Cyber-Identity Theft and Fintech Services

Abstract

The fear of identity theft has been considered as an impediment to the rapid utilization of financial technology (FinTech) services. Based on the technology threat avoidance theory (TTAT), this study aims at investigating the willingness of users to use FinTech services notwithstanding the increasing rate of identity theft. This study examines the relationship between the constructs of fear of financial loss, fear of reputational damage, intention to use, and the actual use of FinTech services. Using multiple linear regression models and Pearson's correlation, the results indicate that the fear of financial loss and the fear of reputational damage have no statistical significant relationship with the intention to use and the use of FinTech services. However, the results show a significant relationship between intention to use and the actual use of FinTech services. Consequently, the study indicates that the fear of identity theft does not significantly deter users from using FinTech services.