Understanding Consumers’ Barriers to Using FinTech Services in the United Arab Emirates: Mixed-Methods Research Approach

Mohamed Bouteraa and Brahim Chekima and Nelson Lajuni and Ayesha Anwar (2023) Understanding Consumers’ Barriers to Using FinTech Services in the United Arab Emirates: Mixed-Methods Research Approach. Sustainability, 15. pp. 1-22.

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URL: https://www.mdpi.com/2071-1050/15/4/2931

Abstract

The cutting-edge development known as FinTech is now fast replacing traditional financial services all over the world. Despite that, UAE consumers are still not embracing FinTech services at the expected rate. This study hence suggests expanded research based on the unified theory of acceptance and use of technology (UTAUT) to deeply examine the obstacles preventing consumers from using FinTech services. This research utilised an exploratory sequential mixed-method approach. Preliminary semi-structured interviews involving ten banking experts were undertaken to explore the barriers preventing consumers from using FinTech services. To get additional empirical support for the research concept, the study sequentially examined numerous components using a quantitative cross-sectional online survey involving 332 bank customers. The qualitative investigation highlighted six new barriers that consumers face when using FinTech. Through quantitative data analysis, the preliminary qualitative findings were largely verified. As far as the authors are concerned, this inquiry is the first to put forth a thorough model that takes into account organisational, technological, individual, and environmental aspects for addressing the problem of low FinTech usage. By incorporating several new factors, this study also expands the UTAUT. Additionally, it is one of the first studies to examine FinTech adoption employing a mixed-approach methodology.

Item Type:	Article
Keyword:	FinTech, Financial technology, Intention to use, UTAUT, mixed-methods, UAE
Subjects:	H Social Sciences > HF Commerce > HF1-6182 Commerce > HF5001-6182 Business > HF5410-5417.5 Marketing. Distribution of products H Social Sciences > HG Finance > HG1-9999 Finance > HG1501-3550 Banking > HG1709 Data processing
Department:	FACULTY > Faculty of Business, Economics and Accounting
Depositing User:	SITI AZIZAH BINTI IDRIS -
Date Deposited:	08 Aug 2023 15:38
Last Modified:	08 Aug 2023 15:38
URI:	https://eprints.ums.edu.my/id/eprint/36304

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