Shaping the digital transformation of the retail banking industry. Empirical evidence from Italy

Filotto, Umberto; Caratelli, Massimo; Fornezza, Fabrizio

Although numerous studies have investigated the determinants of users’ acceptance of online channels, little attention has been paid to the continuous usage of a direct bank. To address this research gap, we analysed data collected via semi-structured interviews and a survey questionnaire distributed in 2017 to a sample of Italian bank customers. Responses were evaluated using a different statistical methodology based on the Shapley Value regression analysis. In brief, user-friendliness and economic advantages appear to be more decisive at an early stage of adoption. Moreover, structural assurance mechanisms (e.g. clarifying security policies and guarantees) have a robust impact on keeping customers online and loyal to electronic channels. Surprisingly, accessibility and compatibility do not seem to be determinant factors.