EXPLORING DISRUPTIVE INNOVATION AND OPERATIONAL PERFORMANCE: A STUDY OF NEOBANKS IN AN EMERGING ECONOMY

Yıl 2025, Cilt: 8 Sayı: 2, 55 - 71, 07.07.2025

Olusegun Odesola , Adedayo Adebisi , Turayo Salako

Öz

This study investigated the influence of disruptive innovation on customer satisfaction, service quality and operational speed in Nigerian Neobanks. A descriptive research design was employed, with a sample size of 400 interviewees comprising Neobank customers and staff in Southwestern Nigeria. A well-structured questionnaire was used to collect data and structural equation modeling (SEM) was utilized for data analysis. The outcomes reveal that a customer-centric approach (CCA) positively affects quality of Neobanks’ service (β=0.284) and significantly enhances satisfaction of customers (β=0.331, p<0.05). However, personalization (PER) and technology-driven services (TDS) have significant negative influences on service quality of Neobanks (β=-0.218; β=-0.239) and customers satisfaction (β=-0.178; β=-0.274). Disruptive innovation has no significant effect on speed of operations of the Neobanks (β=0.209), while financial innovation (β=0.134, p<0.05) and leadership competence (β=0.202, p<0.05) enhance it. Perceived risk (β=-0.144) and technological development strategies (β=-0.306, p<0.01) negatively impact speed, indicating potential operational delays. The study's findings offer insights into the alignment of disruptive innovations with Neobank operations, emphasising the need for a balanced approach to innovation and customer satisfaction. Nigerian Neobanks should implement a customer-centric approach to improve service quality and customer satisfaction and invest in leadership development and financial innovation in order to enhance operational speed. Prioritizing innovation alignment is vital for sustainable competitiveness and growth.

Anahtar Kelimeler

Disruptive Innovation , Neobanks , Quality of service , Speed of operation , Customer satisfaction

Exploring Disruptive Innovation and Operational Performance: A Study of Neobanks in an Emerging Economy

Öz

This study investigated the influence of disruptive innovation on customer satisfaction, service quality and operational speed in Nigerian Neobanks. A descriptive research design was employed, with a sample size of 400 interviewees comprising Neobank customers and staff in Southwestern Nigeria. A well-structured questionnaire was used to collect data and structural equation modeling (SEM) was utilized for data analysis. The outcomes reveal that a customer-centric approach (CCA) positively affects quality of Neobanks’ service (β=0.284) and significantly enhances satisfaction of customers (β=0.331, p<0.05). However, personalization (PER) and technology-driven services (TDS) have significant negative influences on service quality of Neobanks (β=-0.218; β=-0.239) and customers satisfaction (β=-0.178; β=-0.274). Disruptive innovation has no significant effect on speed of operations of the Neobanks (β=0.209), while financial innovation (β=0.134, p<0.05) and leadership competence (β=0.202, p<0.05) enhance it. Perceived risk (β=-0.144) and technological development strategies (β=-0.306, p<0.01) negatively impact speed, indicating potential operational delays. The study's findings offer insights into the alignment of disruptive innovations with Neobank operations, emphasising the need for a balanced approach to innovation and customer satisfaction. Nigerian Neobanks should implement a customer-centric approach to improve service quality and customer satisfaction and invest in leadership development and financial innovation in order to enhance operational speed. Prioritizing innovation alignment is vital for sustainable competitiveness and growth.

