Artificial intelligence (AI) in FinTech decisions: the role of congruity and rejection sensitivity

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Abstract

Purpose

The digital revolution has changed consumer–service provider interaction, spawning a new generation of FinTech. This paper analyzes consumers' reactions to artificial intelligence (AI) (vs human) decisions.

Design/methodology/approach

The authors tested their predictions by conducting two experimental studies with FinTech consumers (n = 503).

Findings

The results reveal that consumers' responses to AI (vs human) credit decisions depend on the type of credit product. For personal loans, the rejection by an AI provider triggers higher levels of satisfaction compared to a credit analyst. This effect is explained via the perceived role congruity. In addition, the findings reveal that consumers’ rejection sensitivity determines how they perceive financial services role congruity.

Originality/value

To the best of the authors' knowledge, this research is the first to jointly examine AI (vs human) credit decisions in FinTech and role congruity, extending prior research in the field.

Related collections

Most cited references 117

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Evaluating Structural Equation Models with Unobservable Variables and Measurement Error

Claes Fornell, David Larcker (1981)

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Role congruity theory of prejudice toward female leaders.

Alice Eagly, Steven Karau (2002)

A role congruity theory of prejudice toward female leaders proposes that perceived incongruity between the female gender role and leadership roles leads to 2 forms of prejudice: (a) perceiving women less favorably than men as potential occupants of leadership roles and (b) evaluating behavior that fulfills the prescriptions of a leader role less favorably when it is enacted by a woman. One consequence is that attitudes are less positive toward female than male leaders and potential leaders. Other consequences are that it is more difficult for women to become leaders and to achieve success in leadership roles. Evidence from varied research paradigms substantiates that these consequences occur, especially in situations that heighten perceptions of incongruity between the female gender role and leadership roles.