The Impact of Fintech on Customer Satisfaction and Its Intention to Use: an Empirical Study

Abstract

The evolution of Financial Technology is the most essential for any financial institution to acquire new customers and to retain them. However, the customers’ awareness level and their intention to use / adapt to new technology is always questionable, since it leads to customer satisfaction and loyalty to stay with same brand. Considering the need the present study is intended to understand the customers’ perception and their satisfaction level with respect to using FinTech. Also the present study extended to assess the outcome of the customer satisfaction with respect to the intention to use Fintech for their future need. Scientific way of sample selection was adapted and collected responses from 400 people from Coimbatore district using structured questionnaire. A structural equation modelling was validated the proposed model comprising of seven factors with 56 variables used. The result of the study revealed that customers’ perceived usefulness and ease of use are having the highest level of influence with respect to customer satisfaction and its intention to use Fintech. The outcomes of each variables used along with its significant impact are discussed in detail in this research paper.