ARE FINTECH COMPANIES A SUBSTITUTION TO BANKS – A STUDY ON IDENTIFYING THE DETERMINANTS INFLUENCING THE CUSTOMERS’ PERCEIVED EXPERIENCE OF SERVICES OFFERED.
Keywords:
Digital Payment, E-Commerce, Automation Technology, Customer-Perceived Experience.Abstract
Gen Z seeks wine in a new bottle, in a way – financial services are wrapped by the FinTech companies, as novel technology. FinTech is a hybrid of the finance and IT industry, that provides all kinds of financial services with the use of innovative information and automation technology. Drastic advancement in technology and digital platforms ushering the financial industry into a new avatar. Due to the emerging sector of FinTech, banking sectors are under pressure to mitigate the competition, the banking industry has been forced to implement various kinds of technology-based payment systems, e-commerce, investment, and so on. This article analyses the various factors that determine the customer-perceived experience of services offered by FinTech Companies and its impact on customer satisfaction and an alternate industry for the banking sector. Data are processed in SPSS and AMOS, to concise the impact of overall satisfaction of FinTech to Substitution of the Banking sector.
