Leveraging Customer Service Support to Enhance Brand Value and Corporate Performance: Evidence from the Fintech Industry

Abstract

Objective –This study investigates the role of customer service support (CSS) in co-creating brand value and enhancing corporate performance in the fintech industry. The research focuses on analyzing the impact of CSS on the customer journey from registration to first deposit. Methodology – The study utilizes historical data analysis and A/B testing. Client data from a leading fintech company is analyzed to compare conversion rates between those who used CSS versus those who did not. An A/B test is then conducted using a specialized support team targeting clients who haven’t made a deposit and had less than 2 chats with CSS. Findings –Clients who used CSS before depositing had 5 times higher conversion rates. The A/B test found a 3.1 percentage point (9.3% relative) increase in conversion from using targeted support. Novelty –This study provides new empirical evidence on the impact of CSS as a brand value co-creator in fintech, with a novel methodology to enhance corporate performance. Type of Paper: Empirical JEL Classification: M14, M31. Keywords: Brand value; Brand co-creation; Fintech; Customer service; Performance Reference to this paper should be made as follows: Syropyatov, V.V; Arenkov, I.A; Sajid, S; Mahar, D.H. (2023). Leveraging Customer Service Support to Enhance Brand Value and Corporate Performance: Evidence from the Fintech Industry, J. Fin. Bank. Review, 8(3), 116 – 124. https://doi.org/10.35609/jfbr.2023.8.3(1)