Does FinTech penetration drive financial development? Evidence from panel analysis of emerging and developing economies

Aduba, Joseph Jr.; Asgari, Behrooz; Izawa, Hiroshi

doi:10.1016/j.bir.2023.06.001

Cited by 12 publications

(5 citation statements)

References 24 publications

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“…Price value can be described as the tradeoff between the perceived advantages of using FinTech applications and the financial expenses associated with their usage (Aduba et al 2023;Asif et al 2023;Senyo and Osabutey 2020). A positive price value occurs when the perceived benefits of a technology outweigh the monetary costs, and such a positive price value significantly influences intention (Venkatesh et al 2012).…”

Section: Price Valuementioning

confidence: 99%

“…For individuals to engage with FinTech services, they must possess a mobile device, an active subscription with a carrier, and the proficiency to navigate their mobile devices effectively (Alalwan et al 2016;Asif et al 2023). Therefore, the presence of facilitating conditions has the potential to spark greater interest and subsequent adoption of FinTech services (Aduba et al 2023;Arner et al 2020). Bajunaied et al (2023) found that access to technical support positively influenced users' trust and usage of FinTech products.…”

Section: Facilitating Conditionsmentioning

confidence: 99%

“…The rise of robo-advisors has reshaped the asset management industry (Fan et al 2023). The ability to receive customized financial guidance has become a compelling factor for adopting FinTech services (Aduba et al 2023). FinTech has the potential to bring financial services to underserved populations worldwide (Fan et al 2023).…”

Section: Introductionmentioning

confidence: 99%

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Understanding the Determinants of FinTech Adoption: Integrating UTAUT2 with Trust Theoretic Model

Amnas,

Selvam,

Raja

et al. 2023

JRFM

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Financial technology (FinTech) is transforming the financial services industry by offering innovative, convenient solutions for businesses and individuals. This study examines the factors influencing FinTech adoption, with a special focus on trust. By integrating insights from both the unified theory of acceptance and use of technology (UTAUT2), and the trust theoretic model (TTM), this research uncovers critical determinants of FinTech adoption. Utilizing survey responses obtained from 399 participants, this research employs the partial least squares structural equation modelling method. The findings reveal that performance expectancy, effort expectancy, social influence, habit, price value, and facilitating conditions significantly influence users’ intentions to use FinTech services. In addition, the study shows that trust plays a crucial role in FinTech use, as it influences both the intentions to use and the actual use of FinTech. Surprisingly, hedonic motivation was found not to affect users’ intentions, implying that people see FinTech as a practical, rather than enjoyable, endeavor. These insights provide valuable guidance for service providers and policymakers seeking to enhance FinTech adoption and utilization while ensuring the security and trustworthiness of these digital platforms.

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Section: Price Valuementioning

confidence: 99%

Section: Facilitating Conditionsmentioning

confidence: 99%

See 1 more Smart Citation

Understanding the Determinants of FinTech Adoption: Integrating UTAUT2 with Trust Theoretic Model

Amnas,

Selvam,

Raja

et al. 2023

JRFM

View full text Add to dashboard Cite

show abstract

“…Moreover, FinTech enables unbanked individuals to directly transfer funds to an electronic wallet without the need for a conventional bank account (Aduba et al 2023). These bene ts were seen during the peak of the Covid-19 pandemic.…”

Section: Introductionmentioning

confidence: 99%

“…For example, FinTech in certain African countries (speci cally: South Africa, Nigeria, Zimbabwe) enables banks to provide automobile and real estate loans without the need for physical bank branches. Moreover, FinTech enables unbanked individuals to directly transfer funds to an electronic wallet without the need for a conventional bank account (Aduba et al 2023). These bene ts were seen during the peak of the Covid-19 pandemic.…”

Section: Introductionmentioning

confidence: 99%

Determinants of FinTech Service Utilization and Access Factors: Case of Palestine

Habash

2024

Preprint

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This study addresses the challenges of accessibility to financial technology (FinTech) services in emerging markets, focusing on Palestine. The purpose is to examine the determinants influencing access to and usage of FinTech services in this context, amidst the unprecedented disruptions faced by the conventional financial system due to decentralization and the removal of physical barriers in the dynamic landscape of FinTech. The study employs a robust multinomial Generalized Linear Model regression analysis. The analysis is based on a nationally representative secondary survey dataset on financial inclusion from the year 2022. Theory of Planned Behavior (TPB) is utilized to dissect the factors influencing FinTech usage, adding a distinctive layer to existing literature, particularly within the specific context of a developing country like Palestine. The study reveals significant insights into the challenges of financial inclusion in Palestine. Economic conditions and individual income levels emerge as formidable obstacles impacting both the accessibility and utilization of FinTech services. These factors intertwine with motivational and attitudinal behaviors among the surveyed population, that individual motivation plays a more potent role than attitude in steering the decision-making process surrounding FinTech adoption. This study introduces original contributions to the existing literature by applying TPB to dissect the determinants of FinTech usage within the specific context of a developing country, Palestine. The study explores the intricate interplay between economic conditions, individual income levels, motivational factors, and attitudinal behaviors in shaping FinTech access and usage.

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Fintech adoption, the regulatory environment and bank stability: An empirical investigation from GCC economies

Khan,

Ghafoor

2023

Borsa Istanbul Review

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Does FinTech penetration drive financial development? Evidence from panel analysis of emerging and developing economies

Cited by 12 publications

References 24 publications

Understanding the Determinants of FinTech Adoption: Integrating UTAUT2 with Trust Theoretic Model

Understanding the Determinants of FinTech Adoption: Integrating UTAUT2 with Trust Theoretic Model

Determinants of FinTech Service Utilization and Access Factors: Case of Palestine

Fintech adoption, the regulatory environment and bank stability: An empirical investigation from GCC economies

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