Drivers of Fintech Adoption in Vietnamese Banking: A Case Study of Vietnam International Bank

Wissem Ajili Ben Youssef, Najla Bouebdallah and Thi Kim Hao Le

Chapter 5 in Innovating Finance for a Sustainable Future:Integrating FinTech, Blockchain and Generative AI, 2026, pp 129-170 from World Scientific Publishing Co. Pte. Ltd.

Abstract: This study examines the drivers of fintech adoption in emerging market banks, with a focus on how established theories apply in contexts characterized by distinct regulatory, technological, and competitive conditions. Using the Technology–Organization–Environment (TOE) framework, a model with seven constructs—technological compatibility, regulatory environment, organizational readiness, customer acceptance, financial potential, competitive pressure, and risk/security management—was tested using survey data from 303 professionals at Vietnam International Bank (VIB). Factor and regression analyses indicate that all seven factors significantly influence adoption, with financial potential, risk, and security management, and organizational readiness as the strongest predictors. The model explains 86.1% of the variance in adoption decisions, confirming its robustness in emerging markets. These findings offer practical insights for stakeholders across the fintech ecosystem, informing strategic priorities for banking executives, regulatory approaches for policymakers, and product alignment for fintech developers in the context of digital transformation. Banking executives should prioritize developing a comprehensive financial business case, implementing robust risk management frameworks, and enhancing organizational capabilities when implementing fintech solutions. Policymakers benefit from understanding how regulatory clarity facilitates adoption, while fintech developers can align product offerings with identified organizational priorities. The findings provide evidence-based guidance for digital transformation strategies in emerging market banking contexts. This research contributes by (1) extending TOE to emerging market banking, (2) providing the first empirical study of fintech adoption in Vietnam’s banking sector, and (3) validating a comprehensive model for digital transformation in developing economies.

Keywords: Generative Artificial Intelligence; Technology–Organization–Environment (TOE); ESG Factors; Sustainability; Blockchain; Supply Chain Finance; Trade Finance; FinTech; Customer Loyalty; Mobile Banking; Perceived Risk; Trust; Personalization; Digital Banking Adoption; Customer Behavior; Digital Innovation; Retail Banking; CSR; Foreign Ownership; Digital Transformation; Bank Performance; Big Four; Auditing; Intention to Use; Risk Assessment; Risk Mitigation; CAMELS-Based Framework; Banking; Qualitative Approach; Quantitative Approach; Case Study; Vietnam Banking Sector (search for similar items in EconPapers)
JEL-codes: G21 G23 G28 O33 Q56 (search for similar items in EconPapers)
Date: 2026
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