The Influence of the Evolvement of Financial Technology (FINTECH) Firms on the Delivery of Financial Services

• Autorzy: Samson Ogege , Tarila Boloupremo
• Języki publikacji: EN

Abstrakty

EN

This work examined the evolvement of financial technology (fintech) in Nigeria's commercial capital city, Lagos, and its influence on the delivery of financial services in Nigeria. The purposive sampling technique was adopted to select members of the population of financial services consumers in Lagos, the commercial and economic capital of Nigeria. A sample size of 400 was drawn with a total of 303 copies of the questionnaire properly completed, returned, and found sufficient to be employed for data analysis. ANOVA regression analysis was employed to analyse the data. The findings of the study indicated that factors such as the increase in technological advancement and its usage by younger consumers are the major drivers of financial services. Furthermore, it was established that many customers preferred fintech companies to traditional financial institutions in the scope of the delivery of financial services. It was also established that fintech companies have a significant influence on customer satisfaction and are changing the dynamics of competition in the delivery of financial services in Nigeria. (original abstract)

Słowa kluczowe

EN

FinTech; Financial services; Services offer

PL

Technologie finansowe; Usługi finansowe; Oferta usługowa

• Czasopismo: Forum Scientiae Oeconomia
• Rocznik: 2020
• Tom: 8
• Numer: nr 4
• Strony: 87--98

Twórcy

autor

Samson Ogege

• University of Lagos, Nigeria

autor

Tarila Boloupremo

• University of Africa, Toru-Orua, Nigeria

Bibliografia

• Aboelmaged, M.G., Gebba, T.R. (2013), Mobile banking adoption: An examination of technology acceptance model and theory of planned behavior, International Journal of Business Research and Development, 2(1), 35-50.
• Accenture Technology Vision (2015), Digital business era: Stretch your boundaries, retrieved from: https://www.accenture.com/_acnmedia/Accenture/Conversion-Assets/Microsites/ Documents11/Accenture-Technology-Vision-2015.pdf (accessed 20 October 2020)
• Alt, R. Beck, R., Martin T., Smits, M.T. (2018), Fintech and the transformation of the financial industry, Electronic Markets, 1(1), 1-10.
• Bert, S., Dick, V.W. (2000), A critique on the theory of financial intermediation, Journal of Banking and Finance, 24(8), 1243-1251. DOI: 10.1016/S0378-4266(99)00085-0
• Caruntu, G.A., Romanescu, M. L. (2008), The assessment of banking performances-indicators of performance in bank Area, MPRA Paper no. 11600.
• Cham, T.H., Low, S C., Lim, C.S., Aye, A.K. Raymond, L.L.B. (2018), Preliminary study on consumer attitude towards Fintech products and services in Malaysia, International Journal of Engineering & Technology, 7(2.29), 166-169. DOI: 10.14419/ijet.v7i2.29.13310
• Chong, T., Keng-Soon, W. Choo., Yen-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.
• Desai, K.R., Meena, V., Vinutha V., Jayakumar, K, (2019), Fintech Innovations and Its Impact on the Profitability of Selected Banks, International Journal of Business and Management Invention, 8(1), 41-45.
• Gurley, J.G., Shaw, E.S. (1960), Money in theory of finance, Washington, DC: Brookings.
• Gupta, A., Arora, N. (2017), Consumer adoption of m-banking: A behavioral reasoning theory perspective, International Journal of Bank Marketing, 35(4), 733-747. DOI: 10.1108/IJBM-11-2016-0162
• Hsu, C.L.; Wang, C.F., Lin, J.C.C. (2011), Investigating customer adoption behaviours in mobile financial services, International Journal of Mobile Communications, 9(5), 477-494. DOI.org/10.1504/IJMC.2011.042455
• Jin, C.C., Seong, L.C., Khin, A.A. (2018), Factors affecting the consumer awareness and acceptance towards fintech products and services in Malaysia, International Journal of Asian Social Science, 9(1), 59-65. DOI: 10.18488/journal.1.2019.91.59.65
• Jiwasiddi, A., Adhikara, C.T., Adam, M.R.R., Triana, A. (2019), Attitude toward using Fintech among Millennials, The 1st Workshop on Multimedia Education, Learning, Assessment and its Implementation in Game and Gamification in conjunction with COMDEV 2018, Medan Indonesia, 26th January 2019, WOMELA-GG. DOI: 10.4108/eai.26-1-2019.2283199
• Lawrence, O.U., Omankhanlen, A.E., Okoh, J.I., Isibor, A.A. (2018), Technology-based financial services delivery and customer satisfaction: A study of the Nigerian banking sector, International Journal of Civil Engineering and Technology, 9(13), 214-223.
• Leong, K., Sung, A. (2018), Fintech (Financial Technology): What is it and how to use technologies to create business value in Fintech way?, 9(2), 74-78. DOI: 10.18178/ijimt.2018.9.2.791
• Mittal, V. (2019), Nigeria Fintech Landscape, retrieved from: https://www.researchgate.net/publication/330701480_Nigeria_FinTech_Landscape (accessed 29 November 2020).
• Olowe, R.A. (2016), Financial management: Concepts, financial system and business finance (3rd edition), Lagos: Brierly Jones/Ibadan University Printing Press.
• Pandey, I.M. (2006), Financial management, (9th Edition), New Delhi, Vikas Publishing House.
• Philippon, T. (2016), The Fintech opportunity, National Bureau of Economic Research Journal, 10(1), 25-47.
• Saksonova, S., Kuzmina-Merlino, I. (2017), Fintech as financial innovation - the possibilities and problems of implementation, European Research Studies Journal, 20(3), 961-973. DOI: 10.35808/ersj/757
• Shaikh, A.A., Karjaluoto, H. (2015), Mobile banking adoption: A literature review, Telematics and Informatics, 32(1), 129-142. DOI: 10.1016/j.tele.2014.05.003
• Slazus, B.J., Bick, G. (2020), Factors that influence fintech adoption in South Africa: A study of consumer behavior towards branchless mobile banking, Athens Journal of Business & Economics, 6, 1-21. DOI: 10.30958/ajbe.X-Y-Z
• Soriano, M. (2017), Factors driving financial inclusion and financial performance in Fintech new ventures: An empirical study, PhD thesis, Dissertations and Theses Collection, retrieved from: https://ink.library.smu.edu.sg/etd_coll/145/ (accessed 29 November 2020)
• Varga, D. (2017), Fintech, the new era of financial services, Budapest Management Review, 11, 22-32. DOI: 10.14267/VEZTUD.2017.11.03
• Zhongqing, H., Shuai D., Shizheng L., Luting C., Shanlin, Y. (2019), Adoption intention of Fintech services for bank users: An empirical examination with an extended technology acceptance model, Symmetry, 11(340), 1-16. DOI: 10.3390/sym11030340

Identyfikatory

DOI

10.23762/FSO _VOL 8_NO4_5