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Product intervention power is introduced under the markets in financial instruments regulation (MiFIR) and packaged retail and insurance-based investment products (PRIIPs) Regulation for all EU Member States and gives National Competent Authorities (NCAs), European Securities and Markets Authority (ESMA), and European Banking Authority (EBA) powers to monitor financial products (and services) under their supervision and to “temporarily” prohibit or restrict the marketing, distribution, or sale of certain financial instruments, or to intervene in relation to certain financial activities or practice. This extends the supervisory measures defined in MiFID II to any PRIIPs (including insurance-based investment products “IBI products”) that would not otherwise fall under the scope of MiFID II. Product intervention power is given to the NCAs, and in order to use power, it requires to take the specifics of the individual case into account and a series of conditions, criteria, and factors to fulfill. Moreover, ESMA and the EBA have a type of control function and ability to override national regulators on product. The aim of product intervention powers is to ensure strengthening of investor protection, but given the potential significant impact of this power, calls into question of possibility to delay innovation and slow down product developments on the capital market.

This paper provided an overview of supervisory measures on product intervention, that is, scope of the product intervention power, criteria, factors, and risks which have to be taken into consideration when using this regulator’s tool.

The purpose of this paper is to offer an integrated approach for understanding the relations among the theoretical and operational antecedents of consumer involvement in the context of financial products. The theoretical antecedents of involvement have been conceptualized as the consumer's personal profile, purchase situation, and target product; the operational antecedent includes the purchase availability manipulation.

The research is based on a field study among private customers of a leading financial institute and on two experimental designs within lab settings. The independent variables include the theoretical and operational antecedents and the dependent measure comprises the involvement measure.

The findings emphasize that the theoretical antecedents constitute an effective manipulation of involvement, whereas the operational antecedent has only limited effect.

Financial managers should consider the type of financial service, distribution channel, social context and advertising medium, in conjunction with the consumer's profile, to increase the overall involvement.

The research provides a new view at the way predictions of involvement are formed within the financial context. This view is enabled by including the antecedents of product involvement along with the manipulation of product availability. When these components are considered jointly, a richer set of predictions can be offered than previously conceptualized. To this end, the research calls for a more comprehensive approach for manipulating involvement that bases its activation on the theoretical antecedents.

The purpose of this study is to identify and explore the role of Islamic financing in supporting development of halal industry in Indonesia.

This research is divided into two studies. The first study uses survey-based quantitative method and the second study uses focus group discussion (FGD) method. Using a purposive and proportional sampling technique in the first study, this research collected 1,985 samples of Islamic financial products of business owners (demand-side) from all parts of Indonesia. The data were analyzed using the partial least square structural equation modeling approach. The authors also conducted FGDs, involving 35 participants from government, financial, social and education institutions (supply-side) as well as business owners (demand-side) in three separated times.

In the first study, it can be identified that literacy on Islamic finance, attitude and awareness strongly affect business owners’ intention to use Islamic financial products. It is also found that subjective norm significantly influences literacy, attitude and awareness. Interestingly, religiosity does not significantly affect attitude toward Islamic financial products. According to the FGD in the second study, this research generates several factors motivating business owners’ preference to choose conventional rather than Islamic financial products, including expensive pricing, less developed technology, bad service quality and the halal status of the products. The reason for insignificant results of religiosity on attitude in the first study is explained in the second study. Most users are utilitarians who mainly perceived the products based on the sought benefits provided by the products.

This research offers the government a road map showing the strategy to build Islamic financial ecosystem in Indonesia. The road map integrates supply-side, which includes government, financial industries, social and education institutions and scientific organizations, and demand-side, which includes business owners or entrepreneur associations.

This research provides a wide range of samples derived from business owners’ respondents of halal industry in all representative islands in Indonesia. Therefore, it gives more holistic and representative findings. In addition, the analysis in this research covers not only the demand-side but also the supply-side perspective. Lastly, this research provides an Islamic financial ecosystem model that integrates all stakeholders to improve halal industry performance as a whole.

Holistically reviews the literature, examines critically and summarises systematically the major pioneering works of contributors in this field. Its primary objective is to formulate a research agenda in the area of new service development (NSD) in the financial services sector.

A comprehensive in‐depth content analysis: theoretical discussion and conceptual frameworks of product innovation are carried out. This paper explores and evaluates extant frameworks of the tangible NPD process, which form the basis for NPD for the services literature. NSD has been central to the literature on services marketing, and a competitive weapon for firms, the important propensity has been related to the investigation of NSD issues.

This study identifies significant deficiencies and gaps (e.g. stakeholders involvement: roles of customers and supportive activities units) in the literature, with specific regard to new financial product development relating to the financial services sector.

This emerging approach to NPD suggests a new perspective on how to achieve NPD success in the financial services sector.

Managers and executives should strategically rethink the stakeholders’ roles, and the design and management of a NSD process. They should be aware of beneficial gains, which can be obtained from the process of stakeholder integration and involvement in NSD activities.

