Title: Relevance of DOI and TOE for assessing FinTech adoption by banks: comparative analysis between Egypt and Bahrain

Authors: Nada Megahed; Dina Al-Kayaly; Ameena Al-Hadad

Addresses: Management and Marketing Department, College of Business Administration, University of Bahrain, P.O. Box 32038, Sakhir, Kingdom of Bahrain ' School of Business and Finance, Newgiza University, P.O. Box 12511, Giza Governorate, Egypt ' Management and Marketing Department, College of Business Administration, University of Bahrain, P.O. Box 32038, Sakhir, Kingdom of Bahrain

Abstract: Global financial industry is facing recent emergence of digital transformation and technology innovations, especially financial technology in banking sector. Yet, previous studies have not provided sufficient models to assess this 'FinTech Revolution'. The current study, therefore, addressed this limitation by proposing a conceptual model for FinTech adoption by retail banks in Bahrain and Egypt. The proposed model is based on triangulation of technology-organisation-environment (TOE) framework and diffusion of innovation (DOI) theory. The model was empirically tested using a sample of 305 senior and mid-career bank employees in both countries. Exploratory factor analysis was employed to identify the underlying relationships between variables resulting in validating and developing two versions of the proposed 'FinTech Adoption' conceptual model, thus reflecting differences between the studied countries. Stepwise regression was used to answer research hypotheses and measure the true impact on FinTech Adoption, followed by T-test and ANOVA to assess the impact of moderating variables.

Keywords: FinTech; Bahrain; Egypt; technology adoption; retail banks; diffusion of innovation theory; TOE; technology-organisation-environment framework; FinTech ecosystem; stepwise regression; ANOVA; factor analysis.

DOI: 10.1504/JGBA.2021.125017

Journal for Global Business Advancement, 2021 Vol.14 No.6, pp.768 - 803

Received: 22 Feb 2022
Accepted: 22 Feb 2022

Published online: 22 Aug 2022 *

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