What drives FinTech adoption among financial institutions? A systematic review of literature

The rapid evolution of financial technology (FinTech) has fundamentally transformed the financial services landscape, compelling traditional financial institutions to reconsider their operational and strategic frameworks.This systematic literature review examines the key drivers influencing FinTech adoption among banks, insurance companies, and other financial institutions.Through a comprehensive analysis of peerreviewed articles, this study identifies multiple adoption factors spanning technological, organizational, environmental, and individual dimensions.The findings reveal that competitive pressure, regulatory environment, technological infrastructure, perceived benefits, and customer demand emerge as primary catalysts for FinTech integration.Additionally, organizational readiness, top management support, and innovation culture significantly moderate the adoption process.However, concerns regarding cybersecurity, legacy system integration, and regulatory compliance continue to pose substantial barriers.This study advances current understanding by integrating disparate research findings and developing an integrated model that elucidates the factors influencing FinTech adoption in financial institutions, simultaneously highlighting areas requiring further investigation.