Anahtar Kelimeler

Disruptive Innovation , Neobanks , Quality of service , Speed of operation , Customer satisfaction

Kaynakça

• Adamek, J., & Solarz, M. (2023). Adoption factors in digital lending services offered by FinTech lenders. Oeconomia Copernicana, 14(1), 169–212. https://doi.org/10.24136/oc.2023.005
• Alt, R., Beck, R., & Smits, M. T. (2018). Fintech and the transformation of the financial industry. Electronic Markets, 28(3), 235–243. https://doi.org/10.1007/s12525-018-0310-9
• Amon, A., Jagrič, T., & Oplotnik, Ž. J. (2024). The Neobank Revolution: An Assessment of Their Contribution to the Global Sustainability. https://doi.org/10.20944/preprints202404.1567.v1
• Anning-Dorson, T. (2018). Innovation and competitive advantage creation: The role of organisational leadership in service firms from emerging markets. International Marketing Review, 35(4), 580–600. https://doi.org/10.1108/IMR-11-2015-0262
• Ashiru, O., Balogun, G., & Paseda, O. (2023). Financial Innovation and Bank Financial Performance: Evidence from Nigerian Deposit Money Banks. Research in Globalization, 6, 100120. https://doi.org/10.1016/j.resglo.2023.100120
• Bayyapu, S., Turpu, R. R., & Vangala, R. R. (2021). Banking in the digital age: Navigating transformations in business models, customer journeys, and operational excellence. International Journal of Advanced Research in Management, 12(1), 110–118.
• Christensen, C. M. (1997). The Innovator’s Dilemma: When New Technologies Cause Great Firms to Fail. Harvard Business Review Press.
• Creswell, J. W. (2014). Research design: Qualitative, quantitative, and mixed methods approach (4th ed.). SAGE Publications.
• Davis, F. D. (1989). Perceived usefulness, perceived ease of use, and user acceptance of Information Technology. MIS Quarterly, 13(3), 319. https://doi.org/10.2307/249008
• DeVellis, R. F. (2016). Scale development: Theory and applications (4th ed.). SAGE Publications.
• Jasmin, H. G., & Lara, N. F. (2019). The Rise of Neobanks: An Analysis of the Disruptive Potential of Neobanks in the Swiss Banking Sector. Copenhagen Business School. https://research-api.cbs.dk/ws/portalfiles/portal/62188115/860023_123733_123256.pdf (Accessed: 12 September 2024)
• Josyula, H. P. (2021). The Role of Fintech in Shaping the Future of Banking Services. The International Journal of Interdisciplinary Organizational Studies, 16, 187–201.
• Kalunda, L. M. (n.d.). Operations Strategy and Operational Competencies in Organizational Performance: A Rapid Review. American Academic Scientific Research Journal for Engineering, Technology, and Sciences, 97(1), 179–187.
• Khajeh Nobar, H. B., & Rostamzadeh, R. (2018). The impact of customer satisfaction, customer experience and customer loyalty on Brand Power: Empirical Evidence from Hotel Industry. Journal of Business Economics and Management, 19(2), 417–430. https://doi.org/10.3846/jbem.2018.5678
• Kline, R. B. (2009). Principles and practice of structural equation modelling (3rd ed.). Guilford Press. Le, M. T. H. (2021). Examining factors that boost intention and loyalty to use fintech post-covid-19 lockdown as a new normal behavior. Heliyon, 7(8). https://doi.org/10.1016/j.heliyon.2021.e07821
• Liébana-Cabanillas, F., Marinkovic, V., Ramos de Luna, I., & Kalinic, Z. (2018). Predicting the determinants of mobile payment acceptance: A hybrid SEM-neural network approach. Technological Forecasting and Social Change, 129, 117–130.
• Ma, Y., He, S., & Tikuye, G. A. (2024). The impacts of technology innovation on customer satisfaction, employee, and leadership commitment in CSR. International Journal of Management Science and Business Administration, 10(3), 7–28.
