The impact of technology investment on financial service quality: Evidence from bank hirings
Kim, Sydney Seulgi
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https://hdl.handle.net/2142/124518
Description
Title
The impact of technology investment on financial service quality: Evidence from bank hirings
Author(s)
Kim, Sydney Seulgi
Issue Date
2024-04-15
Director of Research (if dissertation) or Advisor (if thesis)
Li, Laura
Doctoral Committee Chair(s)
Li, Laura
Committee Member(s)
Chen, Clara
Zhu, Wei
Almeida, Heitor
Department of Study
Accountancy
Discipline
Accountancy
Degree Granting Institution
University of Illinois at Urbana-Champaign
Degree Name
Ph.D.
Degree Level
Dissertation
Keyword(s)
Financial Service Quality
Human Capital
Technology
Abstract
Utilizing a near-universe dataset on bank job postings, I examine whether banks’ human capital investment in technology impacts the quality of financial services. I find that higher investment in technology professionals is not associated with overall consumer satisfaction. However, further investigation reveals more complicated impacts from technology investment. While higher investment in technology specialists is significantly associated with an increase in service quality regarding loan application and loan service, but it is associated with a decrease in the service quality of loan collection, particularly when the bank has no branch presence in the local area. This evidence supports the proposition that investment in technology alone can increase financial service quality through building better information infrastructure and offering more convenient and standardized services. However, technology is inadequate when dealing with complex financial distress issues, particularly when not complemented by human service personnel. Overall, this study provides the first empirical evidence on the impact of technology investment on financial service quality through the lens of human capital investment.
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