title: Reshaping the Financial Landscape : Contributions to Research on the Acceptance of Innovative Financial Services in Payment, Investment Management and Insurance
Creators: name: Reith, Riccardo
Publisher: name: University of Bayreuth
Year: 2020
Subjects: subject: Akzeptanzforschung
subject: Finanzinnovationen
subject: Digital Finance
subject: Strukturgleichungsmodelle
subject: Technologie Akzeptanzmodell
subject: 330

description: Digital megatrends and technological innovations have significantly changed the nature of the financial industry. The disruptive potential of financial innovations highly depends on societal demand and acceptance of consumers, which has been an essential research domain in the field of information systems. Hence, a deep and profound understanding of the consumers’ decision-making processes regarding their perception, attitudes and intentions to use financial information systems is of vital importance for theory and practice. The objective of this dissertation is therefore, on one side, to investigate factors that influence the potential consumers’ intention to use financial information systems, and on the other side to illustrate possibilities to accelerate the diffusion process of such innovations. Within the first chapter of this dissertation, the financial technologies under investigation are introduced and embedded into a definitional context of innovations. Afterwards, the Innovation Diffusion Theory as well as the proposed acceptance research models are introduced. The succeeding section summarizes the objective and structure of the dissertation and embeds the included research paper into a synoptic framework. The methodology section illustrates a summary of applied empirical methods in this dissertation, before the discussion concludes with highlighting the most striking results, their research implication and a demonstration of limitations and suggestions for future research. Research paper 1 and 2 deal with the acceptance of proximity mobile payment and enhance previous literature by embedding the aspects of security and privacy into established research models. Research paper 3 analyzes the acceptance of a novel approach in the sector of investment management by being the first study to develop and empirically validate an acceptance model in the context of social trading platforms. Research paper 4 addresses innovations regarding “connected insurance”, focusing on the acceptance of wearable fitness tracking devices in particular. In comparison to the first four research papers, research paper 5 focuses on the communication process regarding innovations and aims to identify potential consumers of novel technological products and services. The results of this dissertation indicate that consumers of financial innovations highly value the aspects of security and privacy in their decision-making processes throughout all the financial innovations under investigation. Most strikingly, the impact of perceived security (research paper 1 and 3) as well as privacy concerns (research paper 4) illustrated a high influence on the consumer’s intention to use financial innovations compared to effort-related costs, which have been the focus of established research models so far. Research paper 2 shows the importance of addressing privacy-related issues in marketing and identifies that innovative and technological-affine consumers demonstrate low privacy concerns. Herein, research paper 5 offers a novel approach of classifying technological early adopters and illustrates ways to reach potential technological early adopters online.