Multidimensional Research Insight is an international scholarly journal of social sciences which provides wide, excellent cross-disciplinary research papers. It aims at increasing the generation of new self-integration knowledge with an emphasis on interdisciplinary research which harnesses interests cut across discipline to find solutions to local and global amplifications. The published journal is intended to enhance the probability of domain spanning and allow researchers to focus on the discovery of the connections on one field and others, and provide the overviews which are not partial.
This review article explores consumer perception of robo-advisors, focusing on three critical dimensions: trust, adoption barriers and behavioral insights. Transformative financial technology, the Robo-advisor has come to be as many democratize access to the financial services space via automated investment management. Meanwhile, adoption is driven by many factors such as perceived technological reliability and data security. Using a systematic analysis of existing literature, this study identifies key drivers of trust — including transparency and brand reputation — as well as major barriers to adoption, including psychological discomfort and technological usability issues. Moreover, the review also considers the effects of consumer behaviors and preferences on interactions with robo-advisors. The findings highlight the need for more education and trust building efforts that encourage wider adoption of these digital platforms in the fast-changing financial landscape.
Robo-Advisors, Consumer Perception, Trust in Robo-Advisors, Adoption Barriers, Behavioral Finance.