Reconfigure and evaluate consumer satisfaction for Open API in advancing FinTech

Abstract

With the rise of FinTech, Open API (application programming interface) is essential in advancing FinTech applications in the future, but its customer satisfaction is a concern. Therefore, this study uses the technology acceptance model (TAM) to reconfigure and evaluate customer satisfaction of Open API in advancing FinTech by applying extended variables. This study initially applies the decision making trial and evaluation laboratory (DEMATEL) approach with the analytic network process (ANP) technique to reconfigure the modified TAM. Finally, we use Vlse Kriterijumska Optimizacija I Kompromisno Resenje (VIKOR) analysis to evaluate customer satisfaction for examining the acceptance of Open API.The results of DANP point out ‘perceived privacy’ (0.179), ‘customer use intention’ (0.158) and ‘perceived usefulness’ (0.147) are the three most influential variables for Open API in advancing FinTech. Furthermore, VIKOR analysis indicates online security or cryptocurrency trading (0.536) performs best in which Open API can satisfy customers in advancing FinTech and online banking (0.438) has the most space for improvement. This study also indicates that privacy protection plays a very important role in consumer satisfaction of Open API. The influences of the variables demonstrate that Open API compared to conventional APIs, is more convenient and relatively beneficial in advancing FinTech.