Data Consideration and Sources
The research will utilize secondary data sources, such as peer-reviewed articles, reports, case studies and other relevant materials that provide a detailed account of banking technology in the United Arab Emirates. A choice for this source of data can be justified by the fact that it is sufficiently reliable and can be accessed, so that the research is not required to invest in additional expenses and procedures of data retrieval. This evidence is widely available, but little is known about a systematic analysis of the related literature. The matter is that a great number of articles are published on a regular basis, but there were no attempts to trace any trends within the volume of the relevant literature.
That is why the research intends to use a systematic literature review to answer the research questions within this domain. A systematic literature review is applied to observe specific tendencies within the sample of the valid literature, which is why it is possible to draw solid conclusions about the use of banking technology in the UAE and its impacts on the banks as well as their customers. The information available is quite explicit, but it has been never analyzed in relation to specific categories that are identified with dependent and independent variables of the study. Beyond a doubt, a systematic literature review may include its own limitations, but they are easy to detect as long as the measurements are tested with a degree of their deviation (Basu, 2017). As a result, the findings that exceed standard deviation will be not accepted as statistically significant and therefore cannot be used for making distinct conclusions. Moreover, a systematic literature review can provide insight into what exact benefits and challenges of banking technology in the UAE are the most persistent (Basu, 2017). These outcomes can be also referred to the literature review in order to verify congruence of theoretical framework with empirical evidence. In such a way, the research is able not only to answer its research questions and test hypotheses but also to acquire multiple implications that can be used for building a more detailed research in the future and deliver significant empirical value.
Description and Definition of the Variables
The study includes dependent and independent variables, so they are worth a more detailed description. To start with, an independent variable must be outlined. It is illustrated as a presence of adopted banking technology in the United Arab Emirates. As a consequence, a dependent variable is represented with the effects produced by UAE banking technology on the UAE banks and their customers. It is informative to note that both positive and negative impacts are considered for the subsequent discussion. Then, banking technology of the UAE should be described in detail. It is becoming increasingly difficult to ignore the fact that banking technology in the United Arab Emirates can be largely determined by the presence of ATMs and bank cards, the use of digital banking and other technologies related to e-banking, the use of biometrics for data security, and the implementation of IT/software solutions for bank accounting operations (Al-Hajri, 2008). The p-resence of these solutions will be the evidence for a sufficient technology deployment to the UAE banking system (Al-Hajri, 2008). This aspect must be also concerned, since there is a possibility that the independent variable may be insufficiently presented with the sample of literature.
As for a definition of the dependent variable, it can be described as follows. Since it must be presented with negative and positive impacts of UAE banking technology on the banks and their customers, a number of aspects mentioned in the literature should be stated. First of all, cost reduction for banks is of paramount importance. Likewise, profit margins gained with the use of technologies should be taken into account, as they determine their profitability in comparison with initial expenses (Banalzwaa & Hilman, 2015). These costs also belong to the attributes of the dependent variable, so they will be paid attention to. Apart from that, customer retention has to be considered. That is why customers' benefits and challenges are also included: the ubiquity of service, convenience, lower transaction fees, data security, and the accessibility of service. Persistence of every single aspect will be measured, so the study is able to identify what effects are the most significant and whether the benefits outweigh the challenges presented with banking technologies (Mohammed & Mohammed, 2013). These calculations are expected to answer the research questions and verify the hypotheses, so they should be described in the following subsections.
The study intends to answer three research questions as follows:
- To what extent have banks in the UAE adopted technology? It is no surprise that measuring the impacts of banking technology on the banks and their customers has to start with the identification of technology's presence as such. That is why the systematic review is used to primarily indicate to what extent banking technologies are practiced in the United Arab Emirates. These rates vary from emirate to emirate, which is why it is critical to observe a general dependence of the UAE banks on technology (Ravichandran & Ahmed, 2015). This requirement is preexisting for the study, owing to the fact that any further analysis would be redundant, provided that banking technology occurs to be poorly deployed to the UAE banking system.
- Has the use of technology helped the UAE banks to improve their performance? This research questions is supposed to uncover distinct benefits of using banking technologies. Benefits should be recognized as an observable value not only for banks, but also for their customers. Technologic solutions are known to offer a variety of advantages, but it is imperative to be cognizant of real benefits that are gained with the implementation of banking technologies. Furthermore, the most widespread and valuable benefits must be highlighted. The study is expected to provide rationale why they are considered as the most significant on the basis of the theoretical framework application and the discussion of the findings. Besides, they should be compared with the challenges encountered by the banks and customers because of the technology's implementation.
- What are the challenges faced by banks due to the use of technology? In consequence, challenges should be given an appropriate account as well, so revealing the most common challenges and their effects on the banks and their customers is also a significant part of the research. As it has been already mentioned above, the challenges should be compared with benefits in order to observe whether barriers presented with the banking technologies are worth the benefits. The most persistent challenges should also be explained in the context of the theoretical framework and general discussion of the research findings.
The aforementioned research questions constitute the scope of the study, but the related hypotheses are also worth presenting.
Since the research questions have been presented, it is necessary to outline hypotheses that stem from them:
- Most banks in the UAE have employed online banking, which is the latest banking technology in the world. According to the literature review, the majority of the banks have already adopted digital banking, thereby optimizing operational performance and creating new values for their customers (Banalzwaa & Hilman, 2015). Digital or e-banking is the most widespread banking technology, which is why its large presence within the network of the banks in the United Arab Emirates will indicate the overall technological awareness of banks in the country. Provided that this hypothesis is proved, the rest of the research questions and related hypotheses will be addressed as a result. This is the most fundamental stance for the entire research, which is why it has to be paid attention to first.
- The use of the technology has enabled banks in the UAE to serve their customers faster and conveniently. Convenience and ubiquity of services offered by the UAE banks are commonly regarded as the main benefits delivered with banking technologies, and the literature review also places a particular emphasis on that aspect, which is why this assumption should be tested (Mehta & Bhavani, 2017). It is becoming abundantly clear that banking technologies can deliver such value, but what the extent of these advantages is an important concern, as well. Nonetheless, the other benefits are also in the scope of the study, so they to be discussed in the context of this hypothesis proof/refutation. The systematic literature review is supposed to present sufficient evidence in this regard, but the results retrieved from the sample will be aligned with the methodology's framework of the study, which will be described further in this chapter.
- Banks in the UAE have faced numerous challenges after employing technology. In other words, the presence of challenges associated with the implementation of banking technologies in the United Arab Emirates is also a subject to the study's assumptions, since the literature review and common knowledge suggest that the establishment of technology-driven solutions presuppose a number of challenges (Banalzwaa & Hilman, 2015). The verification of this hypothesis not only determines the existence of these challenges as such but also investigates what specific challenges are present and what is the degree of their impacts on the performance of banks in the UAE and customer experiences of using them.
The data used for the research will be retrieved from the literature collected and categorized in accordance with inclusion criteria. The sample for the data analysis will comprise 30 peer-reviewed articles that are devoted to the discussion of banking technology in the United Arab Emirates. Inclusion criteria for these articles are the year of publication not earlier than 2007 and the presence of results relevant to the dependent and independent variables of the study. Conversely, exclusion criteria present all the articles published earlier than 2007.
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