Fintech revolution and traditional banks - what factors influence members of generation Z to place their trust in Fintech companies, specifically neobanks, over traditional banks as banking and financial service providers? :  a case study on the banking application of the Swiss neobank Yuh

Nocera, Gloria

doi:10.21256/zhaw-26510

Please use this identifier to cite or link to this item: https://doi.org/10.21256/zhaw-26510

Publication type:	Bachelor thesis
Title:	Fintech revolution and traditional banks - what factors influence members of generation Z to place their trust in Fintech companies, specifically neobanks, over traditional banks as banking and financial service providers? : a case study on the banking application of the Swiss neobank Yuh
Authors:	Nocera, Gloria
Advisors / Reviewers:	Künzle, Christoph
DOI:	10.21256/zhaw-26510
Extent:	130
Issue Date:	2022
Publisher / Ed. Institution:	ZHAW Zürcher Hochschule für Angewandte Wissenschaften
Publisher / Ed. Institution:	Winterthur
Language:	English
Subject (DDC):	332.1: Banks
Abstract:	The digitalization of financial services in combination with declining trust in traditional financial institutions, mainly due to the 2008 financial crisis, has enabled the emergence of new players offering services that were initially the domain of banks. Traditional banks have long been major players in the financial industry, and the number of potential competitors has been rather limited, as it has been quite challenging new providers to enter the sector due to the severe regulatory framework. However, in the last decade, a new form of competitor has emerged that represents a serious threat to the traditional banking model and is revolutionizing the entire banking sector. The competitors are the so-called fintech companies. While traditional banks have sought innovation exclusively in new financial instruments and thus have missed the expansion of modern IT infrastructure, fintech companies have taken advantage of consumer mistrust in banks and offered new, technology-based products to technology-savvy customers. In Switzerland, the number of users opting for the services of their competitors, namely fintechs, has increased from an average of 30% in 2017 to 64% in 2019. In addition, the younger generation, especially Generation Z, is the biggest demand driver, and this trend is likely to continue in the coming years. Furthermore, loss of trust has a negative impact on profitability and customer loyalty, thus posing a major threat to traditional banks (Fintech Futures, 2019, December 25). For this reason, it is important to understand how incumbents can recover trust and appeal to the younger generation. A literature review served as the basis for this work, establishing a theoretical foundation and framing the topic under study. The literature review was followed by the description of a case study on the Swiss neobank Yuh’s banking application using a mixed methods approach in an explanatory sequential design. Yuh is a neobank, that is, a fintech company that operates with a banking license in Switzerland. Through a quantitative analysis of Generation Z in Switzerland using the Swiss neobank Yuh as an example and a qualitative analysis with the CEO of Yuh, many of the findings from the literature review were confirmed and new insights were presented. Finally, recommendations to traditional Swiss banks were provided.
URI:	https://digitalcollection.zhaw.ch/handle/11475/26510
License (according to publishing contract):	CC BY-NC-ND 4.0: Attribution - Non commercial - No derivatives 4.0 International
Departement:	School of Management and Law
Appears in collections:	BSc Betriebsökonomie

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Nocera, G. (2022). Fintech revolution and traditional banks - what factors influence members of generation Z to place their trust in Fintech companies, specifically neobanks, over traditional banks as banking and financial service providers? : a case study on the banking application of the Swiss neobank Yuh [Bachelor’s thesis, ZHAW Zürcher Hochschule für Angewandte Wissenschaften]. https://doi.org/10.21256/zhaw-26510

Nocera, G. (2022) Fintech revolution and traditional banks - what factors influence members of generation Z to place their trust in Fintech companies, specifically neobanks, over traditional banks as banking and financial service providers? : a case study on the banking application of the Swiss neobank Yuh. Bachelor’s thesis. ZHAW Zürcher Hochschule für Angewandte Wissenschaften. Available at: https://doi.org/10.21256/zhaw-26510.

G. Nocera, “Fintech revolution and traditional banks - what factors influence members of generation Z to place their trust in Fintech companies, specifically neobanks, over traditional banks as banking and financial service providers? : a case study on the banking application of the Swiss neobank Yuh,” Bachelor’s thesis, ZHAW Zürcher Hochschule für Angewandte Wissenschaften, Winterthur, 2022. doi: 10.21256/zhaw-26510.

NOCERA, Gloria, 2022. Fintech revolution and traditional banks - what factors influence members of generation Z to place their trust in Fintech companies, specifically neobanks, over traditional banks as banking and financial service providers? : a case study on the banking application of the Swiss neobank Yuh. Bachelor’s thesis. Winterthur: ZHAW Zürcher Hochschule für Angewandte Wissenschaften

Nocera, Gloria. 2022. “Fintech Revolution and Traditional Banks - What Factors Influence Members of Generation Z to Place Their Trust in Fintech Companies, Specifically Neobanks, over Traditional Banks as Banking and Financial Service Providers? : A Case Study on the Banking Application of the Swiss Neobank Yuh.” Bachelor’s thesis, Winterthur: ZHAW Zürcher Hochschule für Angewandte Wissenschaften. https://doi.org/10.21256/zhaw-26510.

Nocera, Gloria. Fintech Revolution and Traditional Banks - What Factors Influence Members of Generation Z to Place Their Trust in Fintech Companies, Specifically Neobanks, over Traditional Banks as Banking and Financial Service Providers? : A Case Study on the Banking Application of the Swiss Neobank Yuh. ZHAW Zürcher Hochschule für Angewandte Wissenschaften, 2022, https://doi.org/10.21256/zhaw-26510.