A Structural Equation Model for Emerging Needs and Changing Role of Social Media Usage as Financial Service Platform

  • Authors

    • Prof. Shrikant Waghulkar Prof.Shrikant Waghulkar,Assistant Professor,Balaji Institute of International Business,Pune.
    • Dr Nitesh Behare Dr.Nitesh Behare,Associate Professor,Balaji Institute of International Business,Pune.
    • Dr V .P Sriram Dr.V.P.Sriram,Associate Professor,Balaji Institute of International Business,Pune.
    • Prof. Anup Shivanacheri Prof.Anup Shivanacheri,Assistant Professor,Balaji Institute of International Business,Pune.
    2018-07-08
    https://doi.org/10.14419/ijet.v7i3.13420
  • Social Media, Financial Services, Digital Banking, Etc.
  • In this Modern Era, the Major usage of social media is changing its old traditional mainstream from entertainment to the world of opportunity to work and trade. In the Emerging banking industry where customers' interaction plays a major and necessary role, Now a days, these digital communication is becoming a Predominant and strong communication channel between Customers and financial institutions. Digital Medias are considered as the most valuable tools for potential customers or clients get connected to the bank towards accessing their financial services in a most fashionable manner. Hence, the Emergence of Social Media as a major digital Platform which plays a major and replacing traditional way of getting financial services to a most modern way of accessing such financial services and its related information. In this paper, the researcher tries to portray the emerging importance of social media as a technological innovative platform which in turn plays a major role in Digital Banking and its related services. One way the researcher tries to bring the growing importance and need of these social media as innovative technological platform readily developing in banking sector where in customer could be able to access and do financial transactions in a most simpler and economical manner.

     

  • References

    1. [1] Sunny Banerjea (2012), “Social Media in Financial Servicesâ€, KPMG - International Cooperative (KPMG International), pp.01-16. https://www.kpmg.de/docs/Social-media-fs-12.pdf.

      [2] Sourav Mujumdar (2017), “Flipkart's Digital Drive - The ecommerce giant's digital payments foray PhonePe is a potential game changerâ€, Forbes-India, Nov 23rd, 2017. http://www.forbesindia.com/article/column/flipkarts-digital-drive/48715/1.

      [3] Richard Eldridge (2017), “How Social Media Is Shaping Financial Servicesâ€, HuffPost Blog, 21st Jan 2017. https://www.huffingtonpost.com/richard-eldridge/how-social-media-is-shapi_b_9043918.html.

      [4] Laurence Leyden (2017), “Getting Started With Your Core Banking Projectâ€, Digitalist Magazine, 2017. https://www.digitalistmag.com/industries/getting-started-with-your-core-banking-project-022464.

      [5] MacCallum, R. C. & Austin, J. T. (2000), “Applications of structural equation modeling in psychological researchâ€. Annual Review of Psychology, Vol.No.51, pp.201-226. https://doi.org/10.1146/annurev.psych.51.1.201.

      [6] Browne MW, Cudeck R (1993), “Alternative Ways of Assessing Model Fitâ€. In: Bollen K, Long J, editors. Testing Structural Equation Models. Sage; Newbury Park, CA: 1993. pp. 136–162.

      [7] Bentler PM (1990), “Comparative Fit Indexes in Structural Modelsâ€, Psychological Bulletin, Vol.No.107, pp.238–246. https://doi.org/10.1037/0033-2909.107.2.238.

      [8] Bentler, Peter M. (1980), "Multivariate Analysis with Latent Variables: Causal Modeling," in Annual Review of Psychology, 31, 419-456. https://doi.org/10.1146/annurev.ps.31.020180.002223.

      [9] Bagozzi, Richard P. (1980a), Causal Models in Marketing, New York: John Wiley & Sons.

      [10] Bagozzi, Richard P. (1980b), "On the Construct Validity of the Expectancy-Value Model of Attitude," Unpublished working paper, Massachusetts Institute of Technology.

      [11] Bagozzi, Richard P. (1980c), "A Holistic Methodology for Modeling Consumer Response to Innovation," unpublished working paper, Massachusetts Institute of Technology.

  • Downloads

  • How to Cite

    Shrikant Waghulkar, P., Nitesh Behare, D., V .P Sriram, D., & Anup Shivanacheri, P. (2018). A Structural Equation Model for Emerging Needs and Changing Role of Social Media Usage as Financial Service Platform. International Journal of Engineering & Technology, 7(3), 1320-1324. https://doi.org/10.14419/ijet.v7i3.13420