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Unearthing antecedents to financial inclusion through fintech innovations

Unearthing antecedents to financial inclusion through fintech innovations
Unearthing antecedents to financial inclusion through fintech innovations
Fintech innovations are enabling access to financial services through mobile devices for many unbanked in the world. Though fintech innovations are touted as game changers in deepening financial inclusion, their wide acceptance and use still remain limited. In the extant literature, technological and behavioural antecedents that influence users’ behaviour toward financial technologies are not fully understood. This study argues that understanding antecedents to the actual use of fintech innovations will lead to deepening financial inclusion. Using mobile money—a type of fintech innovation, this study adopts the Unified Theory of Acceptance and Use of Technology 2 (UTAUT2) and the Prospect theory. Drawing on survey data collected from 294 respondents, this study applies the partial least square structural equation modelling technique. The findings show that performance and effort expectancy have significant relationship with the intention to use mobile money services. However, contrary to well-established positions, price value, hedonic motivation, social influence and perceived risk do not influence intention and use of mobile money services. The study makes significant theoretical contributions and offers practical and policy implications for deepening financial inclusion.
Antecedents, FinTech, Financial Inclusion, Mobile Money, Prospect Theory, SEM, UTAUT2
0166-4972
Senyo, PK
b2150f66-8ef9-48f7-af32-3b055d4fa691
Osabutey, Ellis
45bd0411-a7de-4ccc-82d4-28a9eb350dd4
Senyo, PK
b2150f66-8ef9-48f7-af32-3b055d4fa691
Osabutey, Ellis
45bd0411-a7de-4ccc-82d4-28a9eb350dd4

Senyo, PK and Osabutey, Ellis (2020) Unearthing antecedents to financial inclusion through fintech innovations. Technovation, 98, [102155]. (doi:10.1016/j.technovation.2020.102155).

Record type: Article

Abstract

Fintech innovations are enabling access to financial services through mobile devices for many unbanked in the world. Though fintech innovations are touted as game changers in deepening financial inclusion, their wide acceptance and use still remain limited. In the extant literature, technological and behavioural antecedents that influence users’ behaviour toward financial technologies are not fully understood. This study argues that understanding antecedents to the actual use of fintech innovations will lead to deepening financial inclusion. Using mobile money—a type of fintech innovation, this study adopts the Unified Theory of Acceptance and Use of Technology 2 (UTAUT2) and the Prospect theory. Drawing on survey data collected from 294 respondents, this study applies the partial least square structural equation modelling technique. The findings show that performance and effort expectancy have significant relationship with the intention to use mobile money services. However, contrary to well-established positions, price value, hedonic motivation, social influence and perceived risk do not influence intention and use of mobile money services. The study makes significant theoretical contributions and offers practical and policy implications for deepening financial inclusion.

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Technovation - Accepted Manuscript
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Accepted/In Press date: 5 June 2020
e-pub ahead of print date: 22 June 2020
Keywords: Antecedents, FinTech, Financial Inclusion, Mobile Money, Prospect Theory, SEM, UTAUT2

Identifiers

Local EPrints ID: 441492
URI: http://eprints.soton.ac.uk/id/eprint/441492
ISSN: 0166-4972
PURE UUID: fe9c986f-844b-4bad-872c-e55983677a18
ORCID for PK Senyo: ORCID iD orcid.org/0000-0001-7126-3826

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Date deposited: 16 Jun 2020 16:30
Last modified: 22 Jun 2022 04:01

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Contributors

Author: PK Senyo ORCID iD
Author: Ellis Osabutey

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