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Behavioural Intention of Commercial Banks' Customers towards Financial Technology Services

Author

Listed:
  • Kwee Kim Peong

    (Multimedia University, Jalan Ayer Keroh Lama, 75450, Malacca, Malaysia Author-2-Name: Kwee Peng Peong Author-2-Workplace-Name: MLK Management Services, Jalan TTC Taman Teknologi Cheng, 75250 Malacca, Malaysia Author-3-Name: Kui Yean Tan Author-3-Workplace-Name: Multimedia University, Jalan Ayer Keroh Lama, 75450 Malacca, Malaysia Author-4-Name: Author-4-Workplace-Name: Author-5-Name: Author-5-Workplace-Name: Author-6-Name: Author-6-Workplace-Name: Author-7-Name: Author-7-Workplace-Name: Author-8-Name: Author-8-Workplace-Name:)

Abstract

Objective - The objective of this study is to determine the process that takes place in the employment of financial technology in the financial services industry. It is of utmost important that FinTech firms and commercial banks understand the predictors that can influence their consumers' decision to adopt FinTech services and to increase loyalty toward their services. Methodology/Technique � An online survey was used in the present research to explore factors that can influence commercial bank users' intention to use FinTech services in Malaysia. The data for the current study was gathered from bank users who aged at least 18 years old and resided in Malacca, Malaysia whom accessed FinTech services via smartphone. This research also employed the convenient sampling in distributing online questionnaires to 400 respondents who had successfully completed and returned the questionnaires. Findings � The empirical findings illustrate that trust, social influence, cyber-security risks and privacy risks are the most influential determinants that affect bank customers' behavioural intention to use FinTech services in Malaysia. Novelty � This research contributes to the theory of TAM, UTAUT and TPB by proposing a direct effect of trust, social influence, cyber-security risks and privacy risks on the adoption of FinTech services. The findings of the current study will be beneficial to policymakers, specifically financial institutions and FinTech firms as they will be informed on workable means to increase the quality of FinTech applications/websites. This can yield greater intentions to adopt FinTech. Stakeholders should play their important role in noticing and considering the influential factors that can impact the consumers' behavioural intention for using technologies in their policies to fulfil the users' needs. Type of Paper - Empirical

Suggested Citation

  • Kwee Kim Peong, 2021. "Behavioural Intention of Commercial Banks' Customers towards Financial Technology Services," GATR Journals jfbr180, Global Academy of Training and Research (GATR) Enterprise.
    • Handle: RePEc:gtr:gatrjs:jfbr180
    DOI: https://doi.org/10.35609/jfbr.2021.5.4(2)
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    References listed on IDEAS

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    1. Peter Gomber & Jascha-Alexander Koch & Michael Siering, 2017. "Digital Finance and FinTech: current research and future research directions," Journal of Business Economics, Springer, vol. 87(5), pages 537-580, July.
    2. George Okello Candiya Bongomin & Joseph Ntayi, 2019. "Trust: mediator between mobile money adoption and usage and financial inclusion," Social Responsibility Journal, Emerald Group Publishing Limited, vol. 16(8), pages 1215-1237, October.
    3. Fahmi Ali Hudaefi, 2020. "How does Islamic fintech promote the SDGs? Qualitative evidence from Indonesia," Qualitative Research in Financial Markets, Emerald Group Publishing Limited, vol. 12(4), pages 353-366, March.
    4. Agrata Gupta & Chun Xia, 2018. "A Paradigm Shift in Banking: Unfolding Asia’s FinTech Adventures," International Symposia in Economic Theory and Econometrics, in: Banking and Finance Issues in Emerging Markets, volume 25, pages 215-254, Emerald Group Publishing Limited.
    Full references (including those not matched with items on IDEAS)

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    More about this item

    Keywords

    Trust; Social Influence; Cyber-Security Risks; Privacy Risks; Behavioural Intention to Use;
    All these keywords.

    JEL classification:

    • G02 - Financial Economics - - General - - - Behavioral Finance: Underlying Principles
    • G21 - Financial Economics - - Financial Institutions and Services - - - Banks; Other Depository Institutions; Micro Finance Institutions; Mortgages

    NEP fields

    This paper has been announced in the following NEP Reports:

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