Divers Influencing the Adoption of Financial Technology (FinTech): Evidence from State-owned Commercial Banks in Bangladesh

Purpose: The research aim of this study is to provide an understanding of the elements that influence the overall FinTech adoption of Bangladesh’s State-owned commercial banks. Methodology: With a total sample size of 150, questionnaire surveys were used to collect the primary data sources.The entire consumer base that regularly uses FinTech was considered as a sample unit. Specific statistical techniques, such as ANOVA, correlation analysis and regression analysis, have been applied to analyze data based on categorized information in order to look into the factors influencing FinTech. Findings: The findings imply that the adoption of FinTech is extensively and favorably impacted by social effects, internet connectivity, and trust and security. However, FinTech adoption is negatively and insignificantly impacted by performance expectations and the regulatory environment. In order to do this, banks should increase public knowledge and understanding of financial services, carry out comprehensive user education programs, and collaborate with controlling bodies to establish a regulatory framework that is conducive to growth. Future scope of this research: To get a more complete picture of the broader FinTech industry, future research needs to involve private commercial banks, regulators, legislators, and FinTech vendors. Including more stakeholders can help paint a more accurate and comprehensive picture of the factors influencing FinTech adoption. This expanded focus will make it simpler to identify any variations in state-owned and private institutions' adoption patterns as well as the ways that legal and regulatory frameworks affect FinTech adoption.