Journal Screenshot

International Journal of Academic Research in Accounting, Finance and Management Sciences

Open Access Journal

ISSN: 2225-8329

Exploring the Elements that Influence Bank Customers’ Intention to Adopt Fintech

Suann Lee, Mun Sum Foong, Piaralal S.K, Alwi N.H

http://dx.doi.org/10.6007/IJARAFMS/v14-i4/23758

Open access

Financial Technology (also known as Fintech) uses software and digital platforms such as artificial intelligent systems, blockchain technology, and mobile applications to further develop services in numerous industries, including payments, loans, asset management, and regulatory compliance. Despite the possible advantages, many people are still reluctant to embrace Fintech due to particular concerns. Hence, this study examines the factors that influence the intention to adopt fintech. This study will analyze the relationship between six independent variables and the intention to adopt fintech. Primary data will be used, and 200 data were collected from respondents using purposive sampling and then analyzed with JASP and Smart PLS 4.0. As a result, performance expectancy, perceived ease of use, and facilitating conditions show significant correlations with the intention to adopt fintech.

Ahmad, S., Tajul Urus, S., & Nazri, S. N. (2021). Technology acceptance of financial technology (Fintech) for payment services among employed fresh graduates. Asia-Pacific Management Accounting Journal, 16(2), 27-58. https://doi.org/10.24191/apmaj.v16i2-02
Alkhwaldi, A. F., Alharasis, E. E., Shehadeh, M., Abu-AlSondos, I. A., Oudat, M. S., & Bani Atta, A. A. (2022). Towards an Understanding of FinTech Users’ Adoption: Intention and e-Loyalty Post-COVID-19 from a Developing Country Perspective. Sustainability, 14(19), 12616. https://doi.org/10.3390/su141912616
Alsmadi, A. A., Alfityani, A., Alhwamdeh, L. N., Al_hazimeh, A. M., & Al-Gasawneh, J. A. (2022). Intentions to use fintech in the Jordanian banking industry. International Journal of Data and Network Science, 6(4), 1351–1358. https://doi.org/10.5267/j.ijdns.2022.5.016
Anwar, R. N., & Alviayatun, T. (2022). The effect of performance expectancy, effort expectancy, social influence, facilitating conditions on mobile wallet adoption. Fair Value : Jurnal Ilmiah Akuntansi Dan Keuangan, 4(Spesial Issue 5), 2211–2223.
Ayman, A. A., Amer, M. A., Mohammad, A. A.-A., & Arkan, W. A.-S. (2023). Banking Services Transformation and Financial Technology Role. Information Sciences Letters, 12(1), 315–324. https://doi.org/10.18576/isl/120126
Beck, T. (2020). Fintech and Financial Inclusion: Opportunities and Pitfalls. In www.adb.org. Asian Development Bank. https://www.adb.org/publications/fintech-financial-inclusion-opportunities-pitfalls
Camilleri, M. A., & Camilleri, A. C. (2022). Remote learning via video conferencing technologies: Implications for research and practice. Technology in Society, 68, 101881. https://doi.org/10.1016/j.techsoc.2022.101881
Daragmeh, A., Lentner, C., & Sági, J. (2021). FinTech payments in the era of COVID-19: Factors influencing behavioral intentions of “Generation X” in Hungary to use mobile payment. Journal of Behavioral and Experimental Finance, 32, 100574. https://doi.org/10.1016/j.jbef.2021.100574
Doraisamy, B., Santhi, A., M Varatharajoo, P., Shanmugam, J. K., & Woo, H. K. (2022). An empirical research on factors affecting customer satisfaction towards fintech products and services in Sungai Petani, Kedah. Journal of Academia, 10. https://ir.uitm.edu.my/id/eprint/70159
