Banking goes digital: The adoption of FinTech services by German households

Moritz Jünger and Mark Mietzner

Finance Research Letters, 2020, vol. 34, issue C

Abstract: Germany is falling behind its peers in adopting new digital technologies and financial services offered by non-bank high-tech startups (e.g., FinTech). Using survey data, we analyze which FinTech services households are likely to adopt. Our results indicate that a household's level of trust and comfort with new technologies, financial literacy, and overall transparency impact its propensity to switch to a FinTech. Specifically, households with low levels of trust, good financial education, and preference for transparency are characterized by a higher probability of adopting FinTech. In contrast, household price perceptions do not appear to significantly impact switching probability.

Keywords: Non-bank financial institutions; FinTech (financial technology); Digital banking; Financial services; Switching behavior; Technology acceptance model (search for similar items in EconPapers)
JEL-codes: D8 E21 G2 G23 (search for similar items in EconPapers)
Date: 2020
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (53)

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Persistent link: https://EconPapers.repec.org/RePEc:eee:finlet:v:34:y:2020:i:c:s154461231930296x

DOI: 10.1016/j.frl.2019.08.008

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