Navigating fintech innovation: Performance, trust, and risk factors in UAE's banking sector

Abstract

This study was conducted to identify the determinants of fintech adoption in UAE financial service firms, specifically in the banking sector. Towards this direction, the study identified a set of factors such as performance expectancy, effort expectancy, facilitating conditions, perceived trust, and perceived risk as the factors affecting fintech innovation adoption. The data for this study was primary in nature; the sample used consisted of  330 managers from UAE financial services firms. Factor analysis and regression analysis were performed to arrive at the study results, which confirmed that fintech adoption has a significant positive impact on performance expectancy, effort expectancy, and perceived trust, but it has a significant negative impact on perceived risk. The results of the study recommend training employees and engaging customers for better adoption of fintech technology.