The challenge of consumer trust and security in fintech strategies

Anna Omarini

Chapter 3 in Research Handbook on FinTech, 2026, pp 48-69 from Edward Elgar Publishing

Abstract: Digitalization has been transforming the banking industry, providing customers with more choices, and makingenabling them to make more informed decisions when choosing a financial service. The value exchange has been moving from a transactional to a multidimensional value proposition with a shift in the service decision framework by recombining the balance between functional benefits and relational benefits. Technology empowers individuals and introduces new business frameworks (such as embedded finance, open banking, and open finance). This requires a new concept of trust; thus, the tech-customer centricity strategy is going to rely more on a wider spectrum of data management for provisioning customers with the best possible experience. Under these circumstances, the banking experience conveys the greatest functional, relational, and symbolic service benefits, delivered by a reliable, responsive, and trusted player. The chapter is organized as follows: The second paragraph and following set the scene, describing the digital transformation of consumer attitudes and behaviors. Paragraph three and the following describe the key factors influencing trust in fintech, highlighting some critical issues to manage proactively along the different verticals (payments, lending, investments, etc.). Finally, paragraph 4 highlights some main conclusions on the topic.

Keywords: Fintech; Trust; Customer experience; Customer centricity; Embedded finance; Open Banking; Open Finance; Business ecosystem; Unbundling (search for similar items in EconPapers)
Date: 2026
ISBN: 9781035321414
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