Provides a critical overview and analysis of theoretical perspectives on financial NSD /NPD with an annotated bibliographical reference covering the period between 1957 and 2005, which can help the advance of NSD research in the financial services sector. It also adds to the growing literature on the financial service innovation process.

Today’s financial service institutions have shifted from traditional face‐to‐face selling to direct marketing practices, including phone, mail, and computer technology. Consumer’s preferences toward face‐to‐face interaction versus direct means are empirically examined across 15 different financial products and services. A significant variation was found in consumer preferences across different financial products and services, and the profiles of consumers are developed based on their preferences. Implications are drawn for developing customer‐oriented marketing strategies, acknowledging customers’ differences in their preferences toward human interaction and self‐service technology.

The impact of developments in information technology upon the range of products which can be profitably marketed by financial services firms is here considered. Underlying the analysis is a conception of financial institutions such as banks as marketing inter‐mediaries, providing information and distributive services along with the financial products. Two routes are compared which are used by financial institutions to provide an expanded range of financial services: joint ventures and the financial supermarket. The strengths and weaknesses of both are examined.

This study aims to provide an in-depth understanding of investors’ cognition and decision-making process with regard to internet financial products. The objective is to effectively guide users’ rational investments.

First, based on grounded theory, this study develops a tool for measuring users’ perceived value (PV) of internet financial products via in-depth interviews. Then, after comprehensively considering users’ environmental, individual and psychological characteristics, this study proposes a theoretical model of internet financial product investment decisions based on the PV of users. Finally, an empirical study is conducted on 693 valid sample data from e-commerce and online banking financial platforms.

The empirical results suggest that network externalities influence users’ financial behavior by herding (HE) (imitating others and discounting their own information) and PV. PV and HE are key factors in users’ investment decisions with regard to internet financial products. Moreover, users’ self-efficacy (SE) and platform type play moderate roles in the influence mechanism.

The research conclusions provide valuable references for designing financial products and establishing regulatory rules, which will help the internet financial industry to grow soundly and innovatively.

This study uncovers the mediating effect of HE and PV between network externalities and users’ investment intentions in the context of internet financial products. In addition, the moderating effect of users’ SE and platform types is revealed.

Within the UK, low levels of saving has been a continuing policy concern for both government and financial regulators. Why individuals save less than might be expected has been increasingly associated with an inability of ma… financial services consumers to comprehend product quality and to underta… of firms in this debated through examining the product choices presented to consumers by financial services providers.

We examine two aspects of poor consumer decision making, yet to be fully explored in the wider regulatory literature. Initially, we review how financial services providers consider product innovations and the marketing strategies they pursue in constructing their offerings to consumers. Secondly, we ass… a popular financial product, the interest bearing deposit account, to examine what savings product choices are actually presented to consumers. These areas are explored through semi‐structured interviews undertaken with semi financial services managers and through a review of the entire product offerings to the interest bearing deposit market.

We report that savings markets are characterised by high product turnover and short duration. Consumers in the UK, alike many developed nations, and often unfamiliar with, and lack confidence when, buying savings products. Example consumers often have difficulties when making product comparis… Faced by so much proliferation of undifferentiated products, consumers find difficult to make a straightforward comparison between products.

It is concluded that further public education, a greater understanding of ho… firms present product choices to consumers and how consumers perceive s… choices are areas demanding further research and consideration.

Consideration of how firms make decisions with regard to product innovation and savings problem more generally is an area demanding further investigation from a range of disciplinary approaches. Finally, given the perceived high importance of financial services to individuals and the nation… economy at large, some scrutiny should be placed on the issue of the high profitability of the financial services industry and how this is reflected into product innovations and, therefore, differentiated quality choices presented various categories of consumers.

An updated version of the original (1985) text, the book covers all aspects of marketing and selling bank services: the role of marketing; behaviour of customers; intelligence, planning and organisation; product decisions; promotion decisions; place decisions; price decisions; achieving sales. Application questions help to focus the readers' minds on key issues affecting practice.

This study aims at product development in Syariah banking, using the theory of Pyramid of Maslahah. Product development are important aspects of Islamic banking to realize Maqasid Al Shariah and to better serve the real economy.

To understand the needs of the customers, this study uses qualitative approaches and collects primary data from semi-structured interviews of 25 banking customers in Indonesia.

The study found that the group of respondents who have similar characteristics in age, marital status and number of kids tend to have similar financial needs. Some of the needs that have not been fulfilled by Sharia banking are the needs for investment in banking products, the needs for pension plan products and the needs for travelling-related financial products.

This study proposed that Islamic banking should provide financial products that cater to three needs of the society, including the needs for necessities/essentials (daruriyat), the needs of complementary requirements (hajiyyat) and the needs for beautifications or embellishments (tahsiniyat), to be able to better serve the real economy.

Financial needs and the life cycle approach can be used for product development in banking industry. However, this approach has not been widely used for consideration in the development of Sharia banking products in Indonesia. This study provides some novelty in Islamic banking customer behavior, especially in understanding financial needs based on the theory of Pyramid of Maslahah.