Integrated Marketing Communications for Fintech Products: Empirical Study on Agribank eMobile Banking by VNPAY

Abstract

The main research purpose of this article is to empirically test the implementation of Integrated Marketing Communication (IMC) tools of VNPAY for eMobile banking as a digital banking product in Agribank Vietnam. From that assessment, business should have a better grasp of the effectiveness of their fintech IMC implementation through a great customer understanding. Having reviewed the major contents of previously published works globally, the authors form an analysis framework for regression and CB-SEM examinations. The regression model has come with the CE variable as the dependent one (trend in using Agribank eMobile Banking application), and other 5 groups of independent variables. The SEM model, on the other hand, has been formed with 7 unobservable latent variables and 35 indicators. The paper employs inductive reasoning. The major method conducted is the mixed one (qualitative research for preliminary study and quantitative research for formal data processing). The IMC campaigns of VNPAY have been approached through the use of Multivariate Regression analysis, along with CB-SEM analysis with the aids of JASP and Lavaan syntax. In general, the research has successfully found a connection between the trends of using an eBanking fintech software of Vietnamese customers and integrated marketing communication efforts of the application developer. In addition, the study also helps confirm the theory of Marketing through profoundly understanding customers to trigger their interests towards digital products in the financial-banking sector. Its practical contributions relate to better understanding the effectiveness of IMC tools for digital space, digital products, and digital services; clarifying the digital behavior of customers towards digital banking products; and providing good reference conclusions for digital banking application developers about the IMC operational development model. The major value of the research lies in the areas of management science, marketing management for fintechs and digital customer behavior.