Key Drivers for Customer Retention in the Adoption of Online Mutual Fund Applications in Indonesia

Mutual funds hold significant appeal as investment instruments. Nevertheless, some investors express concerns regarding the safety and effectiveness of purchasing mutual funds online or through a mobile app. This study applied the extended Expectation-Confirmation Model (ECM) to explore the factors influencing customer retention in mutual fund investment applications. The research employed the Structural Equation Modeling (SEM) technique to analyze and assess data collected from a carefully chosen group of 408 Indonesian mutual fund investors. The findings of the research indicated that there were significant and positive impact, both direct and indirect, between technological self-efficacy, perceived usefulness, perceived ease of use, confirmation, satisfaction, trust, and customer retention.