| Abstract [eng] |
Innovation is a critical part of every company’s existence. It is said that successful integration of innovations into company’s processes can provide competitive advantage and increase the profit. However, it is important to align novelty introduction to market demand, since customers are necessary in order to earn money. This is also true in banking sector. Nowadays, there isn’t much differentiation in services that commercial banks provide. It is difficult to compete on value or quality of the services, since most of the banks provide similar services and have similar fees. New service providers entering the market only increases the pressure. This is very beneficial to the customers, because banks have compete using other means in order to retain the clients and keep them satisfied. Value presented to the customer is one of the key parts of a successful commercial strategy. However, some innovations might be more beneficial to users than others. Because of this, it is important to study and measure what kind of banking innovations users are more likely to adopt, and to analyze in what other ways additional value could be presented to customers. The object of this thesis is banking innovation adoption in Lithuanian commercial banks. The purpose of this thesis is to study what innovations are well adopted by customers and why is that. This thesis aims to: review banking sector activities and current trends; analyze banking innovations and their aspects which could affect adoption; present a methodology for studying banking innovation adoption; study the factors of banking innovation adoption and identify the areas for improvement. The following study methods were used in this work: academic literature analysis, analysis of the results of the conducted survey, statistical and correlational analysis. In the survey, a set of 6 factors were analyzed: perceived ease of use, perceived usefulness, observability, perceived credibility, perceived risk and relative advantage. Questions included different topics, such as “Smart-ID”, contactless payments and mobile banking applications. The results of the study show that positive view to innovations correlates with tendency to use banking innovations. There were 6 groups of statements with which respondents had to agree or disagree. Groups of innovation adoption factors included: perceived ease of use, perceived usefulness, observability, perceived credibility, perceived risk and relative advantage. These factors were analyzed based on innovations such as Smart-ID, contactless payments and a mobile bank app. The main factor that inhibits adoption is perceived risk, because users are worried about the security of their account, about losing money in case of lost or stolen bank card or mobile phone, and they are also concerned about the possibility of having malware and spyware programs on their mobile phones. Another area for improvement is perceived credibility, because most of the respondents don’t have a clear opinion about this topic, or as shown by weighted averages, have a negative one. There was found a slight but statistically significant relation between the age of the respondents and the innovation adoption. However, no such relation was found when analyzing sex or education of the respondents. The analysis of respondents who never or rarely use bank innovation allows us to make recommendations and identify areas for improvement. |
