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Blockchain-Enabled Banking Services and Customers’ Perceived Financial Well-Being: A Structural Nexus

In: Advances in National Brand and Private Label Marketing

Author

Listed:
  • Maya F. Farah

    (Lebanese American University)

  • Muhammad Naveed

    (University of South Asia)

  • Shoaib Ali

    (Air University)

Abstract

Grounded in Transformative Service Research (TSR), this study aims to examine the mechanism by which blockchain-enabled banking determines customers perceived financial well-being (FW). We conclude that blockchain features augment information transparency, which in turn determines customers perceived financial well-being. Data was collected through a survey filled by 283 individuals having bank accounts. The contextual setting of the study was provided by commercial banks operating in Pakistan. The primary data was analyzed through PLS-SEM to explore the direct and indirect relationships among blockchain features (efficiency, security, and regulatory compliance), perceived information transparency, and perceived financial well-being. The evidence points to the fact that: (1) Blockchain features are significant in determining customers’ financial well-being; (2) Information transparency mediates the relationship between these features and customers perceived financial well-being; hence, that (3) Bank managers who embrace the challenging task of improving the perceived financial well-being of their customers, should adopt blockchain technology to enhance information transparency, and accordingly to augment the customers’ financial well-being.

Suggested Citation

  • Maya F. Farah & Muhammad Naveed & Shoaib Ali, 2023. "Blockchain-Enabled Banking Services and Customers’ Perceived Financial Well-Being: A Structural Nexus," Springer Proceedings in Business and Economics, in: Juan Carlos Gázquez-Abad & Francisco J. Martínez-López & Katrijn Gielens (ed.), Advances in National Brand and Private Label Marketing, pages 41-49, Springer.
    • Handle: RePEc:spr:prbchp:978-3-031-32894-7_5
    DOI: 10.1007/978-3-031-32894-7_5
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