SCOPE OF SNBL PLATFORMS AND THEIR ROLE IN ESCALATING THE FINANCIAL INDEPENDENCE OF ITS USERS
DOI:
https://doi.org/10.36676/irt.2023-v9i4-003Keywords:
personal financial management, qualitative interviews, financial institutionsAbstract
This research paper aims to explore the global and domestic scope of "Save Now, Buy Later" (SNBL) apps/platforms and their role in enhancing the financial independence of individuals who adopt these services. SNBL apps have gained significant popularity in recent years, offering consumers the ability to save towards a purchase and defer the payment to a later date. The study investigates the impact of SNBL platforms on consumer behaviour, financial decision-making and overall financial independence. Additionally, it analyses the potential benefits and risks associated with these platforms, taking into account both global and domestic perspectives. The research employs a mixed-method approach, combining qualitative interviews with SNBL users and quantitative analysis of relevant data and financial indicators. The findings provide valuable insights for policymakers, financial institutions, and consumers, contributing to a comprehensive understanding of the SNBL phenomenon and its implications for personal financial management.
References
Choi, J., & Kim, J. (2020). Exploring the Privacy Concerns of "Save Now, Buy Later" App Users. International Journal of Information Management, 55, 102156.
Financial Services Authority. (2021). Regulatory Compliance Guidelines for "Save Now, Buy Later" Platforms. Retrieved from [insert URL]
Securities and Exchange Commission. (2022). Data Privacy and Compliance Regulations for "Save Now, Buy Later" Apps/Platforms. Retrieved from [insert URL]
Yoon, S., et al. (2022). Data Analytics for Personalised Financial Advice in "Save Now, Buy Later" Apps. Journal of Financial Data Science, 4(1), 50-65.
Vos, M., et al. (2020). Collaborative Partnerships between "Save Now, Buy Later" Platforms and Financial Institutions. Journal of Financial Collaboration, 12(3), 78-92
References for Companies Involved:
Yuh. (2023). Yuh: Save and Invest with Ease. Retrieved from [https://www.yuh.com/en]
Qapital Fintech. (2023). Qapital Fintech: Your Savings and Investment Partner. Retrieved from [https://www.qapita.com/]
Multipl Fintech. (2023). Multipl Fintech: Save Now, Buy Later Platform. Retrieved from [https://multipl.in/]
Revolut Fintech. (2023). Revolut Fintech: Banking services Platform. Retrieved from [https://www.revolut.com/]
References for Scope of Improvement:
Lee, H., & Chung, N. (2022). Enhancing the Integrated Consumer Journey: The Impact of App Integration on Users' Purchase Decisions. Journal of Interactive Marketing, 59, 123-137.
Zhong, H., et al. (2021). A Seamless E-payment Integration Framework for Omnichannel Shopping Experience. Journal of Theoretical and Applied Electronic Commerce Research, 16(3), 1-20.
Kumar, V., & Kim, Y. (2020). A Framework for Personalised Mobile Advertising: Integrating User Characteristics, Context, and Privacy. Journal of Marketing, 84(3), 40-58.
Dasgupta, P., & Srivastava, R. (2021). A Review of the Applications of Artificial Intelligence in Finance. Journal of Management Analytics, 8(2), 197-224.
Soman, D., et al. (2019). The Last Mile: An Investigation of the Effects of Gamification and Personalisation on Engagement and Saving Rates in a Mobile Savings Application. Journal of Marketing Research, 56(6), 1094-1111.
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