Fintech Adoption in Banking: A Study of Customer Awareness, Satisfaction, and Usage Drivers in Thrissur District
DOI:
https://doi.org/10.31305/rrijm.2026.CI.v11.n06.003Keywords:
FinTech, Digital Banking, Customer Awareness, Satisfaction, Usage DriversAbstract
Due to the rapid digital transformation of the banking industry, Financial Technology (FinTech) is now the driving force behind developing efficient, accessible, and customer-oriented ways to interact with financial service providers. With the introduction of services like digital payments, mobile banking, and automated platforms, it has changed how customers interact with banks. However, these services are not universally well-understood or utilized by all customers. Therefore, the objective of this research is to analyse customer awareness, satisfaction levels, and usage drivers for FinTech among bank customers in Thrissur District, Kerala. The research utilized primary data collected from 150 respondents using a descriptive and analytical approach. For data analysis, percentage and Likert scale analyses, as well as ranking methods, were used. The results suggest that a substantial number of respondents have a high level of awareness of and regularly utilize the basic services offered through FinTech, most commonly mobile and internet banking. Convenience, time savings, and the speed with which transactions can be completed were identified as the most significant drivers of customers' decisions to adopt FinTech services, while security concerns, lack of digital literacy, and the need for customer support were identified as the biggest obstacles to FinTech adoption. The findings also provide banks with valuable information about how to improve their digital service quality and promote greater financial inclusion through better service delivery.
References
[1] Gabor, D., & Brooks, S. (2016). The digital revolution in financial inclusion: International development in the FinTech era. Journal of Development Economics, 20(3), 451–467.
[2] Agarwal, S., & Du, W. (2018). Consumer adoption of fintech in the financial market. Journal of Financial Behaviour & Organization, 32(2), 189–203.
[3] Vives, X. (2019). Digital disruption in banking. Annual Review of Financial Economics, 11, 243–272. DOI: https://doi.org/10.1146/annurev-financial-100719-120854
[4] Gupta, M., & Kaushik, N. (2020). Determinants of customer satisfaction with fintech services provided by banks. International Journal of Banking and Finance, 30(2), 167–182.
[5] Lee, J., & Kim, S. H. (2021). Trust, perceived risk, and fintech adoption in banking services. Journal of Financial Services Marketing, 26(2), 67–79.
[6] World Bank. (2022). Fintech and the future of finance. World Bank Publications.
[7] Kraiwanit, T., & Limna, P. (2022). The rise of fintech: A review article. International Journal of Financial Innovation, 12(3), 207–220.
[8] OECD. (2023). Digital finance and financial inclusion. OECD Publishing.
[9] Reserve Bank of India. (2024). Report on trends and progress of banking in India. RBI.
[10] Banna, H., Alam, M. R., Ahmad, R., & Sari, N. (2024). FinTech adoption and customer satisfaction in digital banking: Evidence from emerging economies. Journal of Financial Innovation, 10(1), 1–18.
