Building Loyalty in Finance: The Interplay of Brand Image, Communication, Service Quality, and Trust
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Abstract
This research aims to investigate the impact of brand image, brand communication, and service quality on user loyalty, with trust serving as a mediating factor in the context of finance companies in Sragen Regency. This study uses a quantitative approach with a survey technique on 101 respondents. Data analysis was carried out using Structural Equation Modeling (SEM) based on Partial Least Squares (PLS). The results of the investigation indicate that brand image and brand communication have a significant positive impact on trust. Brand image also has a significant direct impact on user loyalty. Trust has a significant impact on user loyalty, but does not mediate the relationship between brand image, brand communication, or service quality on loyalty. Meanwhile, service quality does not have a significant effect on trust or loyalty. These findings indicate that in the context of finance companies, brand image and trust play an important role in building user loyalty, while service quality has not been the main determinant. This research introduces a contextualized and empirically grounded perspective on customer loyalty, offering theoretical implications by questioning mediation pathways and practical guidance for financial institutions to prioritize brand and trust-building strategies over conventional service enhancement alone.
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How to Cite
Emilia, L., & Ratnawati, A. (2025). Building Loyalty in Finance: The Interplay of Brand Image, Communication, Service Quality, and Trust. ProBisnis : Jurnal Manajemen, 16(4), 723–732. Retrieved from https://ejournal.joninstitute.org/index.php/ProBisnis/article/view/1095
References
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Rizaldi, F. M., & Suprayogi, Y. (2024). The Role of Brand Image in Consumer Decision-Making. The International Journal of Business Review (The Jobs Review), 17(2), 651–665.
Sarstedt, M., Hair, J. F., Pick, M., Liengaard, B. D., Radomir, L., & Ringle, C. M. (2022). Progress in partial least squares structural equation modeling use in marketing research in the last decade. Psychology and Marketing, 39(5), 1035–1064. https://doi.org/10.1002/mar.21640
Sharma, A., Hewege, C., & Perera, C. (2025). Enhancing Consumer Empowerment: Insights into the Role of Rationality When Making Financial Investment Decisions. Journal of Risk and Financial Management, 18(2), 1–22. https://doi.org/10.3390/jrfm18020106
Sun, C., Ji, J., & Meng, X. (2025). Transparency as a Trust Catalyst: How Self-Disclosure Strategies Reshape Consumer Perceptions of Unhealthy Food Brands on Digital Platforms. Journal of Theoretical and Applied Electronic Commerce Research, 20(2), 133. https://doi.org/10.3390/jtaer20020133
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Theodore Narku Odonkor, Oghenekome Urefe, Emmanuel Biney, & Shadrack Obeng. (2024). Comprehensive financial strategies for achieving sustainable growth in small businesses. Finance & Accounting Research Journal, 6(8), 1349–1374. https://doi.org/10.51594/farj.v6i8.1376
Vu, T. (2021). Service Quality And Its Impact On Customer Satisfaction (Issue November). https://doi.org/10.6084/m9.figshare.17089454
Wang, J., Shahzad, F., Ahmad, Z., Abdullah, M., & Hassan, N. M. (2022). Trust and Consumers’ Purchase Intention in a Social Commerce Platform: A Meta-Analytic Approach. SAGE Open, 12(2), 1–15. https://doi.org/10.1177/21582440221091262
Yasmir, & Tarjo. (2023). Risk Perception in Perception of Benefit, Convenience, Trust, and Interest in Using Mobile Banking. Assets : Jurnal Ekonomi, Manajemen Dan Akuntansi, 13(1), 45–63. https://doi.org/10.24252/assets.v13i1.37122
Zia, A., Younus, S., & Mirza, F. (2021). Investigating the Impact of Brand Image and Brand Loyalty on Brand Equity: the Mediating Role of Brand Awareness. International Journal of Innovation, Creativity and Change. Www.Ijicc.Net, 15(2), 1091. www.ijicc.net
Ahmadi, A., & Ataei, A. (2024). Emotional attachment: a bridge between brand reputation and brand advocacy. Asia-Pacific Journal of Business Administration, 16(1), 1–20. https://doi.org/10.1108/APJBA-11-2021-0579
Al-Dwairi, R. M., Shehabat, I., Zahrawi, A., & Hammouri, Q. (2024). Building customer trust, loyalty, and satisfaction: The power of social media in e-commerce environments. International Journal of Data and Network Science, 8(3), 1883–1894. https://doi.org/10.5267/j.ijdns.2024.2.001
Arhinful, R., Mensah, L., Amin, H. I. M., Obeng, H. A., & Gyamfi, B. A. (2025). The Strategic Role of Sustainable Finance in Corporate Reputation: A Signaling Theory Perspective. Sustainability (Switzerland), 17(11), 1–27. https://doi.org/10.3390/su17115002
BFI. (2019). Agility For Transformation.
