Title: Financial technology revolution and banks' information and communication technology investment: evidence from an emerging economy

Authors: Adam Konto Kyari; Bukar Zanna Waziri; Musa Garba Gulani

Addresses: Department of Accounting, College of Business Administration, Imam Abdulrahman Bin Faisal University, Dammam, Saudi Arabia ' Department of Accounting, Faculty of Management Sciences, University of Maiduguri, Nigeria ' Department of Accounting, Faculty of Management Sciences, University of Maiduguri, Nigeria

Abstract: The main objective of this study is to investigate banks' perception of Fintech growth in Nigeria and how such growth affects their ICT investment decisions. Fintech has brought to the forefront the significance of ICT by providing traditional banking services, which were hitherto the exclusive rights of incumbent banks. This has made banks to increase their ICT expenditure by investing heavily in digital banking and on accelerators, alliances and innovation laboratories. Guided by the Sense and Respond theory, an in-depth interview was conducted and later transcribed manually without the use of any software. The analysis of the findings revealed that Fintechs are both threat and opportunity to Nigerian banks and are impacting positively on their ICT investment decisions. Finally, this study recommends further research on the effectiveness of banks' ICT investments decisions in containing the growth of Fintech in Nigeria.

Keywords: fintech; bank; information and communication technology; ICT; threat; opportunity; decisions; response; payment.

DOI: 10.1504/IJTLID.2021.118118

International Journal of Technological Learning, Innovation and Development, 2021 Vol.13 No.3, pp.283 - 303

Received: 19 Dec 2020
Accepted: 03 Jun 2021

Published online: 12 Oct 2021 *

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