Factors Influencing User Retention and User Experience in Malaysian Fintech

Mohd Fairuz Adnan, Erisya Nadira Efendi, Muhammad Wafiy Asyraf Zamri, Nuremilianatasha Ridwan and Yusrah Yusoff
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Mohd Fairuz Adnan: Faculty of Accountancy, University Technology MARA, Cawangan Selangor, Kampus Puncak Alam, Selangor, Malaysia.
Erisya Nadira Efendi: Faculty of Accountancy, University Technology MARA, Cawangan Selangor, Kampus Puncak Alam, Selangor, Malaysia.
Muhammad Wafiy Asyraf Zamri: Faculty of Accountancy, University Technology MARA, Cawangan Selangor, Kampus Puncak Alam, Selangor, Malaysia.
Nuremilianatasha Ridwan: Faculty of Accountancy, University Technology MARA, Cawangan Selangor, Kampus Puncak Alam, Selangor, Malaysia
Yusrah Yusoff: Faculty of Accountancy, University Technology MARA, Cawangan Selangor, Kampus Puncak Alam, Selangor, Malaysia

International Journal of Research and Innovation in Social Science, 2025, vol. 9, issue 3, 3259-3272

Abstract: The emergence of financial technology (Fintech) has brought about a transformative shift in consumer experiences within the financial sector, both nationally and globally, including Malaysia. Over the past decade, Malaysia has witnessed a rise in adopting Fintech services such as online banking and mobile payments, establishing Fintech as a crucial tool for businesses in the country. However, despite its widespread usage, some individuals still hesitate to embrace Fintech services for various reasons. In this highly competitive Fintech market environment, customer retention is vital in sustaining a business. To gain a competitive advantage, companies need to understand the factors influencing customer experience and retention in Fintech services from the customers’ perspective. This conceptual study utilizes a simple Systematic Literature Review (SLR) approach to propose a conceptual framework that investigates the relationships between independent variables which are (1) personalization, (2) security, (3) efficiency and seamless transactions and customer experience and retention in Fintech through a comprehensive article review. Delving into these factors aims to enhance our understanding of how they impact customers’ desire and hesitancy in adopting fintech services. Based on these insights, recommendations can be made for the fintech sector to maintain customer retention in fintech services effectively.

Date: 2025
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