Impact of Financial Technology on Improvement of Banks’ Financial Performance

Hafez Baker, Thair A. Kaddumi, Mahmoud Daoud Nassar and Riham Suleiman Muqattash ()
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Hafez Baker: Financial Services Company, Trading Company, Abu Dhabi 59559, United Arab Emirates
Thair A. Kaddumi: Faculty of Business, Applied Science Private University, Amman 541350, Jordan
Mahmoud Daoud Nassar: College of Business, Al Ain University, Abu Dhabi 112612, United Arab Emirates
Riham Suleiman Muqattash: College of Business, Al Ain University, Abu Dhabi 112612, United Arab Emirates

JRFM, 2023, vol. 16, issue 4, 1-20

Abstract: This study investigates the main financial technologies adopted by banks to improve their financial performance. The study population consists of commercial banks listed on the Amman Stock Exchange and Abu Dhabi Securities Exchange, and includes financial information and data from 2012 to 2020. A total of 115 questionnaires, consisting of five questionnaires for each bank, were distributed to the study population in Jordan and the United Arab Emirates. The dependent variable is financial performance, while the independent variable is financial technology (FinTech). Multiple linear regression analysis was conducted to test the hypotheses. The results showed that FinTech has a positive effect on both total deposit and net profits. This study recommends that banks be encouraged to adopt inclusive strategies to attain sustainable development.

Keywords: financial technology (FinTech); financial performance; financial position; Amman Stock Exchange (ASE); Abu Dhabi Securities Exchange (ADX) (search for similar items in EconPapers)
JEL-codes: C E F2 F3 G (search for similar items in EconPapers)
Date: 2023
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