Influence of Schadenfreude & Trust Among Indians for Digital Banking Products

Abstract

The paper explores the use of Information, Communication & Technology (ICT) to leverage  use of digital platforms in the backdrop of social, mobile, analytics and cloud developments (SMAC) to perform banking and financial transactions that is  heralding the growth of adoption of digital banking initiatives in an inclusive manner across the Indian market fraught with volatility, uncertainty, complexities of operations and processes and uncertainty of environmental factors (VUCA).  Descriptive research design for surveying respondents has been utilized for the study and the empirical results of the study highlights the factors that influence the use of digital banking products among Indians. Three distinctive factors and segments of banking customers are identified basis the influence of schadenfreude on digital banking products usage. The study contributes in providing the framework for a theoretical model depicting the relationship of schadenfreude, demographic factors and other influences among Indians for digital banking customers.    

Keywords: Banking, Cashless Economy, Digital Banking, Financial Transactions, Fintech, Inclusive Banking, ICT, Indian Consumer, Internet Banking, Mobile Banking, Money Laundering, Payment & Settlement Systems, Payment Apps, Schadenfreude, VUCA.