AEA Papers and Proceedings
ISSN 2574-0768 (Print) | ISSN 2574-0776 (Online)
Fintech and Customer Capital
AEA Papers and Proceedings
(pp. 490–497)
Abstract
Financial Technology (fintech) firms invest significantly more in customer capital relative to traditional financial firms, and such investment builds valuable customer capital. Higher investment by fintech firms is not accounted for by sectoral focus or differences in firm age. Reasons for higher customer capital investment are explored, including the need to build trust with customers, the focus on downstream segments of the financial marketplace, the operation of platform-based business models, and a heavier reliance on valuable customer data.Citation
He, Bianca, Lauren Mostrom, and Amir Sufi. 2026. "Fintech and Customer Capital." AEA Papers and Proceedings 116: 490–497. DOI: 10.1257/pandp.20261079Additional Materials
JEL Classification
- D22 Firm Behavior: Empirical Analysis
- G20 Financial Institutions and Services: General
- L25 Firm Performance: Size, Diversification, and Scope
- M31 Marketing