Market-oriented corporate digital responsibility to manage data vulnerability in online banking

Purpose This conceptual paper explores gaps in bank privacy protection practices and advocates for banks to integrate market-oriented (MO) approaches in their corporate digital responsibility (CDR) initiatives to minimize consumer data vulnerability. Design/methodology/approach To apply MO in CDR, this study recommends adoption of a behavior change framework comprising of the co-creation, build and engage (CBE) model and proposes the creation of consumer segments based on generational cohort and tailoring strategies through motivation, opportunity and ability (MOA) model to manage vulnerability. Findings The study specifies that managing consumer data vulnerability requires a unique strategy different from conventional service delivery. A holistic approach is recommended by integrating corporate digital responsibility as a pivotal element of organizational strategy and by positioning vulnerable customers as a critical stakeholder. Originality/value The paper contributes to the research in corporate social responsibility (CSR), privacy and data vulnerability in the banking sector in two prominent ways: first, the study demonstrates the importance of MO as a premise to develop a novel version of CDR called market-oriented digital responsibility (MODR). The study considers MODR as a strategy to reposition vulnerable consumers as a key stakeholder, and, second, the study proposes an innovative set of consumer segments based on data vulnerability and introduces a data vulnerability growth model (DVGM) connecting vulnerability with age.