Examining factors that boost intention and loyalty to use Fintech post-COVID-19 lockdown as a new normal behavior

Le, Minh T.H.

This study predicts factors affecting the tendency to use financial technology (Fintech) services post-COVID-19 lockdown as a new normal behavior. Fintech services have boosted the number of users during the COVID-19 lockdown. However, to maintain the loyal behavior of consumers after usage, firms need to predict key reasons to enhance their intention to use the service and maintain current consumers in the long term. This study offers a model to assess the components of the perceived usefulness toward Fintech. Data were collected via Mechanical Turk (MTurk), and structural equation modeling was used to predict the factors that influence the intention and loyalty to use Fintech post-COVID-19 lockdown. The findings reveal that the COVID-19 lockdown, trust, data security and privacy, and especially staff services are factors that enhance the intention to use through perceived usefulness. In return, it builds consumers’ loyalty toward Fintech services and is considered a new normal behavior. This research sheds light on how Fintech firms develop their capabilities and increase their competitive advantages. Both theoretical and practical implications are also discussed.