Paper ID
2297
Paper Type
full
Description
The ongoing digitalization in the financial services industry induces firms to implement financial technology in their digital processes to attract customers. However, research on mechanisms, by which financial technology affects customer intention to use financial processes, is very fragmented. Thus, relying on process virtualization theory, we study the effect of financial technology implementation on intention to use via relationship, synchronism, and identification and control readiness of processes. The results of our conjoint experiment with 302 participants indicate that relationship, synchronism, and identification and control readiness jointly transmit the effect of financial technology implementation on customer intention to use financial processes. Our results further suggest that financial technology implementation generally increases customer intention to use financial processes. Our study integrates research on financial technology and process virtualization by explaining customer intention to use processes with financial technology through process readiness, and supports practitioners in addressing the needs of financial services customers.
Recommended Citation
Verbovetska, Anna, "The Impact of Financial Technology on Customer Intention to Use Financial Services through the Lenses of Process Virtualization Theory" (2019). ICIS 2019 Proceedings. 8.
https://aisel.aisnet.org/icis2019/blockchain_fintech/blockchain_fintech/8
The Impact of Financial Technology on Customer Intention to Use Financial Services through the Lenses of Process Virtualization Theory
The ongoing digitalization in the financial services industry induces firms to implement financial technology in their digital processes to attract customers. However, research on mechanisms, by which financial technology affects customer intention to use financial processes, is very fragmented. Thus, relying on process virtualization theory, we study the effect of financial technology implementation on intention to use via relationship, synchronism, and identification and control readiness of processes. The results of our conjoint experiment with 302 participants indicate that relationship, synchronism, and identification and control readiness jointly transmit the effect of financial technology implementation on customer intention to use financial processes. Our results further suggest that financial technology implementation generally increases customer intention to use financial processes. Our study integrates research on financial technology and process virtualization by explaining customer intention to use processes with financial technology through process readiness, and supports practitioners in addressing the needs of financial services customers.