An investigation of consumer’s fintech adoption: the case of Neobank

Abstract

This study investigates consumers’ adoption of neobanks, which are digital-only banks, in Vietnam’s Fintech industry. The study applied the theories of UTAUT2 to explore the factors that influence consumers’ adoption of neobanks, such as performance expectancy, effort expectancy, facilitating conditions, social influence, hedonic motivation, and brand image. The research also examines the moderating role of uncertainty avoidance. The quantitative approach includes a survey of neobank consumers in Vietnam. The study’s findings provide insights into neobanks’ potential to disrupt traditional banking in Vietnam and the factors that drive consumers’ adoption of Fintech services. It will also contribute to the growing literature on Fintech adoption and provide insights for neobanks on improving their services and attracting more customers. The results of this study may be of interest to neobank providers, traditional banks, policymakers, and researchers interested in understanding consumers’ adoption of Fintech services in emerging markets.