Using an Extended Post-Acceptance Framework to Examine Consumer Adoption of Fintech

Jia Qi, Swarn Chatterjee, Sheri Worthy, Keith Herndon, Bartosz Wojdynski (2024). “Using an Extended Post-Acceptance Framework to Examine Consumer Adoption of Fintech.” International Journal of Bank Marketing. DOI:  IJBM-10-2022-0448.

Abstract: Emerging literature on fintech has shown that consumers have been slow to adopt fintech-based products and services. However, limited literature is available regarding the factors associated with consumers' adoption of these products and services. This study investigated the factors associated with consumer adoption of fintech-based products and services. The study found that fintech proficiency, investment risk tolerance and perceived safety are positively associated with the frequency of fintech application use upon adoption. Consumers are more likely to feel safer if they are more financially capable and technologically proficient. Consumers with higher risk tolerance tend to believe fintech apps are safe to use. Consumers with higher fintech proficiency are more likely to recognize the usefulness of fintech services. The results have practical implications for existing fintech companies, banks and financial institutions, policymakers and financial advisory practices considering adopting fintech-based services for their clients.

Note: This work was a collaboration between the Financial Planning department in Family and Consumer Sciences, Wojdynski's Digital Media Attention and Cognition (DMAC) Lab and Herndon's financial journalism training programs. The project was funded in part by a gift from the TrueFiduciary Institute Herndon facilitated through the Cox Institute for Journalism Innovation, Management & Leadership.