Consumers Perspective Toward Fintech Disruption in Financial ServicesA Structural Equation Modeling Approach
subject: Awareness and Structural Equation Modeling; Consumers perspective; Financial services; Fintech
description: For nearly a decade, banks have faced an unprecedented array of challenges, with shrinking revenues and intense pressure from consumers and regulators. Compounding this tough environment is a powerful new force that has emerged to challenge banks, financial technology (FinTech) firms. These innovative start-ups are striving to take a share of financial services customers, products, and revenue. Financial Consumer Demands for Tomorrows Digital Bank, investigated what consumers value from their main financial service provider and how well banks are meeting consumers needs. The study revealed a demand for value-added services that supplement traditional banking products, while also solidifying the importance of seamless, anytime/anywhere, omni-channel service channels. This study is such an attempt to analyze the consumer perspective based on the Fintech Disruption in Financial Services in Pune city among 150 respondents. The tools used for this study are ANOVA, regression analysis, and structural equation modeling (SEM). Hence, this study concludes that financial institutions have a lot on their plate: emerging competitors, shifting demographics, rising customer expectations, and changing regulations. Technology offers solutions, allowing financial institutions to cut costs and become more efficient at what they do. 2025 The Editor(s) (if applicable) and The Author(s), under exclusive license to Springer Nature Singapore Pte Ltd.
creator: Mahesh Kumar, T.; Abinaya, K.; Sharma, Manjari; Gupta, Sharad
source: The Synergistic Effect of Sustainable Business Practices on Corporate Performance;pp.91-102
publisher: Springer Science+Business Media
date: 01-01-2025
rights: Restricted Access; Hardcopy may be available in the library
relation: ISBN: 978-981963375-3; 978-981963374-6;
language: English
type: Book chapter
coverage: Mahesh Kumar T., Department of Commerce, Christ (Deemed to be University), Pune, India; Abinaya K., Department of Commerce (CA), KPR College of Arts Science & Research, Coimbatore, India; Sharma M., School of Commerce, Finance and Accountancy, Christ University, Pune, India; Gupta S., School of Business and Management, Christ (Deemed to be University), Pune, India