Featherman, M. S., & Pavlou, P. A. (2003). Predicting e-services adoption: a perceived risk facets perspective. International Journal of Human-Computer Studies, 59(4), 451–474. https://doi.org/10.1016/s1071-5819(03)00111-3
Davis, F. D. (1989). Perceived Usefulness, Perceived Ease of Use, and User Acceptance of Information Technology. MIS Quarterly, 13(3), 319. https://doi.org/10.2307/249008
Gomber, P., Koch, J., & Siering, M. (2017). Digital Finance and FinTech: current research and future research directions. Journal of Business Economics, 87(5), 537–580. https://doi.org/10.1007/s11573-017-0852-x
Hu, Z., Ding, S., Li, S., Chen, L., & Yang, S. (2019). Adoption Intention of Fintech Services for Bank Users: An Empirical Examination with an Extended Technology Acceptance Model. Symmetry, 11(3), 340. https://doi.org/10.3390/sym11030340
Hair, Jr, J. F., Hult, G. T. M., Ringle, C. M., & Sarstedt, M. (2021). A Primer on Partial Least Squares Structural Equation Modeling (PLS-SEM). SAGE Publications, Inc.
Gunasena, P., Hapuarachchi, T., & Gunathilake, S. (2024). Comprehensive data collection: Methods, challenges, and the importance of accuracy.
Kaur, S., & Arora, S. (2020). Role of perceived risk in online banking and its impact on behavioral intention: trust as a moderator. Journal of Asia Business Studies, ahead-of-print(ahead-of-print). https://doi.org/10.1108/jabs-08-2019-0252
Khatun, N., & Tamanna, M. (2021). Factors affecting the adoption of fintech: A study based on the financial institutions in Bangladesh. Copernican Journal of Finance & Accounting, 9(4), 51. https://doi.org/10.12775/cjfa.2020.021
Kim, Y., Park, Y., Choi, J., & Yeon, J. (2015). An Empirical Study on the Adoption of “Fintech” Service: Focused on Mobile Payment Services. Advanced Science and Technology Letters. https://doi.org/10.14257/astl.2015.114.26
David, L. J., & Weigert, A. (1985). Trust as a Social Reality. Social Forces, 63(4), 967–985. https://doi.org/10.2307/2578601
Lien, N. T. K., Doan, T.-T. T., & Bui, T. N. (2020). Fintech and Banking: Evidence from Vietnam. The Journal of Asian Finance, Economics and Business, 7(9), 419–426. https://doi.org/10.13106/jafeb.2020.vol7.no9.419
Lim, F.-W., A. Fakhrorazi, Ridho Bramulya Ikhsan, Silitonga, K., Loke, W.-K., & Abdullah, N. L. (2020). The Role of Personal Innovativeness and Facilitating Conditions in Shaping the Attitudes of Mobile Internet Banking (MIB) Adoption among Generation Y in Malaysia. https://doi.org/10.20944/preprints202003.0407.v1
Mohamed, A. E. A. (2013). Improving the Libyan customers’ trust and acceptance for online banking technology. https://usir.salford.ac.uk/29451/1/Submitted_and_ammended_version.pdf
Thaker, H., Thaker, M. A., Khaliq, A., Allah Pitchay, A., & Iqbal Hussain, H. (2021). Behavioural intention and adoption of internet banking among clients’ of Islamic banks in Malaysia: an analysis using UTAUT2. Journal of Islamic Marketing, ahead-of-print(ahead-of-print). https://doi.org/10.1108/jima-11-2019-0228
Naz, F., Karim, S., Houcine, A., & Naeem, M. A. (2022). Fintech Growth during COVID-19 in MENA Region: Current Challenges and Future prospects. Electronic Commerce Research. https://doi.org/10.1007/s10660-022-09583-3
Pandow, B. A., Bamhdi, A. M., & Masoodi, F. (2020). Internet of Things: Financial Perspective and Associated Security Concerns. International Journal of Computer Theory and Engineering, 12(5), 123–127. https://doi.org/10.7763/ijcte.2020.v12.1276
Pavlou, P. A. (2003). Consumer Acceptance of Electronic Commerce: Integrating Trust and Risk with the Technology Acceptance Model. International Journal of Electronic Commerce, 7(3), 101–134. https://doi.org/10.1080/10864415.2003.11044275
