Self-service technology and online financial service choice

Xin Ding, Rohit Verma, Zafar Iqbal

Research output: Contribution to journalArticle

67 Citations (Scopus)

Abstract

Purpose - The application of self-service technology in transaction-based e-service (e.g. online financial services) creates a challenge for firms: what combination of features should they offer to satisfy needs from different customer segments? This paper seeks to address the above question by highlighting similarities and differences of consumer preferences among self-service, hybrid service and professional service segments for online financial services. Design/methodology/approach - This study employs a web-based discrete choice experiment, in which 1,319 consumers were offered different account alternatives, which include features for self-service and professional assistance, price per transaction, and promotion offers. Findings - The results demonstrate that overall, consumer preferences for features of online financial services differ across segments. Moreover, with the variation in the strength of self-reliance, interesting trends regarding the relative importance of features are observed. With the given customer segments, this study also identifies several demographic features with significant effects on the choice of service alternatives through a multinomial logistic model. Originality/value - The authors believe that these results have both managerial and research implications for design and operations strategy formulation for online financial services.

Original languageEnglish (US)
Pages (from-to)246-268
Number of pages23
JournalInternational Journal of Service Industry Management
Volume18
Issue number3
DOIs
StatePublished - Jun 21 2007

Fingerprint

Logistics
Experiments
Financial services
Self-service technology
Consumer preferences
E-services
Demographics
Design methodology
Web-based
Logistic model
Strategy formulation
Operations strategy
Professional services
Relative importance
Self-reliance
Discrete choice experiment

All Science Journal Classification (ASJC) codes

  • Business, Management and Accounting(all)
  • Strategy and Management
  • Management of Technology and Innovation

Cite this

Ding, Xin ; Verma, Rohit ; Iqbal, Zafar. / Self-service technology and online financial service choice. In: International Journal of Service Industry Management. 2007 ; Vol. 18, No. 3. pp. 246-268.
@article{0eb44bed60d2494796300325f937f9c9,
title = "Self-service technology and online financial service choice",
abstract = "Purpose - The application of self-service technology in transaction-based e-service (e.g. online financial services) creates a challenge for firms: what combination of features should they offer to satisfy needs from different customer segments? This paper seeks to address the above question by highlighting similarities and differences of consumer preferences among self-service, hybrid service and professional service segments for online financial services. Design/methodology/approach - This study employs a web-based discrete choice experiment, in which 1,319 consumers were offered different account alternatives, which include features for self-service and professional assistance, price per transaction, and promotion offers. Findings - The results demonstrate that overall, consumer preferences for features of online financial services differ across segments. Moreover, with the variation in the strength of self-reliance, interesting trends regarding the relative importance of features are observed. With the given customer segments, this study also identifies several demographic features with significant effects on the choice of service alternatives through a multinomial logistic model. Originality/value - The authors believe that these results have both managerial and research implications for design and operations strategy formulation for online financial services.",
author = "Xin Ding and Rohit Verma and Zafar Iqbal",
year = "2007",
month = "6",
day = "21",
doi = "10.1108/09564230710751479",
language = "English (US)",
volume = "18",
pages = "246--268",
journal = "International Journal of Service Industry Management",
issn = "0956-4233",
publisher = "MCB University Press",
number = "3",

}

Self-service technology and online financial service choice. / Ding, Xin; Verma, Rohit; Iqbal, Zafar.

In: International Journal of Service Industry Management, Vol. 18, No. 3, 21.06.2007, p. 246-268.

Research output: Contribution to journalArticle

TY - JOUR

T1 - Self-service technology and online financial service choice

AU - Ding, Xin

AU - Verma, Rohit

AU - Iqbal, Zafar

PY - 2007/6/21

Y1 - 2007/6/21

N2 - Purpose - The application of self-service technology in transaction-based e-service (e.g. online financial services) creates a challenge for firms: what combination of features should they offer to satisfy needs from different customer segments? This paper seeks to address the above question by highlighting similarities and differences of consumer preferences among self-service, hybrid service and professional service segments for online financial services. Design/methodology/approach - This study employs a web-based discrete choice experiment, in which 1,319 consumers were offered different account alternatives, which include features for self-service and professional assistance, price per transaction, and promotion offers. Findings - The results demonstrate that overall, consumer preferences for features of online financial services differ across segments. Moreover, with the variation in the strength of self-reliance, interesting trends regarding the relative importance of features are observed. With the given customer segments, this study also identifies several demographic features with significant effects on the choice of service alternatives through a multinomial logistic model. Originality/value - The authors believe that these results have both managerial and research implications for design and operations strategy formulation for online financial services.

AB - Purpose - The application of self-service technology in transaction-based e-service (e.g. online financial services) creates a challenge for firms: what combination of features should they offer to satisfy needs from different customer segments? This paper seeks to address the above question by highlighting similarities and differences of consumer preferences among self-service, hybrid service and professional service segments for online financial services. Design/methodology/approach - This study employs a web-based discrete choice experiment, in which 1,319 consumers were offered different account alternatives, which include features for self-service and professional assistance, price per transaction, and promotion offers. Findings - The results demonstrate that overall, consumer preferences for features of online financial services differ across segments. Moreover, with the variation in the strength of self-reliance, interesting trends regarding the relative importance of features are observed. With the given customer segments, this study also identifies several demographic features with significant effects on the choice of service alternatives through a multinomial logistic model. Originality/value - The authors believe that these results have both managerial and research implications for design and operations strategy formulation for online financial services.

UR - http://www.scopus.com/inward/record.url?scp=34250363191&partnerID=8YFLogxK

UR - http://www.scopus.com/inward/citedby.url?scp=34250363191&partnerID=8YFLogxK

U2 - 10.1108/09564230710751479

DO - 10.1108/09564230710751479

M3 - Article

AN - SCOPUS:34250363191

VL - 18

SP - 246

EP - 268

JO - International Journal of Service Industry Management

JF - International Journal of Service Industry Management

SN - 0956-4233

IS - 3

ER -