The COVID_19 Pandemic’s Effects on Fintech in Banking Sector

Abstract

As a result of the effects of the COVID_19 pandemic, which has greatly affected the global economy, individuals have resorted to using financial technology and modern applications for financial transactions, which help reduce gatherings, given the centralization of the virus and the emergence of new, advanced pests. This paper aims to determine the impact of the COVID_19 pandemic on financial technology in the Jordanian banking sector. However, the quantitative approach was adopted, through electronic survey questionnaires being distributed to 2450 respondents from the population, which are all customers of Jordanian banks who use electronic banking services in the presence of the COVID_19 pandemic. As a result of analyzing 1930 resolution, it was found that the perception of the COVID_19 pandemic has a significant positive impact on Fintech in the Jordanian banking sector and that the perception of the COVID_19 pandemic has a significant positive impact on the dimensions of Fintech in Jordan which are (ease of use, reliability, responsiveness, assurance, interface design, and privacy). This study contributed to determining the extent to which electronic banking services reduce customer visits to branches according to social distancing. The paper explains how the development of technical services should go hand in hand with the bank's development strategies aimed at acquiring and retaining more customers. This paper recommends the need to improve the application of electronic banking services in proportion to customer satisfaction as much as possible.