10 research outputs found
MoĹľnosti sledovánĂ trendu ve zpoplatnÄ›nĂ základnĂch bankovnĂch sluĹľeb
PĹ™ĂspÄ›vek se zabĂ˝vá problematikou klientskĂ˝ch nákladĹŻ („poplatků“) spojenĂ˝ch s uĹľĂvánĂm účtĹŻ fyzickĂ˝ch osob a celkovou nepĹ™ehlednostĂ v sazebnĂcĂch jednotlivĂ˝ch bank. Na základÄ› dat z Kalkulátoru bankovnĂch poplatkĹŻ bude provedena analĂ˝za zĂskanĂ˝ch dat a vypoÄŤteny KlientskĂ© a BankovnĂ indexy. U 45 účtĹŻ vedenĂ˝ch 21 bankami v ÄŚeskĂ© republice budou sledovány a porovnávány výše jejich poplatkĹŻ. CĂlem pĹ™ĂspÄ›vku je ukázat na potĹ™ebu neustálĂ© nutnosti se informovat o nákladech na vedenĂ svĂ©ho účtu a konkurenÄŤnĂch produktech. Na základÄ› praktickĂ© aplikace je zde nastĂnÄ›na moĹľnost, jak sledovat aktuálnĂ vĂ˝voj v nákladech na vedenà účtĹŻ jednotlivĂ˝ch bank
The defense of price discrimination in network and information goods markets
There can be found many articles in which price discrimination was swiftly considered as a negative phenomenon, mainly behavioural economy studies. Such studies described it as pricing leading to consumer-detrimental effects and increasing companies’ profits. However, this rule is not as universal as it may seem. The case is more complicated because exceptions do exist, and they are far from rare – software, cell carrier services, real-time stock quotes, electronic newspapers subscription, electric energy supply, payment accounts, books, copyrighted content streaming, file storage, and more. These information and network goods were often treated as any mass-produced physical goods, which is not an adequate approach. The article’s ambition is to contribute to a change. I hope that after reading the article, you would agree that price discrimination in the case of information and network goods should be viewed by different optics
Retail core banking services e-banking client cluster identification
AbstractThis paper is focused on retail core banking services market in the Czech Republic. There are presented the data analysis outcomes from expert web-system for client’s bank costs computation and real-time bank offer comparison. Using nonhierarchical cluster analysis there are identified 5 client profiles by specific frequencies of bank services usage. Paper reveals that among the e-banking population there are expectable clusters so the unexpected cluster small businessmen that are not supposed to use retail products and cluster of strong desk usage preference clients by contrast to activated e-banking
How does a retail payment account consumer changes over time? Usage rate behavioral segmentation from 2010 till 2016 in the czech republic
The paper is focused on retail payment account consumers with account access via e-banking. Firstly, the goal is to provide payment account usage profiles at the level of payment instruments. Secondly, to assess the development of identified profiles during the crisis and post-crisis year 2010-2016 in the Czech Republic. The two-step cluster analysis sample segmented 16,392 individual payment account usage records. Three clusters were identified: price-driven, active, and low balance/overdraft user. The clusters were mainly separated by an ATM usage and average balance. Payment instruments showed a less significant difference. The first cluster showed exclusive preference of own bank’s ATM network. The second cluster manifested the highest usage frequencies and the broadest range of services. The third cluster had average account balance below zero with most of the consumers declaring an average balance from €-925 to €370. A steady trend of change was found regarding the demand structure. The price-driven profile was a mainstream consumer segment till 2014. The active consumer segment became dominant in 2015 due to a steady trend of price-driven profile share loss. The third cluster’s share remained stable over the surveyed period. The next change in consumer typology was related to the usage rate. All clusters showed an increase in ATM usage over time. Price-driven cluster steadily increased ATM withdrawal abroad from technical zero to 0.4 per month. Active profile and low balance/overdraft user increased domestic ATM usage by almost one withdrawal per month. Direct payments showed an increase over time as well. Direct payments shared trend of increase in average by one payment per month, in a case of the price-driven profile by two
Modern Payment Methods Improving the Effectiveness of Social Benefit System – Implementation Failure in the Czech Republic
AbstractThe paper describes the issue of electronic welfare benefits payment card. This new noncommercial-banking product was meant to be a new tool of effectiveness in the social benefit system in the Czech Republic. The goal was effectiveness in costs, transaction time reduction and directness. However the implementation scheme turned out to be defective from design. At first the paper describes a new system of welfare benefit payment where the commercial bank is implemented as a service provider. Then the main implementation issues such the provider contract, the obligatory duty of card usage, the range of services, possible personal data misuse are described. The problem got as far as payment system provider Česká spořitelna starts to assess if the project is interesting anymore. At the end the paper assesses the current project progress and the future
Modern Payment Methods Improving the Effectiveness of Social Benefit System – Implementation Failure in the Czech Republic
Cluster analysis of the demand side of the retail core banking services market
This paper is focused on the retail core banking services market. The demand side of this market
is affected by the negative effects of the information asymmetry. European Union authorities are
aware of that as they monitor the situation as well as they set out possible solutions that should
reduce the main sources of asymmetry – offer opacity and the lack of offer comparison tools. In
the Czech Republic there was introduced independent comparison tool project in the 2010. This
system’s database holds more than 15,000 answers about the day-to-day usage. This serves as
a data source for our analysis. The aim is to classify the Czech working age e-banking clients, i.e. to
identify basic retail core banking services usage patterns. As preparations there were performed
verification-validation phase, logarithmical transformation and dimension reduction by principal
component analysis. The two-step cluster analysis was performed on 8,549 members classified by
19 variables concerning the type of the service, moth usage frequency or average amount of mo-
ney, communication channel used to order the service and the bank the money were transferred to.
