Impact of fintech over consumer experience and loyalty intentions: an empirical study on Jordanian Islamic Banks

Abstract

The purpose of the study was to identify the impact of fintech over consumers loyalty intentions among Islamic banks. The study covered six independent variables that were taken as a means for showing fintech services which might have a significant impact over consumer experience. Consumer experience has been operationalized taking three dimensions namely, cognitive, affective, and social, whereas fintech services have been measured using six dimensions namely, ease of use, perceived value, consumer support, assurance, speed, and innovativeness. The results of the study drawn on the basis of a sample of 384 respondents who were the consumers of Islamic banks, using structural equation modeling revealed that all the six independent variables have a significant direct impact over dependent variable. While analyzing the mediating role of consumer experience using three dimensions out of six mediating roles, only affective experience between perceived value and loyalty intentions, social experience between consumer support and loyalty intentions, affective experience between assurance and loyalty intentions, and cognitive experience between assurance and loyalty intentions have shown insignificant impact and all other mediating roles have been found significant which is a major contribution of the study. The study is important for academicians as well as practitioners as it guides the management of Islamic banks about the factors that they should focus while opening horizons for future research.