RETAIL CORE BANKING SERVICES COMPARISON TOOLS AND THE QUALITY OF INFORMATION
The result's identifiers
Result code in IS VaVaI
<a href="https://www.isvavai.cz/riv?ss=detail&h=RIV%2F62690094%3A18450%2F17%3A50013847" target="_blank" >RIV/62690094:18450/17:50013847 - isvavai.cz</a>
Result on the web
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DOI - Digital Object Identifier
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Alternative languages
Result language
angličtina
Original language name
RETAIL CORE BANKING SERVICES COMPARISON TOOLS AND THE QUALITY OF INFORMATION
Original language description
Retail core banking services provided by the payment accounts are the most frequently used financial services. However, consumers bear the negative impact of the information asymmetry in form of tariff opacity, tying, bundling and conditional prices. The Payment Account Directive, transposed now in the national legal systems, seeks to change it. It relies strongly on the comparison tools which should provide understandable, accurate and verifiable information. Every member state has a duty to provide at least one such tool allowing consumers making well-informed choices. Our main goal is to perform quality of information assessment for three representative comparison tools in the Czech Republic, Poland and Slovakia. The results are not satisfactory regarding the accuracy, full price statement and relevance. None of the surveyed tools provided the result page without errors in form of incorrect calculation, misguiding results and plausible but not completely accurate results. We describe observed flaws in detailed result confirmation. We do not find any major flaw in terms of comparability and verifiability. The secondary objective of the paper is to assess the readiness for the upcoming regulation concerning a standardised terminology for the most common services linked to a payment account. This regulation is right now being prepared by the European Banking Authority.
Czech name
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Czech description
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Classification
Type
D - Article in proceedings
CEP classification
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OECD FORD branch
50206 - Finance
Result continuities
Project
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Continuities
I - Institucionalni podpora na dlouhodoby koncepcni rozvoj vyzkumne organizace
Others
Publication year
2017
Confidentiality
S - Úplné a pravdivé údaje o projektu nepodléhají ochraně podle zvláštních právních předpisů
Data specific for result type
Article name in the collection
Finance and performance of firms in science,education and practice
ISBN
978-80-7454-653-2
ISSN
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e-ISSN
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Number of pages
16
Pages from-to
994-1009
Publisher name
Univerzita Tomáše Bati
Place of publication
Zlín
Event location
Tomas Bata Univ Zlin
Event date
Apr 26, 2017
Type of event by nationality
WRD - Celosvětová akce
UT code for WoS article
000471174000078