• Melnyk, S. A., Stewart, D. M., & Swink, M. (2004). Metrics and performance measurement in Operations Management: Dealing with the Metrics Maze. Journal of Operations Management, 22(3), 209–218. https://doi.org/10.1016/j.jom.2004.01.004
• Nagy, S., Molnár, L., & Papp, A. (2023). Customer adoption of Neobank services from a technology acceptance perspective – evidence from Hungary. Decision Making: Applications in Management and Engineering, 7(1), 187–208. https://doi.org/10.31181/dmame712024883
• National Bureau of Statistics. (2019). National survey of micro small & medium enterprises (MSMEs) 2017. https://nigerianstat.gov.ng/elibrary/read/966
• National Bureau of Statistics. (2020). Demographic statistical bulletin 2020. https://nigerianstat.gov.ng/elibrary/read/1241121
• Okoro, C., Nnam, H., Wilson, E. J., & Obizuo, C. (2024). Impact of Financial Technology on Financial Institutions’ Performance. Evidence From Nigerian Commercial Banks. International Journal of Accounting and Financial Management Research, 10, 111–134.
• Olaniyan, Ololade Janet, AJALA Rosemary B, & SIJUADE Oluwatoyin O. (2023). Digital Disruption in finance: The rise of fintech and its implications. EPRA International Journal of Economics, Business and Management Studies, 5–17. https://doi.org/10.36713/epra14473
• Olaolu, A. (2022). Digital Banking Adoption in Nigeria: The place of technology acceptance model. Asian Journal of Economics, Business and Accounting, 59–72. https://doi.org/10.9734/ajeba/2022/v22i730579
• Oluwaseun Augustine Lottu, Adekunle Abiola Abdul, Donald Obinna Daraojimba, Ayoola Maxwell Alabi, Adesola Adepeju John-Ladega, & Chibuike Daraojimba. (2023). Digital Transformation in banking: A Review of Nigeria’s journey to economic prosperity. International Journal of Advanced Economics, 5(8), 215–238. https://doi.org/10.51594/ijae.v5i8.572
• Omoge, A. P., Gala, P., & Horky, A. (2022). Disruptive technology and AI in the banking industry of an emerging market. International Journal of Bank Marketing, 40(6), 1217–1247. https://doi.org/10.1108/ijbm-09-2021-0403
• Puschmann, T. (2017). Fintech. Business & Information Systems Engineering, 59, 69–76. https://doi.org/10.1007/s12599-017-0464-6
• Princewill, S. J., & Needorn, R. S. (2022). Advancing Operational Performance of Manufacturing Sector through Lean Adoption: A Conceptual Model. International Journal of Business Systems and Economics, 13(5), 100–116.
• Sabbani , G. (2024). The Rise of Neobanks: Disrupting the Traditional Banking Landscape. International Journal of Science and Research, 13(5), 1024-1027.
• Sardar, S., & Anjaria, K. (2023). The Future of Banking: How Neo Banks Are Changing the industry. International Journal of Management, Public Policy and Research, 2(2), 32–41. https://doi.org/10.55829/ijmpr.v2i2.153
• Shanti, R., Siregar, H., Zulbainarni, N., & Tony. (2024). Revolutionizing banking: Neobanks’ digital transformation for enhanced efficiency. Journal of Risk and Financial Management, 17(5), 188. https://doi.org/10.3390/jrfm17050188
• Talebi, H., & Khatibi Bardsiri, A. (2023). The impact of Information Technology on service quality, satisfaction, and Customer Relationship Management (Case Study: it organization individuals). Journal of Management Science &amp; Engineering Research, 6(2), 24–31. https://doi.org/10.30564/jmser.v6i2.5823
• Nnaomah, U. I., Aderemi, S., Olutimehin, D. O., Orieno, O. H., & Abaku, E. A. (2024). Conceptualizing Fintech’s impact on banking: A Comparative Study of the USA and Nigeria. Finance & Accounting Research Journal, 6(3), 437–462. https://doi.org/10.51594/farj.v6i3.970
• Yermack, D. (2018). FinTech in Sub-Saharan Africa: What Has Worked Well, and What Hasn’t," NBER Working Papers 25007. National Bureau of Economic Research, Inc. https://www.nber.org/system/files/working_papers/w25007/w25007.pdf