EXPLORING THE LONG-TERM SHIFTS IN CONSUMER ENGAGEMENT WITH NON BANKING FINANCIAL SERVICES IN A HYBRID DIGITAL ECONOMY
This article examines the long-term changes in consumer engagement with non-banking financial services within the framework of a hybrid digital economy, focusing on the impacts of technological advancements, demographic shifts, and regulatory changes. The widespread adoption of digital financial...
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| Language: | English |
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Academica Brâncuşi
2025-04-01
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| Series: | Analele Universităţii Constantin Brâncuşi din Târgu Jiu : Seria Economie |
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| Online Access: | https://www.utgjiu.ro/revista/ec/pdf/2025-02/16_Enachescu.pdf |
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| author | ENACHESCU VLADIMIR-AURELIAN |
| author_facet | ENACHESCU VLADIMIR-AURELIAN |
| author_sort | ENACHESCU VLADIMIR-AURELIAN |
| collection | DOAJ |
| description | This article examines the long-term changes in consumer engagement with non-banking financial services
within the framework of a hybrid digital economy, focusing on the impacts of technological advancements,
demographic shifts, and regulatory changes. The widespread adoption of digital financial services, accelerated by the
COVID-19 pandemic, has significantly transformed consumer behavior, resulting in a marked increase in mobile
payments, digital wallets, fintech solutions, and robo-advisory services. Utilizing publicly available data from national
statistical institutes and Eurostat, we analyze trends in consumer preferences across various regions and
demographics. Our findings indicate a distinct separation between early adopters, mainly younger and tech-savvy
consumers, and older generations, who demonstrate slower rates of adoption. Furthermore, the research underscores
the increasing significance of artificial intelligence, blockchain, and mobile banking in shaping the future of financial
services. The paper also identifies regional disparities in digital finance adoption, with advanced economies showing
higher levels of engagement compared to emerging markets. The study concludes with forecasts for the future of non
banking financial services, emphasizing the continued expansion of fintech, the growing importance of AI and
blockchain, and the evolution of regulatory frameworks. This article contributes to understanding the ongoing
transformation in consumer engagement with financial services in the digital era, offering valuable insights for
policymakers, financial institutions, and technology developers aiming to navigate the complexities of the hybrid digital
economy. |
| format | Article |
| id | doaj-art-d3c8f3cd108547ebbf71be926b6cb99c |
| institution | DOAJ |
| issn | 2344-3685 |
| language | English |
| publishDate | 2025-04-01 |
| publisher | Academica Brâncuşi |
| record_format | Article |
| series | Analele Universităţii Constantin Brâncuşi din Târgu Jiu : Seria Economie |
| spelling | doaj-art-d3c8f3cd108547ebbf71be926b6cb99c2025-08-20T03:23:08ZengAcademica BrâncuşiAnalele Universităţii Constantin Brâncuşi din Târgu Jiu : Seria Economie2344-36852025-04-0112196206EXPLORING THE LONG-TERM SHIFTS IN CONSUMER ENGAGEMENT WITH NON BANKING FINANCIAL SERVICES IN A HYBRID DIGITAL ECONOMYENACHESCU VLADIMIR-AURELIAN0LECTURER PH.D. BUCHAREST UNIVERSITY OF ECONOMIC STUDIESThis article examines the long-term changes in consumer engagement with non-banking financial services within the framework of a hybrid digital economy, focusing on the impacts of technological advancements, demographic shifts, and regulatory changes. The widespread adoption of digital financial services, accelerated by the COVID-19 pandemic, has significantly transformed consumer behavior, resulting in a marked increase in mobile payments, digital wallets, fintech solutions, and robo-advisory services. Utilizing publicly available data from national statistical institutes and Eurostat, we analyze trends in consumer preferences across various regions and demographics. Our findings indicate a distinct separation between early adopters, mainly younger and tech-savvy consumers, and older generations, who demonstrate slower rates of adoption. Furthermore, the research underscores the increasing significance of artificial intelligence, blockchain, and mobile banking in shaping the future of financial services. The paper also identifies regional disparities in digital finance adoption, with advanced economies showing higher levels of engagement compared to emerging markets. The study concludes with forecasts for the future of non banking financial services, emphasizing the continued expansion of fintech, the growing importance of AI and blockchain, and the evolution of regulatory frameworks. This article contributes to understanding the ongoing transformation in consumer engagement with financial services in the digital era, offering valuable insights for policymakers, financial institutions, and technology developers aiming to navigate the complexities of the hybrid digital economy. https://www.utgjiu.ro/revista/ec/pdf/2025-02/16_Enachescu.pdfhybrid digital economyconsumer behaviordigital financeconsumer engagement. |
| spellingShingle | ENACHESCU VLADIMIR-AURELIAN EXPLORING THE LONG-TERM SHIFTS IN CONSUMER ENGAGEMENT WITH NON BANKING FINANCIAL SERVICES IN A HYBRID DIGITAL ECONOMY Analele Universităţii Constantin Brâncuşi din Târgu Jiu : Seria Economie hybrid digital economy consumer behavior digital finance consumer engagement. |
| title | EXPLORING THE LONG-TERM SHIFTS IN CONSUMER ENGAGEMENT WITH NON BANKING FINANCIAL SERVICES IN A HYBRID DIGITAL ECONOMY |
| title_full | EXPLORING THE LONG-TERM SHIFTS IN CONSUMER ENGAGEMENT WITH NON BANKING FINANCIAL SERVICES IN A HYBRID DIGITAL ECONOMY |
| title_fullStr | EXPLORING THE LONG-TERM SHIFTS IN CONSUMER ENGAGEMENT WITH NON BANKING FINANCIAL SERVICES IN A HYBRID DIGITAL ECONOMY |
| title_full_unstemmed | EXPLORING THE LONG-TERM SHIFTS IN CONSUMER ENGAGEMENT WITH NON BANKING FINANCIAL SERVICES IN A HYBRID DIGITAL ECONOMY |
| title_short | EXPLORING THE LONG-TERM SHIFTS IN CONSUMER ENGAGEMENT WITH NON BANKING FINANCIAL SERVICES IN A HYBRID DIGITAL ECONOMY |
| title_sort | exploring the long term shifts in consumer engagement with non banking financial services in a hybrid digital economy |
| topic | hybrid digital economy consumer behavior digital finance consumer engagement. |
| url | https://www.utgjiu.ro/revista/ec/pdf/2025-02/16_Enachescu.pdf |
| work_keys_str_mv | AT enachescuvladimiraurelian exploringthelongtermshiftsinconsumerengagementwithnonbankingfinancialservicesinahybriddigitaleconomy |