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What is Robo-Advisor

Chapter 3
Handbook of Research on Green, Circular, and Digital Economies as Tools for Recovery and Sustainability
Robo-Advisor combines the word “Robo”, originating from robot, and “Advisor”. It refers to the automated process without interference of a human being, utilising mathematical computations algorithms to support investment and financial decisions. Putting these terms together, it can be defined as “automated financial advisory interactive personalised customer services that minimise human interaction”. As opposed to traditional human advisory services, robo-advisor can reduce the costs of human labour while still offering personalised advices and can be accessed as long as one has an internet connectivity.
Published in Chapter:
Advanced Technological Factors Affecting Digital Banking Usage Intention
Chua (Jane) Soh Chen (Anglia Ruskin University, UK) and Omkar Dastane (FTMS Global, Malaysia)
Copyright: © 2022 |Pages: 23
DOI: 10.4018/978-1-7998-9664-7.ch003
Abstract
This research-based chapter investigates impact of various innovation technology factors on digital banking customers' usage intention. The selected factors are online banking, mobile payment, artificial intelligence-based robot advisors, and cloud-based services. The study develops conceptual model against theoretical background of the innovation diffusion theory, technology acceptance model, and unified theory of acceptance and use of technology. Empirical data was collected through online survey using a self-administered questionnaire. Quantitative research method was employed with a total sample size of 302 respondents using snowball sampling technique. Normality and reliability tests were performed followed by confirmatory factory analysis, validity assessment, and structural equation modelling using AMOS 24. The findings confirm positive significant impact of artificial intelligence-based robot advisor and cloud-based services on usage intention. Theoretical contribution and managerial implications are then discussed along with limitations of the current study and future research avenues.
Full Text Chapter Download: US $37.50 Add to Cart
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Chapter 1
New Generation Distribution Channels and Customer Experience Used in Marketing Financial Products and Services in Digital Transformation
It is that banks provide financial consultancy services to their customers through online channels using artificial intelligence.
Published in Chapter: New Generation Distribution Channels and Customer Experience Used in Marketing Financial Products and Services in Digital Transformation; From: Emerging Challenges, Solutions, and Best Practices for Digital Enterprise Transformation
Full Text Chapter Download: US $37.50 Add to Cart
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