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DOI 10.35609/jfbr.2023.8.3(1)

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)

Received: October 10, 2023 | Accepted: December 31, 2023

Leveraging Customer Service Support to Enhance Brand Value and Corporate Performance: Evidence from the Fintech Industry
Vladimir Valerevich Syropyatov , Igor Anatolevich Arenkov, Soman Sajid, Daniyal Haider Mahar
Postgraduate student of St. Petersburg State University, 62 Tchaikovsky Street, 191194, Saint Petersburg, Russia
Doctor of Economics, Professor, Head of the Department of Enterprise Economics and Entrepreneurship of St. Petersburg State University, 62 Tchaikovsky Street, 191194, Saint Petersburg, Russia
Graduate of St. Petersburg School of Economics and Management, marketing expert in IT company, 3 Kantemirovskaya Street, 194100, St. Petersburg, Russia.
Postgraduate of St. Petersburg School of Economics and Management, 3 Kantemirovskaya Street, 194100, St. Petersburg, Russia. 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

Keywords: Brand value; Brand co-creation; Fintech; Customer service; Performance

JEL Classification: M14, M31.

URI: http://gatrenterprise.com/GATRJournals/JFBR/vol8.3_1.html

DOI: https://doi.org/10.35609/jfbr.2023.8.3(1)

Pages 116 – 124

Price: USD 25