The role of e-banking as a marketing tool

This study investigates the Millennials and Gen Z perception toward Fintech services, their usage intention, and their financial behavior. The study took place in the Palestinian context with a global comparison among these generations. The authors used the questionnaire-based technique to meet the study objective. West Bank respondents were selected for this purpose; the study instrument was distributed through different social media channels. The findings show that reliability/trust and ease of use are the main issues in using a financial service. Millennials are more aware (48%) of Fintech services than Gen Z (38%), which is different from the global view where Gen Z is the highest. The smartphone penetration rate is 100% among both generations, while the financial inclusion ratio in Palestine is around 36.4%; these clear indicators are the main Fintech drivers to promote Fintech services in Palestine, and these are global indicators for Fintech adoption intention. Both generations (84%) intend to use e-wallet services, Millennials (87%) and Gen Z is (70%) prefer using real-time services. Half of the respondents see that Fintech plays a complementary role with banks. The majority see that Fintech services are cheaper than bank services. Wealth management, and robot advisor services, and both generations are looking to acquire them in the long run. The authors revealed that 85% of respondents from both generations trust banks, so it is recommended that banks digitize their financial services to meet the customers’ needs, considering that 90% of respondents see that promotions are a key issue in adopting Fintech services. Promoting e-wallet services by banks is highly recommended due to the massive rivalry with Fintech parties.

A comprehensive study of the consumers’ needs and demands, the patterns of their social and cultural behavior are essential to the success of the modern luxury companies in their market activity. The purpose of research is to study the possible differences and similarities in the perception of luxury and motivation to purchase these goods by consumers in different parts of the world and selection of acceptable marketing tools. The study is built on the results of analysis of cultural values in some countries using the country comparison tool developed by Hofstede and the results of analysis of scientific articles on the behavior of luxury goods consumers in different countries. The methodology approach – Hofstede’s model of national culture and scientific studies belonging to cultural impacts on luxury consumers’ behavior – is applied to explore cross-cultural differences in luxury consumption behavior. The findings of the study are as follows: consumers from countries with high power distance, collectivism, and masculinity, long-term orientation, and low indulgence primarily perceive social values in consuming luxury goods and are sensitive to conspicuous luxury-status. In cultures with high individualism, masculinity, indulgence, and low power distance, consumers display to perceive individual and functional values and are sensitive to “emotional hedonistic luxury.” The consumption of luxury goods in the Asian region is characterized by significant focusing on social values and status consumption, more than in the rest of the world. The motives of achievements in the form of self-realization and self-actualization are among the main reasons for the luxury consumption of European Union consumers.

The facilitation of economic transactions and friendly investor environment is undertaken through effective performance of financial systems. Mobilization of savings and funding the profitable business opportunities are essential in improving the efficiency of intermediation. The study aims to evaluate the effects of nationalization and privatization on Indian banks. Various factors have been considered to examine the effects of privatization and nationalization, including sources of public sector inefficiency, measures of firm performance, econometric issues, and the mode of privatization. The data was collected for the period of 1998 to 2016 from Indian banks. Data Envelopment Analysis (DEA) was used to evaluate the financial reports of the banks selected to evaluate the efficiency of input and output variables. Positive results were observed, concerning the efficiency and profitability of banking industry after banks’ privatization. Performance of private banks has been observed effective and efficient as compared to the public sector banks. Privatization of banks must be increased and maintained to sustain the efficiency of the banks and implement strategies to maintain the assets. Future studies may recruit more appropriate sample size to evaluate the privatization and nationalization effects of Indian banking industry. Greater number of banks will provide more precise results, using data envelopment analysis.