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Evidence On Usage Behavior And Future Adoption Intention Of Fintechs And Digital Finance Solutions

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  • Johannes M. Gerlach
  • Julia K. T. Lutz

Abstract

Financial Technology Companies are gaining popularity and becoming more relevant within financial services industries worldwide. This growth can be encouraged by the EY FinTech Adoption Index, which indicates a global average FinTech Adoption of 33.0% in 2017. With regard to Financial Technology Companies and Digital Finance Solutions, this figure emphasizes the importance of this study’s objective to identify potential determinants of current use behavior and future usage intention. To both theoretically and empirically address this research question, we conducted a questionnaire-based survey with 381 participants from three German universities. Because our study bases on both the theory of reasoned action and the unified theory of acceptance and usage of technology 2, we contribute not only to the general understanding of Financial Technology Companies and Digital Finance Solutions but also to the existing literature on behavioral intention and technology acceptance. Thus, we contribute to several strands of literature. However, based on this study’s results, we defined certain fields of interest and derived corresponding strategic and managerial implications from the viewpoint of traditional financial institutions. Moreover, we contribute to the practical solution of the current challenges faced by traditional financial services providers. Finally, based on our analyses, we identify future research opportunities regarding these important issues.

Suggested Citation

  • Johannes M. Gerlach & Julia K. T. Lutz, 2019. "Evidence On Usage Behavior And Future Adoption Intention Of Fintechs And Digital Finance Solutions," The International Journal of Business and Finance Research, The Institute for Business and Finance Research, vol. 13(2), pages 83-105.
    • Handle: RePEc:ibf:ijbfre:v:13:y:2019:i:2:p:83-105
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    References listed on IDEAS

    as
    1. Johannes M. Gerlach & Daniel Rugilo, 2019. "The Predicament of FinTechs in the Environment of Traditional Banking Sector Regulation – An Analysis of Regulatory Sandboxes as a Possible Solution," Credit and Capital Markets, Credit and Capital Markets, vol. 52(3), pages 323-373.
    2. Marianne Bertrand & Erzo F. P. Luttmer & Sendhil Mullainathan, 2000. "Network Effects and Welfare Cultures," The Quarterly Journal of Economics, Oxford University Press, vol. 115(3), pages 1019-1055.
    3. 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.
    4. Barakat, Ahmed & Hussainey, Khaled, 2013. "Bank governance, regulation, supervision, and risk reporting: Evidence from operational risk disclosures in European banks," International Review of Financial Analysis, Elsevier, vol. 30(C), pages 254-273.
    5. Dong He & Ross B Leckow & Vikram Haksar & Tommaso Mancini Griffoli & Nigel Jenkinson & Mikari Kashima & Tanai Khiaonarong & Celine Rochon & Hervé Tourpe, 2017. "Fintech and Financial Services; Initial Considerations," IMF Staff Discussion Notes 17/05, International Monetary Fund.
    Full references (including those not matched with items on IDEAS)

    Citations

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    Cited by:

    1. Mahmood Al-Bashayreh & Dmaithan Almajali & Manaf Al-Okaily & Ra’ed Masa’deh & Ahmad Samed Al-Adwan, 2022. "Evaluating Electronic Customer Relationship Management System Success: The Mediating Role of Customer Satisfaction," Sustainability, MDPI, vol. 14(19), pages 1-23, September.
    2. Gerlach, Johannes M. & Lutz, Julia K.T., 2021. "Digital financial advice solutions – Evidence on factors affecting the future usage intention and the moderating effect of experience," Journal of Economics and Business, Elsevier, vol. 117(C).
    3. Niyati Jain & T. V. Raman, 2022. "A partial least squares approach to digital finance adoption," Journal of Financial Services Marketing, Palgrave Macmillan, vol. 27(4), pages 308-321, December.

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    More about this item

    Keywords

    Fintech; Digital Finance Solutions; Technology Adoption; Current Use Behavior; Future Usage Intention; Behavioral Intention; Consumer Behavior; Theory of Reasoned Action (TRA); Unified Theory of Acceptance and Usage of Technology 2 (UTAUT2);
    All these keywords.

    JEL classification:

    • G10 - Financial Economics - - General Financial Markets - - - General (includes Measurement and Data)
    • G20 - Financial Economics - - Financial Institutions and Services - - - General
    • G21 - Financial Economics - - Financial Institutions and Services - - - Banks; Other Depository Institutions; Micro Finance Institutions; Mortgages
    • G22 - Financial Economics - - Financial Institutions and Services - - - Insurance; Insurance Companies; Actuarial Studies
    • G23 - Financial Economics - - Financial Institutions and Services - - - Non-bank Financial Institutions; Financial Instruments; Institutional Investors
    • G24 - Financial Economics - - Financial Institutions and Services - - - Investment Banking; Venture Capital; Brokerage
    • M13 - Business Administration and Business Economics; Marketing; Accounting; Personnel Economics - - Business Administration - - - New Firms; Startups
    • M31 - Business Administration and Business Economics; Marketing; Accounting; Personnel Economics - - Marketing and Advertising - - - Marketing
    • O33 - Economic Development, Innovation, Technological Change, and Growth - - Innovation; Research and Development; Technological Change; Intellectual Property Rights - - - Technological Change: Choices and Consequences; Diffusion Processes

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