Bucăţa, G., & Rizescu, A. M. (2017). The Role of Communication in Enhancing Work Effectiveness of an Organization. Land Forces Academy Review, 22(1), 49–57. https://doi.org/10.1515/raft-2017-0008
Dam, S. M., & Dam, T. C. (2021). Relationships between Service Quality, Brand Image, Customer Satisfaction, and Customer Loyalty. Journal of Asian Finance, Economics and Business, 8(3), 585–593. https://doi.org/10.13106/jafeb.2021.vol8.no3.0585
Elansari, H., Alzubi, A., & Khadem, A. (2024). The Impact of United Nations Sustainable Development Goals on Customers’ Perceptions and Loyalty in the Banking Sector: A Multi-Mediation Approach. Sustainability (Switzerland), 16(18). https://doi.org/10.3390/su16188276
Gherghina, Ștefan C. (2023). The Impact of COVID-19 on Financial Markets and the Real Economy. In Economies (Vol. 11, Issue 4). https://doi.org/10.3390/economies11040107
Heo, H., & Lee, S. (2025). Consumer Information-Seeking and Cross-Media Campaigns: An Interactive Marketing Perspective on Multi-Platform Strategies and Attitudes Toward Innovative Products. Journal of Theoretical and Applied Electronic Commerce Research, 20(2), 68. https://doi.org/10.3390/jtaer20020068
Hollebeek, L. D., & Macky, K. (2019). Digital Content Marketing’s Role in Fostering Consumer Engagement, Trust, and Value: Framework, Fundamental Propositions, and Implications. Journal of Interactive Marketing, 45(February), 27–41. https://doi.org/10.1016/j.intmar.2018.07.003
Isaeva, N., Gruenewald, K., & Saunders, M. N. K. (2020). Trust theory and customer services research: theoretical review and synthesis. Service Industries Journal, 40(15–16), 1031–1063. https://doi.org/10.1080/02642069.2020.1779225
Kao, T. F., Du, Y. Z., Tu, J. C., & Chen, M. (2025). Effect of Cause-Related Marketing and Brand on Consumer Purchase Intention: Mediating Role of Emotions. Sustainability (Switzerland), 17(10). https://doi.org/10.3390/su17104328
Khalufi, N. A. M., Sheikh, R. A., Khan, S. M. F. A., & Onn, C. W. (2025). Evaluating the Impact of Sustainability Practices on Customer Relationship Quality: An SEM-PLS Approach to Align with SDG. Sustainability (Switzerland), 17(2). https://doi.org/10.3390/su17020798
Khanom, M. T. (2023). Using social media marketing in the digital era: A necessity or a choice? International Journal of Research in Business and Social Science (2147- 4478), 12(3), 88–98. https://doi.org/10.20525/ijrbs.v12i3.2507
Kumar, N., & Sathish, A. S. (2020). Understanding the Influence of Brand Reputation and Trust on Loyalty: A Mediated Role of Relationship. Palarch’s Journal Of Archaeology Of Egypt/Egyptology, 17(9), 8441–8457.
