| Title: | A tool for detecting neobanking users |
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| Authors: | ID Amon, Aleksandra (Author)
ID Jagrič, Timotej (Author) |
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| Files: |  https://www.mdpi.com/2227-7072/13/2/51
 A_Tool_for_Detecting_Neobanking_Users.pdf (1,08 MB)
MD5: 99AD0D1CC6F2BF8F3BF81D93786AEB3C
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| Language: | English |
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| Work type: | Scientific work |
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| Typology: | 1.01 - Original Scientific Article |
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| Organization: | EPF - Faculty of Business and Economics
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| Abstract: | The banking sector is experiencing significant disruption due to technological advancements and evolving customer demand. This study analysed over 2000 banking and/or neobanking users across 28 countries. A multinomial logit model was applied to examine three user characteristics groups: demographics, banking habits, and neobanking habits. Several interesting effects were found. Higher-educated and single users are more likely to use neobanks, while self-employed and lower-income users are less likely. Neobank users prioritize affordability, availability, and speed, while traditional bank users prioritize stability and personal interaction. We have developed a tool to identify clients likely to leave traditional banks, fully or partially, with high reliability. Even partial outflows mean banks lose important services generating significant revenue to competitors. A crucial factor here is the single banking market, which eases switching between banks. Neobanks further reduce barriers, enhancing customer mobility. Moreover, opening an account with a neobank takes only minutes. The findings of this study provide valuable insights for banks and neobanks, allowing for a more comprehensive understanding of users’ characteristics that reflects current customer demand and enables new strategies to better address them. |
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| Keywords: | traditional banks, neobanks, users, characteristics, demand |
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| Publication status: | Published |
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| Publication version: | Version of Record |
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| Submitted for review: | 24.01.2025 |
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| Article acceptance date: | 04.03.2025 |
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| Publication date: | 01.04.2025 |
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| Publisher: | MDPI AG |
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| Year of publishing: | 2025 |
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| Number of pages: | str. 1-18, art. 51 |
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| Numbering: | Vol. 13, issue 2 |
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| PID: | 20.500.12556/DKUM-92814  |
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| UDC: | 336.71 |
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| ISSN on article: | 2227-7072 |
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| COBISS.SI-ID: | 232203267 |
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| DOI: | 10.3390/ijfs13020051 |
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| Publication date in DKUM: | 04.07.2025 |
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| Views: | 142 |
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| Downloads: | 17 |
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| Metadata: |    |
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| Categories: | Misc.
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