Switching Intentions Among Millennial Banking Customers to Fintech Lending

Muhammad Anif Afandi

17 citations0/0 files storedInternational Journal of Islamic Economics and Finance (IJIEF)

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FinTech, Crowdfunding, Digital Finance Customer Service Quality and Loyalty Technology Adoption and User Behaviour

Abstract

The purpose of this study is to analyze of switching intentions among millennial banking customers to the financing services of FinTech lending in Indonesia using the PPM framework. 245 primary data were collected by Likert 5 scale category which was subsequently conducted data analysis using the OLS method. The results showed that in the perspective of push effects, all factors have no significant effect on switching intentions or in other words the millennial banking customers have considered that credit/financing services in banking is quite good that it does not encourage them to switch. In the perspective of pull effects, ease of use and pricing benefit factors of FinTech lending have significant effect on switching intentions so that it attracts them to switch. Meanwhile, in the perspective of mooring effects, the factors of service products and reputation significantly affect switching intentions so as to impede them to switch. In addition, Islamic banking customers are known to have higher potential to switch to the financing services of FinTech lending. The results of this study provide useful information for the banking industry, FinTech lending and regulators to be able to develop strategies and effective policies amid the potential of customer switching

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References

1994Book Review: Marketing Research: An Applied Orientation 2017The Fourth Industrial Revolution 2004"Migrating" to New Service Providers: Toward a Unifying Framework of Consumers' Switching Behaviors 2017Understanding users' switching behavior of mobile instant messaging applications: An empirical study from the perspective of push-pull-mooring framework 2016Travelers' switching behavior in the airline industry from the perspective of the push-pull-mooring framework 2019Easy come or easy go? Empirical evidence on switching behaviors in mobile payment applications 2017The power of a thumbs-up: Will e-commerce switch to social commerce?2018An empirical investigation of users’ voluntary switching intention for mobile personal cloud storage services based on the push-pull-mooring framework

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2023Why do bank customers switch? A systematic literature review 2022Factors Affecting Investor Switching Intention to Fintech Peer-To-Peer Lending 2023From bank to P2P lending: switching intention of SME’s: evidence from Indonesia 2023Analysis of the Factors Influencing Customer Switching Behaviour of The Millennials in Digital Banks

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