The Stimulus-Organism-Response Model for Enhancing the Behavioral Intentions of Online Loan Users through Hedonic and Utilitarian Perceptions

The rapid development of fintech lending in Indonesia has transformed financial behavior, yet this convenience also escalates consumptive tendencies. This study aims to examine the effects of differences in effort expectancy, performance expectancy, subjective norm, and brand image on utilitarian and hedonic perceptions, as well as behavioral intention, among online lending users in Indonesia, using the Stimulus-Organism-Response (SOR) framework. A quantitative approach with an explanatory research design was employed. Data were collected via online questionnaires using purposive sampling, yielding 238 respondents who use online lending apps. Data analysis was performed using Structural Equation Modeling (SEM) in AMOS 24. The hypothesis testing results indicate that performance expectancy and subjective norm have a positive and significant effect on utilitarian perception. Furthermore, differences in brand image and utilitarian perception have been shown to enhance hedonic perception, which in turn has a positive and significant impact on users' behavioral intention. Conversely, effort expectancy shows no significant effect on hedonic perception. The practical implication suggests that online lending providers should focus on optimizing functional benefits, strengthening brand image differentiation, and creating enjoyable user experiences to foster sustainable behavioral intention.