Voluntary Insurance for Rapid Growth-trends of Transactions in E-Banking Service-Market: Seeking Policymakers’ Attentions in Greece Economy

Abstract

Digital-banking is an important product in today’s financial-sector country-wise where Greece is no different. Besides mobile-banking, bank-led digital-banking services are in today’s e-banking service-market. However, like in any other country, customers and probable customers here feel it to be risky including psychological risk. It has resulted in a slow growth trend of digital-banking transactions. Thus, adding Voluntary Insurance (VI) as a new product in digital-banking-services can ensure rapid growth-trends of transaction-numbers in digital-banking service-market in Greece-economy. This new & increasing value is what will keep banks be growing, which can ensure risk-free digital banking in Greece-economy. Historical trends of economic growth-trends of Greece ratify that addition of a new legal product will improve society beyond just immediate gratification of consumers. Once the VI is in place, it will spread from bankers to customers and its growth-trend (S-curve) will capture the growth of revenue against time. Over time, it will ensure Greeks to be cashless society soon. It can set an example to European countries and beyond, which may inspire them following Greek’s footstep. The goal of this study is to bring the VI-proposal to policymakers and management’s attentions in Greek-economy for the greater interest of the Greek-society.