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Abstract
Banks' digitalization is a future trend and a national financial technology policy. This research aims to study which factors will affect digital accounts' promotion by digital banking. Specifically, we apply the Pearson product-moment correlation (PPMC) to analyze the relationship between variables. The empirical findings can briefly be summarized as follows:
1. In the PPMC model, the research shows that digital accounts have a significant positive relationship with the card in force and active cards.
2. The digital accounts' negative relationship with account opening age limit. On the whole, there are two ways for digital banking to promote digital accounts.
First, digital banking effectively promotes digital accounts by targeting customers who hold the bank's credit cards. Second, digital banking best doesn't set the account opening age limit. The results of this research can also serve as a reference for bank authorities when formulating policies to promote digital accounts' promotion.
Keywords: Fintech, Digital Banking, Digital Account, Pearson product-moment correlation, Pearson's r.
(ProQuest: ... denotes formulae omitted.)
1.Introduction
According to the Taiwan Financial Supervisory Commission (TFSC) statistics (2020), the number of digital banking has increased from 17 banks in 2015 to 34 in 2020, a 100% increase in just five years. Among them, the number of digital accounts in Taiwan has reached 6.463 million in 2020, and the growth rate has increased fastest year.
There are two main reasons. First, beginning in November 2019, the COVID-19 epidemic has spread to more than 120 countries and regions around the world in just a few months, and more than 300,000 people have been ill. It has not been controlled so far. Countries have resorted to the evacuation of overseas Chinese, air bans, and border closures. In Taiwan, the world's travel warning lights are listed as "red" for an unprecedented rate. It can be seen that the speed of the epidemic has forced countries or regions around the world to take a global quarantine action, which in turn caused a severe impact on the global economy. Hence, the government has encouraged people to use more internet functions because reduces the chance of infection. As a result, the number of digital accounts continues to rise. According to the Banking Bureau of the TFSC's 2020 statistics, the number of digital deposit...