AN EXAMINATION OF THE FACTORS SHAPING CONSUMERS' BANKING SERVICE PREFERENCES IN DIGITALIZATION PROCESS

Abstract

With a focus on banking services specifically, this study attempts to investigate the variables influencing consumers' choices for services during the digitalization process. A review of the literature was done for this purpose, and the data gathered was arranged and given as a summary of the literature. Within the scope of the research, firstly, the factors shaping consumers' digital banking service preference were discussed in a general framework, subsequently the subject was detailed around the determined headings. In this context, the subject is discussed in terms of search, experience and credence properties of service products, perceived risk, privacy, and security concern (and privacy paradox) and consumer characteristics, suggestions for future research are presented in the conclusion section. With the goal of addressing the consumer's service choice in the digitalization process with a holistic approach and current concepts, particularly for financial services, it is assessed that the study will provide a distinctive contribution. The study is the product of a comprehensive literature review; therefore care was taken to ensure that the elements identified were comprehensive, both in terms of digital services in general and in banking services in particular. However, it is possible to talk about different factors that are likely to shape consumer behavior in the digitalization process and are beyond the scope of this study. In addition, the rapid change and transformation environment caused by digitalization brings with it the need to constantly address the issue with new research.