Digitalization of the Banking Sector: Drivers of Fintech Adoption by the First Women Bank of Pakistan

Abstract

The emergence of multiple fintech tools and applications along with the quick advancement of technology are revolutionizing how the general public accesses financial services. Fintech businesses aim to provide user-specific goods and services to broaden financial inclusion and boost Pakistan’s findex. An improved version of the technology acceptance model (TAM) theory is utilized in this study to look at the factors that influence the adoption of fintech. The association between elements including perceived ease of use, perceived utility, trust, and financial literacy and the adoption of fintech services has been examined using a five-point Likert scale. The data has been collected from 50 staff members of First women bank of Pakistan. Software Smart-PLS is utilized for analysis. The outcome reveals that banks’ intents to adopt fintech are directly and significantly impacted by perceived ease of use, perceived utility, trust, and financial literacy.