Impact of Fintech Adoption on Customer Experience in the Indian Banking Sector

Author

V. Vijaya Chandrika, Dr. Venkateswararao Podile, Guduri Nagaveni


Abstract

 The expansion of Fin Tech has caused a revolution in how Indian customers interact with banks, but minimal research address the combined issue of Fin Tech adoption, customer satisfaction and customer experience. This paper investigates the influence of Fin Tech adoption on customer experience in India, while customer satisfaction is posited as a mediating variable. A quantitative cross-sectional survey involving a structured five-point Likert questionnaire was completed by 109 bank customers sampled conveniently. Responses were analysed in MS Excel by descriptive statistics, Cronbach's alpha, chi-square tests, one-way analysis of variance (ANOVA), simple and multiple linear regressions as well as Sobel test. Fin Tech adoption was rated high (M = 3.68, SD = 0.56) and contributed significantly to the variance in customer experience (β =.781, R2 =.610, p <.001) and customer satisfaction (β =.765, R2 =.586, p <.001); but customer satisfaction did not mediate this relationship (indirect effect = 0.01, Sobel p =.910), though the direct impact of adoption was almost unaffected by controlling for satisfaction. Customer experience was not associated with the respondents' gender, occupation, period of use, or frequency of use while age was weakly related to the depth of experience (χ2 = 6.00, p =.0498). In the multiple linear regression model, service quality and customisation emerged as the significant dimensions of Fin Tech adoption. The paper concludes with the practical implication that banks should focus on dependable and customised digital services.


Keywords

Fin Tech; Technology adoption; Customer experience; Customer satisfaction; Digital banking; Indian banking; Mediation analysis.



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References


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