Autor(es): Costa, Mariana ; Au-Yong-Oliveira, Manuel ; Moreira, Ana
Data: 2024
Identificador Persistente: http://hdl.handle.net/10400.12/9820
Origem: Repositório do ISPA - Instituto Universitário
Assunto(s): Artificial intelligence; Consumers; Banking; Finance; Financial innovation; Fintech
Fintech has revolutionized the financial sector, providing a new way of providing banking services. Since Fintech can provide the same services as traditional banks but entirely online, it is a competitor. As a result, consumers’ relationships with banking have inevitably changed, and it is therefore relevant to analyze these changes. The main objective of this study is to understand people’s perceptions of Fintech, their level of knowledge about it, and the impact of its emergence on traditional banking. The study sample consisted of 174 participants. A quantitative methodology was used to test the hypotheses formulated. The results show that participants who know about Fintech and perceive it as safe have a greater intention of changing banks. On the other hand, they perceive that supervision and regulation in traditional banks is higher than in Fintech. Among the reasons for becoming a Fintech customer, the most mentioned were lower costs and the fact that they provide greater convenience and ease of use. It will be in Fintech’s interest to continue working with regulators so that the sector makes progress in this area and consumers can recognize greater equality between traditional banks and Fintech in the future.
