Identifying Factors That Influence the Use of E-Wallets and Its Continuance

The e-wallet is one of the successful innovative services that was launched in 2017. A quantitative survey approach based on a five-point Likert scale was used in this study. The sampling tool relies on the snowball and convenience sampling technique. The sample consisted of 660 users in Bahrain. This study found that the four predictor variables are statistically significant and supportive. The compatibility variable is the leading factor in the analysis. However, the study's results indicated that the moderating variables were also found to be statistically insignificant. The research findings contribute to the service providers and marketers with a clear understanding of the factors that affect the use of e-wallets and continuance use. Also, there was an addition to the theoretical implications indicated by the significant direct relationship between continuance use and compatibility.

Investigation of Factors Affecting Adoption of FinTech in Financial Institutions

FinTech, a compound term for financial technology, signifies the usage of technology to provide financial assistance. Ever since its evolution FinTech has been growing tremendously, despite its positive and negative aspects. In the literature review, there are many factors affecting the adoption of FinTech. It was found that the ease of use of technology (Technology Acceptance Theory), investment decisions in crowdfunding (Decision Theory), and the risks involved in the adoption of FinTech (Prospect Theory) are the main factors that might affect the adoption of FinTech. However, there is a paucity of studies linking all these factors in the adoption of FinTech using these theories. This research project investigates the influence of these factors in the adoption of FinTech. In order to analyze these factors, a questionnaire was used. As a result, it was found that there is a positive relationship between the ease of use and FinTech's adoption; between FinTech's adoption and investment decisions in crowdfunding and between the level of risks when adapting to FinTech. Keywords: FinTech; Factors; Bahrain; Adoption; Financial Institutions

FinTech Adoption in China

Almost all financial services (especially digital payments) in China are affected by new innovations and technologies. New technologies such as blockchain, artificial intelligence, machine learning, deep learning, and data analytics have immensely influenced all most all aspects of financial services such as deposits, transactions, billings, remittances, credits (B2B and P2P), underwriting, insurance, and so on. Fintech companies are enabling larger financial inclusion, changing in lifestyle and expenditure behavior, better and fast financial services, and lots more. This chapter covers the development, opportunities, and challenges of financial sectors because of new technologies in China. This chapter throws the light on opportunities that emerged because of the large population of 1.4 billion people, high penetration, and access to the latest and affordable technology, affordable cost of smartphones, and government policies and regulations. Lastly, this chapter portrays the untapped potentials of Fintech in China.

When Technology Meets Finance

There is a paradigm shift in the financial services industry. Combined with ever-changing customer expectations and preferences, emerging technologies such as artificial intelligence (AI), machine learning, the internet of things (IoT), and blockchain are redefining how financial institutions deliver services. It is an enormous task to remain competitive in this ever-changing environment. Financial institutions see FinTech as a major part of the digital future, and as proof of this, since 2015, financial institutions have invested over US$ 27 billion in FinTech and digital innovation. This chapter is an introductory chapter that explores FinTech in the literature. It focuses on how FinTech is reshaping the financial industry by describing FinTech phases and development process. The financial products and services using FinTech are also described with a highlight on Islamic FinTech. The chapter finally concludes by describing the future of FinTech.

Adoption of FinTech by Students in Higher Education Institutions

Financial technology is encouraging various new practices, such as diminishing of the use of cash in different countries, increasing the rate of use of mobile payments, introducing new algorithms for high-frequency trading across national boundaries, etc., hence attracting significant attention. However, the continues use of fintech is still doubted by scholars. As a result, this chapter aims to comprehend whether, and why, higher education students, who are future entrepreneurs, would be willing, or hesitate to utilize fintech. Data was collected from 350 higher education students from universities in Bahrain. Only those students who had prior experience with cashless online payment systems were the selected target population for this study's online survey. The findings confirmed that risk negatively effects the intent for the continence of using fintech, and convenience baring the strongest positive effect. This study contributes to theoretical and practical implications for future and budding entrepreneurs graduating from the higher education sector of Bahrain.

