The Accessibility of Digital Banking Services to 18-26-Year-Olds
Aaltola, Max; Vaheri, Satu (2019)
Aaltola, Max
Vaheri, Satu
2019
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Julkaisun pysyvä osoite on
https://urn.fi/URN:NBN:fi:amk-2019121025775
https://urn.fi/URN:NBN:fi:amk-2019121025775
Tiivistelmä
Through new regulatory changes like PSD2-directive, the competition in financial sectors is rapidly increasing. The competition forces banks to fulfill the needs of their current customers. In order to sustain competitiveness in the current situation digitalization, custom-er-oriented views and reaching out to the young customers are at key. The aim of this study is to find out the best channel for the case company to market their digital banking services to 18-26-year-old customers.
The thesis is conducted deductively using both qualitative and quantitative research approaches. Primary data for the research was collected with an online survey shared online and to the researchers’ relatives and friends. Secondary data that was collected from various types of sources, including books, online sources and news media supports the primary data.
Theories used in the thesis include the 4P’s and 4C’s of marketing and marketing mix to gain a deeper understanding of the current marketing views. Also, basic functions of the financial sector and digitalization of the banking field are presented. Since the topic is broad, it has been limited to focus on younger customers.
The results of the research show that the best channels for banks to contact younger customers are digital ones, especially mobile and online banking. Social media with friends and family also show great potential and are valued as the most trustworthy channels. Young customers do not seem to show interest in traditional media, such as television, radio or outdoor marketing. Traditional marketing is seen as easily ignorable.
The thesis is conducted deductively using both qualitative and quantitative research approaches. Primary data for the research was collected with an online survey shared online and to the researchers’ relatives and friends. Secondary data that was collected from various types of sources, including books, online sources and news media supports the primary data.
Theories used in the thesis include the 4P’s and 4C’s of marketing and marketing mix to gain a deeper understanding of the current marketing views. Also, basic functions of the financial sector and digitalization of the banking field are presented. Since the topic is broad, it has been limited to focus on younger customers.
The results of the research show that the best channels for banks to contact younger customers are digital ones, especially mobile and online banking. Social media with friends and family also show great potential and are valued as the most trustworthy channels. Young customers do not seem to show interest in traditional media, such as television, radio or outdoor marketing. Traditional marketing is seen as easily ignorable.