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Privacy frontiers in customers’ relations with banks

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  • Piotrowski Dariusz

    (1 Department of Financial Management, Faculty of Economic Sciences and Management, Nicolaus Copernicus University, ul. Gagarina 13a, 87-100, Toruń, Poland)

Abstract

The widespread use of digital technologies in banking allows banks to obtain and analyse huge amounts of data from different communication channels. While this phenomenon is conducive to improving the quality of services it also increases the risk of privacy breaches. The aim of this study is to identify what factors determine consumer acceptance of banks’ use of public access personal data found on social media accounts. The results indicate the importance of the financial incentive and consumers’ assessment of banks’ information activities regarding the processing of personal data. Determinants relating to the technological sophistication of respondents were also found to be significant, with a particular focus on the ethical evaluation of decisions made by Artificial Intelligence algorithms. The results of the work may be used by banks in practice to adapt the area of personal data management to the requirements of e-privacy and Trustworthy Artificial Intelligence.

Suggested Citation

  • Piotrowski Dariusz, 2023. "Privacy frontiers in customers’ relations with banks," Economics and Business Review, Sciendo, vol. 9(1), pages 119-141, April.
    • Handle: RePEc:vrs:ecobur:v:9:y:2023:i:1:p:119-141:n:3
    DOI: 10.18559/ebr.2023.1.5
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    References listed on IDEAS

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    More about this item

    Keywords

    privacy; personal data processing; Artificial Intelligence; banking ethics; social media;
    All these keywords.

    JEL classification:

    • A13 - General Economics and Teaching - - General Economics - - - Relation of Economics to Social Values
    • G21 - Financial Economics - - Financial Institutions and Services - - - Banks; Other Depository Institutions; Micro Finance Institutions; Mortgages
    • O33 - Economic Development, Innovation, Technological Change, and Growth - - Innovation; Research and Development; Technological Change; Intellectual Property Rights - - - Technological Change: Choices and Consequences; Diffusion Processes

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