Sustainable Development of Fintech: Focused on Uncertainty and Perceived Quality Issues

Abstract

Despite high expectations for the growth of Fintech, it has not reached the expected growth in the real world. As Fintech is innovative but inherently unpredictable, customers are still hesitant to adopt and use Fintech, which ultimately affects its growth. To achieve the sustainable development and growth of Fintech, an in-depth investigation of Fintech continuance intentions is required. To investigate continuous-use behavior in a Fintech context, this study focuses on two relevant issues: uncertainty and information technology (IT) quality. Uncertainty is more critical in Fintech than in traditional e-banking transactions because Fintech transactions are complicated and less predictable. IT quality is also crucial to Fintech success because IT plays a key role in Fintech transactions. This study mainly explores the relationship between uncertainty and IT quality, both of which significantly affect Fintech continuance intentions. For the purpose, we integrated an IT quality–based perspective with a trust-based model to investigate Fintech continuance intentions. Our results demonstrate that system quality is negatively related to perceived risk, whereas information quality is positively related to trust. Service quality is the most important quality factor for controlling uncertainty and encouraging continued use of Fintech. We found a more extended role of IT in Fintech than in other digital services. This study provides Fintech providers with the practical guidance in the design and implementation of Fintech innovation, thereby achieving the sustainable development of Fintech.

Unlocking the Potential of Fintechs for Financial Inclusion: A Delphi-Based Approach

“…As two thirds of Brazilians are currently in debt and one fourth have delayed repayments [94], the danger of over-indebtedness and the need to protect consumers from predatory agents are quite pressing issues that cannot be neglected [31,95]. Consequently, government and regulators will have to pursue a balance between the ease of collection and enforcement of guarantees and appropriate consumer protection [96]. It is worth remembering that the difficulty in providing guarantees is one of the main obstacles to financial inclusion in Brazil [68].…”

Customer Experience in Fintech

“…Ease of use also contributes to the loyalty intentions of the customer [78,79]. Ease of use helps reduce the anticipated stress of adopting a fintech service [80,81]. Fintech companies favour ease of use through a multi-stage mechanism of conscientization, capacitation, incentivization, enrichment and cultivation [82].…”

“…Time is an important asset, especially because fintech services are used both by individuals and companies to gain efficiency and productivity. Customers engage with fintech companies to avoid travel to brick-and-mortar locations, to perform e-services and to beneficiate from the speed and ease of use associated with new technologies [81,85]. Perceived transaction speed influences the perceived effort to engage with fintechs, while the perceived transaction speed positively influences the behavioural intention to continue the relations with fintechs [100].…”

Examining the Factors Contributing to Fintech Peer-to-peer Lending Adoption

“…Because of the large and high-dimensional data involved in the service, the function of TR in financial technology application scenarios is even more essential. Previous research has shown the factors that affect TR in fintech innovation adoption, such as customer service and satisfaction [24]; brand image, government support, perceived risk [15]; and information quality and service quality [25]. Therefore, it is important to research how TR affects the attitudes of potential users and their willingness to adopt.…”