Robo-advisory financial services and the dynamics of new innovation in Saudi Arabia
Many individuals seek guidance from experts to obtain financial services. Robo-Advisors (RAs) have recently replaced human financial advisors due to concerns about high professional fees, behavioural bias, conflicts of interest, etc. From this study, we wanted to know the adoption intentions and var...
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| Format: | Article |
| Language: | English |
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Elsevier
2024-12-01
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| Series: | Journal of Open Innovation: Technology, Market and Complexity |
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| Online Access: | http://www.sciencedirect.com/science/article/pii/S2199853124001914 |
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| author | Yasmeen Ansari Rohit Bansal |
| author_facet | Yasmeen Ansari Rohit Bansal |
| author_sort | Yasmeen Ansari |
| collection | DOAJ |
| description | Many individuals seek guidance from experts to obtain financial services. Robo-Advisors (RAs) have recently replaced human financial advisors due to concerns about high professional fees, behavioural bias, conflicts of interest, etc. From this study, we wanted to know the adoption intentions and various determinants impacting RAs in the Kingdom of Saudi Arabia (KSA). Partial Least Squares Structural Equation Modelling (PLS-SEM) is employed to examine the data with a sample size of 1361 respondents from the KSA to determine the adoption factors for RAs. The study revealed that usefulness, perceived benefits, and policy interventions positively affect the adoption of RAs in KSA. The current research provides a comprehensive behavioural framework to understand RA's adoption by Saudi Arabian investors while also including the dimension of policy initiative by the governing authority. |
| format | Article |
| id | doaj-art-bbe68a4308e14615aac53eec0c94fd09 |
| institution | OA Journals |
| issn | 2199-8531 |
| language | English |
| publishDate | 2024-12-01 |
| publisher | Elsevier |
| record_format | Article |
| series | Journal of Open Innovation: Technology, Market and Complexity |
| spelling | doaj-art-bbe68a4308e14615aac53eec0c94fd092025-08-20T02:30:42ZengElsevierJournal of Open Innovation: Technology, Market and Complexity2199-85312024-12-0110410039710.1016/j.joitmc.2024.100397Robo-advisory financial services and the dynamics of new innovation in Saudi ArabiaYasmeen Ansari0Rohit Bansal1Department of Finance, Saudi Electronic University, Saudi Arabia; Corresponding author.Department of Management Studies, Rajiv Gandhi Institute of Petroleum Technology, IndiaMany individuals seek guidance from experts to obtain financial services. Robo-Advisors (RAs) have recently replaced human financial advisors due to concerns about high professional fees, behavioural bias, conflicts of interest, etc. From this study, we wanted to know the adoption intentions and various determinants impacting RAs in the Kingdom of Saudi Arabia (KSA). Partial Least Squares Structural Equation Modelling (PLS-SEM) is employed to examine the data with a sample size of 1361 respondents from the KSA to determine the adoption factors for RAs. The study revealed that usefulness, perceived benefits, and policy interventions positively affect the adoption of RAs in KSA. The current research provides a comprehensive behavioural framework to understand RA's adoption by Saudi Arabian investors while also including the dimension of policy initiative by the governing authority.http://www.sciencedirect.com/science/article/pii/S2199853124001914Robo-advisor/sAdoption intentionPerceived benefitsRiskPolicy interventions |
| spellingShingle | Yasmeen Ansari Rohit Bansal Robo-advisory financial services and the dynamics of new innovation in Saudi Arabia Journal of Open Innovation: Technology, Market and Complexity Robo-advisor/s Adoption intention Perceived benefits Risk Policy interventions |
| title | Robo-advisory financial services and the dynamics of new innovation in Saudi Arabia |
| title_full | Robo-advisory financial services and the dynamics of new innovation in Saudi Arabia |
| title_fullStr | Robo-advisory financial services and the dynamics of new innovation in Saudi Arabia |
| title_full_unstemmed | Robo-advisory financial services and the dynamics of new innovation in Saudi Arabia |
| title_short | Robo-advisory financial services and the dynamics of new innovation in Saudi Arabia |
| title_sort | robo advisory financial services and the dynamics of new innovation in saudi arabia |
| topic | Robo-advisor/s Adoption intention Perceived benefits Risk Policy interventions |
| url | http://www.sciencedirect.com/science/article/pii/S2199853124001914 |
| work_keys_str_mv | AT yasmeenansari roboadvisoryfinancialservicesandthedynamicsofnewinnovationinsaudiarabia AT rohitbansal roboadvisoryfinancialservicesandthedynamicsofnewinnovationinsaudiarabia |