Peong, K. K., Peong, K. P., & Tan, K. Y. (2021). Behavioural Intention of Commercial Banks’ Customers towards Financial Technology Services. GATR Journal of Finance and Banking Review VOL. 5 (4) JAN-MAR. 2021, 5(4), 10–27. https://doi.org/10.35609/jfbr.2021.5.4(2)
Persada, S. F., Miraja, B. A., & Nadlifatin, R. (2019). Understanding the Generation Z Behavior on D-Learning: A Unified Theory of Acceptance and Use of Technology (UTAUT) Approach. International Journal of Emerging Technologies in Learning (IJET), 14(05), 20. https://doi.org/10.3991/ijet.v14i05.9993
Rahi, S., Othman Mansour, M. M., Alghizzawi, M., & Alnaser, F. M. (2019). Integration of UTAUT model in internet banking adoption context. Journal of Research in Interactive Marketing, 13(3), 411–435. https://doi.org/10.1108/jrim-02-2018-0032
Rehman, Z. U., Omar, S. S. B., Zabri, S. B. M., & Lohana, S. (2019). Mobile Banking Adoption and its Determinants in Malaysia. International Journal of Innovative Technology and Exploring Engineering, 9(1), 4231–4239. https://doi.org/10.35940/ijitee.l3015.119119
Sair, S. A., & Danish, R. Q. (2018). Effect of performance expectancy and effort expectancy on the mobile commerce adoption intention through personal innovativeness among Pakistani consumers. Pakistan Journal of Commerce and Social Sciences (PJCSS), 12(2), 501–520. https://www.econstor.eu/bitstream/10419/188355/1/pjcss435.pdf
Schatz, D., Bashroush, R., & Wall, J. (2017). Towards a More Representative Definition of Cyber Security. The Journal of Digital Forensics, Security and Law, 12(2). https://doi.org/10.15394/jdfsl.2017.1476
Setiawan, B., Nugraha, D. P., Irawan, A., Nathan, R. J., & Zoltan, Z. (2021). User Innovativeness and Fintech Adoption in Indonesia. Journal of Open Innovation: Technology, Market, and Complexity, 7(3), 188. https://doi.org/10.3390/joitmc7030188
Shakir, T. (2022). Discussion on Fintech Adoption Research. Global Journal of Management and Business Research: A Administration and Management, 22(1).
Singh, S., Sahni, M. M., & Kovid, R. K. (2020). What drives FinTech adoption? A multi-method evaluation using an adapted technology acceptance model. Management Decision, 58(8), 1675–1697. https://doi.org/10.1108/md-09-2019-1318
Stewart, H., & Jürjens, J. (2018). Data security and consumer trust in FinTech innovation in Germany. Information and Computer Security, 26(1), 109–128. https://doi.org/10.1108/ics-06-2017-0039
Salleh, M. N. M., & Tasnim, R. (2022). Fintech in Malaysia: a systematic literature review on published literature. International Journal of Business and Globalisation, 30(3/4), 524. https://doi.org/10.1504/ijbg.2022.123633
Tun-Pin, C., Keng-Soon, W. C., Yee-San, Y., Pui-Yee, C., Hong-Leong, J. T., & Shwu-Shing, N. (2019). AN ADOPTION OF FINTECH SERVICE IN MALAYSIA. South East Asia Journal of Contemporary Business, Economics and Law, 18(5), 134–147.
Wang, S. (2021). Opportunities of Financial Technology Under the Impact of COVID-19. Proceedings of the 6th International Conference on Financial Innovation and Economic Development (ICFIED 2021), 166, 529–532. https://doi.org/10.2991/aebmr.k.210319.097
Yoo, J., Choi, S., Hwang, Y., & Yi, M. Y. (2021). The Role of User Resistance and Social Influences on the Adoption of Smartphone. Journal of Organizational and End User Computing, 33(2), 36–58. https://doi.org/10.4018/joeuc.20210301.oa3

Lee, S., Foong, M. S., K, P. S., & N.H, A. (2024). Exploring the Elements that Influence Bank Customers’ Intention to Adopt Fintech. International Journal of Academic Research in Accounting, Finance and Management Sciences, 14(4), 1264–1275.