E-Banking Convergence and the Adopter's Behavior Changing Across EU Countries.

The concepts of internet banking and mobile banking have led to changes in people's financial behavior in terms of earning, consuming, and saving. This new concept, which entered the market quite recently, was used at the beginning of the new digital technology in various types of activities, banking operations, and nowadays these services are used by all people who want to save through banks or create new sources of income, as well as to make quick currency exchanges without going to credit institutions. The main purpose of this paper is to analyze people's behavior toward new digital technologies, e-banking adoption, and non-banking financial institutions internet services. The objectives pursued are: whether e-banking users are homogeneous in their characteristics in the EU 27 and which users have the most convergent or divergent behavior in the EU 27. Statistical data taken from Eurostat 2023 was used for the Sigma convergence analysis, the time series taken into consideration being from 2004 to 2022. The results showed that the changes in the procedural-fiscal-financial sphere are the ones that fully reflect the two principles underlying the tax evolution: digitization and simplification. These results confirm that people are adopting the new digital technology and change their behavior from consumer to prosumer. The study shows that all most categories adopted e-banking using new digital technologies when it comes to consumption and saving, with few exceptions that should be carefully supported. Plain Language Summary: E-Banking convergence and the adopter's behaviour within the EU Countries The concepts of internet banking and mobile banking have led to changes in people's financial behavior in terms of earning, consuming, and saving. This new concept, which entered the market quite recently, was used at the beginning of the new digital technology in various types of activities, banking operations, and nowadays these services are used by all people who want to save through banks or create new sources of income, as well as to make quick currency exchanges without going to credit institutions. The main purpose of this paper is to analyze people's behavior towards new digital technologies, e-banking adoption, and non-banking financial institutions internet services. The objectives pursued are: whether e-banking users are homogeneous in their characteristics in the EU 27 and which users have the most convergent or divergent behavior in the EU 27. Statistical data taken from Eurostat 2023 was used for the Sigma convergence analysis, the time series taken into consideration being from 2004 to 2022. The results showed that the changes in the procedural-fiscal-financial sphere are the ones that fully reflect the two principles underlying the tax evolution: digitization and simplification. These results confirm that people are adopting the new digital technology and change their behavior from consumer to prosumer. The study shows that all most categories adopted e-banking using new digital technologies when it comes to consumption and saving, with few exceptions that should be carefully supported. Digital transformation is not just about buying new, modern equipment, or retrieving data quickly and securely, but also about the technical implementation of state-of-the-art IT systems. It should be noted that digitization has had important effects on both public and private organizations and people, which can be translated as follows: time saved in people's interaction with public and private organizations; efficiency in administrative processes; transparency in their work. The economic environment becomes much more attractive and leads to investment and innovation in all areas. The digitization of all public or private services would also strengthen the administrative capacity of the whole population. Through studies, research, and future studies, it is essential to analyze and demonstrate that new digital technologies and their use could lead to the elimination of tax fraud, increased public confidence in local or central government and confidence in business. Finally, we can say that it is essential that new research in the field of digitization and e-banking use strengthens the literature reviews and explains at a higher level the answers to all research questions. [ABSTRACT FROM AUTHOR]