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Consumer Perceptions to Friction in the Context of the Privacy vs Convenience Trade-Off – The Case of an Open Banking Consent Journey

Author:

Alexandra Gencheva

Department of Management, London School of Economics and Political Science, GB
About Alexandra
MSc Management of Information Systems and Digital Innovation
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Abstract

It is widely considered that ‘friction’ in user experience and digital journeys leads to a negative user engagement, drop off rates, and ultimately impacts profits for business in the digital space. The aspect of individuals’ perception to risk, privacy and convenience is brought in as it directly pertains to the context within which this study occurs.

Here, friction is studied in the context of Open Banking solutions, where to allow for the service to be provided, customers need to consent their data to be shared. Mocked-up digital journeys of a consent model are presented and discussed with participants in focus groups. This paper aims to explore what user perceptions are about friction and how these perceptions and behaviours are impacted by their preferences and expectations about privacy, and convenience. Expectancy Theory dimensions – Expectancy, Instrumentality and Valence - are used to analyse and discuss the findings.

This paper is an abridged adaptation of the author’s Masters’ Thesis Dissertation, for the Management of Information Systems and Digital Innovation course at the LSE, with an original word count of 11,000 words. Thus, findings have been summarised in a table and representative quotes have been omitted due to the wordcount constraints in the iSChannel journal. Appendices and visual representations of the digital journeys, have also been omitted in this publication (link to full thesis: https://bit.ly/2N2MGeQ).

How to Cite: Gencheva, A., 2018. Consumer Perceptions to Friction in the Context of the Privacy vs Convenience Trade-Off – The Case of an Open Banking Consent Journey. iSCHANNEL, 13(1), pp.4–11.
Published on 06 Sep 2018.
Peer Reviewed

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