Marko van Deventer

Mobile banking represents an important addition to retail banks’ digital banking channels and a salient tool for servicing both current and future customers. However, given the cybernetic nature of mobile banking, there is a certain degree of uncertainty and perceived risk associated with the use thereof. This uncertainty and perceived risk elevate the importance of trust in fostering mobile banking adoption. The Generation Y cohort, which encompasses today’s youth, represents an important current and future banking segment and their adoption of mobile banking channels could have a significant effect on the cost of servicing members of this cohort. Understanding the factors that positively contribute to the Generation Y cohort’s trust in mobile banking will help retail banks to better market their mobile banking channels to members of this cohort and thereby foster greater adoption of such channels. The study reported in this article considers the influence of the perceived integrity of the bank and the perceived system quality of mobile banking on Generation Y students’ perceived trust in mobile banking in the South African context. Data were gathered from a convenience sample of 334 students registered at three public South African university campuses using a self-administered questionnaire. The gathered data were analyzed using descriptive statistics, correlation analysis and bivariate regression analysis. The results of the study suggest that Generation Y students’ perceived integrity of a bank, together with the perceived system quality of mobile banking, has a significant positive influence on their perceived trust in mobile banking.

Despite the benefits that mobile banking has to offer, coupled with positive mobile penetration rates, the use of mobile devices to perform banking transactions and access financial information is not as widespread as expected. The significantly sized Generation Y cohort is a rewarding market segment for retail banks. In South Africa, however, this cohort’s mobile banking adoption is largely under-researched. Understanding the antecedents that positively influence Generation Y students’ attitudes towards and usage behavior of mobile banking will assist retail banks in their efforts to tailor their business and marketing strategies effectively towards this cohort, and in doing so, foster increased acceptance of their mobile channels. As such, the purpose of this study was to extend the technology acceptance model (TAM) and determine the influence of perceived ease of use, relative advantage, subjective norms, perceived behavioral control, perceived integrity and the perceived system quality of mobile banking on South African Generation Y students’ attitudes towards and usage behavior of mobile banking. Following a descriptive research design, self-administered questionnaires were completed by a non-probability convenience sample of 334 students registered at the campuses of three registered public South African universities located in the Gauteng province. Data analysis included correlation analysis and structural equation modeling. The findings suggest that while perceived ease of use, perceived integrity and the perceived system quality predict Generation Y students’ mobile banking usage behavior, subjective norms, perceived behavioral control and the perceived relative advantage of mobile banking predict attitudes towards mobile banking, which, in turn, predict their mobile banking usage behavior.

Successful management of a retail bank’s brand requires some form of brand image, such as brand personality. Creating a retail bank’s brand personality is effective in establishing attachment between customers and the retail-banking brand they choose to support based on self-identification. As such, this study’s aim is to investigate the bank identification and perceived brand personality dimensions of retail banks among the profitable and significantly sized Generation Y banking market. For this study, a non-probability convenience sample of 300 Generation Y banking customers was used. A self-administered questionnaire was developed for data collection. The results of the study suggest that Generation Y customers perceive their chosen retail bank as successful, sophisticated, sincere, rugged, community driven and classic. Moreover, the results showed that the brand personality dimensions of community driven and successfulness are mostly related to the identification of Generation Y customers with their retail bank brand. Customers who easily identify with their retail bank brand bring financial benefits to the bank, as these customers remain loyal to the brand. The results provide insights that can help retail banks to better understand their current brand personality perceptions, which is important given that brand personality can improve bank brand identification among customers.

While marketing experts agree that brand personality is important for brand identification, there is no evidence of a validated brand-identification-and-personality scale in the context of retail banking in South Africa. To address this literature gap, this study’s purpose was to explain the process used to validate brand identification and personality within the retail-banking context of South Africa. A convenience sample of Generation Y banking consumers was selected, and a descriptive and single cross-sectional research design was followed. Self-administered questionnaires were used as a data collection tool and a sample size was chosen (N = 235). Data analysis entailed descriptive and confirmatory factor analysis. The confirmatory factor analysis results validated brand identification and brand personality in retail banking as a five-factor structure that includes bank identification and brand personality dimensions such as successfulness, sophistication, sincerity and ruggedness. Furthermore, the results of the study indicate the internal consistency and composite reliability of the measurement model, as well as construct, convergent, discriminant and nomological validity. In addition, the measurement model revealed no signs of multicollinearity between the factors, and the model fit index values of IFI, TLI, CFI, SRMR and RMSEA showed a good fitting model. This study concluded that this five-factor model is a reliable and valid instrument of brand identification and personality in retail banking and is the first validated brand-identification-and-personality scale within the retail-banking context of South Africa.

