as these products, like online banking, require an active consumer role in using the product. With direct bill payment, consumers need only set up the process initially and then monitor it on a semi‐regular basis.

Findings suggest that the type of consumer innovation matters in understanding the adoption of e‐banking processes. This supports the notion that online shoppers are distinct from traditional non‐online shoppers or highlight the unique nature of purchasing financial versus non‐financial products. Banks offering e‐banking need to recognize the importance of internet‐specific consumer innovation characteristics.

This paper closes a research gap as the model tested provides insights toward understanding the consumer‐based phenomenon of e‐banking, and serves to evaluate the TAM in this context. In contrast to previous research the study utilized an actual measure of e‐banking adoption versus a measure of intention to use the technology.

The purpose of this paper is to study the important factors which help explain consumer intention and use behavior in mobile banking (m-banking) adoption. All constructs of the unified theory of acceptance and use of technology 2 are studied. Non-monetary value is studied through perceived value. Trust and perceived risk are also included to predict intention.

A questionnaire was utilized to evaluate customer responses on a five-point Likert scale. A convenience sampling technique was used to collect data from a sample of 490 respondents in Pakistan. The data were analyzed using AMOS and SPSS for Cronbach’s α, CR, CMV, AVE, Harmon’s single factor test, correlation and structural equation modeling.

The results of the study show that most of the predictors of intention, including perceived value, performance expectancy, habit, social influence, effort expectancy, hedonic motivation (except for facilitating condition), perceived risk and trust, are significant. All predictors of usage behavior are significant.

A cross-sectional study was conducted due to time constraints.

Bank managers must focus on improving customers’ intentions to use m-banking as well as on providing facilitating conditions to increase its actual use. To boost mobile banking, banks’ management must consider the customers’ habits while designing their m-banking products.

The findings of this paper are not only interesting in terms of boosting m-banking diffusion rate, but also in terms of financial inclusion of the vast majority of mobile users. Further the impact of intention, facilitating condition and habit were checked on actual use behavior since people tend not always to act upon their intentions.

This study aims to identify key factors driving consumers' adoption of Open Banking. It extends the Unified Theory of Acceptance and Use of Technology (UTAUT) by integrating perceived risk, initial trust and financial literacy into an overarching conceptual model.

Measurement items of the theoretical constructs included in the conceptual model were adapted from related literature and a set of hypotheses was developed. The hypotheses of the conceptual model were subsequently assessed with partial least squares structural equation modeling using a dataset of 456 Australian survey respondents.

The model has strong explanatory power with an R² of 69.5%. Performance expectancy, effort expectancy, social influence and perceived risk are direct antecedents of consumers' usage intention of Open Banking. Social influence has a strong mediating effect on usage intention through performance expectancy. The effect of perceived risk is alleviated by effort expectancy and initial trust, while initial trust positively affects the effects of performance expectancy and effort expectancy on consumers' usage intention of Open Banking. Finally, financial literacy lowers initial trust towards Open Banking, possibly inducing consumer skepticism.

The results suggest that practitioners should focus on performance expectancy as a primary driver of Open Banking adoption, while understanding the role of other drivers, such as social influence and perceived risk in developing marketing strategies. Policy makers are recommended to adopt a governance approach to build initial trust amongst consumers.

This research contributes by providing an integrated and comprehensive model for explaining consumers' FinTech adoptions by extending the existing technology adoption model UTAUT to the Open Banking domain and integrating perceived risk, initial trust and financial literacy, thereby advancing and enriching the conceptual horizon of the extant literature.

Capital controls restrict cash withdrawals and international transfers, among other restrictions. The purpose of the study is to explore how capital controls have influenced m-banking usage and disclose the underlying factors that explain m-banking usage intentions.

Grounded on the Technology Acceptance Model (TAM), this study assumes that usage behavior may be different from intentions to adopt. In-depth interviews (study 1) were employed with both consumers and bank employees to explore the factors of m-banking adoption under capital controls, followed by an online survey (study 2) pertaining to examine the relationships between underlying factors.

Study 1 reveals that the growth of m-banking usage is strongly associated with capital controls that perceived ease of use, usefulness, risk, technology anxiety and decision comfort are significant attributes in influencing usage intention. Study 2 verifies that most underlying factors are important predictors of m-banking usage intention, except technology anxiety does not impact m-banking usage.

The respective effects on usage intentions may be different in the absence of capital controls. A similar study could examine the importance of the respective constructs in conditions of no forced use. The case of forcing consumers to adopt a technological innovation could be further explored.

Retail banking consumers have changed their banking and financing behaviors because of capital controls. Forced usage may cause customers to cultivate positive attitudes towards the technology and consider it for continuous usage.

Capital controls were found to impact positively customer behavior towards m-banking. It is revealed that capital controls have forced bank customers to adopt and use m-banking for their financial needs.