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Does FinTech adoption increase the diffusion rate of digital financial inclusion? A study of the banking industry sector

Myriam Aloulou (Department of Accounting and Finance, Liwa College, Abu Dhabi, United Arab Emirates)
Rima Grati (College of Technological Innovation, Zayed University, Dubai, United Arab Emirates)
Anas Ali Al-Qudah (Department of Accounting and Finance, Liwa College, Abu Dhabi, United Arab Emirates)
Manaf Al-Okaily (Jadara University, Irbid, Jordan)

Journal of Financial Reporting and Accounting

ISSN: 1985-2517

Article publication date: 27 September 2023

Issue publication date: 29 April 2024

981

Abstract

Purpose

The purpose of this study is to discuss the United Arab Emirates’ (UAE) favorable attitude toward the financial sector’s digital transformation and the development of FinTech due to the rise of financial technology. FinTech blends innovation and technology to provide financial inclusion to stakeholders through various new products and services such metaverse and artificial intelligence.

Design/methodology/approach

A quantitative research approach was used to empirically validate the suggested research model by using 260 Emirates-based banking authorities and administrators’ data.

Findings

The findings indicate that FinTech adoption had a substantial impact on the competitiveness and performance of the UAE banking industry during COVID-19 times. The research indicates that adequate FinTech implementation and alignment with technology management directly influence the performance of the UAE’s banking sector in difficult times.

Originality/value

This study is critical because the UAE banking sector serves diverse nationalities, and its success is contingent on FinTech and its competitive edge.

Keywords

Citation

Aloulou, M., Grati, R., Al-Qudah, A.A. and Al-Okaily, M. (2024), "Does FinTech adoption increase the diffusion rate of digital financial inclusion? A study of the banking industry sector", Journal of Financial Reporting and Accounting, Vol. 22 No. 2, pp. 289-307. https://doi.org/10.1108/JFRA-05-2023-0224

Publisher

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Emerald Publishing Limited

Copyright © 2023, Emerald Publishing Limited

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