Research on Consumer Behavior in the Digital Banking Market: The Case of Monobank (Development Service Industry Management)

Summary

• The study analyzes consumer behavior in Ukraine's digital banking market using Monobank as a primary case study [p.1].p.1
• Monobank operates entirely without physical branches, delivering all banking services exclusively via its mobile application [p.2].p.2
• Monobank's Facebook presence includes 71 тисячу підписників, showing lower engagement compared to other social platforms [p.3].p.3
• Monobank maintains 225 тисяч підписників on Instagram while maintaining only 3 підписки on developers and related business projects [p.3].p.3
• Key Ukrainian digital banking competitors include PrivatBank, Sense Bank, and PUMB Online [p.3].p.3

Key insights

1. Functional service factors such as processing speed, UI convenience, and round-the-clock access strongly influence digital banking adoption [p.2].p.2
2. Monobank distinguishes itself from traditional Ukrainian banks by adopting an informal communication style and active social media marketing [p.3].p.3
3. PrivatBank maintains its leading position through a large customer base and a combined offline branch network and online ecosystem [p.3].p.3
4. Limited engagement on Facebook reduces Monobank's direct interaction with older demographic groups [p.3].p.3
5. Integrating products such as Expirenza directly into social media content promotes secondary product adoption among users [p.3].p.3
6. Risks accompanying digital banking development include cybersecurity threats, technical outages, and negative online customer feedback [p.4].p.4