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Customers’ satisfaction with fintech services: evidence from Brazil

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Abstract

The financial sector is among those most affected by technological advances in information and communications. The existing literature on fintechs has mainly studied the intention to use their services. However, fintechs already have sufficient customers to justify investigations aimed at observing user satisfaction, so this study sought to identify the factors that influence customers’ satisfaction with fintech services. After develo** a structural model, quantitative and descriptive research was conducted. Data were collected from 294 fintech customers through an online questionnaire, and data analysis was performed through structural equation modeling using the partial least squares method. The results showed that fintechs’ customer satisfaction tends to be influenced by the perceived usefulness of the services, trust in fintech services and consumer innovativeness. Furthermore, fintechs’ customer satisfaction tends to be influenced by perceived ease of use through perceived usefulness and by perceived risk through trust. We concluded that if fintechs’ services are useful, reliable and consumed by customers who are open to innovation, there will be a greater tendency to achieve customer satisfaction. This study adds knowledge to the existing literature by relating the satisfaction of fintech users to constructs that have previously been studied in other technological environments.

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Funding

This research was supported by Brazilian National Council for Scientific and Technological Development (CNPq/Brazil), project 307202/2021-6, by Foundation for Research Support of Espírito Santo (FAPES/Brazil), projects 84513772 (599/2018) and 85395650 (228/2019), by Portuguese Science Foundation (FCT/Portugal) through NECE (Núcleo de Estudos em Ciências Empresariais), project UID/GES/04630/2020, and by IFTS (Instituto Fucape de Tecnologias Sociais), project 2021-2024.

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Authors and Affiliations

  1. FUCAPE Business School, 1358 Fernando Ferrari Av., Boa Vista, Vitória, ES, 29.075-505, Brazil

    Emerson Wagner Mainardes & Silvania Neris Nossa

  2. FUCAPE Business School, Maranhão Campus, 01-08 dos Holandeses Av., 2nd floor, São Luís, MA, 65077-635, Brazil

    Priscilla Maria Ferreira Costa

  3. Instituto Federal de Educação, Ciência e Tecnologia do Maranhão, Reitoria, Colares Moreira Av., 477-Jardim Renascença, São Luís, MA, 65075-441, Brazil

    Priscilla Maria Ferreira Costa

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  1. Emerson Wagner Mainardes
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Contributions

EWM and PMFC elaborated the research design and the tested model. SNN collaborated on the design of the survey. PMFC collected the data. EWM analyzed the data. SNN complemented the analysis and discussion. All authors read and approved the final manuscript.

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Correspondence to Emerson Wagner Mainardes.

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Mainardes, E.W., Costa, P.M.F. & Nossa, S.N. Customers’ satisfaction with fintech services: evidence from Brazil. J Financ Serv Mark 28, 378–395 (2023). https://doi.org/10.1057/s41264-022-00156-x

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