FINTECH AND BANKING: DETERMINANTS OF CUSTOMER SATISFACTION IN PAKISTAN

Abstract

This paper discusses the determinant of customer satisfaction of fintech services in the banking industry in Pakistan, and specifically, the moderating role of trust. Based on the Technology Acceptance Model (TAM) and the perceived risk theory, the study determines the use of information technology platforms, the perceived ease of use, risk associated with the service, and social influence as the important antecedents of trust, which in effect influence the overall customer satisfaction. Quantitative survey was conducted and analysed on 250 employed fintech users in the major Pakistani cities using SPSS 20.0. Structural regression and mediation analyses proved the significance and the positive effect of all four antecedent factors on trust (p < 0.01) and the strength of the influence of trust as a predictor of customer satisfaction. In addition, trust was confirmed as a strong partial mediator in all four antecedent-satisfaction pathways. These results have significant implications for Pakistani banks aiming to enhance fintech adoption, regulating bodies crafting enabling policy landscapes, and academics transferring belief systems to additional settings in emerging markets.

Keywords: Financial Technology (Fintech), Customer Satisfaction, Trust, Perceived Ease of Use, Social Influence, Information Technology Platform, Technology Acceptance Model (TAM) and Pakistan.