Janin Karoli Hentzen, Arvid Hoffmann, Rebecca Dolan and Erol Pala
The objective of this study is to provide a systematic review of the literature on artificial intelligence (AI) in customer-facing financial services, providing an overview of…
Abstract
Purpose
The objective of this study is to provide a systematic review of the literature on artificial intelligence (AI) in customer-facing financial services, providing an overview of explored contexts and research foci, identifying gaps in the literature and setting a comprehensive agenda for future research.
Design/methodology/approach
Combining database (i.e. Scopus, Web of Science, EBSCO, ScienceDirect) and manual journal search, the authors identify 90 articles published in Australian Business Deans Council (ABDC) journals for investigation, using the TCCM (Theory, Context, Characteristics and Methodology) framework.
Findings
The results indicate a split between data-driven and theory-driven research, with most studies either adopting an experimental research design focused on testing the accuracy and performance of AI algorithms to assist with credit scoring or investigating AI consumer adoption behaviors in a banking context. The authors call for more research building overarching theories or extending existing theoretical perspectives, such as actor networks. More empirical research is required, especially focusing on consumers' financial behaviors as well as the role of regulation, ethics and policy concerned with AI in financial service contexts, such as insurance or pensions.
Research limitations/implications
The review focuses on AI in customer-facing financial services. Future work may want to investigate back-office and operations contexts.
Originality/value
The authors are the first to systematically synthesize the literature on the use of AI in customer-facing financial services, offering a valuable agenda for future research.
Details
Keywords
Max Sim, Jodie Conduit, Carolin Plewa and Janin Karoli Hentzen
While businesses seek to engage customers, their efforts are often met with varied results, as some customers are more predisposed to engage than others. Understanding customers’…
Abstract
Purpose
While businesses seek to engage customers, their efforts are often met with varied results, as some customers are more predisposed to engage than others. Understanding customers’ dispositions to engage is central to understanding customer engagement, yet research examining customer engagement dispositions remains sparse and predominantly focused on personality traits. This paper aims to consider the general nature of a disposition and draws on qualitative findings to depict a framework for customer engagement dispositions.
Design/methodology/approach
To investigate customer engagement dispositions comprehensively and in-depth, an exploratory qualitative approach was adopted. In total, 20 semi-structured in-depth interviews were conducted with customers in ongoing relationships with financial planners residing in Australia.
Findings
Nine attributes reflecting customer engagement dispositions emerge from the data. These include the customer’s internal tendency to engage (confidence, desire for control, extroversion and enthusiasm); a tendency to engage determined in the interaction with the service provider (sense of similarity, sense of social connection and trust in the service provider); and the capacity to engage (expertise and knowledge and time availability).
Research limitations/implications
This study provides a conceptual foundation for future empirical measurement of customer engagement dispositions and their nomological network.
Practical implications
This study establishes a foundation for managers to build distinct engagement disposition profiles and segments and target initiatives to maximize engagement activity.
Originality/value
This research challenges the view of customer engagement dispositions as largely personality factors, or exclusively cognitive and emotional dimensions of engagement, and offers a comprehensive framework reflecting a customer’s disposition to engage with a service provider.