The perception and engagement of digital natives and digital immigrants toward a banking institution communications and promotional tools on social

Abstract

The evolution of technology and the introduction of Web 2.0 not only have changed the way communication takes place on the Internet, but it also has impacted business conduct in most industries around the world. The financial sector is no exception. Malaysia’s number one bank, Maybank has set a benchmark to Malaysia’s banking scene in terms of its commitment to evolve in sync with the rapidly growing digital environment by gradually introducing digital platforms for its customers to perform banking transactions. At the same time, Maybank embraced social media as part of its communication strategy in engaging with its customers. However, engagement particularly via digital platforms is complicated due to its vast customers from a variety of backgrounds-namely the Baby Boomers, Generation X, Y, Millennials, and Gen Z. Each of these generations experience digital differently as these consumers were born before, during or after the digital age. Hence for this research, the participants were categorized either as a Digital Immigrant or digital Native. This research utilized an in-depth interview to explore from both standpoints-the Digital Natives and digital Immigrants on Maybank’s customers’ perception on the more recent digital banking platforms and the use of social media for communication and promotion platforms utilized by Maybank. Overall, both Digital Natives and Digital Immigrants feel positive about the use of digital platforms for financial transactions, although there were some complications in making sense of the more recent applications introduced by the bank. These complications can be linked to the lack of information to explain the new application. From the findings, these customers have positive acceptance of information conveyed via social media platforms. However, both Digital Natives and Digital Immigrants recommended the necessity for mass media to be included in future communication campaigns for better reach and credibility.