DOES DATA SECURITY AND TRUST AFFECT THE USERS OF FINTECH?

Nowadays banks are facing the pressure from the costumers as well as competitors to enhance their IT department. In this century, the German banks are collecting their revenues with the help of two ways I. E. Interest on margins and provision of services. Now the digital banking turn from standard online banking to innovative ideas which includes video consultancy services, credit brokerage as well as it also include social media. But it is still stress for banking industry to create awareness about the global cyber attacks and it's effects at global level. Fintech based online services can enhance the quality of banks services to customer but along with the risk of cyber attack from the hackers and this create the question of trust of the customer on such innovation. Fintech is mostly used for mobile devices and other sectors for the use of bank amount transaction, notifications, debit and credit transactions alert by the uses of notification via App, SMS or other forms of alerts. Fintech also includes multi banking features, block-chain, fund transfer, robots. Advisory and concierge services from the payments to wealth management on the base of usage of mobile apps. Although fintech has so many usage opportunities still there is always risk of its usage. Germany has developed different strategies for the successful usages of fintech and also helps in innovative strategies to implement it in banks and other services. Fintech has increased tremendous opportunities but on the other side it has also increased cyber crime. Purpose: Researcher's significant focus is on measuring the effect of data security and trust of consumer on fintech with respect to Germany along with the study we try to know the key factor such as customer trust(CT), data security (DS), value added (VA), user design interface (UI), and fintech promotion that influence and provoke fintech adoption. Moreover the motive behind this study on data security and trust of consumer is to identify various possible strategies that help out the German people to adopt fintech, because most of the respondents had mobile devices but only few recognize fintech. Design/ methodology/approach: An instrument has been designed under the guidance of one eminent researcher. The entire construct tested in the capital EFA and 209 valid responses has been considered. Here, SPSS and AMOS have been used for analysis. Findings: Here the researcher found that the entire construct are influenced over the intension to adopt fintech. There is insufficient evidence to conclude that promotion influences the intension to adopt fintech. H1 is also not rejected. The primary hindrance of fintech innovation adoption and also what valuable customers prioritize in context of fintech are analyised in answer of our research question. Research limitations/implications: The major limitation of this paper is that the study is conducted witsh regards to data security and consumer trust on fintech in germany only. Moreover, the study has been conducted in limited tenure which needs to time constrain in data collection and analysis. Theoretical and practical implications: - Data security, customer trust and user design interface strongly affect the intention to adopt Fin Tech. Our research studies have confirmed these. These results can be used to improve the performance of Fin Tech strategies and also enable banks to accomplish economies of scale for global intensity. We also hope that this paper will serve to encourage Fin Tech innovators in their approach to this field and enable Fin Tech researchers to make use of past work with more certainty resulting in future hypothesis improvement. Paper type: Research Paper