Kuráth, G., Bányai, E., Sipos, N., Venczel-Szakó, T., & Konczos-Szombathelyi, M. (2023). Trust and communication in the context of leaders and employees. Journal of International Studies, 16(3), 159–174. https://doi.org/10.14254/2071-8330.2023/16-3/9
Kvíčala, D., Králová, M., & Suchánek, P. (2024). The impact of online purchase behaviour on customer lifetime value. Journal of Marketing Analytics, 2000. https://doi.org/10.1057/s41270-024-00328-9
Lei, S., & Chu, L. (2015). The Mediating Role of Consumer Satisfaction in the Relationship between Brand Equity and Brand Loyalty based on the PLS-SEM Model. International Business Research, 8(2), 62–70. https://doi.org/10.5539/ibr.v8n2p62
Mandala. (2023). Striving for Synergistic Growth (Vol. 1).
Na, M., Rong, L., Ali, M. H., Alam, S. S., Masukujjaman, M., & Ali, K. A. M. (2023). The Mediating Role of Brand Trust and Brand Love between Brand Experience and Loyalty: A Study on Smartphones in China. Behavioral Sciences, 13(6). https://doi.org/10.3390/bs13060502
Rane, N., Achari, A., & Choudhary, S. P. (2023). Enhancing Customer Loyalty Through Quality of Service: Effective Strategies To Improve Customer Satisfaction, Experience, Relationship, and Engagement. International Research Journal of Modernization in Engineering Technology and Science, May. https://doi.org/10.56726/irjmets38104
Rita, P., Oliveira, T., & Farisa, A. (2019). The impact of e-service quality and customer satisfaction on customer behavior in online shopping. Heliyon, 5(10), e02690. https://doi.org/10.1016/j.heliyon.2019.e02690
Rizaldi, F. M., & Suprayogi, Y. (2024). The Role of Brand Image in Consumer Decision-Making. The International Journal of Business Review (The Jobs Review), 17(2), 651–665.
Sarstedt, M., Hair, J. F., Pick, M., Liengaard, B. D., Radomir, L., & Ringle, C. M. (2022). Progress in partial least squares structural equation modeling use in marketing research in the last decade. Psychology and Marketing, 39(5), 1035–1064. https://doi.org/10.1002/mar.21640
Sharma, A., Hewege, C., & Perera, C. (2025). Enhancing Consumer Empowerment: Insights into the Role of Rationality When Making Financial Investment Decisions. Journal of Risk and Financial Management, 18(2), 1–22. https://doi.org/10.3390/jrfm18020106
Sun, C., Ji, J., & Meng, X. (2025). Transparency as a Trust Catalyst: How Self-Disclosure Strategies Reshape Consumer Perceptions of Unhealthy Food Brands on Digital Platforms. Journal of Theoretical and Applied Electronic Commerce Research, 20(2), 133. https://doi.org/10.3390/jtaer20020133
Tabrani, M., Amin, M., & Nizam, A. (2018). Trust, commitment, customer intimacy, and customer loyalty in Islamic banking relationships. International Journal of Bank Marketing, 36(5), 823–848. https://doi.org/10.1108/IJBM-03-2017-0054
Theodore Narku Odonkor, Oghenekome Urefe, Emmanuel Biney, & Shadrack Obeng. (2024). Comprehensive financial strategies for achieving sustainable growth in small businesses. Finance & Accounting Research Journal, 6(8), 1349–1374. https://doi.org/10.51594/farj.v6i8.1376
Vu, T. (2021). Service Quality And Its Impact On Customer Satisfaction (Issue November). https://doi.org/10.6084/m9.figshare.17089454
Wang, J., Shahzad, F., Ahmad, Z., Abdullah, M., & Hassan, N. M. (2022). Trust and Consumers’ Purchase Intention in a Social Commerce Platform: A Meta-Analytic Approach. SAGE Open, 12(2), 1–15. https://doi.org/10.1177/21582440221091262
Yasmir, & Tarjo. (2023). Risk Perception in Perception of Benefit, Convenience, Trust, and Interest in Using Mobile Banking. Assets : Jurnal Ekonomi, Manajemen Dan Akuntansi, 13(1), 45–63. https://doi.org/10.24252/assets.v13i1.37122
Zia, A., Younus, S., & Mirza, F. (2021). Investigating the Impact of Brand Image and Brand Loyalty on Brand Equity: the Mediating Role of Brand Awareness. International Journal of Innovation, Creativity and Change. Www.Ijicc.Net, 15(2), 1091. www.ijicc.net