Traditional banking at digital age are they keeping up with changes in consumer behavior?: millennials’ perception in the portuguese market

• Autor(a) principal: Cahete, Jéssica Nazarina Miguel
• Data de Publicação: 2020
• Tipo de documento: Dissertação
• Idioma: eng
• Título da fonte: Repositório Científico de Acesso Aberto de Portugal (Repositórios Cientìficos)
• Texto Completo: http://hdl.handle.net/10071/22349
• topic: Millennials; Traditional banks; Fintech; Digital banks; Value creation; Banking experience; Bancos tradicionais; Bancos digitais; Criação de valor; Experiência Bancária

In a world of capitalism, competitiveness is definitely the market driven of an entire economy. Companies must to fairly compete against each other so we can have more production, best products/services quality, and above of all, customer satisfaction. This dissertation aims to analyze if the Traditional Banks are keeping up the race of digitalization against Digital Banks, to compare the customer value provided by these two type of Banks and identify which kind of bank provides more value to the Millennials Generation. After an extensive literature review of papers about traditional banks, Fintechs/Digital Banks and customer-based measurement methods we formulated our 8 main hypotheses. To test the validation of research question, an online survey was released and specific statistical test performed. In the end, the results of statistical T-test proved that Digital Banks provides more value to Millennials generation as the averages in almost all dimensions scored higher for respondents of Digital Banks comparing to responses from customers of Traditional Banks. This study provides solid implications for Traditional Banks Managers and Marketers as the studied dimensions can be useful to improve banking experience and retain Millennials. It also helps to enrich the existent literature of banking experience in the Portuguese Market as well as to provide some tools for its measurement.