Abstract:
Purpose
The present research study has investigated the effect of FinTech application subsets such as
payments, advisory services, financing and crowd funding on customer retention in
conventional banks. The study particularly focuses on FinTech trends in conventional
banking system in Pakistan.
Research Methodology and Design
The research methodology involves the use of quantitative methods, supported by
questionnaires for data collection. This data was briefly utilised by means reliability and
regression analysis to ascertain the impact ofsaid factors.
Findings
Results conclude that it is payments rather crowd funding or other FinTech subsets that have
a significant impact on customer retention in said banking systems. It was found that cost beneficial incentives offered as promotions, offers and long-term subscriptions were the
attributable causes ofthis finding.
Limitations
It is ofnote, however, that the present datasets do not account for data in Islamic banks and is
constrained to specific study oftwo select countries.
Recommendations
The present work will assist in updating existing literature and provide new insight in
assessing FinTech’s well-hyped success.
