Sustainable FinTech Innovation Orientation: A Moderated Model

Abstract

Financial technology (otherwise known as FinTech) refers to a type of technology and innovation that tries to improve and automate the delivery and use of financial services. Despite the importance of this technology in people’s financial transactions in improving the management of their financial operations, processes, and lives, there is a lack of empirical evidence about sustainable FinTech services in the Jordanian context. Consequently, this research examines the factors that influence the acceptance of FinTech services, which have a variety of social, environmental, and ecological benefits. This study proposes an integrated model by combining the extended technology acceptance model (TAM) with the perceived enjoyment as an independent variable and electronic word of mouth (eWOM) as a moderator variable simultaneously. A total of 304 responses from Jordanian citizens were analyzed by the quantitative method of partial least squares structural equation modelling (PLS-SEM). The result confirmed that perceived usefulness and perceived enjoyment have a significant and positive influence on users’ decision to use FinTech services. Meanwhile, eWOM is found to moderate the relationship between perceived usefulness and Jordanians’ decisions to use FinTech services. Finally, this study provides practical implications for managers to encourage them to provide adequate, reliable, and sustainable services to their customers at a reasonable cost that fit their demands and ultimately improve their living standards. Current study limitations and future research directions are presented in the last section.

Does financial awareness increase the acceptance rate for financial inclusion? An empirical examination in the era of digital transformation

“…A quantitative analytical survey was adopted to examine the proposed research model, with non-probability targeted sampling. The self-administered method is common in Jordan and generally achieves a high response rate (Al-Okaily et al, 2021a). The target population was Jordanian public sector employees, with the sampling frame based on figures from the Department of Statistics.…”

“…A quantitative analytical survey was adopted to examine the proposed research model, with non-probability targeted sampling. The self-administered method is common in Jordan and generally achieves a high response rate (Al-Okaily et al. , 2021a).…”

“…Consequently, over-the-phone payments could serve all social sectors regardless of their income and geographical location (CBJ, 2017). This contribution will be reflected in raising the national level of financial inclusion, lowering the cost of transactions, leading to a fast and secure way of transferring money, and tracking the financial behaviour of all citizens (Al-Okaily et al, 2021a). Thus, mobile payment systems…”

Is there any association between FinTech and sustainability? Evidence from bibliometric review and content analysis

“…In the blockchain technology cluster, studies have examined the development and growth of blockchain and artificial intelligence technologies (Fernandez-Vazquez et al 2019 ) and the role of FinTech in improving economic, entrepreneurial, and financial innovations (Menne et al 2022 ; Al-Okaily et al 2021 ; Najib et al 2021 ; Shin and Choi 2019 ; Zhao et al 2019 ).…”

“…The publications of both groups focused on FinTech in the Jordanian context. The publication of the first group focuses on digital financial inclusion (Al-Okaily et al 2021 ), whereas the publication of the second group focuses on sustainable FinTech innovation (Lutfi et al 2021 ) (Fig. 5 ).…”