A framework for ethical data use to improve personalised customer experience in the financial industry in South Africa
Abstract
The financial services industry deals daily with vast amounts of data. In this study, the researcher
intends to investigate if data is used ethically for the purpose of analytics within this industry. The aim
of this study is to determine if financial institutions have the means to manage ethical behaviour when
analysing data that has been collected. As such, this study explores the awareness and governance
around the ethical use of data within financial services. It also investigates how the relationship
between customers and data analytics impacts their experiences, by exploring concepts of trust,
transparency, and privacy of customer data. The study proposes a conceptual framework to support
the ethical use of data, specifically in the financial services sector.