User Friendly and User Satisfaction Model Aligned With FinTech

This chapter investigates user friendliness and user satisfaction at Ministry of Works (MoW), Kingdom of Bahrain. Literature is focused on Technology Acceptance Model (TAM), Perceived Ease of Use (PEOU) as having a positive link to user friendliness. Findings show that user friendliness has a positive and significant impact on user satisfaction. This is empirically tested with a sample of 131 employees, a quantitative approach using SPSS Version 25, Pearson Correlation, Factor and Regression Analysis. Findings contribute to the existing body of knowledge in providing insights on factors influencing user satisfaction. Limitation of the study include small sample size, convenience sampling, and no interactive effects examined. Further studies should measure other variables such as user resistance to change and environmental factors. Other studies on user confidence level could also be investigated. User confidence has a major role in improving customer satisfaction.

The Adoption of E-Wallets

This chapter measures the attitudes of people residing in the Kingdom of Bahrain toward adopting mobile banking technology, also known as e-Wallets. The Technology Acceptance Model, the Unified Theory of Acceptance and Use of Technology, and the Diffusion of Innovations model were used to construct a questionnaire with the added focus on the promotional aspects. A total of 1,740 responses obtained from individuals in Bahrain revealed a high level of adoption rates. All dimensions measured were confirmed to have a significant impact on the adoption of e-Wallets, particularly those related to promotional benefits, which reveals a need for future studies to focus on the marketing approaches of mobile payment technologies. Studied factors were confirmed to have a significant impact on the usage and adoption of e-Wallets in the Kingdom of Bahrain. More focus is required from a benefits perspective rather than the technical perspective. Financial institutions need to pay more considerable attention to the changing mindsets of people toward making payments and the shift to new technologies.

Fintech Challenges and Outlook in India

Fintech refers to the novel processes and products that become available for financial services due to the digital technological advancements. Fintech includes technologically enabled financial innovation leading to new business models, applications, processes, or products with an associated material effect on financial markets, institutions, and financial services. India is transitioning into a dynamic ecosystem offering Fintech start-ups a platform to grow into billion-dollar unicorns. From tapping new segments to exploring foreign markets, Fintech in India is pursuing multiple targets. The traditionally cash-driven Indian economy has responded well to the Fintech opportunity, primarily triggered by a surge in e-commerce, and Smartphone penetration. However, India's growth is still not comparable in scale to its global counterparts but is stacked well, due to a strong talent pipeline of the tech workforce. Hence, adopting an exploratory approach, based on in-depth literature review, the chapter aims to identify the challenges and deliberate on the outlook for Fintech in India.

Crowdfunding

Crowdfunding is a new form of both investment opportunities and source of raising capital. The aim of this chapter is to explore the understanding of the newly invented crowdfunding, types of the existing platforms of the industry. Authors investigated crowdfunding platforms that are registered in securities commission Malaysia and Kapitalboost platform of Singapore and their mode of investment. Authors also looked in depth and reviewed a current literature on crowdfunding. An investment model of crowdfunding that will be suitable for the Muslim investors who are looking into an ethical investment that will contribute to the wellbeing of the societies as whole through Mudharabah and Musharakah investment. The findings explored that equity crowdfunding could bring more benefit and less harm to entrepreneurs. Consequently, there are two types of models that are based on equity-in and equity-out; hence, the chapter recommends the equity crowdfunding over the debt-based through Islamic investment method of Musharakah and Mudharabah investment.

An Overview of International Fintech Instruments Using Innovation Diffusion Theory Adoption Strategies

The aim of this chapter is to evaluate and predict the future of international fintech instruments in the domain of innovation diffusion theory (IDT) adoption strategies. Further, the consequences of the new payments system directive (PSD2) in Europe and blockchain applications are discussed. For instance, money transfer and payments have the highest rate of adoption (ROA) while insurance services have the highest speed of growing ROA due to relative advantages, high compatibility and trialability levels, and low level of complexity and uncertainty. Cross country comparisons include descriptive statistics about fintech deal value and volume, innovation rank, B2C commerce market, ROA and internet penetration. Germany is the only country listed in all of the top 10 ranking lists, followed by the U.S., the U.K., and France. Also, China, India, and Canada have distinguished success in terms of fintech indicators while the growth in Japan is expected to be slow. Accordingly, ROA in five emerging markets is much higher than some of the developed countries which can be explained by the Cancian Theory.