Dorfleitner, Gregor and Hornuf, Lars and Kreppmeier, Julia (2023) Promise not fulfilled: FinTech, data privacy, and the GDPR. ELECTRONIC MARKETS, 33 (1): 33. ISSN 1019-6781, 1422-8890
Full text not available from this repository. (Request a copy)Abstract
This article analyzes how the General Data Protection Regulation (GDPR) has affected the privacy practices of FinTech firms. We study the content of 276 privacy statements respectively before and after the GDPR became binding. Using text analysis methods, we find that the readability of the privacy statements has decreased. The texts of privacy statements have become longer and use more standardized language, resulting in worse user comprehension. This calls into question whether the GDPR has achieved its original goal-the protection of natural persons regarding the transparent processing of personal data. We also link the content of the privacy statements to FinTech-specific determinants. Before the GDPR became binding, more external investors and a higher legal capital were related to a higher quantity of data processed and more transparency, but not thereafter. Finally, we document mimicking behavior among FinTech industry peers with regard to the data processed and transparency.
| Item Type: | Article |
|---|---|
| Uncontrolled Keywords: | ONLINE PRIVACY; READABILITY; ECONOMICS; INFORMATION; DISCLOSURE; POLICIES; CONSUMER; BEHAVIOR; QUALITY; MODEL; Data privacy; FinTech; General Data Protection Regulation; Privacy statement; Textual analysis; Financial technology; K200; L810; M13 |
| Subjects: | 300 Social sciences > 330 Economics |
| Divisions: | Business, Economics and Information Systems > Institut für Betriebswirtschaftslehre > Lehrstuhl für Finanzierung (Prof. Dr. Gregor Dorfleitner) |
| Depositing User: | Dr. Gernot Deinzer |
| Date Deposited: | 14 Mar 2024 13:39 |
| Last Modified: | 14 Mar 2024 13:39 |
| URI: | https://pred.uni-regensburg.de/id/eprint/60110 |
Actions (login required)
 |
View Item |
