Does Fintech Affect Consumer Retention in Islamic Banks? Empirical Evidence from OIC Countries

Penulis

DOI:

https://doi.org/10.30659/ijibe.9.2.103-115

Kata Kunci:

Financial technology, FinTech, consumer retention, OIC countries, Islamic banking, Islamic bank

Abstrak

FinTech is a trendy topic that has increased rapidly in Organization of Islamic Cooperation (OIC) countries, where Muslim consumers desire to use banking services in a Sharia conforming way. Thus, the research seeks to examine the effect of FinTech applied by Islamic banks of OIC countries on consumer retention.  The Islamic banking system in OIC nations has mainly been in the foreground in carrying FinTech to its operations at the initial phase. Although consumers typically do not select Islamic banks for technologies, the study tries to investigate the effect of FinTech in maintaining consumers. Data collection uses the strata sampling method; online questionnaires are spread and collected from 317 customers of chosen banks in OIC countries. SPSS 25.0 analyzes statistical data via numerous examinations such as regression analysis, factor analysis, sample adequacy, and reliability analysis. The results show that compliance, consulting services, and payments of FinTech affect consumer retention. However, financing services considered vital in conventional banks do not significantly influence consumer retention. The research tries to help Islamic banks satisfy their consumers by using FinTech applications and helping FinTech firms enhance their finance amenities.

Biografi Penulis

  • Safeer Ullah Khan, Institute of Business Administration, Gomal University, Dera Ismail Khan, Pakistan
    Dr. Safeer Ullah Khan is an assistant professor at the Institute of Business Administration, Gomal University, Dera Ismail Khan, Pakistan.
  • Eli Sumarliah, School of Economics and Management, University of Science and Technology Beijing, China
    Eli Sumarliah a.k.a. Elie Molly is a doctoral candidate at the School of Economics and Management, University of Science and Technology Beijing (USTB), Beijing, China. Her research area includes Supply Chain Management, Risk Management, Marketing, E-commerce, Consumer Behavior, and Hijab/Halal Fashion/Modest Fashion. She is also the author of inspirational books.

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Unduhan

Diterbitkan

2024-10-01

Terbitan

Vol 9 No 2 (2024): September 2024

Bagian

Articles

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