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Digital Challenger Banks, A New Wave of Banking: A qualitative Study into Switching Costs
Linnaeus University, School of Business and Economics, Department of Marketing.
Linnaeus University, School of Business and Economics, Department of Marketing.
Linnaeus University, School of Business and Economics, Department of Marketing.
2019 (English)Independent thesis Basic level (degree of Bachelor), 10 credits / 15 HE creditsStudent thesisAlternative title
Digital Challenger Banks, A New Wave of Banking : A qualitative Study into Switching Costs (English)
Abstract [en]

The purpose of this thesis is to explore the perception of switching cost in the context of Digital Challenger Banks (DCB) from a consumer’s point of view. Previous research on switching costs has been conducted in various service industries and clear concepts have been defined, although the terminology might vary. In essence the three broad switching costs are procedural, financial and relational. However, Digital Challenger Banks are a new wave of banking that are completely digital and have not been subjected to any exploration in regard to switching costs. This study is of exploratory and qualitative nature in order for new insights to be discovered and to get a deeper understanding of the underlying meaning behind consumers’ perceptions. Furthermore, it utilises the cross-sectional research design and semistructured interviews in the data collection process. In the findings a new conceptual model is suggested which highlight the procedural costs, namely economic risk as the most influential switching cost in relation to Digital Challenger Banks based on the perceptions of consumers followed by financial and lastly relational. Theoretically, this study contributes with two new potential items within procedural cost named ‘Previous Experiences’ and ‘Termination of Service, which could be of interest for future research. Results concluded in this thesis could have managerial implications for marketers working with traditional banks as well as DCB. 

Place, publisher, year, edition, pages
2019. , p. 80
National Category
Business Administration
Identifiers
URN: urn:nbn:se:lnu:diva-85371OAI: oai:DiVA.org:lnu-85371DiVA, id: diva2:1324921
Subject / course
Business Administration - Marketing
Educational program
Marketing Programme, 180 credits
Supervisors
Examiners
Available from: 2019-06-18 Created: 2019-06-14 Last updated: 2019-06-18Bibliographically approved

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CiteExportLink to record
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Citation style
  • apa
  • ieee
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  • de-DE
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