Griffith Dissertations

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Browsing Griffith Dissertations by Author "Agboluaje, Eniola Aminat"

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    An Evaluation of Customer Adaptation and the Disruption of Financial Mobile Applications in the Republic of Ireland. A Case Study of Revolut Ireland.
    (Griffith College, 2023) Agboluaje, Eniola Aminat
    This research explores the use of neo-banks such as Revolut in Ireland. Given the increase in digital technology and banking, the rise of neo-banks and attendant technology as mobile financial apps has also increased. Revolut a neo bank operating for only eight years, boasts two million users in Ireland and over twenty million in the EU, a remarkable achievement compared to the time it took traditional banks to amass such a large user base. The rapid growth of Revolut and other neo banks highlights their ability to attract a substantial number of users in a relatively short period, revolutionizing the banking industry. The unprecedented rate by which customers in Ireland chose neo-banks as Revolut demands empirical investigation, thus investigating why customers preferred neo-banks, the societal implications of neo-bank adoption and the challenges customers faced while patronising neo-banks, especially when using mobile financial apps. This research, therefore, investigates the adoption of neo-banks in Ireland and why customers consider neo-banks as the best alternative to banking. The research adopts a quantitative methodology, which collects data from questionnaires. Questionnaires were drafted via Google Forms; respondents were mainly millennials. 87 respondents filled out the questionnaire, and analysis was done via SPSS. Major findings of the research reveal that customers in Ireland adopt neo-banks like Revolut, including; the desire to experience new financial services using applications, the crucial role technology plays, the ability to switch to another bank based on requirements, and trust in financial mobile applications organisations. The research also reveals that the challenges consumers faced while using applications such as Revolut were app and software issues which led to glitches, delays and app shutdown. Therefore, the research recommends that neo-banks improve their apps through proper app development. Apps should be fortified using several firewalls to ensure security and seamless use by customers. This will create a more positive experience for customers
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