Analysis indentified as an optimal number of clusters 3. There were identified mainstream client,
more active client and the client with the “at the desk” preference. Sub-optimal, but still accepta-
ble, solution was consisted of 4 clusters: mainstream client with his or hers own bank preference,
mainstream client with other bank preference, less active client and “at the desk” preference cli-
ent. Identified clusters don’t just describe the demand side as standard marketing research output
but they can be used again as an information asymmetry reduction tool
Forecasting of the stock price using recurrent neural network – long short-term memory
We employ a recurrent neural network with Long short-term memory for the task of stock price forecasting. We chose three stocks from the same sub-industry: Visa, Mastercard, and PayPal. This paper aims to test the LSTM network's prediction on stock prices and propose the best settings for selected stock price forecasting. The secondary goal is to assess how the settings differed in the case of two highly correlated stocks (Visa-Mastercard year correlation coefficient average: 0.97) and the case of only weak correlated stock (Visa-PayPal correlation coefficient average: 0.39). We tested 117 different settings of LSTM neural networks. The settings differed by the number of epochs/splits (from ten to fifty-eight by the step of four) and the range (minute, hour, and day). Our dataset was the stock price from 1.6.2020 to 15.1.2021. The best performing network has been trained on a 10-day period for Visa and 10-minute for Mastercard and PYPL. However, the differences were negligible, so we did not find the number of epochs as a key setting, unlike in the case of FOREX
Consequences of Industry 4.0 in Business and Economics
The introduction of information technology into all aspects of our lives has brought forth qualitative and quantitative changes on such a large scale that this process has come to be known as the Fourth Industrial Revolution, or Industry 4.0. The aim of this paper is to fill in the gaps and provide an overview of studies dealing with Industry 4.0 from the business and economic perspectives. A scoping review is performed regarding business, microeconomic and macroeconomic economic problems. Four investigators performed a literature search of the Web of Science, Scopus, and Science Direct. The selected period spanned from 2014 to 2018, and the following keywords were used for the search: Industry 4.0, economics, economic development, production economics, and financial sector. A total of 2275 results were returned. In all, 67 full papers were screened. Results obtained from the relevant studies were, furthermore, divided into the following categories: work and skills development; economy growth and macroeconomic aspect; sustainability; intelligent manufacturing; policy; and change in business processes. Findings show that the aspects of work and skills development, smart technology adoption, intelligent manufacturing, and digitalization are very well described. The government and its policies usually play the role of a needed supportive element. Usually studies lack a coherent view of the topic in question and solve partial questions
Analysis of the Banking Sector in the Czech Republic
International audienceForty-six banks and foreign bank branches were operating in the Czech Republic in May 2018. The banking market in the Czech Republic is characterized by high fees for account management and information asymmetries. For this reason, there are number of fees accounts comparators on the market. One of these is the Bank Charge Calculator, which allows clients to run their current account expenditures by their set criteria. The aim of the article is to analyze the current state of the banking sector for individuals. Based on data from the Bank Charge Calculator, a Client Index is calculated to allow respondents to calculate the average monthly cost of running their current account according to defined criteria and service requirements. The value of this Client Index was used to propose a pay-off function in the game theory model. Client Index values serve to express the price level on the RCBS market