Identifying the Weaknesses and Strengths of the Performance of Neobanks in Iran (Case Study, Bluebank, Bankino and Qarz al-Hasneh Resalat)

Abstract

Neobank is the new generation of banking and refers to banks that do not have a physical location (branch) for their activities and provide services to customers with fully mobile and digital infrastructure and 24-hour online support. The current research was conducted with the aim of identifying the weak and strong points of the performance of neobanks in Iran. The purpose of the research was applied and its method was descriptive-survey. The sample was equal to 150 customers of Bluebank (belonging to Saman Bank) and Bankino (belonging to Middle East Bank) and Karzad Al-Hosna Resalat Institute, who were randomly sampled. A questionnaire was used in data collection and the data were analyzed using one-sample t-test, Friedman's test and exploratory factor analysis test using varimax rotation method in SPSS version 23 software. The findings of the research indicate that neobanks in Iran have 13 common strengths and 5 common weaknesses. Also, among the four performance dimensions of neobanks, customer orientation is the most important and the highest priority, and economic indicators, organizational structure, and value proposition are the next most important, respectively, and then customer orientation with five indicators (three strengths and two weaknesses), the dimension of organizational structure is indexed with six indicators (three strengths and three weaknesses), the dimension of value proposition with four indicators (four strengths) and the dimension of economic indicators with three indicators (three strengths). Finally, by using the mentioned indicators, it is possible to evaluate the strengths and weaknesses of the country's neobanks.