Consumers’ Perspective Toward Fintech Disruption in Financial Services—A Structural Equation Modeling Approach

T. Mahesh Kumar (), K. Abinaya (), Manjari Sharma () and Sharad Gupta ()
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T. Mahesh Kumar: Christ (Deemed to be University)
K. Abinaya: KPR College of Arts Science & Research
Manjari Sharma: Christ University
Sharad Gupta: Christ (Deemed to be University)

A chapter in The Synergistic Effect of Sustainable Business Practices on Corporate Performance, 2025, pp 91-102 from Springer

Abstract: Abstract 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 Tomorrow’s 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.

Keywords: Fintech; Financial services; Consumers’ perspective; Awareness and Structural Equation Modeling (search for similar items in EconPapers)
Date: 2025
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Persistent link: https://EconPapers.repec.org/RePEc:spr:sprchp:978-981-96-3375-3_6

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DOI: 10.1007/978-981-96-3375-3_6

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