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. 

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

Open banking is the trend of empowering customers to share their banking data with fntechs and other banks. We compile a novel dataset documenting that governments in 49 countries have implemented open banking policies and 31 more are in active discussions. Following adoption, fntech venture capital investment increases by 50%, with more comprehensive policies showing larger efects. We examine the policy tradeofs with a quantitative model of consumer data production and usage. Our calibrations show that customer-directed data sharing increases entry by improving entrant screening ability and product oferings, but harms some customers and can reduce ex-ante information production.

Customer Data Access and Fintech Entry: Early Evidence from Open Banking

Over 50 countries have introduced regulatory sandboxes to foster financial innovation. This paper conducts the first evaluation of their ability to improve fintechs' access to capital. Exploiting the staggered introduction of the UK sandbox, we compare firms in earlier to those in later cohorts. Firms entering the sandbox see an increase of 15% in capital raised post-entry; their probability of raising capital increases by 50%. We present evidence that the sandbox facilitates access to capital by reducing asymmetric information and regulatory costs. Controlling for time-varying confounding factors at the firm- or investor-level through fixed effects does not affect our findings.

/pdf/regulatory-sandboxes-and-fintech-funding-evidence-from-the-4rg92t499u.pdf

Regulatory Sandboxes and Fintech Funding: Evidence from the UK

Abstract Over fifty countries have introduced regulatory sandboxes to foster financial innovation. This article conducts the first evaluation of their ability to improve fintechs’ access to capital and attendant real effects. Exploiting the staggered introduction of the UK sandbox, we establish that firms entering the sandbox see an increase of 15% in capital raised post-entry. Their probability of raising capital increases by 50%. Sandbox entry also has a significant positive effect on survival rates and patenting. Investigating the mechanism, we present evidence consistent with lower asymmetric information and regulatory costs. 

/pdf/regulatory-sandboxes-and-fintech-funding-evidence-from-the-286bjjae.pdf

Understanding the factors influencing women in adopting and utilizing financial technology (Fintech) services will not only contribute to reduce the gender gap but will also accelerate financial inclusion. The main objective of this research is to examine the antecedents of behavioral intention and use behavior by extending the Technology Acceptance Model (TAM) of women in Indonesia, considering the mediating effect of government support, digital financial literacy and value of status quo in post-Covid-19 pandemic. Further, this study explores the potential differences in the determinants of use behavior between urban and rural respondents. By analyzing 403 Indonesian women respondents using Partial Least Square Structural Equation Modeling (PLS SEM), this study revealed that attitude has the most significant effect in explaining behavioral intention and value of status quo gained the greatest impact on use behavior in post-Covid-19 outbreak. Government support and digital financial literacy play a significant role with small effect size, while value of status quo has large effect size, in mediating the relationship between behavioral intention and use behavior. The finding also documented that the impact of government support on use behavior differs between urban and rural individuals. These findings highlight the need for a different government strategy to increase Fintech adoption for women residing in both urban and rural areas in Indonesia. 

Factors Influencing Fintech Adoption for Women in the post-Covid-19 Pandemic

The fintech gender gap

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The fintech gender gap