Mobile technology developments have altered the traditional financial services and retail banking sectors. Mobile banking is a popular and robust service delivery model, allowing consumers access to banking from anywhere and anytime. Irrespective of the benefits, usage intentions determine mobile banking success. As such, this paper attempts to test a structural model of the factors influencing mobile banking behavioral usage intention among a growing and essential segment of banking consumers, namely Generation Y. To this end, data were collected from a convenience sample of 334 South African Generation Y mobile banking consumers using a survey questionnaire. Using analysis of moment structures, the path analysis results indicated that perceived self-efficacy, behavioral control, structural assurance and trust have a statistically significant favorable influence on the target population’s mobile banking attitude, which, in turn, has a statistically significant positive effect on their mobile banking behavioral usage intention. In addition, all the model fit indices of this original and unique structural model were indicative of acceptable fit (IFI, TLI, CFI and NFI > 0.90). South African retail banks can use the study’s findings to add value to their mobile banking offering, especially when targeting the Generation Y banking cohort, which is believed to drive digital channels such as mobile banking.

Fashion leaders significantly contribute to an economy’s clothing segment, given their unique role in influencing fashion followers to purchase fashion clothing. Therefore, this study aimed to determine the factors that influence the sizeable and lucrative Generation Y male student cohort’s fashion leadership. The study conveniently sampled 400 Generation Y male students between 18 and 24 years old enrolled at two public South African higher education institutions. The study used a descriptive research design. A standardized self-administered questionnaire was used to collect the data. Data analysis included computing the descriptive statistics, the internal consistency reliability, the nomological validity, collinearity diagnostics, and multiple linear regression. The study results suggest that although product knowledge, fashion consciousness, mood enhancement, and brand switching behavior have a statistically significant favorable influence on Generation Y male students’ fashion leadership tendencies, decision-making confidence was not a statistically significant predictor. The study offers valuable insights that could assist marketing practitioners and fashion retail stores in understanding and better influencing the Generation Y male cohort’s fashion leadership. This, in turn, will aid them in rethinking and adapting their marketing endeavors to appeal to this market segment.

Literature suggests that achieving adequate customer loyalty is a significant determinant of growth and profitability. However, in South Africa, there is no evidence of a validated customer-loyalty-in-retail-banking scale. Thus, this study aimed to contribute to the literature by validating customer loyalty in retail banking as a six-factor structure comprising customer loyalty, service quality, customer commitment, trust, switching cost and customer satisfaction, which practitioners can use as a marketing guide to better understand customer loyalty. Data was collected from one sample only once, and the sample size was selected (N = 400). Descriptive and confirmatory factor analyses were undertaken to achieve the study’s objective. Confirmatory factor analysis results validated customer loyalty in retail banking as a six-factor structure that includes customer loyalty, service quality, customer commitment, trust, switching cost and customer satisfaction. The results show no serious multicollinearity between the latent factors and that acceptable internal-consistency reliability was returned for each factor. Moreover, the measurement model returned acceptable composite reliability together with construct, convergent and discriminant validity. Moreover, IFI, TLI, CFI, SRMR and RMSEA model fit index values suggest a good fitting model. Thus, the results concluded that this six-factor model is a reliable and valid instrument of customer loyalty in retail banking and is the first validated customer loyalty scale within the retail-banking context of South Africa. Retail banks are encouraged to use this instrument as a marketing guide in their quest to provide excellent banking services to their market segments, as well as build solid bank-customer relationships.

