Determination of Factors Influencing Bank Clients’ Willingness for the Private Data Disclosure to the Financial Organization and Brand Trust of the Financial Organization

Studies on investigating the influence of information privacy and disclosure personal information on relationships between clients and firms develop last years. In parallel, with the rapid development of e-commerce and electronic service the concept of privacy was measured within online context. Studies devoted to financial spheres, especially e-banking, also touch upon the topic of privacy and its influence on communication with a customer. We conducted a survey, collecting responses from 200 respondents. The analysis of the results and testing of hypotheses based on the model was carried out using the structural equation modeling method. Our hypotheses were mostly confirmed. It was proved that the factor of the client's willingness to share personal information is formed on the basis of factors of a lower order: the convenience of the service, the personalization of the service, the financial reward while using the service, the perceived security of the data, and awareness about the rules for maintaining data confidentiality. The perceived control over personal data by the client, which we also considered as a formative factor, turned out to be low in the formation of the client's willingness to share personal information. The second hypothesis was fully confirmed: brand trust has a positive effect on the client's willingness to share personal data with a financial institution.