Brand loyalty in FinTech services: The role of self-concept, customer engagement behavior and self-brand connection

The concurrent effects of customer predispositions, customer engagement behaviour (CEB) and self-brand connections (SBC) on loyalty are less understood. This article will examine how relationship quality and consumer predispositions (self-concept, brand communal focus) affect loyalty, with customer engagement behaviour and self-brand connection acting as mediating factors. A cross-sectional survey with a quantitative study design was used to gather information from 380 users of FinTech apps in the Indian state of Karnataka. The main findings indicate that self-concept does not generate loyalty by itself but rather fosters loyalty through the mediation of SBC and CEBs. Similarly, a trusted and satisfied customer remains brand loyal. A sense of communal focus among consumers results in self-brand connections only if they are positively engaged with the brand. Customer interactions and engagement in social media can have a significant impact on the development of digital self-brand relationships. Contrary to the literature, we found that positive engagement fosters loyalty only if it leads to brand connection. Repeat patronage and willingness to buy new products or price insensitivity depend on strong emotional brand connections and CEBs. Hence, FinTech companies should match their experiences, offerings, and brand messages to the way that consumers view themselves. To engage customers in new ways and establish a connection with them, they should also offer stimulating and compelling virtual experiences on their platforms. Therefore, FinTech consumers can maintain brand loyalty through self-brand connections and brand engagement through self-concepts.