Customer loyalty and trust are key elements for the success of retail banking. For this reason, it is crucial to investigate the predictors of these elements. This study aims to model service quality, customer satisfaction, and commitment influencing customer loyalty and trust in South African retail banking. The target population is a growing banking customer segment – Generation Y. A sample of 271 Generation Y customers participated in the survey. Their responses were analyzed using AMOS, whereby a structural equation model was developed. Although the structural model suggests that service quality (β = 0.097; p = 0.175) is an insignificant predictor of customer loyalty in retail banking, the influence remains positive. Moreover, the model infers that customer satisfaction (β = 0.793; p = 0.001) predicts customer loyalty in retail banking and that customer satisfaction (β = 0.715; p = 0.001) and commitment (β = 0.257; p = 0.001) influence trust in retail banking. All the model fit indices (NFI = 0.95; RFI = 0.92; IFI = 0.97; TLI = 0.96; CFI = 0.97; RMSEA = 0.06; SRMR = 0.03) infer that the model is reliable, valid, and ultimately good fitting measurement tool of customer loyalty and trust in retail banking. The results provide insights into the most critical factors in building customer loyalty and trust among Generation Y customers in South African retail banking. Moreover, they can help to develop marketing and customer service strategies to improve these outcomes.

University websites are increasingly crucial in meeting the evolving digital demands of students. To effectively manage university websites, it is necessary to first determine students’ behavioral usage intentions of university websites and the factors that influence their intentions, which forms the purpose of this study. Data were collected at a single point in time and described the characteristics of the sample. This study, involving 319 Generation Y students registered at two South African university campuses (one traditional and one university of technology campus), utilizes structural equation modeling to explore the predictive relationships among information quality, system quality, playfulness, ease of use, trust, attitude, satisfaction, and behavioral intentions related to university website use. The study underscores the pivotal role of the university’s website in shaping student satisfaction, with information quality standing out as a significant positive influence. Additionally, playfulness significantly impacts both satisfaction and overall attitudes toward university websites. The system quality of the university website is also noteworthy, showing a statistically significant positive effect on ease of use and fostering trust among students. Furthermore, satisfaction is anticipated by ease of use, creating a cascade effect where satisfaction predicts trust and trust predicts attitudes. Ultimately, students’ attitudes emerge as a critical predictor for their behavioral intentions to use university websites. The model exhibits acceptable fit indices, demonstrating substantial explanatory power (SRMR = 0.1, RMSEA = 0.06, IFI = 0.94, TLI = 0.93, CFI = 0.94). These findings offer insights for university management and web designers to enhance online platforms, fostering student satisfaction, trust, and usage.

Personal financial management is important, given uncertainties in both financial and economic environment. However, published research on African Generation Y students’ personal finance behavior and knowledge is limited. This study aimed to evaluate African Generation Y students’ personal finance behavior in terms of their attitudes towards financial planning and whether this cohort believes that they have the skills to manage their finances successfully. In addition, this study sought to evaluate African Generation Y students’ knowledge regarding personal finance. A convenience sample of 500 African students across the campuses of two South African public higher education institutions situated in the Gauteng province was surveyed using structured, self-administered questionnaires. The t-test results indicate that the sample deems the process of planning personal finances and managing credit, insurance, investment, and estate, as important. Moreover, the students scored low in the broad personal finance knowledge areas of basic finance, saving, spending, and debt, suggesting that this cohort is financially illiterate. The results also indicated that the students think they have the financial skillset to manage their personal finances. A high Pearson’s correlation coefficient was noted between sampled participants’ personal finance behavior and their observed personal finance management skillset regarding the relationship between the constructs. However, an insignificant relationship was found between attitudes towards personal finance and financial knowledge and between financial knowledge and African Generation Y students’ apparent finance skills. Understanding African Generation Y students’ personal finance behavior and knowledge, universities and financial institutions can more effectively identify gaps and deficiencies in students’ personal finance endeavors.

Understanding how gender impacts millennial retail banking customers’ bank identification, as well as their perceptions of bank brand personalities, is important, given that retail banks need to effectively segment their markets and develop targeted marketing campaigns to engage and retain millennial customers. The paper aimed to investigate the differences between millennial male and female banking customers in terms of their identification with their retail bank and the brand personalities they associate with their bank. The research utilized a self-executed survey, collecting data from a sample comprising 116 males and 119 females for analysis in South Africa. Using a descriptive research design, the study employed several statistical methods, including independent samples t-tests and multiple linear regression analysis, to observe the potential differences between the genders in bank identity and perceived brand personality. The analysis of the survey data revealed significant differences between male and female participants. It was found that males identified less with their retail bank compared to females. In terms of brand personality, males associated more with the community-driven personality and less with the success, sophistication, and sincerity brand personalities. On the other hand, sophistication (β = 0.356; p = 0.003) and community-driven (β = 0.432; p = 0.002) brand personality influenced the males’ bank identification. None of the brand personalities significantly affected females’ bank identification.